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REGISTERED NUMBER: 02922678 (England and Wales)















Unaudited Financial Statements For The Year Ended 28 April 2024

for

Mercury Cars (Ashford) Limited

Mercury Cars (Ashford) Limited (Registered number: 02922678)

Contents of the Financial Statements
For The Year Ended 28 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mercury Cars (Ashford) Limited

Company Information
For The Year Ended 28 April 2024







DIRECTORS: W L Temple
S L Temple
Mrs L Temple





SECRETARY: S L Temple





REGISTERED OFFICE: Osborne House
143 - 145 Stanwell Road
Ashford
Middlesex
TW15 3QN





REGISTERED NUMBER: 02922678 (England and Wales)





ACCOUNTANTS: Hunt Ford & Co
Osborne House
143-145 Stanwell Road
Ashford
Middlesex
TW15 3QN

Mercury Cars (Ashford) Limited (Registered number: 02922678)

Balance Sheet
28 April 2024

28/4/24 28/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 526,553 549,077
526,554 549,078

CURRENT ASSETS
Stocks 6,000 10,850
Debtors 6 3,477 3,346
Prepayments and accrued income 198 538
Cash at bank and in hand 114,780 64,886
124,455 79,620
CREDITORS
Amounts falling due within one year 7 153,349 142,289
NET CURRENT LIABILITIES (28,894 ) (62,669 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

497,660

486,409

CREDITORS
Amounts falling due after more than
one year

8

62,003

71,481
NET ASSETS 435,657 414,928

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 435,557 414,828
435,657 414,928

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mercury Cars (Ashford) Limited (Registered number: 02922678)

Balance Sheet - continued
28 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:




W L Temple - Director



S L Temple - Director


Mercury Cars (Ashford) Limited (Registered number: 02922678)

Notes to the Financial Statements
For The Year Ended 28 April 2024


1. STATUTORY INFORMATION

Mercury Cars (Ashford) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Mercury Cars (Ashford) Limited (Registered number: 02922678)

Notes to the Financial Statements - continued
For The Year Ended 28 April 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 29 April 2023
and 28 April 2024 2,000
AMORTISATION
At 29 April 2023
and 28 April 2024 1,999
NET BOOK VALUE
At 28 April 2024 1
At 28 April 2023 1

Mercury Cars (Ashford) Limited (Registered number: 02922678)

Notes to the Financial Statements - continued
For The Year Ended 28 April 2024


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 29 April 2023
and 28 April 2024 478,141 208,009 686,150
DEPRECIATION
At 29 April 2023 19,160 117,913 137,073
Charge for year - 22,524 22,524
At 28 April 2024 19,160 140,437 159,597
NET BOOK VALUE
At 28 April 2024 458,981 67,572 526,553
At 28 April 2023 458,981 90,096 549,077

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/4/24 28/4/23
£    £   
Trade debtors 3,477 3,346

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/4/24 28/4/23
£    £   
Bank loans and overdrafts 6,658 14,805
Hire purchase contracts 9,479 9,479
Trade creditors 29,632 24,671
Taxation and social security 60,668 34,457
Other creditors 46,912 58,877
153,349 142,289

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28/4/24 28/4/23
£    £   
Hire purchase contracts 62,003 71,481