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REGISTERED NUMBER: 07325848 (England and Wales)











Unaudited Financial Statements

for the Period 1 April 2023 to 30 March 2024

for

Mercia Electrics Ltd

Mercia Electrics Ltd (Registered number: 07325848)






Contents of the Financial Statements
for the Period 1 April 2023 to 30 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mercia Electrics Ltd

Company Information
for the Period 1 April 2023 to 30 March 2024







DIRECTORS: K Twaites
P Twaites





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
CV3 1JN





REGISTERED NUMBER: 07325848 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Mercia Electrics Ltd (Registered number: 07325848)

Balance Sheet
30 March 2024

30.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,800,000 1,800,000

CURRENT ASSETS
Debtors 5 13,476 207,475
Cash at bank 1,057 450
14,533 207,925
CREDITORS
Amounts falling due within one year 6 750,224 913,478
NET CURRENT LIABILITIES (735,691 ) (705,553 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,064,309

1,094,447

CREDITORS
Amounts falling due after more than one
year

7

(502,774

)

(529,694

)

PROVISIONS FOR LIABILITIES (153,012 ) (158,720 )
NET ASSETS 408,523 406,033

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 9 459,036 476,161
Retained earnings (50,514 ) (70,129 )
SHAREHOLDERS' FUNDS 408,523 406,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 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.

Mercia Electrics Ltd (Registered number: 07325848)

Balance Sheet - continued
30 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:




K Twaites - Director



P Twaites - Director


Mercia Electrics Ltd (Registered number: 07325848)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 March 2024

1. STATUTORY INFORMATION

Mercia Electrics Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 30 March 2024 1,800,000
NET BOOK VALUE
At 30 March 2024 1,800,000
At 31 March 2023 1,800,000

Mercia Electrics Ltd (Registered number: 07325848)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 30 March 2024 is represented by:
£   
Valuation in 2020 602,382
Valuation in 2022 32,500
Cost 1,165,118
1,800,000

Investment properties were valued on an open market basis on 23/03/2020 by Aitchison Raffety, this was based on estimated values upon completion of the construction works, which were concluded in 2022.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Amounts owed by group undertakings 833 193,700
Other debtors 12,643 13,775
13,476 207,475

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.3.24 31.3.23
£    £   
Bank loans and overdrafts 24,917 28,634
Trade creditors 730 1,908
Amounts owed to group undertakings 701,556 496,475
Taxation and social security 15,501 11,747
Other creditors 7,520 374,714
750,224 913,478

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.3.24 31.3.23
£    £   
Bank loans 474,318 495,520
Other creditors 28,456 34,174
502,774 529,694

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 374,650 380,985
Other loans more 5yrs instal 4,158 10,477
378,808 391,462

Mercia Electrics Ltd (Registered number: 07325848)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 March 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.3.24 31.3.23
£    £   
Bank loans 499,235 524,154

The bank borrowings are secured by a debenture comprising a fixed and floating charge over all the assets and undertakings of the company. Personal guarantees have also been provided by the directors in respect of these loans..

9. RESERVES
Revaluation
reserve
£   
At 1 April 2023 476,161
Non Distributable Reserves (17,125 )

At 30 March 2024 459,036

The revaluation reserve relates to non distributable reserves that have arisen due to the revaluation of the investment property in prior years.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party are the directors by virtue of their shareholding within K&P Twaites Property Limited, the ultimate parent company.