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Registration number: 03042381

Mervyn Brown Associates Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Mervyn Brown Associates Limited

Statement of Financial Position as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,199

2,032

Current assets

 

Debtors

5

64,796

71,887

Cash at bank and in hand

 

160

8

 

64,956

71,895

Creditors: Amounts falling due within one year

6

(49,621)

(64,312)

Net current assets

 

15,335

7,583

Total assets less current liabilities

 

17,534

9,615

Creditors: Amounts falling due after more than one year

6

(8,688)

(13,730)

Provisions for liabilities

(418)

(386)

Net assets/(liabilities)

 

8,428

(4,501)

Capital and reserves

 

Called up share capital

110

110

Retained earnings

8,318

(4,611)

Shareholders' funds/(deficit)

 

8,428

(4,501)

 

Mervyn Brown Associates Limited

Statement of Financial Position as at 29 February 2024

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the director on 18 February 2025
 

.........................................

Mr Peter Lang

Director

Company registration number: 03042381

 

Mervyn Brown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
2nd Floor
London
W1D 5EU

The principal activity of the company is that of consulting structural engineers and architectural design.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a profit for the year and costs can be easily controlled.

After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the director has adopted the going concern basis for the preparation of these financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue based upon the stage of contractual completion of the services provided.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Mervyn Brown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Mervyn Brown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

10,755

10,755

Additions

850

850

At 29 February 2024

11,605

11,605

Depreciation

At 1 March 2023

8,723

8,723

Charge for the year

683

683

At 29 February 2024

9,406

9,406

Carrying amount

At 29 February 2024

2,199

2,199

At 28 February 2023

2,032

2,032

5

Debtors

2024
£

2023
£

Trade debtors

16,850

18,804

Other debtors

47,946

53,083

64,796

71,887

 

Mervyn Brown Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

7

12,847

15,189

Trade creditors

 

-

2,400

Taxation and social security

 

23,704

23,670

Other creditors

 

13,070

23,053

 

49,621

64,312

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

7

8,688

13,730

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank loan

5,035

4,908

Bank overdrafts

7,812

10,281

12,847

15,189

Non-current loans and borrowings

2024
£

2023
£

Bank loan

8,688

13,730

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total future minimum lease payments under non-cancellable operating leases is £2,658 (2023 - £5,795).

9

Transactions with directors

At 28 February 2024 an amount of £33,072 (2023: £32,641) was due from the director. During the year, there were advances of £36,250 and repayments of £36,812. Interest of £993 (2022: £203) has been charged at 2.25% p.a.. There are no set terms in place.