Registered number
03247516
Merlinward Limited
Filleted Accounts
30 September 2024
Merlinward Limited
Registered number: 03247516
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 658,226 538,689
Current assets
Debtors 4 80,823 75,542
Cash at bank and in hand 26,361 24,098
107,184 99,640
Creditors: amounts falling due within one year 5 (98,985) (103,258)
Net current assets/(liabilities) 8,199 (3,618)
Total assets less current liabilities 666,425 535,071
Creditors: amounts falling due after more than one year 6 (152,922) (82,803)
Net assets 513,503 452,268
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 512,503 451,268
Shareholder's funds 513,503 452,268
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N Lake
Director
Approved by the board on 4 March 2025
Merlinward Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Additions to freehold buildings over 5 years
Plant and machinery over 3-10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Unrelieved tax losses are recognised only to the extent that it is probable that they will be recovered against future taxable profits. Current tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 October 2023 537,799 7,950 545,749
Additions 124,332 - 124,332
Disposals (4,707) (200) (4,907)
At 30 September 2024 657,424 7,750 665,174
Depreciation
At 1 October 2023 - 7,060 7,060
Charge for the year - 88 88
On disposals - (200) (200)
At 30 September 2024 - 6,948 6,948
Net book value
At 30 September 2024 657,424 802 658,226
At 30 September 2023 537,799 890 538,689
4 Debtors 2024 2023
£ £
Other debtors 80,823 75,542
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 19,200 31,859
Trade creditors 1,828 -
Taxation and social security costs 19,920 13,068
Other creditors 58,037 58,331
98,985 103,258
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 34,464 79,544
Other creditors 118,458 3,259
152,922 82,803
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 34,464 111,403
[Give an indication of the nature and form of the security for the bank loans]
8 Capital commitments 2024 2023
£ £
Amounts contracted for but not provided in the accounts - 110,000
9 Controlling party
The company is controlled by N Lake the director.
10 Other information
Merlinward Limited is a private company limited by shares and incorporated in England. Its registered office is:
First Floor, 12 St. John's Way
St. John's Business Estate
Downham Market
Norfolk
PE38 0QQ
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