Mercatura Developments Limited 08292452 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is that of property development Digita Accounts Production Advanced 6.30.9574.0 true false true 08292452 2023-12-01 2024-11-30 08292452 2024-11-30 08292452 core:RetainedEarningsAccumulatedLosses 2024-11-30 08292452 core:ShareCapital 2024-11-30 08292452 core:CurrentFinancialInstruments 2024-11-30 08292452 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 08292452 core:Non-currentFinancialInstruments 2024-11-30 08292452 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 08292452 core:MotorVehicles 2024-11-30 08292452 core:OfficeEquipment 2024-11-30 08292452 core:PlantMachinery 2024-11-30 08292452 bus:SmallEntities 2023-12-01 2024-11-30 08292452 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 08292452 bus:FilletedAccounts 2023-12-01 2024-11-30 08292452 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 08292452 bus:RegisteredOffice 2023-12-01 2024-11-30 08292452 bus:CompanySecretaryDirector1 2023-12-01 2024-11-30 08292452 bus:Director1 2023-12-01 2024-11-30 08292452 bus:Director3 2023-12-01 2024-11-30 08292452 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 08292452 core:MotorVehicles 2023-12-01 2024-11-30 08292452 core:OfficeEquipment 2023-12-01 2024-11-30 08292452 core:PlantMachinery 2023-12-01 2024-11-30 08292452 countries:EnglandWales 2023-12-01 2024-11-30 08292452 2023-11-30 08292452 core:CostValuation 2023-11-30 08292452 core:MotorVehicles 2023-11-30 08292452 core:OfficeEquipment 2023-11-30 08292452 core:PlantMachinery 2023-11-30 08292452 2022-12-01 2023-11-30 08292452 2023-11-30 08292452 core:RetainedEarningsAccumulatedLosses 2023-11-30 08292452 core:ShareCapital 2023-11-30 08292452 core:CurrentFinancialInstruments 2023-11-30 08292452 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 08292452 core:Non-currentFinancialInstruments 2023-11-30 08292452 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 08292452 core:MotorVehicles 2023-11-30 08292452 core:OfficeEquipment 2023-11-30 08292452 core:PlantMachinery 2023-11-30 08292452 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-11-30 08292452 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-01 2023-11-30 08292452 2022-11-30 08292452 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 08292452

Mercatura Developments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Mercatura Developments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Mercatura Developments Limited

Company Information

Directors

Mr MJ Keller

Mrs TE Keller

Mr A D C Horsefield

Company secretary

Mrs TE Keller

Registered office

1-2 Rhodium Point Hawkinge Business Park
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Mercatura Developments Limited

(Registration number: 08292452)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

33,455

46,806

Investment property

5

1,077,447

1,077,447

Investments

6

20,625

20,625

Other financial assets

1,740,636

1,713,585

 

2,872,163

2,858,463

Current assets

 

Stocks

7

1,197,252

605,750

Debtors

8

1,412,117

1,321,815

Cash at bank and in hand

 

80,454

56,277

 

2,689,823

1,983,842

Creditors: Amounts falling due within one year

9

(2,172,432)

(1,408,094)

Net current assets

 

517,391

575,748

Total assets less current liabilities

 

3,389,554

3,434,211

Creditors: Amounts falling due after more than one year

9

(621,500)

(621,500)

Provisions for liabilities

(814)

(2,134)

Net assets

 

2,767,240

2,810,577

Capital and reserves

 

Called up share capital

100

100

Retained earnings

2,767,140

2,810,477

Shareholders' funds

 

2,767,240

2,810,577

 

Mercatura Developments Limited

(Registration number: 08292452)
Balance Sheet as at 30 November 2024 (continued)

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Mr MJ Keller
Director

   
     
 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
1-2 Rhodium Point Hawkinge Business Park
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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 when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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.

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 balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Office equipment

2 years straight line

Plant and machinery

10 years straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

2

Accounting policies (continued)

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 profit and loss account 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.

3

Staff numbers

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

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

1,410

15,124

49,280

65,814

Additions

283

2,284

-

2,567

At 30 November 2024

1,693

17,408

49,280

68,381

Depreciation

At 1 December 2023

164

4,984

13,860

19,008

Charge for the year

147

6,916

8,855

15,918

At 30 November 2024

311

11,900

22,715

34,926

Carrying amount

At 30 November 2024

1,382

5,508

26,565

33,455

At 30 November 2023

1,246

10,140

35,420

46,806

5

Investment properties

2024
£

At 1 December

1,077,447

At 30 November

1,077,447

There has been no valuation of investment property by an independent valuer.

6

Investments

2024
£

2023
£

Investments in subsidiaries

20,625

20,625

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

6

Investments (continued)

Subsidiaries

£

Cost or valuation

At 1 December 2023

20,625

Provision

Carrying amount

At 30 November 2024

20,625

At 30 November 2023

20,625

7

Stocks

2024
£

2023
£

Other inventories

1,197,252

605,750

8

Debtors

Current

2024
£

2023
£

Trade debtors

425,101

300,198

Prepayments

3,537

80,999

Other debtors

983,479

940,618

 

1,412,117

1,321,815

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

2,172,432

1,408,094

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

621,500

621,500

 

Mercatura Developments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

621,500

621,500

11

Related party transactions

Loans from related parties

2023

Key management
£

Total
£

At start of period

322,072

322,072

Repaid

(322,072)

(322,072)

At end of period

-

-