Mermaid Accessories Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05886978 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2024

for

Mermaid Accessories Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K H Dai

REGISTERED OFFICE:

164 Commercial Road

London

E1 2JY

REGISTERED NUMBER:

05886978 (England and Wales)

ACCOUNTANTS:

ACL & Co

Chartered Certified Accountants

The Coach House

1 Howard Road

Reigate

RH2 7JE

FIXED ASSETS

Tangible assets

4

69,245

75,868

CURRENT ASSETS

Stocks

198,000

180,000

Debtors

5

21,754

22,614

Cash at bank and in hand

141,701

88,941

361,455

291,555

CREDITORS

Amounts falling due within one year

6

67,483

57,161

NET CURRENT ASSETS

293,972

234,394

TOTAL ASSETS LESS CURRENT
LIABILITIES

363,217

310,262

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

363,215

310,260

SHAREHOLDERS' FUNDS

363,217

310,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 13 March 2025 and were signed by:

K H Dai - Director

1.	STATUTORY INFORMATION

Mermaid Accessories 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.

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.

Tangible fixed assets

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

Short leasehold

-

not provided

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Stocks

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

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 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

COST

At 1 August 2023

and 31 July 2024

33,000

3,250

9,240

DEPRECIATION

At 1 August 2023

-

3,250

9,240

Charge for year

-

At 31 July 2024

-

3,250

9,240

NET BOOK VALUE

At 31 July 2024

33,000

-

At 31 July 2023

33,000

-

Motor

Computer

vehicles

equipment

Totals

£

COST

At 1 August 2023

and 31 July 2024

49,000

3,718

98,208

DEPRECIATION

At 1 August 2023

7,350

2,500

22,340

Charge for year

6,248

375

6,623

At 31 July 2024

13,598

2,875

28,963

NET BOOK VALUE

At 31 July 2024

35,402

843

69,245

At 31 July 2023

41,650

1,218

75,868

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

Rent deposit

11,688

Prepayments

10,066

10,926

21,754

22,614

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.24

31.7.23

£

Trade creditors

23,247

29,726

Taxation and social security

42,002

25,200

Other creditors

2,234

2,235

67,483

57,161

7.	RELATED PARTY DISCLOSURES

The company supply goods to J&J London Accessories Ltd., company with common director and shareholder, during the year of £19,168 (Yr 23 £12,691)

8.	ULTIMATE CONTROLLING PARTY

The controlling party is K H Dai.