Registered number
04565819
Merlin Office Supplies Limited
Filleted Accounts
31 July 2024
Merlin Office Supplies Limited
Registered number: 04565819
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 542 872
Current assets
Stocks 2,244 4,912
Debtors 5 35,559 45,992
Cash at bank and in hand 1,077 7
38,880 50,911
Creditors: amounts falling due within one year 6 (122,661) (117,854)
Net current liabilities (83,781) (66,943)
Total assets less current liabilities (83,239) (66,071)
Creditors: amounts falling due after more than one year 7 (75,700) (83,395)
Net liabilities (158,939) (149,466)
Capital and reserves
Called up share capital 100 100
Profit and loss account (159,039) (149,566)
Shareholder's funds (158,939) (149,466)
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 her 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.
Miss B A Richards
Director
Approved by the board on 11 April 2025
Merlin Office Supplies Limited
Notes to the Accounts
for the year ended 31 July 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Office building 20% straight line
Motor vehicles 25% reducing balance
Office equipment 15% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 120,000
At 31 July 2024 120,000
Amortisation
At 1 August 2023 120,000
At 31 July 2024 120,000
Net book value
At 31 July 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 9,770 29,278 19,957 59,005
At 31 July 2024 9,770 29,278 19,957 59,005
Depreciation
At 1 August 2023 9,770 29,129 19,234 58,133
Charge for the year - 149 181 330
At 31 July 2024 9,770 29,278 19,415 58,463
Net book value
At 31 July 2024 - - 542 542
At 31 July 2023 - 149 723 872
5 Debtors 2024 2023
£ £
Trade debtors 31,632 41,085
Other debtors 3,927 4,907
35,559 45,992
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,810 9,810
Trade creditors 26,001 24,745
Taxation and social security costs 3,954 3,652
Other creditors 82,896 79,647
122,661 117,854
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 15,700 23,395
Other creditors 60,000 60,000
75,700 83,395
8 Related party transactions
Other creditors include an amount due to Miss B A Richards, a director of the company. The amount due at the year end was £142,095 (2023 - £138,849).
9 Controlling party
The ultimate controlling party is Miss B A Richards.
10 Other information
Merlin Office Supplies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 7-8 Northbrook Close
Gregory Mills Ind Estate
Worcester
WR3 8BP
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