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REGISTERED NUMBER: 09035678 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JULY 2024

FOR

MERSEY BULK BAGS LIMITED

MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERSEY BULK BAGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JULY 2024







DIRECTORS: G Duffy
J R Ferris
Z M Shimmin



REGISTERED OFFICE: 10 Nicholas Street
Chester
Cheshire
CH1 2NX



REGISTERED NUMBER: 09035678 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
10 Nicholas Street
Chester
CH1 2NX



BANKERS: Lloyds Bank plc
Market Place
Ilkeston
DE7 8GS

MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)

BALANCE SHEET
31ST JULY 2024

31.7.24 31.7.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 5,934 7,099

CURRENT ASSETS
Stocks 5 38,560 59,000
Debtors 6 91,196 74,625
Cash at bank and in hand 16,929 9,843
146,685 143,468
CREDITORS
Amounts falling due within one year 7 70,310 98,003
NET CURRENT ASSETS 76,375 45,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,309

52,564

CREDITORS
Amounts falling due after more than one
year

8

(8,816

)

(16,667

)

PROVISIONS FOR LIABILITIES 10 (1,484 ) (1,349 )
NET ASSETS 72,009 34,548

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 71,909 34,448
SHAREHOLDERS' FUNDS 72,009 34,548

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

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

The directors acknowledge their 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.

MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)

BALANCE SHEET - continued
31ST JULY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9th December 2024 and were signed on its behalf by:





G Duffy - Director


MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JULY 2024

1. STATUTORY INFORMATION

Mersey Bulk Bags Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1st August 2023
and 31st July 2024 7,950 914 10,495 19,359
DEPRECIATION
At 1st August 2023 3,725 394 8,141 12,260
Charge for year 423 153 589 1,165
At 31st July 2024 4,148 547 8,730 13,425
NET BOOK VALUE
At 31st July 2024 3,802 367 1,765 5,934
At 31st July 2023 4,225 520 2,354 7,099

5. STOCKS
31.7.24 31.7.23
£    £   
Stocks 38,560 59,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 79,161 73,438
Prepayments 12,035 1,187
91,196 74,625

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 8,000 8,000
Trade creditors 9,183 59,221
Tax 24,254 2,008
Social security and other taxes 72 -
VAT 16,238 17,349
Directors' current accounts 10,713 9,850
Accrued expenses 1,850 1,575
70,310 98,003

MERSEY BULK BAGS LIMITED (REGISTERED NUMBER: 09035678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JULY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans - 1-2 years 8,000 8,000
Bank loans - 2-5 years 816 8,667
8,816 16,667

9. SECURED DEBTS

The following secured debts are included within creditors:

31.7.24 31.7.23
£    £   
Bank loans 16,816 24,667

10. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax
Accelerated capital allowances 1,484 1,349

Deferred
tax
£   
Balance at 1st August 2023 1,349
Movement in the year due to:
changes in tax rates 357
changes in tax allowances (222 )
Balance at 31st July 2024 1,484

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary £1 100 100

12. CAPITAL COMMITMENTS
31.7.24 31.7.23
£    £   
Contracted but not provided for in the
financial statements - -