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REGISTERED NUMBER: 08590503 (England and Wales)












MERCURY POWER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024






MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MERCURY POWER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: T M Benfield
S J Elliott
S L Farmer





REGISTERED OFFICE: Robert Denholm House
Bletchingley Road
Nutfield
Surrey
RH1 4HW





REGISTERED NUMBER: 08590503 (England and Wales)

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £
FIXED ASSETS
Intangible assets 4 735 17,733
Tangible assets 5 44,171 28,602
Investments 6 1 -
44,907 46,335

CURRENT ASSETS
Stocks 7 216,420 210,221
Debtors 8 2,990,443 1,343,827
Cash at bank 366,322 311,373
3,573,185 1,865,421
CREDITORS
Amounts falling due within one year 9 (3,072,371 ) (1,308,964 )
NET CURRENT ASSETS 500,814 556,457
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,721

602,792

CREDITORS
Amounts falling due after more than one year 10 (71,826 ) (152,202 )

PROVISIONS FOR LIABILITIES (10,875 ) (11,209 )
NET ASSETS 463,020 439,381

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

BALANCE SHEET - continued
31 JULY 2024

2024 2023
Notes £ £
CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 49,960 49,960
Capital redemption reserve 40 40
Retained earnings 412,920 389,281
463,020 439,381

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 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.

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 Board of Directors and authorised for issue on 28 April 2025 and were signed on its behalf by:





S J Elliott - Director


MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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


1. STATUTORY INFORMATION

Mercury Power 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliable measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

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 - Straight line over 4 years
Office equipment - Straight line over 3 years

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Income Statement, 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.

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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


2. ACCOUNTING POLICIES - continued

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.

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.

Financial assets
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities, which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 27 ) .

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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


4. INTANGIBLE FIXED ASSETS
Develop-
ment costs
£
COST
At 1 August 2023 73,551
Disposals (3,090 )
At 31 July 2024 70,461
AMORTISATION
At 1 August 2023 55,818
Amortisation for year 14,938
Eliminated on disposal (1,030 )
At 31 July 2024 69,726
NET BOOK VALUE
At 31 July 2024 735
At 31 July 2023 17,733

5. TANGIBLE FIXED ASSETS
Plant and Office
machinery equipment Totals
£ £ £
COST
At 1 August 2023 83,743 112,604 196,347
Additions 8,472 28,325 36,797
At 31 July 2024 92,215 140,929 233,144
DEPRECIATION
At 1 August 2023 78,011 89,734 167,745
Charge for year 5,770 15,458 21,228
At 31 July 2024 83,781 105,192 188,973
NET BOOK VALUE
At 31 July 2024 8,434 35,737 44,171
At 31 July 2023 5,732 22,870 28,602

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
Additions 1
At 31 July 2024 1
NET BOOK VALUE
At 31 July 2024 1

7. STOCKS
2024 2023
£ £
Stocks 216,420 210,221

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,588,794 1,106,033
Other debtors 401,649 237,794
2,990,443 1,343,827

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 80,000 80,000
Hire purchase contracts 14,613 10,122
Trade creditors 981,534 658,721
Taxation and social security 582,305 354,136
Other creditors 1,413,919 205,985
3,072,371 1,308,964

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 66,667 146,667
Hire purchase contracts 5,159 5,535
71,826 152,202

MERCURY POWER LIMITED (REGISTERED NUMBER: 08590503)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans 146,667 226,667
Hire purchase contracts 19,772 15,657
166,439 242,324

The bank loan is secured by a fixed and floating charge over the company's assets. The hire purchase liabilities are secured against the assets to which the agreements relate.

12. OTHER FINANCIAL COMMITMENTS

As at the year-end, the company had future commitments under operating leases totalling £146,232 (2023: £297,029).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £60,000 (2023: £149,030) and repayments of £167,120 (2023: £100,903) were made to/from the company's directors. At 31 July 2024 £41,910 (2023: £149,030) was outstanding. The balances do not attract interest and are repayable upon demand.