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Company Registration No. 13602164 (England and Wales)
Mercia Memories Ltd Unaudited accounts for the year ended 31 August 2024
Mercia Memories Ltd Unaudited accounts Contents
Page
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Mercia Memories Ltd Company Information for the year ended 31 August 2024
Director
Greg Ellis Thompson
Company Number
13602164 (England and Wales)
Registered Office
186 Meadowhead SHEFFIELD S8 7UG ENGLAND
Accountants
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT
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Mercia Memories Ltd Accountants' report
Accountants' report to the director of Mercia Memories Ltd on the preparation of the unaudited statutory accounts for the year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mercia Memories Ltd for the year ended 31 August 2024 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Mercia Memories Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Mercia Memories Ltd and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mercia Memories Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Mercia Memories Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Mercia Memories Ltd. You consider that Mercia Memories Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Mercia Memories Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
RAE Business Services (Yorkshire) Limited First Floor 85 Great Portland Street London W1W 7LT 9 May 2025
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Mercia Memories Ltd Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
896,542 
860,000 
Investment property
516,597 
- 
1,413,139 
860,000 
Current assets
Debtors
91,833 
431 
Cash at bank and in hand
15,219 
7,899 
107,052 
8,330 
Creditors: amounts falling due within one year
(15,056)
(17,181)
Net current assets/(liabilities)
91,996 
(8,851)
Total assets less current liabilities
1,505,135 
851,149 
Creditors: amounts falling due after more than one year
(1,429,668)
(803,972)
Provisions for liabilities
Deferred tax
(18,930)
- 
Net assets
56,537 
47,177 
Capital and reserves
Called up share capital
12 
12 
Revaluation reserve
75,619 
62,584 
Profit and loss account
(19,094)
(15,419)
Shareholders' funds
56,537 
47,177 
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 May 2025 and were signed on its behalf by
Greg Ellis Thompson Director Company Registration No. 13602164
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Mercia Memories Ltd Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Mercia Memories Ltd is a private company, limited by shares, registered in England and Wales, registration number 13602164. The registered office is 186 Meadowhead, SHEFFIELD, S8 7UG, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on cost
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Mercia Memories Ltd Notes to the Accounts for the year ended 31 August 2024
4
Tangible fixed assets
Land & buildings 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At 1 September 2023
856,600 
5,100 
861,700 
Revaluations
38,242 
- 
38,242 
At 31 August 2024
894,842 
5,100 
899,942 
Depreciation
At 1 September 2023
- 
1,700 
1,700 
Charge for the year
- 
1,700 
1,700 
At 31 August 2024
- 
3,400 
3,400 
Net book value
At 31 August 2024
894,842 
1,700 
896,542 
At 31 August 2023
856,600 
3,400 
860,000 
5
Investment property
2024 
£ 
Additions
516,597 
At 31 August 2024
516,597 
56.25% of the equity interest in the ground floor of the investment properties, is held on trust for the Director's pension scheme.
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Other debtors
9,500 
431 
Amounts falling due after more than one year
Other debtors
82,333 
- 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Loans from directors
13,604 
13,546 
Accruals
1,452 
3,635 
15,056 
17,181 
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Mercia Memories Ltd Notes to the Accounts for the year ended 31 August 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
840,035 
549,452 
Other creditors
589,633 
254,520 
1,429,668 
803,972 
Aggregate of amounts that fall due for payment after five years
840,035 
549,452 
Included in long term creditors are bank loans secured on investment properties. Personal guarantees have been provided.
9
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of land and buildings
25,207 
- 
Tax losses carried forward
(6,277)
- 
18,930 
- 
2024 
2023 
£ 
£ 
Charged to the profit and loss account
18,930 
- 
Provision at end of year
18,930 
- 
10
Transactions with related parties
Included in long term creditors are loans from related companies of £359,008 (2023 - £254,520). These loans are interest-free and repayable on demand. Included in debtors, is a loan to a related company of £91,833. £9,500 of this loan is due in less than a year. Interest at 6% p.a, has been charged.
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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