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
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
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
Mercia Memories Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
896,542
860,000
Investment property
516,597
-
Cash at bank and in hand
15,219
7,899
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
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
Mercia Memories Ltd
Notes to the Accounts
for the year ended 31 August 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 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.
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
At 1 September 2023
-
1,700
1,700
Charge for the year
-
1,700
1,700
At 31 August 2024
-
3,400
3,400
At 31 August 2024
894,842
1,700
896,542
At 31 August 2023
856,600
3,400
860,000
56.25% of the equity interest in the ground floor of the investment properties, is held on trust for the Director's pension scheme.
Amounts falling due within one year
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
13,604
13,546
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
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)
-
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).