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REGISTERED NUMBER: 06127081 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FORMULA MERCHANTS LTD

FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FORMULA MERCHANTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: A J Hieatt





REGISTERED OFFICE: Unit 16 Woking Business Park
Albert Drive
Woking
Surrey
GU21 5JY





REGISTERED NUMBER: 06127081 (England and Wales)





ACCOUNTANTS: Jamesons Limited
Jamesons House
Compton Way
Witney
OX28 3AB

FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes €    €    €    €   
FIXED ASSETS
Investments 4 560,320 560,320

CURRENT ASSETS
Stocks 2,625 2,625
Debtors 5 588,141 443,661
Cash at bank 85,383 124,319
676,149 570,605
CREDITORS
Amounts falling due within one year 6 932,239 826,948
NET CURRENT LIABILITIES (256,090 ) (256,343 )
TOTAL ASSETS LESS CURRENT LIABILITIES 304,230 303,977

CREDITORS
Amounts falling due after more than one
year

7

8,082

18,836
NET ASSETS 296,148 285,141

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 296,147 285,140
SHAREHOLDERS' FUNDS 296,148 285,141

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

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

The director acknowledges his 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.

FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 June 2025 and were signed by:





A J Hieatt - Director


FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)

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

1. STATUTORY INFORMATION

Formula Merchants Ltd 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 Euro (€).


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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
€   
COST
At 1 January 2024
and 31 December 2024 560,320
NET BOOK VALUE
At 31 December 2024 560,320
At 31 December 2023 560,320

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Trade debtors 535,606 391,126
Other debtors 52,535 52,535
588,141 443,661

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
€    €   
Bank loans and overdrafts 10,000 10,000
Trade creditors 80,086 52,172
Taxation and social security 24,798 27,782
Other creditors 817,355 736,994
932,239 826,948

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
€    €   
Bank loans 8,082 18,836

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
€    €   
Within one year - 1,138

FORMULA MERCHANTS LTD (REGISTERED NUMBER: 06127081)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
€    €   
Bank loans 18,082 28,836

The bank loan is secured by a personal guarantee.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: €    €   
1 Ordinary £1 1 1