| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| MERLIN FINANCIAL CONSULTANTS LIMITED |
| REGISTERED NUMBER: |
| STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| MERLIN FINANCIAL CONSULTANTS LIMITED |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Strategic Report | 2 |
| Report of the Director | 4 |
| Income Statement | 5 |
| Statement of Financial Position | 6 |
| Notes to the Financial Statements | 8 |
| MERLIN FINANCIAL CONSULTANTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The director presents his strategic report for the year ended 30 September 2024. |
| The purpose of the Strategic Report is to inform shareholders and help them to assess how the directors have performed their duties to promote the success of the company. The report, together with the further information in the Directors' Report, provides a fair and balanced review of the company's business including the development and performance of the business during the year, the position of the company at the end of the year and a description of the principal risks and uncertainties facing the company. |
| REVIEW AND ANALYSIS OF THE BUSINESS DURING THE CURRENT YEAR |
| The company was authorised and regulated by the Financial Conduct Authority (FCA) until 28 October 2021 when our application to deregister was granted. Since then the company has simply administered the collection of occasional income still occurring from earlier engagements and related matters arising. |
| As reported in the company's income statement revenue has decreased by 52.48% from £3.6k to £1.9k in the current period. Profit before tax has decreased from £2.5k to £0.8k. The results for the year and the financial position at the year end were considered satisfactory by the directors. |
| KEY PERFORMANCE INDICATORS |
| The directors used a range of performance measures to monitor and manage the business. As set out below the following financial statistics were considered to be the key performance indicators for the company. |
| 2024 | 2023 |
| £ | £ |
EBITA |
1,487 |
3,371 |
| (earnings before interest, taxation and amortization) |
Turnover |
1,730 |
3,641 |
Profit/(Loss) before tax |
881 |
2,506 |
Shareholders' funds |
100,914 |
105,200 |
| THE FINANCIAL POSITION OF THE COMPANY AT THE YEAR END |
| At the year end, the company had a post tax profit of £0.7k and a decrease in shareholders' funds from £105k to 100k. |
| FUTURE DEVELOPMENTS |
| The company has not traded since the end of October 2021 and is, effectively, dormant. There are no current plans for any future activity. |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| STRATEGIC REPORT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| PRINCIPAL RISKS AND UNCERTAINTIES FACING THE BUSINESS |
| Following the cessation of trading by the company in October 2021, the directors do not consider there are any material risks or uncertainties facing the business. |
| Financial instruments |
| Financial risk management relates to risk to the company in respect of its own assets and liabilities. The company has very limited exposure to financial instruments in respect of its own assets and liabilities. They include cash deposits and trade receivables and trade payables. |
| ON BEHALF OF THE BOARD: |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| REPORT OF THE DIRECTOR |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| The director presents his report with the financial statements of the company for the year ended 30 September 2024. |
| DIVIDENDS |
| Dividends of £0.05 per share (2023 £0.36)were paid on the Ordinary shares. |
| DIRECTOR |
| Mr J A Plinston is also a director and shareholder of Opera Holdings Limited, the ultimate parent company. |
| DISCLOSURE IN THE STRATEGIC REPORT |
| As permitted by paragraph 1A of schedule 7 to the Large and Medium-sized Companies and Groups (Accounts and Reports) regulations 2008 certain matters which are required to be disclosed in the directors' report have been omitted as they are included in the Strategic Report on pages 2 and 3. These matters relate to financial instruments and future developments. |
| ON BEHALF OF THE BOARD: |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| INCOME STATEMENT |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER |
| Administrative expenses |
| OPERATING PROFIT | 4 |
| Interest receivable and similar income |
| 1,487 | 3,371 |
| Interest payable and similar expenses |
| PROFIT BEFORE TAXATION |
| Tax on profit |
| PROFIT FOR THE FINANCIAL YEAR |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the director and authorised for issue on |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Merlin Financial Consultants Limited is a |
| 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention on the going concern basis. Should the company require any support to meet its obligations over the following 12 months, this will be provided by the parent company or the directors. |
| Turnover |
| Turnover represents commissions receivable. |
| Financial instruments |
| Basic financial assets, which include debtors 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 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price 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. Financial liabilities classified as payable within one year are not amortised. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| MERLIN FINANCIAL CONSULTANTS LIMITED (REGISTERED NUMBER: 02214075) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | OPERATING PROFIT |
| The operating profit is stated after charging: |
| 2024 | 2023 |
| £ | £ |
| 5. | DIVIDENDS |
| 2024 | 2023 |
| £ | £ |
| Ordinary shares of £1 each |
| Interim |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts due from group |
| undertakings | 101,000 | 134,500 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Corporation tax |
| Accrued expenses |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |