Company registration number 04558210 (England and Wales)
MERIT SCHOOL OF MOTORING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
MERIT SCHOOL OF MOTORING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
MERIT SCHOOL OF MOTORING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
3
1,394
1,526
Cash at bank and in hand
30,370
26,083
31,764
27,609
Creditors: amounts falling due within one year
4
(11,401)
(12,855)
Net current assets
20,363
14,754
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
20,362
14,753
Total equity
20,363
14,754
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 4 August 2025
Mr M Adwaney
Director
Company registration number 04558210 (England and Wales)
MERIT SCHOOL OF MOTORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
Merit School of Motoring Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kalamu House, 11 Coldbath Square, London, EC1R 5HL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business,
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
MERIT SCHOOL OF MOTORING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,263
1,395
Other debtors
131
131
1,394
1,526
4
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
8,419
7,949
Other creditors
2,982
4,906
11,401
12,855
5
Called up share capital
2025
2024
Ordinary share capital
£
£
Issued and fully paid
1 Ordinary share of £1 each
1
1
6
Related party transactions
At the balance sheet date, the balance due to the director amounted to £751 (2024: £2,197).
The loan is unsecured, interest free and repayable on demand.