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REGISTERED NUMBER: 04069448 (England and Wales)








Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Merseygrid Limited

Merseygrid Limited (Registered number: 04069448)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Merseygrid Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Gilbertson
P H Ramsey
A P Procter





SECRETARY: C Gilbertson





REGISTERED OFFICE: Unit 1
Fairfield House
Binns Road
Liverpool
L7 9NE





REGISTERED NUMBER: 04069448 (England and Wales)





ACCOUNTANTS: Jonathan Ford & Co Limited
Chartered Accountants
Maxwell House
Liverpool Innovation Park
Liverpool
Merseyside
L7 9NJ

Merseygrid Limited (Registered number: 04069448)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,783 3,899
Investments 6 1 1
8,784 3,900

CURRENT ASSETS
Debtors 7 1,734,556 2,171,446
Cash at bank and in hand 8,014 40,732
1,742,570 2,212,178
CREDITORS
Amounts falling due within one year 8 1,457,520 1,894,218
NET CURRENT ASSETS 285,050 317,960
TOTAL ASSETS LESS CURRENT
LIABILITIES

293,834

321,860

CREDITORS
Amounts falling due after more than
one year

9

(86,250

)

(131,250

)

PROVISIONS FOR LIABILITIES (2,036 ) (780 )
NET ASSETS 205,548 189,830

Merseygrid Limited (Registered number: 04069448)

Balance Sheet - continued
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 8,030 8,030
Capital redemption reserve 26 26
Retained earnings 187,492 171,774
SHAREHOLDERS' FUNDS 205,548 189,830

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 13 August 2025 and were signed on its behalf by:





C Gilbertson - Director


Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Merseygrid Limited 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 Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of 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.

Preparation of consolidated financial statements
Since Merseygrid Limited is subject to the small companies regime, group accounts have not been prepared. The financial statements, therefore, contain information about Merseygrid Limited as an individual company and do not contain consolidated financial information as the parent of a group.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Significant judgements and estimates
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

(ii) Impairment of debtors

The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience.

(iii) Deferred tax provisioning

Deferred tax is recognised on all timing differences at the reporting date. The company's timing differences predominantly arise on the differing tax and accounting carrying values of tangible assets. Judgement is exercised by management in determining the useful economic lives and residual values of tangible assets which is relevant in calculating the value of deferred tax liabilities or assets.

Turnover
Turnover represents net invoiced sales of services and service contracts, excluding value added tax. Services turnover is recognised when the company obtains the right to consideration, which is when the service has been performed. In respect of service contracts, turnover is recognised evenly over the duration of the contract.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables and bank loans 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.


Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

3. ACCOUNTING POLICIES - continued
Current tax
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Deferred tax
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted and that are expected to apply to the reversal of the timing difference.

Operating leases
Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Hire purchase and other finance leases
Leases of assets that transfer substantially all the risks and rewards incidental to ownership are classified as finance leases. Such leases are capitalised at commencement of the lease at fair value or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease.

Capitalised finance lease assets are depreciated over the shorter of the lease term and the estimated useful life of the asset and are annually assessed for impairment.

The capital element of finance leases is recorded as a liability at commencement of the lease. Lease payments are apportioned between capital repayment and finance charge using the effective interest rate method. The liability is subsequently carried at amortised cost, using the effective interest rate method.

Pension costs
The company makes contributions into the personal pension schemes of its employees. The contributions are recognised in the period to which they relate.

Employee benefits
Short term benefits, including holiday pay and other non-monetary benefits, are recognised as an expense in the period in which the service is received.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 42 (2023 - 41 ) .

Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2023 33,310 5,800 248,141 287,251
Additions 6,569 - 1,159 7,728
At 30 September 2024 39,879 5,800 249,300 294,979
DEPRECIATION
At 1 October 2023 31,720 5,779 245,853 283,352
Charge for year 732 25 2,087 2,844
At 30 September 2024 32,452 5,804 247,940 286,196
NET BOOK VALUE
At 30 September 2024 7,427 (4 ) 1,360 8,783
At 30 September 2023 1,590 21 2,288 3,899

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Trade debtors 30,622 11,734
Amounts owed by group undertakings 1,637,258 2,100,100
Other debtors 66,676 59,612
1,734,556 2,171,446

Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts 45,000 45,000
Trade creditors 207,778 164,491
Taxation and social security 97,122 108,597
Other creditors 1,107,620 1,576,130
1,457,520 1,894,218

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 86,250 131,250

10. OTHER FINANCIAL COMMITMENTS

The company is committed to pay £14,662 under non-cancellable operating leases.

11. RELATED PARTY DISCLOSURES

Entities with control over the company
Loans due from an entity with control over the company at the balance sheet date amounted to £611,908 (2023 - £1,303,402). The loans are repayable on demand, no interest is being charged and no guarantees have been given.

Services received from an entity with control over the company during the year amounted to £170,000 (2023 - £708,667). There are no fixed payment terms and no guarantees have been given.

12. ULTIMATE CONTROLLING PARTY

The company is controlled by CPRG Limited. CPRG Limited is not controlled by any one individual.

Merseygrid Limited (Registered number: 04069448)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

13. SECURED DEBTS

The company has given security to a group company by way of debenture in respect of amounts drawn down by the group company under an invoice financing agreement. The amount drawn down as at the balance sheet date amounted to £nil (2023: £235,468). The debenture created a fixed and floating charge over the undertaking and all present and future property and assets.

Barclays Bank plc has secured any monies due or to become due by way of a debenture that created a fixed and floating charge over the undertaking and all present and future property and assets. No amounts were due to Barclays Bank plc at the balance sheet date.

HSBC plc has secured any monies due or to become due by way of a debenture that created a fixed and floating charge over the undertaking and all present and future property and assets. The amount due to HSBC plc at the balance sheet date amounted to £131,250 (2023: £171,250).