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Registration number: 03350664

Merlin Lazer Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Merlin Lazer Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Merlin Lazer Ltd

Company Information

Directors

N Hamilton

S Hamilton

Registered office

C/O TN6 Ltd
Pine Grove Enterprise Centre
Pine Grove
Crowborough
East Sussex
TN6 1DH

 

Merlin Lazer Ltd

(Registration number: 03350664)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

6,840

9,120

Tangible assets

5

111,543

135,545

Other financial assets

279,023

301,703

 

397,406

446,368

Current assets

 

Stocks

6

364,860

342,821

Debtors

7

230,966

220,833

Cash at bank and in hand

 

1,447,512

1,357,317

 

2,043,338

1,920,971

Creditors: Amounts falling due within one year

8

(365,224)

(343,139)

Net current assets

 

1,678,114

1,577,832

Total assets less current liabilities

 

2,075,520

2,024,200

Provisions for liabilities

(70,964)

(82,633)

Net assets

 

2,004,556

1,941,567

Capital and reserves

 

Called up share capital

2

2

Revaluation reserve

135,947

152,956

Retained earnings

1,868,607

1,788,609

Shareholders' funds

 

2,004,556

1,941,567

 

Merlin Lazer Ltd

(Registration number: 03350664)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 August 2025 and signed on its behalf by:
 

.........................................
S Hamilton
Director

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
C/O TN6 Ltd
Pine Grove Enterprise Centre
Pine Grove
Crowborough
East Sussex
TN6 1DH

These financial statements were authorised for issue by the Board on 19 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Value

Fixtures and Fittings

25% Reducing Value

Computer Equipment

25% Reducing Value

Motor Vehices

20% Reducing Value

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website

5 Year S/L

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Website
 £

Total
£

Cost

At 1 April 2024

11,400

11,400

At 31 March 2025

11,400

11,400

Amortisation

At 1 April 2024

2,280

2,280

Amortisation charge

2,280

2,280

At 31 March 2025

4,560

4,560

Carrying amount

At 31 March 2025

6,840

6,840

At 31 March 2024

9,120

9,120

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost

At 1 April 2024

59,792

50,413

134,594

20,794

265,593

Additions

-

6,373

-

684

7,057

Disposals

-

(2,239)

-

-

(2,239)

At 31 March 2025

59,792

54,547

134,594

21,478

270,411

Depreciation

At 1 April 2024

59,792

32,644

26,919

10,693

130,048

Charge for the year

-

5,343

21,535

3,114

29,992

Eliminated on disposal

-

(1,172)

-

-

(1,172)

At 31 March 2025

59,792

36,815

48,454

13,807

158,868

Carrying amount

At 31 March 2025

-

17,732

86,140

7,671

111,543

At 31 March 2024

-

17,769

107,675

10,101

135,545

Included within the net book value of land and buildings above is £Nil (2024 - £Nil) in respect of freehold land and buildings.
 

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Stocks

2025
£

2024
£

Finished goods and goods for resale

364,860

342,821

7

Debtors

Current

2025
£

2024
£

Trade debtors

197,754

144,391

Prepayments

14,337

13,321

Other debtors

18,875

63,121

 

230,966

220,833

At the year end the company was owed £18,874 by the directors (2024: £52,468). This loan has been repaid in full after the year end.

8

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

56,283

45,484

Taxation and social security

49,694

22,758

Accruals and deferred income

5,422

5,119

Other creditors

253,825

269,778

365,224

343,139

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

-

17,009

17,009

Surplus/deficit on revaluation of other assets

(17,009)

-

(17,009)

(17,009)

17,009

-

 

Merlin Lazer Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/deficit on property, plant and equipment revaluation

-

(15,475)

(15,475)

Surplus/deficit on revaluation of other assets

15,475

-

15,475

15,475

(15,475)

-

10

Related party transactions

During the year, the company invoiced £202,280 (2024: £209,080) to Kootoo Limited, a company controlled by one of the directors. Included in trade debtors is a balance owed by Kootoo Limited of £40,272 (2024: £Nil).