Mermaid Conference & Events Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03455144 (England and Wales)

Mermaid Conference & Events Limited

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr R E Littman

Mr R S S Joory

REGISTERED OFFICE:

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

REGISTERED NUMBER:

03455144 (England and Wales)

AUDITORS:

Salisbury & Company Business Solutions Limited

Statutory Auditors

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

FIXED ASSETS

Tangible assets

4

805,535

904,662

CURRENT ASSETS

Stocks

3,481

2,859

Debtors

5

197,085

188,620

Cash at bank

1,166,989

849,702

1,367,555

1,041,181

CREDITORS

Amounts falling due within one year

6

2,613,397

2,409,010

NET CURRENT LIABILITIES

(1,245,842

)

(1,367,829

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(440,307

)

(463,167

)

CREDITORS

Amounts falling due after more than one
year

7

(50,000

)

(100,000

)

PROVISIONS FOR LIABILITIES

9

(17,807

)

(12,436

)

NET LIABILITIES

(508,114

)

(575,603

)

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

(508,115

)

(575,604

)

SHAREHOLDERS' FUNDS

(508,114

)

(575,603

)

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 22 September 2025 and were signed on its behalf by:

Mr R E Littman - Director

1.	STATUTORY INFORMATION

Mermaid Conference & Events 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.

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.

Wet revenue is recognised upon receipt and venue hire is recognised in the month of hire.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

in accordance with the property

Improvements to property

-

20% on cost

Fixtures and fittings

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised costs, except of investments in non convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leasehold property

Leasehold property is stated at historical cost.

In the opinion of the directors the market value of the company's lease is in excess of the historical cost.

The lease has been amortised over 20 years.

Going concern

The company's liabilities exceed it's assets.

The directors consider that the company is profitable and will be able to meet its liabilities as they fall due.

The accounts have been prepared on a going concern basis which the directors consider to be appropriate. This basis is dependent upon the continued support of the company's group entities.The financial statements do not include any adjustments that would result from the withdrawal of this support.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Long

to

and

leasehold

property

fittings

Totals

£

COST

At 1 January 2024

2,098,035

200,671

835,728

3,134,434

Additions

-

15,495

At 31 December 2024

2,098,035

200,671

851,223

3,149,929

DEPRECIATION

At 1 January 2024

1,258,824

200,671

770,277

2,229,772

Charge for year

104,902

-

9,720

114,622

At 31 December 2024

1,363,726

200,671

779,997

2,344,394

NET BOOK VALUE

At 31 December 2024

734,309

-

71,226

805,535

At 31 December 2023

839,211

-

65,451

904,662

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

80,432

83,285

Other debtors

900

Prepayments and accrued income

115,753

104,435

197,085

188,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

50,000

Trade creditors

336,950

179,105

Amounts owed to group undertakings

1,267,595

1,295,595

Tax

13,628

128

Social security and other taxes

13,572

13,839

VAT

58,833

62,355

Other creditors

12,702

12,457

Accruals and deferred income

860,117

795,531

2,613,397

2,409,010

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 2-5 years

50,000

100,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

100,000

150,000

9.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

17,807

12,436

Deferred

tax

£

Balance at 1 January 2024

12,436

Provided during year

5,371

Balance at 31 December 2024

17,807

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jason Matischok FMAAT FCA (Senior Statutory Auditor)

for and on behalf of Salisbury & Company Business Solutions Limited

11.	RELATED PARTY DISCLOSURES

The directors consider that all transactions with related parties have been concluded under normal market conditions.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Plumtree Investments Limited.

The immediate parent undertaking is Puddle Dock (Holdings) Limited, whose registered and trading address is Irish square, Upper Denbigh road, St Asaph, LL17 0RN