Company No: 05242475 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	1,664		2,220
		1,664		2,220
Current assets
Debtors	4	21,559		29,671
Cash at bank and in hand		73,847		95,867
		95,406		125,538
Creditors: amounts falling due within one year	5	( 17,363)		( 32,131)
Net current assets		78,043		93,407
Total assets less current liabilities		79,707		95,627
Creditors: amounts falling due after more than one year	6	( 2,176)		( 6,275)
Provision for liabilities		( 168)		( 233)
Net assets		77,363		89,119
Capital and reserves
Called-up share capital	7	1,000		1,000
Profit and loss account		76,363		88,119
Total shareholders' funds		77,363		89,119

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Mercator Partnership Limited (registered number: 05242475) were approved and authorised for issue by the Director on 23 September 2025. They were signed on its behalf by:

Mr E A S Nicholson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mercator Partnership Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Parsonage Hoxall Lane, Mottistone, Newport, PO30 4EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration.

Services are measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Invoices are not raised until a contract is complete so the value of incomplete services is included in Amounts recoverable on contracts in the balance sheet.

Taxation

Current 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 corporation 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
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Classification

The company holds the following financial instruments:
- Short term trade and other debtors and creditors; and
- Cash and bank balances.

All financial instruments are classified as basic.


Recognition and measurement

The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 January 2024	12,878		12,878
At 31 December 2024	12,878		12,878
Accumulated depreciation
At 01 January 2024	10,658		10,658
Charge for the financial year	556		556
At 31 December 2024	11,214		11,214
Net book value
At 31 December 2024	1,664		1,664
At 31 December 2023	2,220		2,220

4. Debtors

	2024		2023
	£		£
Corporation tax	3,380		3,380
Other debtors	18,179		26,291
	21,559		29,671

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	4,157		4,056
Other loans	0		15,000
Accruals	12,820		12,720
Other taxation and social security	386		355
	17,363		32,131

6. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	2,176		6,275

7. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each	1,000		1,000

8. Mr E A S Nicholson

Loan charging interest at ORI, repayable on demand

	2024		2023
	£		£
Opening balance	11,291		18,583
Advances to director	24,737		20,056
Repayments by director	(17,849)		(27,348)
	18,179		11,291