REGISTERED NUMBER: 05401232 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Merrifields Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G D G Ellis

SECRETARY:

Mrs A T Ellis

REGISTERED OFFICE:

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

REGISTERED NUMBER:

05401232 (England and Wales)

ACCOUNTANTS:

Franklins

18 St Christopher's Way

Pride Park

Derby

Derbyshire

DE24 8JY

FIXED ASSETS

Intangible assets

4

-

10,000

Tangible assets

5

17,147

19,795

17,147

29,795

CURRENT ASSETS

Debtors

6

189,426

149,654

Cash at bank and in hand

51,455

54,008

240,881

203,662

CREDITORS

Amounts falling due within one year

7

139,256

154,785

NET CURRENT ASSETS

101,625

48,877

TOTAL ASSETS LESS CURRENT LIABILITIES

118,772

78,672

PROVISIONS FOR LIABILITIES

4,139

4,769

NET ASSETS

114,633

73,903

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

114,533

73,803

SHAREHOLDERS' FUNDS

114,633

73,903

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 August 2025 and were signed by:

Mr G D G Ellis - Director

1.	STATUTORY INFORMATION

Merrifields 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 represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of services falling within the company's ordinary activities.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings - 15% on a reducing balance basis

Computer and equipment - 50% on a reducing balance basis

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

200,000

AMORTISATION

At 1 April 2024

190,000

Amortisation for year

10,000

At 31 March 2025

200,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

10,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

23,406

16,485

39,891

Additions

-

1,880

1,880

At 31 March 2025

23,406

18,365

41,771

DEPRECIATION

At 1 April 2024

5,372

14,724

20,096

Charge for year

2,706

1,822

4,528

At 31 March 2025

8,078

16,546

24,624

NET BOOK VALUE

At 31 March 2025

15,328

1,819

17,147

At 31 March 2024

18,034

1,761

19,795

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

52,066

32,614

Other debtors

-

20,975

Directors' current accounts

122,591

83,641

Prepayments and accrued income

14,769

12,424

189,426

149,654

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

25,263

24,758

Tax

59,784

53,757

Social security and other taxes

8,327

7,474

VAT

40,679

36,006

Other creditors

337

28,989

Accruals and deferred income

4,866

3,801

139,256

154,785

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mr G D G Ellis

Balance outstanding at start of year

83,641

93,420

Amounts advanced

135,194

121,728

Amounts repaid

(96,244

)

(131,507

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

122,591

83,641

The director's loan account was fully repaid within nine months of the year end. Interest was charged on the director's loan account at HM Revenue & Customs official rate of interest during the year being 2.25% per annum.

9.	RELATED PARTY TRANSACTIONS

Interest free loans advanced from companies with common directors and under common control amounted to £Nil at 31 March 2025 (2024 - £Nil).