Company Registration No. 10153656 (England and Wales)
Mercantem Limited
Unaudited accounts
for the year ended 31 March 2025
Mercantem Limited
Unaudited accounts
Contents
Mercantem Limited
Statement of financial position
as at 31 March 2025
Investment property
350,000
350,000
Debtors
1,717,251
1,603,501
Cash at bank and in hand
41,125
189,100
Creditors: amounts falling due within one year
(2,402,000)
(2,224,875)
Net current liabilities
(643,624)
(432,274)
Net liabilities
(293,624)
(82,274)
Called up share capital
1
1
Profit and loss account
(293,625)
(82,275)
Shareholders' funds
(293,624)
(82,274)
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
Mr Corin Thoday
Director
Company Registration No. 10153656
Mercantem Limited
Notes to the Accounts
for the year ended 31 March 2025
Mercantem Limited is a private company, limited by shares, registered in England and Wales, registration number 10153656. The registered office is 11-13 Riverside Road, Norwich, Norfolk, NR1 1SQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The financial statements have been prepared on a going concern basis. However attention is drawn to the following:
The company is part of a group guarantee against a bridging loan secured with other group companies. At the year end the total amount of loan outstanding was £2,052,000 (2024: 1,868,000) of which £2,052,000 (2024: £1,868,000) is due within one year. The company has provided security against this loan in the form of its investment property.
At the end of the year the total amount of loans owed by group companies and connected parties was £1,715,500 (2024: £1,603,500)
At the year end the total amount of loans outstanding to group companies and related parties was £350,000 (2024: £350,000).
The directors have received assurances from the Parent company that resources will be made available for the foreseeable future, and in particular for the period of 12 months from the date of approval of these financial statements.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2024
350,000
Mercantem Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Amounts due from group undertakings etc.
1,715,500
1,603,500
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
2,052,000
1,868,000
Amounts owed to group undertakings and other participating interests
350,000
350,000
7
Transactions with related parties
Under section 33.1A of FRS 102 Section 1A Small Entities, the Company is not obliged to disclose transactions between members of other group companies where group accounts are prepared.
The company entered into a loan agreement with Targetfollow Estates Limited, a company controlled by A Naghshineh. At the end of the period the company was owed a total of £70,000 (2024: Nil) by Targetfollow Estates Limited.
The immediate controlling party is Targetfollow Group Limited, a company registered in England and Wales. The ultimate controlling party is the shareholder and a director of Targetfollow Group Limited, A Naghshineh.
The parent undertaking of the largest and smallest group for which consolidated accounts are prepared is Targetfollow Group Ltd, whose registered address is 11-12 Riverside Road, Norwich, NR1 1SQ. Consolidated accounts are available from Companies House.
9
Average number of employees
During the year the average number of employees was 0 (2024: 0).