Mearswood Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10086346

Mearswood Limited

Filleted Unaudited Financial Statements

31 March 2025

Mearswood Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		1,531	1,805

Current assets

Debtors	6	54,612	49,284
Cash at bank and in hand		174,069	204,852
		---------	---------
		228,681	254,136

Creditors: amounts falling due within one year	7	54,416		60,842
		---------		---------
Net current assets			174,265	193,294
			---------	---------
Total assets less current liabilities			175,796	195,099
			---------	---------
Net assets			175,796	195,099
			---------	---------

Capital and reserves

Called up share capital	8	102	102
Profit and loss account		175,694	194,997
		---------	---------
Shareholders funds		175,796	195,099
		---------	---------

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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.

Director's responsibilities:

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

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Mearswood Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

Mrs Y Williams
Director

Company registration number: 10086346

Mearswood Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 6 The Linen Yard, South Street, Crewkerne, Somerset, TA18 8AB, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, exclusive of Value Added Tax. Revenue from services supplied is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current tax. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Storage shed	-	10 years straight line
Equipment	-	3 years straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2024	946	1,167	2,113
Additions	–	208	208
	----	-------	-------
At 31 March 2025	946	1,375	2,321
	----	-------	-------
Depreciation
At 1 April 2024	95	213	308
Charge for the year	94	388	482
	----	-------	-------
At 31 March 2025	189	601	790
	----	-------	-------
Carrying amount
At 31 March 2025	757	774	1,531
	----	-------	-------
At 31 March 2024	851	954	1,805
	----	-------	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	12,068	5,795
Other debtors	42,544	43,489
	--------	--------
	54,612	49,284
	--------	--------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	32,323	20,102
Corporation tax	12,147	21,389
Social security and other taxes	6,692	14,874
Other creditors	3,254	4,477
	--------	--------
	54,416	60,842
	--------	--------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
Ordinary A shares of £ 1 each	1	1	1	1
Ordinary B shares of £ 1 each	1	1	1	1
	----	----	----	----
	102	102	102	102
	----	----	----	----

9. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs Y Williams	31,960	700	( 700)	31,960
	--------	----	----	--------

	2024
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mrs Y Williams	34,617	2,264	( 4,921)	31,960
	--------	-------	-------	--------

(a)the maximum amount outstanding during the year was £31,960(b)interest has been charged at the official rate of 2.25%