Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Mercury Car Centre Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A Wraight

Mrs J K Hutchinson

D A Taunton

N W Hutchinson

SECRETARY:

Mrs A Wraight

REGISTERED OFFICE:

146 High Street

Billericay

Essex

CM12 9DF

REGISTERED NUMBER:

05610034 (England and Wales)

ACCOUNTANTS:

Michael Letch & Partners LLP

Accountants

146 High Street

Billericay

Essex

CM12 9DF

FIXED ASSETS

Tangible assets

4

97,048

116,554

CURRENT ASSETS

Stocks

58,835

56,935

Debtors

5

205,385

187,728

Cash at bank and in hand

52,820

50,485

317,040

295,148

CREDITORS

Amounts falling due within one year

6

400,601

354,300

NET CURRENT LIABILITIES

(83,561

)

(59,152

)

TOTAL ASSETS LESS CURRENT LIABILITIES

13,487

57,402

CREDITORS

Amounts falling due after more than one year

7

(8,243

)

(48,792

)

PROVISIONS FOR LIABILITIES

(4,985

)

(8,286

)

NET ASSETS

259

324

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

159

224

SHAREHOLDERS' FUNDS

259

324

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 directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 December 2025 and were signed on its behalf by:

N W Hutchinson - Director

1.	STATUTORY INFORMATION

Mercury Car Centre 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

Going concern

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.

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Stocks

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

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 12 (2024 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 April 2024

47,618

258,359

34,645

Additions

-

4,968

-

Disposals

-

-

-

At 31 March 2025

47,618

263,327

34,645

DEPRECIATION

At 1 April 2024

4,762

205,566

31,779

Charge for year

2,381

14,440

717

Eliminated on disposal

-

-

-

At 31 March 2025

7,143

220,006

32,496

NET BOOK VALUE

At 31 March 2025

40,475

43,321

2,149

At 31 March 2024

42,856

52,793

2,866

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 April 2024

36,633

39,056

416,311

Additions

-

2,615

7,583

Disposals

(13,550

)

-

(13,550

)

At 31 March 2025

23,083

41,671

410,344

DEPRECIATION

At 1 April 2024

24,488

33,162

299,757

Charge for year

2,538

5,019

25,095

Eliminated on disposal

(11,556

)

-

(11,556

)

At 31 March 2025

15,470

38,181

313,296

NET BOOK VALUE

At 31 March 2025

7,613

3,490

97,048

At 31 March 2024

12,145

5,894

116,554

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

13,315

15,724

Other debtors

1,374

1,374

Directors' loan accounts

134,191

120,008

Tax

45,290

40,503

Prepayments and accrued income

11,215

10,119

205,385

187,728

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

11,667

9,890

Hire purchase contracts

28,772

27,896

Trade creditors

114,390

77,670

Tax

66,411

90,164

Social security and other taxes

116,066

98,344

Other creditors

30,330

30,837

Directors' loan accounts

31,807

17,007

Accrued expenses

1,158

2,492

400,601

354,300

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

-

10,057

Bank loans - 2-5 years

-

1,720

Hire purchase contracts

8,243

37,015

8,243

48,792