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Registered number: 11173811
The Merch Store Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2025
GMS FC Limited
1 London Road
Ipswich
Suffolk
IP1 2HA
Contents
Page
Balance Sheet 1—2
Statement of Changes in Equity 3
Notes to the Financial Statements 4—6
Page 1
Balance Sheet
Registered number: 11173811
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,430 26,432
19,430 26,432
CURRENT ASSETS
Debtors 5 208,051 186,241
Cash at bank and in hand 177,775 116,805
385,826 303,046
Creditors: Amounts Falling Due Within One Year 6 (292,563 ) (250,654 )
NET CURRENT ASSETS (LIABILITIES) 93,263 52,392
TOTAL ASSETS LESS CURRENT LIABILITIES 112,693 78,824
Creditors: Amounts Falling Due After More Than One Year 7 (3,581 ) (3,581 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,207 ) (7,207 )
NET ASSETS 101,905 68,036
CAPITAL AND RESERVES
Called up share capital 8 500 500
Profit and Loss Account 101,405 67,536
SHAREHOLDERS' FUNDS 101,905 68,036
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ahmed Sukkar
Director
30th December 2025
The notes on pages 4 to 6 form part of these financial statements.
Page 2
Page 3
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2023 500 153,185 153,685
Loss for the year and total comprehensive income - (43,649 ) (43,649)
Dividends paid - (42,000) (42,000)
As at 31 March 2024 and 1 April 2024 500 67,536 68,036
Profit for the year and total comprehensive income - 67,869 67,869
Dividends paid - (34,000) (34,000)
As at 31 March 2025 500 101,405 101,905
Page 3
Page 4
Notes to the Financial Statements
1. General Information
The Merch Store Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11173811 . The registered office is Van Gogh House, 158 Twickenham Road, Isleworth, TW7 7DL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% SL
Motor Vehicles 20% SL
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 4
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 3)
2 3
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2024 31,127 63,116 94,243
As at 31 March 2025 31,127 63,116 94,243
Depreciation
As at 1 April 2024 25,944 41,867 67,811
Provided during the period 1,577 5,425 7,002
As at 31 March 2025 27,521 47,292 74,813
Net Book Value
As at 31 March 2025 3,606 15,824 19,430
As at 1 April 2024 5,183 21,249 26,432
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 109,427 89,842
VAT 19,976 17,751
Amounts owed by subsidiaries 78,648 78,648
208,051 186,241
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 82,721 83,542
Corporation tax 2,222 (379 )
Other taxes and social security 261 261
Other creditors 81,234 81,234
Pension Control Account 183 183
Credit card control account 12,593 6,659
Accruals and deferred income 89,205 36,687
Director's loan account 24,144 42,467
292,563 250,654
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Amounts owed to group undertakings 3,581 3,581
Page 5
Page 6
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 500 500
9. Directors Advances, Credits and Guarantees
Dividends paid to directors
Page 6