General Information
MERCY GOLD LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06667320, registration address 1 Chafford Way, Grays, England, RM16 2EJ.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
|
| 2. |
Average number of employees
Average number of employees during the year was 2 (2024 : 2).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Computer Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 September 2024 |
- |
|
12,000 |
|
3,523 |
|
6,953 |
|
22,476 |
| Additions |
499 |
|
- |
|
4,307 |
|
2,940 |
|
7,746 |
| Disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
499 |
|
12,000 |
|
7,830 |
|
9,893 |
|
30,222 |
| Depreciation |
| At 01 September 2024 |
- |
|
1,400 |
|
2,178 |
|
4,587 |
|
8,165 |
| Charge for year |
- |
|
1,400 |
|
2,317 |
|
3,298 |
|
7,015 |
| On disposals |
- |
|
- |
|
- |
|
- |
|
- |
| At 31 August 2025 |
- |
|
2,800 |
|
4,495 |
|
7,885 |
|
15,180 |
| Net book values |
| Closing balance as at 31 August 2025 |
499 |
|
9,200 |
|
3,335 |
|
2,008 |
|
15,042 |
| Opening balance as at 01 September 2024 |
- |
|
10,600 |
|
1,345 |
|
2,366 |
|
14,311 |
|
| 4. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
9,931 |
|
127,274 |
|
9,931 |
|
127,274 |
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
78,009 |
|
90,253 |
| Corporation Tax |
11,055 |
|
28,337 |
| Pension Expense |
(1,152) |
|
(1,152) |
| PAYE & Social Security |
(15,743) |
|
(14,844) |
| VAT Output |
12,006 |
|
12,006 |
| Directors' Current Accounts |
97,117 |
|
101,875 |
|
181,292 |
|
216,475 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Loan to Company |
(61,828) |
|
(44,903) |
|
(61,828) |
|
(44,903) |
|
2
|