MERCANTILE BARRISTERS LIMITED

MERCANTILE BARRISTERS LIMITED
Contents Page
For the year ended 30 June 2025

Company Information	1
Director's Report	2
Accountants' Report	3
Statement of Financial Position	4
Notes to the Financial Statements	5

MERCANTILE BARRISTERS LIMITED
Company Information
For the year ended 30 June 2025

Director	S OKORONKWO
Registered Number	10211382
Registered Office	10-11 GRAY'S INN SQUARE GRAY'S INN LONDON WC1R 5JD
Accountants	Versa Tax Solutions Ltd 9 Corbets Tey Road Upminster Essex RM14 2AP

1

MERCANTILE BARRISTERS LIMITED
Director's Report
For the year ended 30 June 2025

Director's report and financial statements

The director presents his/her/their annual report and the financial statements for the year ended 30 June 2025.

Principal activities

Principal activity of the company during the financial year was that of a professional law chambers.

Director

The director who served the company throughout the year was as follows:

S OKORONKWO

Statement of director's responsibilities

The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the director is required to :

select suitable accounting policies and then apply them consistently
make judgements and accounting estimates that are reasonable and prudent
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.

----------------------------------
S OKORONKWO
Director

Date approved: 10 July 2026

2

MERCANTILE BARRISTERS LIMITED Accountants' Report For the year ended 30 June 2025
Accountant’s report You consider that the company is exempt from an audit for the year ended 30 June 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Versa Tax Solutions Ltd 30 June 2025 .................................................... Versa Tax Solutions Ltd 9 Corbets Tey Road Upminster Essex RM14 2AP 10 July 2026 3

MERCANTILE BARRISTERS LIMITED
Accountants' Report
For the year ended 30 June 2025

Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 June 2025 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
30 June 2025

....................................................
Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
Essex
RM14 2AP
10 July 2026

3

MERCANTILE BARRISTERS LIMITED
Statement of Financial Position
As at 30 June 2025

	Notes	2025 £	2024 £
Fixed assets
Tangible fixed assets	3	28,744	34,289
		28,744	34,289
Current assets
Debtors	4	400,329	332,396
Cash at bank and in hand		14,767	19,086
		415,096	351,482
Creditors: amount falling due within one year	5	(857,525)	(972,093)
Net current assets		(442,429)	(620,611)

Total assets less current liabilities		(413,685)	(586,322)
Provisions for liabilities	6	(529)	(5,810)
Net assets		(414,214)	(592,132)

Capital and reserves
Called up share capital	7	100	100
Profit and loss account		(414,314)	(592,232)
Shareholders' funds		(414,214)	(592,132)

For the year ended 30 June 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 accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

These 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 to the Registrar of Companies.

The financial statements were approved by the director on 10 July 2026 and were signed by:

-------------------------------
S OKORONKWO
Director

4

MERCANTILE BARRISTERS LIMITED
Notes to the Financial Statements
For the year ended 30 June 2025

General Information

MERCANTILE BARRISTERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10211382, registration address 10-11 GRAY'S INN SQUARE, GRAY'S INN , LONDON, WC1R 5JD.

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.

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

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Land and Buildings	0% Reducing Balance
Motor Vehicles	20% Reducing Balance
Fixtures and Fittings	25% Straight Line
Computer Equipment	0% Reducing Balance

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 10 (2024 : 10).

3.

Tangible fixed assets

Cost or valuation	Land and Buildings	Motor Vehicles	Fixtures and Fittings	Computer Equipment	Total
	£	£	£	£	£
At 01 July 2024	105,563	87,500	18,813	939	212,815
Additions	-	-	4,150	-	4,150
Disposals	-	-	-	-	-
At 30 June 2025	105,563	87,500	22,963	939	216,965
Depreciation
At 01 July 2024	105,563	56,000	16,024	939	178,526
Charge for year	-	6,300	3,395	-	9,695
On disposals	-	-	-	-	-
At 30 June 2025	105,563	62,300	19,419	939	188,221
Net book values
Closing balance as at 30 June 2025	-	25,200	3,544	-	28,744
Opening balance as at 01 July 2024	-	31,500	2,789	-	34,289

4.

Debtors: amounts falling due within one year

	2025 £	2024 £
Trade Debtors	41,443	7,029
Amount Owed by Participating Interests	325,367	325,367
Prepayments & Accrued Income	33,519	0
	400,329	332,396

5.

Creditors: amount falling due within one year

	2025 £	2024 £
Trade Creditors	60,634	52,399
Bank Loans & Overdrafts	22,772	30,747
PAYE & Social Security	6,307	60,061
Wages & Salaries Control Account	0	35,122
Directors' Current Accounts	642,899	736,161
VAT	124,913	57,603
	857,525	972,093

6.

Provisions for liabilities

	2025 £		2024 £
Pension Provisions	529		5,810
	529		5,810

7.

Share Capital

Allotted, called up and fully paid	2025 £		2024 £
100 Class A shares of £1.00 each	100		100
	100		100

5

Registered Number: 10211382
England and Wales
MERCANTILE BARRISTERS LIMITED

Unaudited Financial Statements

Period of accounts Start date: 01 July 2024 End date: 30 June 2025