Company registration number 03970839 (England and Wales)
MERCURY SEARCH AND SELECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
PAGES FOR FILING WITH REGISTRAR
MERCURY SEARCH AND SELECTION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
MERCURY SEARCH AND SELECTION LIMITED
BALANCE SHEET
AS AT 31 MARCH 2026
31 March 2026
- 1 -
31 March 2026
30 June 2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,187
19,228
Current assets
Debtors
4
47,084
70,288
Cash at bank and in hand
142,045
24,132
189,129
94,420
Creditors: amounts falling due within one year
5
(138,048)
(111,663)
Net current assets/(liabilities)
51,081
(17,243)
Net assets
65,268
1,985
Capital and reserves
Called up share capital
320
320
Profit and loss reserves
64,948
1,665
Total equity
65,268
1,985

The notes on pages 2 to 6 form part of these financial statements.

For the financial period ended 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 August 2026 and are signed on its behalf by:
D Novick
Director
Company registration number 03970839 (England and Wales)
MERCURY SEARCH AND SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2026
- 2 -
1
Accounting policies
Company information

Mercury Search and Selection Limited is a private company limited by shares incorporated in England and Wales. The registered office is Cholmondeley House, Dee Hills Park, Chester, Cheshire, CH3 5AR.

1.1
Reporting period

The financial statements have been prepared for a period of 9 months from 1 July 2025 to 31 March 2026. The directors shortened the accounting reference for for administrative convenience.

As a result of the shortened period, the comparative figures presented in these financial statements a re not entirely comparable with the current period's amounts.

1.2
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Revenue

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
5% straight line
Website development
25% straight line
Fixtures and fittings
33% straight line
Motor vehicles
25% reducing balance
Computer equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

MERCURY SEARCH AND SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 3 -
1.5
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.

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 are largely independent of the cash inflows from other assets or groups of assets.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

MERCURY SEARCH AND SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

MERCURY SEARCH AND SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2026
2025
Number
Number
Total
9
9
3
Tangible fixed assets
Leasehold improvements
Website development
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
£
Cost
At 1 July 2025
16,892
41,425
50,774
30,417
66,144
205,652
Additions
-
0
-
0
-
0
-
0
142
142
At 31 March 2026
16,892
41,425
50,774
30,417
66,286
205,794
Depreciation and impairment
At 1 July 2025
9,850
41,425
49,044
19,961
66,144
186,424
Depreciation charged in the period
1,056
-
0
813
3,267
47
5,183
At 31 March 2026
10,906
41,425
49,857
23,228
66,191
191,607
Carrying amount
At 31 March 2026
5,986
-
0
917
7,189
95
14,187
At 30 June 2025
7,042
-
0
1,730
10,456
-
0
19,228
4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Trade debtors
32,710
64,274
Other debtors
14,374
6,014
47,084
70,288
MERCURY SEARCH AND SELECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2026
- 6 -
5
Creditors: amounts falling due within one year
2026
2025
£
£
Trade creditors
7,752
29,870
Corporation tax
21,689
3,962
Other taxation and social security
75,119
33,859
Other creditors
33,488
43,972
138,048
111,663
6
Related party transactions
Transactions with related parties

During the period the company entered into the following transactions with related parties: At the balance sheet date, the company owed £27,000 to Maxar Ltd. The loan is unsecured, interest-free, and repayable on demand. No provisions have been made for doubtful debts in respect of this balance during the period.

7
Directors' transactions
Loans
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
I Roe -
-
(127)
3,408
(2,367)
914
D Novick -
-
-
3,860
(292)
3,568
(127)
7,268
(2,659)
4,482
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