Year Ended
Registration number:
Mercator Partnership Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Mercator Partnership Limited
Company Information
Director |
Mr E A S Nicholson |
Company secretary |
Mrs D M Nicholson |
Registered office |
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Accountants |
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Mercator Partnership Limited
Balance Sheet
31 December 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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Mercator Partnership Limited
Balance Sheet
31 December 2019
For the financial year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company Registration Number: 05242475
Mercator Partnership Limited
Notes to the Financial Statements
Year Ended 31 December 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover represents the fair value of services provided under contracts with customers to the extent that there is a right to consideration.
Services are measured at the fair value of the consideration due. Where a service is incomplete at the year end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.
Invoices are not raised until a contract is complete so the value of incomplete services is included in Amounts recoverable on contracts in the balance sheet.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Mercator Partnership Limited
Notes to the Financial Statements
Year Ended 31 December 2019
Asset class |
Depreciation method and rate |
Fixtures and equipment |
25% per annum, reducing balance |
Mercator Partnership Limited
Notes to the Financial Statements
Year Ended 31 December 2019
Financial instruments
Classification
• Short term trade and other debtors and creditors; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Taxation |
Tax charged/(credited) in the profit and loss account
2019 |
2018 |
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Current taxation |
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UK corporation tax |
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UK corporation tax adjustment to prior periods |
- |
( |
5,762 |
20,232 |
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Foreign tax |
- |
( |
Total current income tax |
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Deferred taxation |
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Arising from origination and reversal of timing differences |
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Tax expense in the income statement |
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Mercator Partnership Limited
Notes to the Financial Statements
Year Ended 31 December 2019
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 January 2019 |
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Additions |
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At 31 December 2019 |
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Depreciation |
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At 1 January 2019 |
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Charge for the year |
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At 31 December 2019 |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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Debtors |
2019 |
2018 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2019 |
2018 |
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Due within one year |
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Social security and other taxes |
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Accrued expenses |
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Corporation tax |
5,762 |
2,814 |
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Mercator Partnership Limited
Notes to the Financial Statements
Year Ended 31 December 2019
Related party transactions |
Advances to directors |
2019 |
At 1 January 2019 |
Advances to director |
Repayments by director |
At 31 December 2019 |
Mr E A S Nicholson |
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Loan charging interest at ORI, repayable on demand |
115,323 |
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( |
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2018 |
At 1 January 2018 |
Advances to director |
Repayments by director |
At 31 December 2018 |
Mr E A S Nicholson |
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Loan charging interest at ORI, repayable on demand |
29,818 |
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( |
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