Mercury Publicity Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01739676 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

MERCURY PUBLICITY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O Tsebenko

N Nemygin

SECRETARY:

Sutherland Corporate Services Limited

REGISTERED OFFICE:

Lower Ground Floor

Fanz House

99 Grays Inn Road

London

WC1X 8TY

REGISTERED NUMBER:

01739676 (England and Wales)

ACCOUNTANTS:

Platt Rushton LLP

Chartered Accountants

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

BANKERS:

HSBC Bank Plc

Southwark Branch

28 Borough High Street

Southwark

London

SE1 1YB

FIXED ASSETS

Intangible assets

4

59,044

125,344

Tangible assets

5

7,847

12,820

Investments

6

1

1

66,892

138,165

CURRENT ASSETS

Debtors

7

1,550,067

1,388,865

Cash at bank and in hand

255,100

334,324

1,805,167

1,723,189

CREDITORS

Amounts falling due within one year

8

1,350,540

1,281,969

NET CURRENT ASSETS

454,627

441,220

TOTAL ASSETS LESS CURRENT LIABILITIES

521,519

579,385

CAPITAL AND RESERVES

Called up share capital

10

14,500

14,500

Share premium

11

2,610,500

2,610,500

Retained earnings

11

(2,103,481

)

(2,045,615

)

SHAREHOLDERS' FUNDS

521,519

579,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29th June 2021 and were signed on its behalf by:

N Nemygin - Director

1.	STATUTORY INFORMATION

Mercury Publicity Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about Mercury Publicity Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents commission arising from the company's activities as an advertising agent. It is stated net of value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on cost

Government grants

Government grants are accounted for under the accruals model.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2019 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2020

and 31st December 2020

198,899

AMORTISATION

At 1st January 2020

73,555

Charge for year

66,300

At 31st December 2020

139,855

NET BOOK VALUE

At 31st December 2020

59,044

At 31st December 2019

125,344

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2020

35,841

Additions

1,373

At 31st December 2020

37,214

DEPRECIATION

At 1st January 2020

23,021

Charge for year

6,346

At 31st December 2020

29,367

NET BOOK VALUE

At 31st December 2020

7,847

At 31st December 2019

12,820

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st January 2020

and 31st December 2020

1

NET BOOK VALUE

At 31st December 2020

1

At 31st December 2019

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

1,506,658

1,335,324

Other debtors

43,409

53,541

1,550,067

1,388,865

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

823,637

901,858

Amounts owed to group undertakings

10,478

13,395

Taxation and social security

324,300

247,350

Other creditors

192,125

119,366

1,350,540

1,281,969

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

35,172

35,172

Between one and five years

8,793

43,965

43,965

79,137

10.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2020

2019

value:

£

£

10,000

Ordinary

£1

14,500

14,500

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1st January 2020

(2,045,615

)

2,610,500

564,885

Deficit for the year

(57,866

)

-

(57,866

)

At 31st December 2020

(2,103,481

)

2,610,500

507,019

12.	GOING CONCERN

The company has made a trading loss. In making their assessment of going concern, the directors have considered a period of at least 12 months from the date of approval of the financial statements. It is their belief that current and future sources of funding or support from the company's parent undertaking will be more than adequate for the company's needs. The company's parent has made written undertakings to this effect. As a result, the going concern basis of accounting has been adopted.