MERCADO_COMMERCE_LIMITED - Accounts

MERCADO COMMERCE LIMITED - Company Information

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Company Registration No. 08528025 (England and Wales)

MERCADO COMMERCE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2016

MERCADO COMMERCE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

MERCADO COMMERCE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MAY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

2,965

2,125

Current assets

Debtors

6,437

3,855

Cash at bank and in hand

2,339

39,604

8,776

43,459

Creditors: amounts falling due within one year

(53,663)

(16,767)

Net current liabilities/(assets)

(44,887)

26,692

Total assets less current liabilities

(41,922)

28,817

Capital and reserves

Called up share capital

10,450

Share premium account

152,810

Profit and loss account

(205,182)

(134,443)

Shareholders' funds

(41,922)

28,817

For the financial year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on .........................

..............................

D Farr

Director

Company Registration No. 08528025

MERCADO COMMERCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

During the year the company made a net loss of £70,739 and had a deficit of shareholders' funds of £41,922 at the year end. The accounts have been prepared on the going concern basis as the company will continue to be supported by the directors.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% straight line

Fixed assets

Tangible assets

Cost

At 1 June 2015

3,311

Additions

2,884

At 31 May 2016

6,195

Depreciation

At 1 June 2015

1,186

Charge for the year

2,044

At 31 May 2016

3,230

Net book value

At 31 May 2016

2,965

At 31 May 2015

2,125

MERCADO COMMERCE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MAY 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

9,450 A Ordinary of £1 each

9,450

1,000 B Ordinary of £1 each

1,000

10,450