Mullan Construction Limited - Accounts to registrar (filleted) - small 18.2

Mullan Construction Limited - Accounts to registrar (filleted) - small 18.2

MULLAN CONSTRUCTION LIMITED - Company Information

Print Friendly Version

IRIS Accounts Production v19.3.2.199 01797049 director 30.10.17 29.10.18 29.10.18 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure017970492017-10-29017970492018-10-29017970492017-10-302018-10-29017970492016-10-30017970492016-10-312017-10-29017970492017-10-2901797049ns15:EnglandWales2017-10-302018-10-2901797049ns14:PoundSterling2017-10-302018-10-2901797049ns10:Director12017-10-302018-10-2901797049ns10:PrivateLimitedCompanyLtd2017-10-302018-10-2901797049ns10:SmallEntities2017-10-302018-10-2901797049ns10:AuditExempt-NoAccountantsReport2017-10-302018-10-2901797049ns10:SmallCompaniesRegimeForDirectorsReport2017-10-302018-10-2901797049ns10:SmallCompaniesRegimeForAccounts2017-10-302018-10-2901797049ns10:AbridgedAccounts2017-10-302018-10-2901797049ns10:OrdinaryShareClass12017-10-302018-10-2901797049ns10:CompanySecretary12017-10-302018-10-2901797049ns10:RegisteredOffice2017-10-302018-10-2901797049ns5:CurrentFinancialInstruments2018-10-2901797049ns5:CurrentFinancialInstruments2017-10-2901797049ns5:Non-currentFinancialInstruments2018-10-2901797049ns5:Non-currentFinancialInstruments2017-10-2901797049ns5:ShareCapital2018-10-2901797049ns5:ShareCapital2017-10-2901797049ns5:RevaluationReserve2018-10-2901797049ns5:RevaluationReserve2017-10-2901797049ns5:FurtherSpecificReserve3ComponentTotalEquity2018-10-2901797049ns5:RetainedEarningsAccumulatedLosses2018-10-2901797049ns5:RetainedEarningsAccumulatedLosses2017-10-2901797049ns5:Secured2018-10-2901797049ns5:Secured2017-10-2901797049ns10:OrdinaryShareClass12018-10-2901797049ns5:RevaluationReserve2017-10-2901797049ns5:FurtherSpecificReserve3ComponentTotalEquity2017-10-29


REGISTERED NUMBER: 01797049 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 OCTOBER 2018

FOR

MULLAN CONSTRUCTION LIMITED
Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS








MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2018










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


MULLAN CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 OCTOBER 2018







DIRECTOR: Mr P Mullan





SECRETARY: Mr P Mullan





REGISTERED OFFICE: Michael Filiou Ltd
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS





REGISTERED NUMBER: 01797049 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS
Page 1
MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

ABRIDGED BALANCE SHEET
29 OCTOBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 - 626,803
Investment property 4 631,607 -
631,607 626,803

CURRENT ASSETS
Cash at bank 1,352 1,352

CREDITORS
Amounts falling due within one year 143,975 106,212
NET CURRENT LIABILITIES (142,623 ) (104,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
488,984
521,943

CREDITORS
Amounts falling due after more than one
year
5
(226,875
)
(254,888
)

PROVISIONS FOR LIABILITIES (23,180 ) -
NET ASSETS 238,929 267,055

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 - 11,099
Fair value reserve 8 (7,277 ) -
Retained earnings 246,106 255,856
SHAREHOLDERS' FUNDS 238,929 267,055

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

ABRIDGED BALANCE SHEET - continued
29 OCTOBER 2018


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 October 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 20 January 2020 and were signed by:





Mr P Mullan - Director


The notes form part of these financial statements

Page 3
MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 OCTOBER 2018


1. STATUTORY INFORMATION

Mullan Construction 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.

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

The company's properties are held for long term investment and are included in the Balance Sheet at their open
market values. The surplus or deficit on annual revaluation of such properties are transferred to the revaluation
reserve. Depreciation is not provided in respect of land and buildings.

The policy represents a departure from statutory accounting principles, which require depreciation to be
provided on all fixed assets. The directors consider that this policy is necessary in order that the accounts may
give a true and fair view because current values and changes in current values are prime importance rather than
the calculation of systematic annual depreciation. Depreciation or amortisation is only one of many factors
reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately
identified or quantified.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Page 4 continued...
MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2018


3. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 30 October 2017 626,803
Reclassification/transfer (626,803 )
At 29 October 2018 -
NET BOOK VALUE
At 29 October 2018 -
At 29 October 2017 626,803

Cost/revaluations of freehold properties has been transferred to investment properties.

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Revaluations 4,804
Reclassification/transfer 626,803
At 29 October 2018 631,607
NET BOOK VALUE
At 29 October 2018 631,607

The freehold investment properties were valued by directors at market value on 29th October 2018.

Fair value at 29 October 2018 is represented by:

£   
Valuation in 2014 110,000
Valuation in 2018 4,804
Cost 516,803
631,607

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2018 2017
£    £   
Repayable by instalments
Bank loans more than 5 years - 174,888
Other loans 226,875 -
226,875 174,888

Page 5 continued...
MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 OCTOBER 2018


6. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 53,487 274,888

7. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Fair
Revaluation value
reserve reserve Totals
£    £    £   
At 30 October 2017 11,099 - 11,099
Revaluation reserve (11,099 ) 11,099 -
Revaluation reserve - 4,804 4,804
Deferred tax on revaluation - (23,180 ) (23,180 )

At 29 October 2018 - (7,277 ) (7,277 )

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr P Mullan.

Page 6