Mullan Construction Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 01797049 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 OCTOBER 2022

FOR

MULLAN CONSTRUCTION LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P Mullan

Mrs R L 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

FIXED ASSETS

Investment property

5

361,607

631,607

CURRENT ASSETS

Cash in hand

6,406

-

CREDITORS

Amounts falling due within one year

15,102

78,838

NET CURRENT LIABILITIES

(8,696

)

(78,838

)

TOTAL ASSETS LESS CURRENT LIABILITIES

352,911

552,769

CREDITORS

Amounts falling due after more than one year

6

-

(225,000

)

PROVISIONS FOR LIABILITIES

(23,180

)

(23,180

)

NET ASSETS

329,731

304,589

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

97,919

11,099

Retained earnings

231,712

293,390

SHAREHOLDERS' FUNDS

329,731

304,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 October 2022 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 October 2022 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 Board of Directors and authorised for issue on 8 December 2023 and were signed on its behalf by:

Mr P Mullan - Director

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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

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.

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Fair value is determined by consideration of comparable market data such as rental yields, location, condition and nature of the property. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 30 October 2021

631,607

Disposals

(270,000

)

At 29 October 2022

361,607

NET BOOK VALUE

At 29 October 2022

361,607

At 29 October 2021

631,607

Fair value at 29 October 2022 is represented by:

£

Valuation in 2014

110,000

Valuation in 2018

11,099

Cost

240,508

361,607

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable by instalments

Other loans

-

225,000

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Fair

value

reserve

£

At 30 October 2021

11,099

Revaluation reserve

105,196

Deferred tax on revaluation

(23,180

)

Reclassification

4,804

At 29 October 2022

97,919

9.	ULTIMATE CONTROLLING PARTY