MULLIONS_LIMITED - Accounts

MULLIONS LIMITED - Company Information

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Company Registration No. 00419202 (England and Wales)

MULLIONS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

MULLIONS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

MULLIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Investments

448,538

241,636

Current assets

Debtors

39,107

24,407

Cash at bank and in hand

14,799

267,306

53,906

291,713

Creditors: amounts falling due within one year

(1,930)

(3,059)

Net current assets

51,976

288,654

Total assets less current liabilities

500,514

530,290

Creditors: amounts falling due after more than one year

(20,000)

500,514

510,290

Capital and reserves

Called up share capital

4,500

5,000

Revaluation reserve

213,311

321,099

Other reserves

500

Profit and loss account

282,203

184,191

Shareholders' funds

500,514

510,290

MULLIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2015

- 2 -

For the financial year ended 30 September 2015 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 29 June 2016

Mr R H K Watts

Mrs A C S Watts

Director

Company Registration No. 00419202

MULLIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Tangible fixed assets and depreciation

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

Computer equipment

25% reducing balance

The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.

1.3

Investments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Investments in partnerships are accounted for under the equity method of accounting at cost plus share of profits not drawn from the partnership. In addition, these investments are revalued annually so that the company's share of the revaluation reserve in the partnership is reflected in the carrying value of the investment. The valuation is reviewed annually for indicators of impairment.

1.4

Deferred taxation

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not they will be recovered. Deferred tax assets and liabilities are not discounted.

MULLIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 October 2014

173

241,635

241,808

Additions

203,346

Revaluation

3,557

At 30 September 2015

173

448,538

448,711

Depreciation

At 1 October 2014 & at 30 September 2015

173

Net book value

At 30 September 2015

448,538

At 30 September 2014

241,636

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Participating interests

Walker Street LLP

Scotland

Partner's share

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2015

Principal activity

Walker Street LLP

Provision of serviced offices

629,446

96,092

Share capital

2015

2014

Allotted, called up and fully paid

4,500 Ordinary shares of £1 each

4,500

5,000

During the year there was a share purchase for cancellation of 500 ordinary shares of £500.