Mullan Construction Limited - Abbreviated accounts 16.3
Mullan Construction Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS |
| FOR THE PERIOD |
| 1 NOVEMBER 2015 TO 30 OCTOBER 2016 |
| FOR |
| MULLAN CONSTRUCTION LIMITED |
| MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE PERIOD 1 NOVEMBER 2015 TO 30 OCTOBER 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 4 |
| MULLAN CONSTRUCTION LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 NOVEMBER 2015 TO 30 OCTOBER 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| www.michaelfiliou.com |
| MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049) |
| ABBREVIATED BALANCE SHEET |
| 30 OCTOBER 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 3 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Revaluation reserve |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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. |
| MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049) |
| ABBREVIATED BALANCE SHEET - continued |
| 30 OCTOBER 2016 |
| The financial statements were approved by the Board of Directors on |
| MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE PERIOD 1 NOVEMBER 2015 TO 30 OCTOBER 2016 |
| 1. | ACCOUNTING POLICIES |
| Accounting convention |
| The financial statements have been prepared under the historical cost convention as modified by the revaluation |
| of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January |
| 2015). |
| Turnover |
| Turnover represents net invoiced sales of services, excluding value added tax. |
| Tangible fixed assets |
| 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. |
| Deferred tax |
| The charge for taxation takes into account taxation deferred as a result of timing differences between the |
| treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in |
| respect of all timing differences that have originated but not reversed at the balance sheet date. |
| However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
| than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
| differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are |
| expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or |
| substantively enacted at the balance sheet date. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
| under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
| are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to the profit and loss account over the relevant period. The |
| capital element of the future payments is treated as a liability. |
| Going concern |
| In July 2014 the company entered into a Company Voluntary Arrangement (CVA) with its creditors. This action |
| enabled the company to continue trading whilst paying off its debts in full over an agreed time scale. On 29th |
| July 2016 the CVA was completed and fully implemented with all the creditors claiming in the CVA having |
| received 100 pence in the £. |
| MULLAN CONSTRUCTION LIMITED (REGISTERED NUMBER: 01797049) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE PERIOD 1 NOVEMBER 2015 TO 30 OCTOBER 2016 |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST OR VALUATION |
| At 1 November 2015 |
| and 30 October 2016 |
| NET BOOK VALUE |
| At 30 October 2016 |
| At 31 October 2015 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 2016 | 2015 |
| £ | £ |
| Repayable by instalments | 158,346 | 145,046 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |