| Mullarch Limited |
| Registered number: |
01725955 |
| Balance Sheet |
| as at 31 May 2018 |
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
1,049 |
|
|
1,767 |
|
|
|
|
1,049 |
|
|
1,767 |
|
| Current assets |
| Debtors |
5 |
|
1,345,367 |
|
|
1,504,458 |
| Cash at bank and in hand |
|
|
83,930 |
|
|
56,788 |
|
|
|
1,429,297 |
|
|
1,561,246 |
|
| Creditors: amounts falling due within one year |
6 |
|
(710,472) |
|
|
(843,914) |
|
| Net current assets |
|
|
|
718,825 |
|
|
717,332 |
|
| Total assets less current liabilities |
|
|
|
719,874 |
|
|
719,099 |
|
| Net assets |
|
|
|
719,874 |
|
|
719,099 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
719,774 |
|
|
718,999 |
|
| Shareholders' funds |
|
|
|
719,874 |
|
|
719,099 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The detailed profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A Green |
| Director |
| Approved by the board on 5 July 2018 |
|
| Mullarch Limited |
| Notes to the Accounts |
| for the year ended 31 May 2018 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. The geographical split of turnover during the year is 0.14% for the U.K & 99.86% to countries outside the EEC. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures, fittings and equipment |
15% per annum straight line basis |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 3 |
Employees |
2018 |
|
2017 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
Fixtures, fittings and equipment |
|
Total |
| £ |
£ |
|
Cost |
|
At 1 June 2017 |
31,347 |
|
31,347 |
|
Additions |
- |
|
- |
|
Disposals |
(15,826) |
|
(15,826) |
|
At 31 May 2018 |
15,521 |
|
15,521 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2017 |
29,580 |
|
29,580 |
|
Charge for the year |
531 |
|
531 |
|
On disposals |
(15,639) |
|
(15,639) |
|
At 31 May 2018 |
14,472 |
|
14,472 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2018 |
1,049 |
|
1,049 |
|
At 31 May 2017 |
1,767 |
|
1,767 |
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
1,329,801 |
|
1,461,563 |
|
Loans |
|
- |
|
31,907 |
|
Other debtors |
15,566 |
|
10,988 |
|
|
|
|
|
|
1,345,367 |
|
1,504,458 |
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Corporation tax |
313 |
|
564 |
|
Other taxes and social security costs |
- |
|
2,400 |
|
Other creditors |
710,159 |
|
840,950 |
|
|
|
|
|
|
710,472 |
|
843,914 |
|
|
|
|
|
|
|
|
|
| 7 |
Events after the reporting date |
|
|
The directors were not aware of any events after the reporting date which would materially affect the financial statements at the year end. |
|
| 8 |
Pension commitments |
|
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
| 9 |
Contingent liabilities |
|
|
The directors were not aware of the existence of any contingent liability at the year end. |
|
| 10 |
Related party transactions |
|
|
(a) Mr B E R Goring is a director in the company and his daughter Mrs S Greenhalgh is company secretary. His second daughter Mrs A Green and son-in-law Mr A Green who is a director in the company each hold 50% of the issued share capital.
Included in other creditors are amounts due to Mr & Mrs Goring of £331,509 (2017 - £331,509).
Included in other creditors are amounts due to Mr & Mrs Green of £365,137 (2017 - £507,637).
|
|
| 11 |
Controlling party |
|
|
The company is controlled by the director Mr A Green. |
|
| 12 |
Other information |
|
|
Mullarch Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
11 Beeches Avenue |
|
Carshalton |
|
Surrey |
|
SM5 3LB |
