Company Registration No. 06832804 (England and Wales)
Mulvany IT Limited
Unaudited accounts
for the year ended 31 March 2023
Mulvany IT Limited
Unaudited accounts
Contents
Mulvany IT Limited
Company Information
for the year ended 31 March 2023
Directors
P J C Mulvany
D J Mulvany
Company Number
06832804 (England and Wales)
Registered Office
2 St Anns Road
Faversham
Kent
ME13 8RQ
United Kingdom
Accountants
Step Stone Accountancy Limited
240 Reculver Road
Herne Bay
Kent
CT6 6QR
Mulvany IT Limited
Statement of financial position
as at 31 March 2023
Tangible assets
3,011
3,525
Cash at bank and in hand
(763)
32
Creditors: amounts falling due within one year
22,058
19,063
Net current assets
27,295
30,595
Total assets less current liabilities
30,306
34,120
Creditors: amounts falling due after more than one year
(29,558)
(33,150)
Provisions for liabilities
Called up share capital
104
104
Profit and loss account
72
196
Shareholders' funds
176
300
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by
P J C Mulvany
Director
Company Registration No. 06832804
Mulvany IT Limited
Notes to the Accounts
for the year ended 31 March 2023
Mulvany IT Limited is a private company, limited by shares, registered in England and Wales, registration number 06832804. The registered office is 2 St Anns Road , Faversham , Kent , ME13 8RQ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
4 years
Computer equipment
2 years
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Mulvany IT Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 April 2022
7,249
4,865
12,114
At 31 March 2023
8,413
5,121
13,534
At 1 April 2022
5,654
2,935
8,589
Charge for the year
784
1,150
1,934
At 31 March 2023
6,438
4,085
10,523
At 31 March 2023
1,975
1,036
3,011
At 31 March 2022
1,595
1,930
3,525
Amounts falling due within one year
Accrued income and prepayments
-
11,500
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,161
2,713
Taxes and social security
9,887
10,109
Loans from directors
(50,225)
(43,544)
7
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
3 Ordinary A Shares of £1 each
3
3
1 Ordinary B Shares of £1 each
1
1
Mulvany IT Limited
Notes to the Accounts
for the year ended 31 March 2023
9
Average number of employees
During the year the average number of employees was 3 (2022: 3).