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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
Page
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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
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Mulvany IT Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,011 
3,525 
Current assets
Debtors
6,000 
11,500 
Cash at bank and in hand
(763)
32 
5,237 
11,532 
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
Deferred tax
(572)
(670)
Net assets
176 
300 
Capital and reserves
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
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Mulvany IT Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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 taxation
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.
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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 
Additions
1,164 
256 
1,420 
At 31 March 2023
8,413 
5,121 
13,534 
Depreciation
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 
Net book value
At 31 March 2023
1,975 
1,036 
3,011 
At 31 March 2022
1,595 
1,930 
3,525 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
6,000 
- 
Accrued income and prepayments
- 
11,500 
6,000 
11,500 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,161 
2,713 
VAT
5,729 
3,819 
Trade creditors
890 
1,515 
Taxes and social security
9,887 
10,109 
Other creditors
- 
4,825 
Loans from directors
(50,225)
(43,544)
Accruals
1,500 
1,500 
(22,058)
(19,063)
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
29,558 
33,150 
8
Share capital
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 
104 
104 
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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).
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