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COMPANY REGISTRATION NUMBER: NI016537
Mill Mac Development Limited
Filleted Unaudited Financial Statements
31 July 2023
Mill Mac Development Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current assets
Stocks
165,000
165,000
Debtors
5
67
Cash at bank and in hand
12,913
63,186
---------
---------
177,913
228,253
Creditors: amounts falling due within one year
6
155,789
200,516
---------
---------
Net current assets
22,124
27,737
--------
--------
Total assets less current liabilities
22,124
27,737
--------
--------
Capital and reserves
Called up share capital
2,000
2,000
Profit and loss account
20,124
25,737
--------
--------
Shareholders funds
22,124
27,737
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 July 2023 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 financial statements were approved by the board of directors and authorised for issue on 16 April 2024 , and are signed on behalf of the board by:
Mr S C McFarland
Mrs I McFarland
Director
Director
Company registration number: NI016537
Mill Mac Development Limited
Notes to the Financial Statements
Year ended 31 July 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit B15, Omagh Enterprise Centre, Great Northern Road, Omagh, BT78 5LU. The principal activity of the business is the development of building projects.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
The directors continue to prepare the accounts on a going concern basis and deem this appropriate. No material uncertainty about going concern status currently exists. In making this assessment the directors have considered the likely trading conditions for a period of twelve months from the date of approval.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Tangible assets
Equipment
Total
£
£
Cost
At 1 August 2022 and 31 July 2023
497
497
----
----
Depreciation
At 1 August 2022 and 31 July 2023
497
497
----
----
Carrying amount
At 31 July 2023
----
----
At 31 July 2022
----
----
5. Debtors
2023
2022
£
£
Trade debtors
67
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
363
363
Other creditors
155,426
200,153
---------
---------
155,789
200,516
---------
---------
7. Directors' advances, credits and guarantees
During the year the directors withdrew from the company £44,727. The balance due to directors at the 31 July 2023 was £155,426. (2022: £200,153).