Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-012falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 7795207 2022-11-01 2023-10-31 7795207 2021-11-01 2022-10-31 7795207 2023-10-31 7795207 2022-10-31 7795207 c:Director1 2022-11-01 2023-10-31 7795207 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 7795207 d:Buildings d:LongLeaseholdAssets 2023-10-31 7795207 d:Buildings d:LongLeaseholdAssets 2022-10-31 7795207 d:PlantMachinery 2022-11-01 2023-10-31 7795207 d:PlantMachinery 2023-10-31 7795207 d:PlantMachinery 2022-10-31 7795207 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 7795207 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 7795207 d:CurrentFinancialInstruments 2023-10-31 7795207 d:CurrentFinancialInstruments 2022-10-31 7795207 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 7795207 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 7795207 d:ShareCapital 2023-10-31 7795207 d:ShareCapital 2022-10-31 7795207 d:RetainedEarningsAccumulatedLosses 2023-10-31 7795207 d:RetainedEarningsAccumulatedLosses 2022-10-31 7795207 c:FRS102 2022-11-01 2023-10-31 7795207 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 7795207 c:FullAccounts 2022-11-01 2023-10-31 7795207 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 7795207 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 7795207 d:AcceleratedTaxDepreciationDeferredTax 2022-10-31 7795207 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 7795207










MULLANY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
MULLANY LIMITED
REGISTERED NUMBER: 7795207

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
78,656
92,537

  
78,656
92,537

Current assets
  

Stocks
 5 
1,124,841
1,202,020

Debtors: amounts falling due within one year
 6 
-
1,581

Cash at bank and in hand
 7 
391,026
289,081

  
1,515,867
1,492,682

Creditors: amounts falling due within one year
 8 
(891,868)
(945,723)

Net current assets
  
 
 
623,999
 
 
546,959

Total assets less current liabilities
  
702,655
639,496

Provisions for liabilities
  

Deferred tax
 9 
(9,177)
-

  
 
 
(9,177)
 
 
-

Net assets
  
693,478
639,496


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
693,476
639,494

  
693,478
639,496


Page 1

 
MULLANY LIMITED
REGISTERED NUMBER: 7795207
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






N J Mullany
Director

Date: 28 July 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The company, which was incorporated and registered in England and Wales (registered number 7795207), is a privately owned company limited by shares. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
15%
Plant and machinery
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Tangible fixed assets





L/Term Leasehold Property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 November 2022
114,803
77,527
192,330



At 31 October 2023

114,803
77,527
192,330



Depreciation


At 1 November 2022
44,299
55,494
99,793


Charge for the year on owned assets
10,576
3,305
13,881



At 31 October 2023

54,875
58,799
113,674



Net book value



At 31 October 2023
59,928
18,728
78,656



At 31 October 2022
70,504
22,033
92,537


5.


Stocks

2023
2022
£
£

Stock
1,124,841
1,202,020

1,124,841
1,202,020


Page 6

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

6.


Debtors

2023
2022
£
£


Other debtors
-
1,581

-
1,581



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
391,026
289,081

391,026
289,081



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
16,922
-

Other taxation and social security
8,625
-

Other creditors
862,353
941,755

Accruals and deferred income
3,968
3,968

891,868
945,723



9.


Deferred taxation




2023


£






Charged to profit or loss
(9,177)



At end of year
(9,177)

Page 7

 
MULLANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,177)
-

(9,177)
-

 
Page 8