2023-05-012024-04-302024-04-30false08932011MCNULTY PROPERTIES 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MCNULTY PROPERTIES LIMITED

Registered Number
08932011
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

MCNULTY PROPERTIES LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

MCNULTY, Vincent Craig

Registered Address

Cirrus Building Lodge Way
Lodge Farm Industrial Estate
Northampton
NN5 7US

Registered Number

08932011 (England and Wales)
MCNULTY PROPERTIES LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3897,450910,747
897,450910,747
Current assets
Debtors4381,626
Cash at bank and on hand73,56882,876
73,60684,502
Creditors amounts falling due within one year5(34,679)(29,091)
Net current assets (liabilities)38,92755,411
Total assets less current liabilities936,377966,158
Creditors amounts falling due after one year6(600,000)(700,000)
Provisions for liabilities7(7,214)(7,424)
Net assets329,163258,734
Capital and reserves
Called up share capital1,0001,000
Profit and loss account328,163257,734
Shareholders' funds329,163258,734
The financial statements were approved and authorised for issue by the Director on 23 October 2024, and are signed on its behalf by:
MCNULTY, Vincent Craig
Director
Registered Company No. 08932011
MCNULTY PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings50
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 May 231,014,8281,014,828
At 30 April 241,014,8281,014,828
Depreciation and impairment
At 01 May 23104,081104,081
Charge for year13,29713,297
At 30 April 24117,378117,378
Net book value
At 30 April 24897,450897,450
At 30 April 23910,747910,747
4.Debtors: amounts due within one year

2024

2023

££
Other debtors38-
Prepayments and accrued income-1,626
Total381,626
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security33,53927,951
Accrued liabilities and deferred income1,1401,140
Total34,67929,091
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts600,000700,000
Total600,000700,000
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,2147,424
Total7,2147,424