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REGISTERED NUMBER: 03739384 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

MCMULLAN MANAGEMENT SERVICES LIMITED

MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MCMULLAN MANAGEMENT SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: M McMullan



SECRETARY: J McMullan



REGISTERED OFFICE: Highfield
Sheldons Lane
Walgrave
Northampton
NN6 9PW



REGISTERED NUMBER: 03739384 (England and Wales)



ACCOUNTANTS: Shaw Gibbs Limited
Eagle House
28 Billing Road
Northampton
NN1 5AJ



BANKERS: Barclays Bank Plc
267 Wellingborough Road
Northampton
NN1 5DN

MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 100,000 100,000
Investment property 5 3,356,694 3,205,000
3,456,694 3,305,000

CURRENT ASSETS
Debtors 6 102,600 244,414
Cash at bank 413,678 307,315
516,278 551,729
CREDITORS
Amounts falling due within one year 7 52,419 89,278
NET CURRENT ASSETS 463,859 462,451
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,920,553

3,767,451

PROVISIONS FOR LIABILITIES 512,322 512,322
NET ASSETS 3,408,231 3,255,129

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,941,099 1,941,099
Retained earnings 1,467,032 1,313,930
SHAREHOLDERS' FUNDS 3,408,231 3,255,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 September 2024 and were signed by:





M McMullan - Director


MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

McMullan Management Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Turnover
The turnover shown in the profit and loss account represents amounts received in rent during the year

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Investments are initially recorded at cost, subsequently they are valued at impaired cost.


MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 100,000
At 31 March 2023 100,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,205,000
Additions 151,694
At 31 March 2024 3,356,694
NET BOOK VALUE
At 31 March 2024 3,356,694
At 31 March 2023 3,205,000

Fixed assets include investment properties of £3,356,694 which were valued at open-market value for current use at 31 March 2024, by Mr M McMullan, the director of the company.

MCMULLAN MANAGEMENT SERVICES LIMITED (REGISTERED NUMBER: 03739384)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 100,000 242,500
Prepayments and accrued income 2,600 1,914
102,600 244,414

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 42,674 45,252
Other creditors 5,719 40,400
Directors' current accounts 1,117 1,386
Accruals and deferred income 2,909 2,240
52,419 89,278