REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
MCLAREN PULLAN LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
MCLAREN PULLAN LIMITED |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Statement of Income and Retained Earnings | 3 |
Statement of Financial Position | 4 |
Notes to the Financial Statements | 6 |
MCLAREN PULLAN LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 OCTOBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Annexe, Minerva House |
Bordyke |
Tonbridge |
Kent |
TN9 1NR |
BANKERS: |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
REPORT OF THE DIRECTOR |
for the Year Ended 31 OCTOBER 2023 |
The director presents his report with the financial statements of the company for the year ended 31 October 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of property development. |
DIRECTOR |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
STATEMENT OF INCOME AND |
RETAINED EARNINGS |
for the Year Ended 31 OCTOBER 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS (LOSS)/PROFIT | ( |
) |
Administrative expenses |
(268,075 | ) | 71,034 |
Other operating income |
OPERATING (LOSS)/PROFIT | 4 | ( |
) |
Interest payable and similar expenses |
(LOSS)/PROFIT BEFORE TAXATION | ( |
) |
Tax on (loss)/profit | 5 |
(LOSS)/PROFIT FOR THE FINANCIAL YEAR |
( |
) |
Retained earnings at beginning of year | ( |
) |
RETAINED EARNINGS AT END OF YEAR |
( |
) |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks | 7 |
Debtors | 8 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET (LIABILITIES)/ASSETS | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings | 13 | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2023 |
The financial statements were approved by the director and authorised for issue on |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
MCLAREN PULLAN LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Motor vehicles | - |
Office and computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 |
31.10.23 | 31.10.22 |
£ | £ |
Director's remuneration |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 OCTOBER 2023 |
4. | OPERATING (LOSS)/PROFIT |
The operating loss (2022 - operating profit) is stated after charging: |
31.10.23 | 31.10.22 |
£ | £ |
Depreciation - owned assets |
5. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 31 October 2023 nor for the year ended 31 October 2022. |
6. | TANGIBLE FIXED ASSETS |
Office |
and |
Motor | computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 November 2022 |
and 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
7. | STOCKS |
31.10.23 | 31.10.22 |
£ | £ |
Stocks |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Other debtors |
VAT |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 OCTOBER 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans and overdrafts (see note 11) |
Other loans (see note 11) |
Social security and other taxes |
Other creditors |
Directors' loan accounts | 312,481 | 329,535 |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans (see note 11) |
Other loans (see note 11) |
11. | LOANS |
An analysis of the maturity of loans is given below: |
31.10.23 | 31.10.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Other loans |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
Other loans - 1-2 years | 501,211 |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary | £1 | 300 | 300 |
Non-voting B shares | £1 | 300 | 300 |
600 | 600 |
MCLAREN PULLAN LIMITED (Registered number: 10213629) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 OCTOBER 2023 |
13. | RESERVES |
Retained |
earnings |
£ |
At 1 November 2022 |
Deficit for the year | ( |
) |
At 31 October 2023 | ( |
) |