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Registration number: 12264167

Nallum Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Nallum Holdings Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Nallum Holdings Limited

(Registration number: 12264167)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1,200

1,200

Current assets

 

Debtors

5

1,418,059

1,382,517

Creditors: Amounts falling due within one year

6

(108,615)

(86,369)

Net current assets

 

1,309,444

1,296,148

Net assets

 

1,310,644

1,297,348

Capital and reserves

 

Called up share capital

2,000

2,000

Retained earnings

1,308,644

1,295,348

Shareholders' funds

 

1,310,644

1,297,348

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 October 2024
 

.........................................
Mr B Mullan
Director

 

Nallum Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1
Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
United Kingdom

The principal place of business is:
Woodside Livery Stables,
Haynes West End,
Bedfordshire
MK45 3QU

These financial statements were authorised for issue by the director on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

The company did not trade during the year only received dividends from its wholly owned subsidiary.

Group accounts not prepared

The group comprises a small group and has therefore applied the exemption not to prepare group accounts on the basis of its size..

 

Nallum Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tax

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

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. These respresent shares in wholly owned subsidiaries.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Nallum Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investments

2023
£

2022
£

Investments in subsidiaries

1,200

1,200

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,200

Provision

Carrying amount

At 31 December 2023

1,200

At 31 December 2022

1,200

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Mullan Groundworks & Civil Engineering Limited

Unit 1 The Cam Centre, Wilbury Way, Hitchin, Hertfordshire, SG4 0TW

Ordinary

100%

100%

Glenullin Limited

Unit 1 The Cam Centre, Wilbury Way, Hitchin, Hertfordshire, SG4 0TW

Ordinary

100%

100%

BLM Plant Hire Limited

Unit 1 The Cam Centre, Wilbury Way, Hitchin, Hertfordshire, SG4 0TW

Ordinary

100%

100%

 

Nallum Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Subsidiary undertakings

Mullan Groundworks & Civil Engineering Limited

The principal activity of Mullan Groundworks & Civil Engineering Limited is groundworks and general building.

Glenullin Limited

The principal activity of Glenullin Limited is a development company.

BLM Plant Hire Limited

The principal activity of BLM Plant Hire Limited is dormant.

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

1,117,652

1,118,127

Other debtors

 

300,407

264,390

 

1,418,059

1,382,517

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,245

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

100

-

Taxation and social security

 

80,115

80,379

Accruals and deferred income

 

5,805

990

Other creditors

 

21,350

5,000

 

108,615

86,369

7

Share capital

Allotted, called up and fully paid shares

 

Nallum Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2,000

2,000

2,000

2,000

         

8

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £43.50 (2022 - £44.00) per each ordinary share

87,000

88,000

 

 

9

Related party transactions

Summary of transactions with all subsidiaries

At the balance sheet date the company was owed £1,117,652 (2022: £1,117,652) from Glenullin Limited, a wholly owned subsidiary. This amount is repayable on demand and no interest is being charged.

At the balance sheet date the company was owed £100 (2022: £475) from BLM Plant Hire Limited, a wholly owned subsidiary. This amount is repayable on demand and no interest is being charged.



 

Summary of transactions with other related parties

At the balance sheet date the company owed £21,350 (2022: £5,000) to Mr B Mullan the sole director and share holder of the company.

Included in other debtors is £299,240 (2022 £ 264,390) owed to the company from H&E Homes Limited, this company is connected by way of a common director, Mr B Mullan. These loans are interest free and there are repayable on demand.

 

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr B Mullan.