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Registration number: NI664839

S Mullin Contracts Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

S Mullin Contracts Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

S Mullin Contracts Ltd

Company Information

Director

Mr Stephen Mullin

Registered office

17 Murnells Road
Pomeroy
Dungannon
Co Tyrone
BT70 2SL

Accountants

Anne Douglas Ltd
2 Killyman Street
Moy
Co Tyrone
BT71 7SJ

 

S Mullin Contracts Ltd

(Registration number: NI664839)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,323

5,573

Current assets

 

Stocks

5

548

20,210

Cash at bank and in hand

 

1,599

4,839

 

2,147

25,049

Creditors: Amounts falling due within one year

7

(10,663)

(39,449)

Net current liabilities

 

(8,516)

(14,400)

Net liabilities

 

(3,193)

(8,827)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(3,293)

(8,927)

Shareholders' deficit

 

(3,193)

(8,827)

For the financial year ending 31 October 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 31 October 2024
 

 

S Mullin Contracts Ltd

(Registration number: NI664839)
Balance Sheet as at 31 October 2023

.........................................
Mr Stephen Mullin
Director

 

S Mullin Contracts Ltd

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

1

General information

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

The address of its registered office is:
17 Murnells Road
Pomeroy
Dungannon
Co Tyrone
BT70 2SL
Northern Ireland

These financial statements were authorised for issue by the director on 31 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

S Mullin Contracts Ltd

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

15% Reducing Balance

Plant and Machinery

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

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.

 

S Mullin Contracts Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

 

S Mullin Contracts Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

499

10,287

10,786

Additions

998

-

998

At 31 October 2023

1,497

10,287

11,784

Depreciation

At 1 November 2022

193

5,020

5,213

Charge for the year

195

1,053

1,248

At 31 October 2023

388

6,073

6,461

Carrying amount

At 31 October 2023

1,109

4,214

5,323

At 31 October 2022

306

5,267

5,573

5

Stocks

2023
£

2022
£

Raw materials and consumables

548

1,645

Work in progress

-

18,565

548

20,210

6

Debtors

Current

2023
£

2022
£

 

-

-

 

S Mullin Contracts Ltd

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

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,923

14,381

Taxation and social security

2,762

4,149

Accruals and deferred income

725

725

Other creditors

4,253

20,194

10,663

39,449

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share class 1 of £1 each

100

100

100

100