REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
H MULLANEY & SON LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
FOR |
H MULLANEY & SON LIMITED |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
H MULLANEY & SON LIMITED |
COMPANY INFORMATION |
for the Year Ended 31st March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
BALANCE SHEET |
31st March 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
The directors acknowledge their 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. |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
BALANCE SHEET - continued |
31st March 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st March 2024 |
1. | STATUTORY INFORMATION |
H Mullaney & Son Limited is a private company limited by share capital, incorporated in England and Wales, registration number 01187578. The address of the registered office and principal place of business is Brownedge Farm, Broadcarr Lane, Mossley, Ashton-Under-Lyne, Lancashire, OL5 0JL. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represent amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. |
Turnover principally consists of income received from the collection and disposal of non-hazardous waste. |
Tangible fixed assets |
Fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Freehold property | - | 2% on reducing balance |
Plant and Machinery | - | 15% on reducing balance |
Motor vehicles | - | 25% on reducing balance |
At each balance sheet date, the Company reviews the carrying amounts of its fixed assets to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is based on the first-in-first-out principle and includes expenditure in acquiring the stocks, product or conversion costs and other costs in bringing them to their existing location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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 balance sheet date. |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. |
The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
The obligations for contributions to defined contribution scheme are recognised as an expense as incurred. The assets of the scheme are held separately from those of the company in an independent administered fund. |
Investments |
Investments are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the trade debtors and other debtors are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and in hand. |
Financial instruments |
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from other third parties and loans from related parties. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st April 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
5. | FIXED ASSET INVESTMENTS |
Other |
investment |
£ |
COST OR VALUATION |
At 1st April 2023 |
Disposals | ( |
) |
Revaluations |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
Cost or valuation at 31st March 2024 is represented by: |
Other |
investment |
£ |
Valuation in 2024 | 17,970 |
Cost | 121,354 |
139,324 |
H MULLANEY & SON LIMITED (REGISTERED NUMBER: 01187578) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 54,785 | - |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 53,649 | 15,609 |
Other creditors |
Directors' current accounts | 88,888 | 122,974 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Numbers: | Class: | Nominal | 2023 | 2022 |
Value: | £ | £ |
400 | Ordinary "A" | £ 1.00 | 400 | 400 |
250 | Ordinary "B" | £ 1.00 | 250 | 250 |
250 | Ordinary "C" | £ 1.00 | 250 | 250 |
50 | Ordinary "D" | £ 1.00 | 50 | 50 |
50 | Ordinary "E" | £ 1.00 | 50 | 50 |
1,000 | 1,000 |
10. | RELATED PARTY DISCLOSURES |
At the year end the company had amounts owed to D Mullaney totalling £9,288 (2023: £13,278). These balances relate to interest free loans, repayable on demand. |