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Company Registration No. 10527957 (England and Wales)
Carey Mc Mullan LTD Unaudited accounts for the year ended 31 March 2024
Carey Mc Mullan LTD Unaudited accounts Contents
Page
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Carey Mc Mullan LTD Company Information for the year ended 31 March 2024
Directors
Carl Anthony Carey Michael Harrington
Company Number
10527957 (England and Wales)
Registered Office
Old Pike View Garage Moorland Street Shaw Oldham OL2 8EW
Accountants
Streamline Accountancy Limited Suite 105, 9 St Georges Court Altrincham Business Park Dairyhouse Lane Altrincham Cheshire WA14 5UA
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Carey Mc Mullan LTD Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
189,631 
180,205 
Current assets
Inventories
4,000 
5,000 
Debtors
454,045 
493,003 
Investments
101,037 
101,037 
Cash at bank and in hand
173,182 
147,086 
732,264 
746,126 
Creditors: amounts falling due within one year
(137,178)
(130,733)
Net current assets
595,086 
615,393 
Total assets less current liabilities
784,717 
795,598 
Creditors: amounts falling due after more than one year
(18,124)
(31,202)
Provisions for liabilities
Deferred tax
(47,406)
(34,239)
Net assets
719,187 
730,157 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
719,177 
730,147 
Shareholders' funds
719,187 
730,157 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by
Michael Harrington Director Company Registration No. 10527957
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Carey Mc Mullan LTD Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Carey Mc Mullan LTD is a private company, limited by shares, registered in England and Wales, registration number 10527957. The registered office is Old Pike View Garage, Moorland Street, Shaw, Oldham, OL2 8EW.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Going concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Presentation currency
The accounts are presented in £ sterling.
Judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. Any estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions to accounting estimates are recognised in the period in which the estimate is revised.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
15% Reducing Balance
Computer equipment
25% Straight Line
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Carey Mc Mullan LTD Notes to the Accounts for the year ended 31 March 2024
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2023
20,205 
179,760 
38,200 
5,109 
243,274 
Additions
3,447 
93,014 
1,400 
- 
97,861 
Disposals
- 
(61,526)
- 
- 
(61,526)
At 31 March 2024
23,652 
211,248 
39,600 
5,109 
279,609 
Depreciation
At 1 April 2023
10,087 
51,175 
- 
1,807 
63,069 
Charge for the year
1,658 
39,033 
7,827 
1,205 
49,723 
On disposals
- 
(22,814)
- 
- 
(22,814)
At 31 March 2024
11,745 
67,394 
7,827 
3,012 
89,978 
Net book value
At 31 March 2024
11,907 
143,854 
31,773 
2,097 
189,631 
At 31 March 2023
10,118 
128,585 
38,200 
3,302 
180,205 
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Carey Mc Mullan LTD Notes to the Accounts for the year ended 31 March 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
135,462 
134,698 
Other debtors
318,583 
358,305 
454,045 
493,003 
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
101,037 
101,037 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Obligations under finance leases and hire purchase contracts
22,520 
10,450 
Trade creditors
36,997 
32,402 
Taxes and social security
60,780 
73,044 
Other creditors
6,881 
4,837 
137,178 
130,733 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
12,500 
22,500 
Obligations under finance leases and hire purchase contracts
5,624 
8,702 
18,124 
31,202 
Assets held under hire purchase are secured upon the assets to which they relate.
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
7 Ordinary A Shares of £0.50 each
3.50 
3.50 
7 Ordinary B Shares of £0.50 each
3.50 
3.50 
6 Ordinary C Shares of £0.50 each
3.00 
3.00 
10.00 
10.00 
10
Transactions with related parties
The company has taken advantage of exemptions specified in FRS 102 and not disclosed the detail and nature of the following transactions ; non material transactions, transactions concluded under normal market conditions and transaction with companies under common control including Group companies.
11
Average number of employees
During the year the average number of employees was 4 (2023: 4).
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