Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3012023-05-01falseNo description of principal activity1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07230518 2023-05-01 2024-04-30 07230518 2022-05-01 2023-04-30 07230518 2024-04-30 07230518 2023-04-30 07230518 c:Director1 2023-05-01 2024-04-30 07230518 d:PlantMachinery 2023-05-01 2024-04-30 07230518 d:PlantMachinery 2024-04-30 07230518 d:PlantMachinery 2023-04-30 07230518 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07230518 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 07230518 d:OtherPropertyPlantEquipment 2024-04-30 07230518 d:OtherPropertyPlantEquipment 2023-04-30 07230518 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07230518 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07230518 d:CurrentFinancialInstruments 2024-04-30 07230518 d:CurrentFinancialInstruments 2023-04-30 07230518 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07230518 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07230518 d:ShareCapital 2024-04-30 07230518 d:ShareCapital 2023-04-30 07230518 d:RetainedEarningsAccumulatedLosses 2024-04-30 07230518 d:RetainedEarningsAccumulatedLosses 2023-04-30 07230518 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-04-30 07230518 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-04-30 07230518 c:FRS102 2023-05-01 2024-04-30 07230518 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07230518 c:FullAccounts 2023-05-01 2024-04-30 07230518 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07230518 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 07230518









MOLLOY HALE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
MOLLOY HALE LIMITED
REGISTERED NUMBER: 07230518

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,325
2,650

  
1,325
2,650

Current assets
  

Stocks
 5 
27,000
29,264

Debtors: amounts falling due within one year
 6 
4,649
1,807

Cash at bank and in hand
 7 
240
167

  
31,889
31,238

Creditors: amounts falling due within one year
 8 
(63,311)
(57,260)

Net current liabilities
  
 
 
(31,422)
 
 
(26,022)

Total assets less current liabilities
  
(30,097)
(23,372)

  

Net liabilities
  
(30,097)
(23,372)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(30,098)
(23,373)

  
(30,097)
(23,372)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Page 1

 
MOLLOY HALE LIMITED
REGISTERED NUMBER: 07230518
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024




Siobhan Molloy
Director

Date: 28 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Molloy Hale Ltd (comapny number 07230518) is a private company limited by shares, regsitered in England and Wales. Its registered office is Ollerbarrow House, 209-211 Ashley Hale, Altrincham, WA15 9SQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
33%
Straight line
Other fixed assets
-
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.
Page 5

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)


Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1
1

Page 6

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 May 2023
3,969
10,566
14,535



At 30 April 2024

3,969
10,566
14,535



Depreciation


At 1 May 2023
3,969
7,916
11,885


Charge for the year on owned assets
-
1,325
1,325



At 30 April 2024

3,969
9,241
13,210



Net book value



At 30 April 2024
-
1,325
1,325



At 30 April 2023
-
2,650
2,650


5.


Stocks

2024
2023
£
£

Raw materials and consumables
27,000
29,264

27,000
29,264



6.


Debtors

2024
2023
£
£


Other debtors
4,649
1,807

4,649
1,807


Page 7

 
MOLLOY HALE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
240
167

240
167



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
62
443

Corporation tax
8
8

Other taxation and social security
740
-

Other creditors
62,501
56,809

63,311
57,260



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
240
167




Financial assets measured at fair value through profit or loss comprise cash at bank.


10.


Related party transactions

At 30 April 2024 the company owed £61,389 (2023: £50,388) to the director. Interest has been charged to the director in respect of this loan in the amount of £Nil (2023: £NIL) which is repayable on demand and classified in debtors due within one year.

 
Page 8