Registered number
09642856
Malin House Ltd
Filleted Accounts
30 June 2024
Malin House Ltd
Registered number: 09642856
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 13,726 29,982
43,726 59,982
Current assets
Stocks 1,800 1,800
Cash at bank and in hand 36,275 46,809
38,075 48,609
Creditors: amounts falling due within one year 5 (16,341) (22,557)
Net current assets 21,734 26,052
Total assets less current liabilities 65,460 86,034
Creditors: amounts falling due after more than one year 6 (6,328) (13,543)
Net assets 59,132 72,491
Capital and reserves
Called up share capital 100 100
Profit and loss account 59,032 72,391
Shareholders' funds 59,132 72,491
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Christopher Coleman
Director
Approved by the board on 19 March 2025
Malin House Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 30,000
At 30 June 2024 30,000
Amortisation
At 30 June 2024 -
Net book value
At 30 June 2024 30,000
At 30 June 2023 30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Fixtures & Fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 13,460 17,518 33,526 64,504
Additions 58 1,961 575 2,594
Disposals (1,876) (5,668) (24,995) (32,539)
At 30 June 2024 11,642 13,811 9,106 34,559
Depreciation
At 1 July 2023 8,520 10,466 15,536 34,522
Charge for the year 481 1,583 874 2,938
On disposals (3,935) (1,319) (11,373) (16,627)
At 30 June 2024 5,066 10,730 5,037 20,833
Net book value
At 30 June 2024 6,576 3,081 4,069 13,726
At 30 June 2023 4,940 7,052 17,990 29,982
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 7,855 8,040
Trade creditors 3,741 3,800
Booking Deposits in advance 4,468 4,595
Taxation and social security costs 17 4,088
Director's Loan Account 260 2,034
16,341 22,557
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 6,328 13,543
7 Other information
Malin House Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Malin House Hotel
St Brides Hill
Saundersfoot
SA69 9NP
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