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REGISTERED NUMBER: NI044373 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Mullaghboy Construction Limited

Mullaghboy Construction Limited (Registered number: NI044373)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Mullaghboy Construction Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs C Keatley
J J Keatley



SECRETARY: Mrs C Keatley



REGISTERED OFFICE: 11 Desertmartin Road
Magherafelt
Co Derry
BT45 5HD



REGISTERED NUMBER: NI044373 (Northern Ireland)



ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH



BANKERS: Danske Bank
Derry/Londonderry Finance Centre
6 Shipquay Place
Londonderry
BT48 6DF

Mullaghboy Construction Limited (Registered number: NI044373)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 60,348 51,418

CURRENT ASSETS
Stocks 1,218,668 933,284
Debtors 5 84,235 106,736
Cash at bank 113,310 455,280
1,416,213 1,495,300
CREDITORS
Amounts falling due within one year 6 279,755 279,718
NET CURRENT ASSETS 1,136,458 1,215,582
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,196,806

1,267,000

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 1,186,806 1,257,000
1,196,806 1,267,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:



J J Keatley - Director


Mullaghboy Construction Limited (Registered number: NI044373)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Mullaghboy Construction Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 10% on cost
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Mullaghboy Construction Limited (Registered number: NI044373)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 57,450 67,701 125,151
Additions - 26,000 26,000
At 31 March 2024 57,450 93,701 151,151
DEPRECIATION
At 1 April 2023 17,235 56,498 73,733
Charge for year 11,490 5,580 17,070
At 31 March 2024 28,725 62,078 90,803
NET BOOK VALUE
At 31 March 2024 28,725 31,623 60,348
At 31 March 2023 40,215 11,203 51,418

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Other debtors 84,235 106,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Taxation and social security - (1,937 )
Other creditors 279,755 281,655
279,755 279,718

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31/3/24 31/3/23
£    £   
J J Keatley
Balance outstanding at start of year 97,295 130,795
Amounts advanced 82,669 97,295
Amounts repaid (97,295 ) (130,795 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 82,669 97,295

Mullaghboy Construction Limited (Registered number: NI044373)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

£97,295 was the maximum amount outstanding during the year. The overdrawn directors loan account was repaid within 9 months of the year end.