Registered number
09136041
Mallory Developments Ltd
Filleted Accounts
31 July 2024
Mallory Developments Ltd
Registered number: 09136041
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 343,193 -
Current assets
Stocks - 190,643
Debtors 4 6,480 12,347
Cash at bank and in hand 1,266 34,211
7,746 237,201
Creditors: amounts falling due within one year 5 (423,527) (305,692)
Net current liabilities (415,781) (68,491)
Total assets less current liabilities (72,588) (68,491)
Creditors: amounts falling due after more than one year 6 (26,952) (32,460)
Net liabilities (99,540) (100,951)
Capital and reserves
Called up share capital 1 1
Profit and loss account (99,541) (100,952)
Shareholder's funds (99,540) (100,951)
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 member has 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.
Alan Oaten
Director
Approved by the board on 25 April 2025
Mallory Developments Ltd
Notes to the Accounts
for the year ended 31 July 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).
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for a foreseeable future. This assumption depends on the continued support from the directors of the company.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet value of the assets to their recoverable amounts, and to provide for further liabilities that may arise, and to reclassify fixed assets as current assets.

The directors believe that it is appropriate for the financial statements to be prepared on going concern basis. No adjustments have been made to the financial statements that would be necessary if the company were unable to continue in business.
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.
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 0 0
3 Investment Property
Investment
Property
£ £
Cost
Additions 343,193
At 31 July 2024 343,193
The investment property is shown at the fair value in accordance with FRS 102 Section 16, with changes in fair value recognised in profit and loss.

No formal external valuation was obtained. The directors based their estimate on available market information, such as local property trends, rental income, and recent sales of similar properties. This estimate is subject to judgement.

The directors are satisfied that the value used is a reasonable estimate of the property's market value at the year-end.
4 Debtors 2024 2023
£ £
Other debtors 6,480 12,347
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,515 5,515
Trade creditors 4,996 7,728
Director's Loan account 151,120 151,915
Other creditors 261,896 140,534
423,527 305,692
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 26,952 32,460
7 Related party transactions
As of the balance sheet date, the company discloses the balances with its group undertakings having common directorships.

At the balance sheet date, the company was due a balance amounting to £100 (2023: £100) from Alan Oaten Trading Ltd.

The comany also discloses the balance amounting to £259,854 (2023: £138,582) due to A Oaten (Plant Hire) Limited.

There are no further transactions that need to be disclosed under FRS102, beyond those already disclosed here or within the other sections of the financial statements.
8 Other information
Mallory Developments Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 High Street
Wellington
Somerset
TA21 8QT
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