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Registered number: 14835295
Malfy Drylining & Interiors Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
BNC ACCOUNTANTS LTD
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 14835295
2024
Notes £ £
CURRENT ASSETS
Debtors 4 2,296
Cash at bank and in hand 3
2,299
Creditors: Amounts Falling Due Within One Year 5 (1,408 )
NET CURRENT ASSETS (LIABILITIES) 891
TOTAL ASSETS LESS CURRENT LIABILITIES 891
NET ASSETS 891
CAPITAL AND RESERVES
Called up share capital 6 2
Profit and Loss Account 889
SHAREHOLDERS' FUNDS 891
For the year ending 30 April 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M C Byrne
Director
08/04/2025
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Malfy Drylining & Interiors Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14835295 . The registered office is 32 Mountney Close, Ingatestone, England, CM4 9AP.
2. Accounting Policies
2.1. Basis of Preparation of 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.
These financial statements for the year ended 30 April 2024 are the first financial statements of Malfy Drylining & Interiors Ltd prepared in accordance with FRS 102 (Section 1A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of adoption to FRS 102 (Section 1A) was 29 April 2023. 
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged his financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.5. Taxation
Taxation for the year comprises current 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 statement of financial position date.
2.6. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.7. Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2
2
Page 2
Page 3
4. Debtors
2024
£
Due within one year
Directors' loan accounts 2,296
5. Creditors: Amounts Falling Due Within One Year
2024
£
Corporation tax 208
Accruals and deferred income 1,200
1,408
6. Share Capital
2024
£
Allotted, Called up and fully paid 2
During the year, the company issued 2 Ordinary shares at par value of  £1 per share. As at 30 April 2024 there are 2 Ordinary shares in issue.
7. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 29 April 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr M C Byrne - 8,662 (6,366 ) - 2,296
The above loan will be repaid within nine months of the year end.
8. Related Party Transactions
As at the year-end, the directors' loan account balance of Mr M C Byrne (a director and shareholder of the company) is £2,296. This amount is a current asset, interest is charged at a rate of 2.25% per annum and repayable on demand.
Page 3