REGISTERED NUMBER: 09361746 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Mullan Groundworks & Civil Engineering

Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

B Mullan

REGISTERED OFFICE:

Unit 1 The Cam Centre

Wilbury Way

Hitchin

Hertfordshire

SG4 0TW

REGISTERED NUMBER:

09361746 (England and Wales)

FIXED ASSETS

Tangible assets

4

826,497

1,165,899

CURRENT ASSETS

Stocks

675,257

1,007,110

Debtors

5

1,155,602

1,404,230

Cash at bank

34,080

19,367

1,864,939

2,430,707

CREDITORS

Amounts falling due within one year

6

1,584,449

2,066,324

NET CURRENT ASSETS

280,490

364,383

TOTAL ASSETS LESS CURRENT LIABILITIES

1,106,987

1,530,282

CREDITORS

Amounts falling due after more than one year

7

(32,389

)

(181,689

)

PROVISIONS FOR LIABILITIES

(145,163

)

(204,903

)

NET ASSETS

929,435

1,143,690

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

928,435

1,142,690

SHAREHOLDERS' FUNDS

929,435

1,143,690

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

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

The director acknowledges his 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 Statement of Profit and Loss and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 June 2025 and were signed by:

B Mullan - Director

1.	STATUTORY INFORMATION

Mullan Groundworks & Civil Engineering Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Statement of compliance

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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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 Statement of Profit and Loss and Retained Earnings, 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.

Hire purchase and leasing commitments

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Debtors include amounts recoverable on long term contracts. When a contract has not been invoiced at the year end an amount is recorded for the value of that work undertaken to date on a percentage complete basis.

The company invoices customers net of retentions, given the historic recovery of retentions, retentions raised but not yet invoiced is recognised within debtors at their invoice value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

1,882,605

55,466

379,370

26,256

2,343,697

Additions

6,325

-

-

-

6,325

Disposals

(438,793

)

-

(51,576

)

-

(490,369

)

At 31 December 2024

1,450,137

55,466

327,794

26,256

1,859,653

DEPRECIATION

At 1 January 2024

911,388

42,084

203,512

20,814

1,177,798

Charge for year

74,961

3,345

33,233

1,360

112,899

Eliminated on disposal

(215,660

)

-

(41,881

)

-

(257,541

)

At 31 December 2024

770,689

45,429

194,864

22,174

1,033,156

NET BOOK VALUE

At 31 December 2024

679,448

10,037

132,930

4,082

826,497

At 31 December 2023

971,217

13,382

175,858

5,442

1,165,899

The above assets include assets held on hire purchase contracts. These are secured on the assets concerned. The total net book value of assets held on hire purchase is £364,799 (2023: £603,069. The total depreciation charged in the year in respect of these assets was £40,533 (2023: £70,972).

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

222,678

259,890

Amounts owed by group undertakings

198,875

7,190

Other debtors

734,049

1,137,150

1,155,602

1,404,230

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts (see note 8)

40,640

38,456

Hire purchase contracts

91,929

180,633

Trade creditors

677,822

1,270,963

Amounts owed to group undertakings

359,945

257,945

Taxation and social security

215,287

186,146

Other creditors

198,826

132,181

1,584,449

2,066,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans (see note 8)

32,389

73,806

Hire purchase contracts

-

107,883

32,389

181,689

8.

LOANS

Certain assets are held on hire purchase contracts, the amounts are secured on the assets concerned. The total amount amount due is £91,959 and this due within one year.

The company has a Coronavirus Business Interruption Loan (CBIL) and this is secured by a fixed and floating charge over the assets of the company. The total amount outstanding is £72,389, of this amount £40,000 is due within one year and £32,389 is due over one year.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,000

Ordinary share class 1

1

1,000

1,000

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Nallum Hioldings Limited.

The ultimate controlling party is B Mullan.

The company's immediate parent is Nallum Holdings Limited , incorporated in England and Wales.

The ultimate controlling party is Mr B Mullan.

Summary of transactions with other related parties

At the balance sheet date the company owed the Director, Mr B Mullan, £294 (2023: £496). There is no interest charged to the director and no terms for repayment.

At the balance sheet date the company was owed £188,245 (2023: £nil) by Nallum Holdings Limited its parent company.This amount is repayable on demand and no interest is being charged.

At the balance sheet date the company was owed £8,342 (2023: £7,190) by H&E Homes Limited, a company associated by common directorship of Mr B Mullan. This amount is repayable on demand and no interest is being charged.

At the balance sheet date the company owed £359,945 (2023: £257,945l) to Glenullin Limited, a group company. This amount is repayable on demand and no interest is being charged.

At the balance sheet date the company was owed £2,288 (2023: £nil) by BLM Plant Hire Limited, a group company. This amount is repayable on demand and no interest is being charged.