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Registration number: NI701341

MALCOR Fitout Ltd

Unaudited Filleted Financial Statements

for the Period from 5 September 2023 to 30 September 2024

 

MALCOR Fitout Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

MALCOR Fitout Ltd

Company Information

Director

Mr Shane Malone

Registered office

12 Dernanaught Road
Gallbally
Co Tyrone
BT70 3BT

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

MALCOR Fitout Ltd

(Registration number: NI701341)
Balance Sheet as at 30 September 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

859

Current assets

 

Stocks

5

6,000

Debtors

6

1,390

Cash at bank and in hand

 

8,491

 

15,881

Creditors: Amounts falling due within one year

7

(21,830)

Net current liabilities

 

(5,949)

Total assets less current liabilities

 

(5,090)

Provisions for liabilities

(163)

Net liabilities

 

(5,253)

Capital and reserves

 

Called up share capital

8

100

Retained earnings

(5,353)

Shareholders' deficit

 

(5,253)

For the financial period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 July 2025
 

.........................................
Mr Shane Malone
Director

   
     
 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
12 Dernanaught Road
Gallbally
Co Tyrone
BT70 3BT

These financial statements were authorised for issue by the director on 1 July 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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 initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

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 initially 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

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

Additions

1,145

1,145

At 30 September 2024

1,145

1,145

Depreciation

Charge for the period

286

286

At 30 September 2024

286

286

Carrying amount

At 30 September 2024

859

859

5

Stocks

2024
£

Work in progress

6,000

6

Debtors

Current

2024
£

Other debtors

1,390

 

1,390

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

3,360

Accruals and deferred income

1,200

Other creditors

17,270

21,830

8

Share capital

Allotted, called up and fully paid shares

 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

2024

No.

£

Ordinary shares of £1 each

100

100

   

9

Related party transactions

 

MALCOR Fitout Ltd

Notes to the Unaudited Financial Statements for the Period from 5 September 2023 to 30 September 2024

Transactions with the director

2024

At 5 September 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr Shane Malone

Directors loan repayable on demand

-

(10,222)

25,104

14,882