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W Mullett Limited

Financial Statements for the Year Ended 31 May 2025






W Mullett Limited

Company Information
for the Year Ended 31 May 2025







DIRECTOR: I D Mullett





SECRETARY: M C Mullett





REGISTERED OFFICE: Unit 5, Verlon Close
Ty Verlon Industrial Estate
Barry
Vale of Glamorgan
CF63 2BE





REGISTERED NUMBER: 00693071 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
W Mullett Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of W Mullett Limited for the year ended 31 May 2025 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at icaew.com/membershandbook.

This report is made solely to the director of W Mullett Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of W Mullett Limited and state those matters that we have agreed to state to the director of W Mullett Limited in this report in accordance with icaew/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than W Mullett Limited and its director for our work or for this report.

It is your duty to ensure that W Mullett Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of W Mullett Limited. You consider that W Mullett Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of W Mullett Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


12 August 2025

W Mullett Limited (Registered number: 00693071)

Balance Sheet
31 May 2025

2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible assets 3 8,867 10,034

CURRENT ASSETS
Stocks 6,605 2,973
Debtors 4 36,008 66,292
Cash at bank and in hand 202,642 253,758
245,255 323,023
CREDITORS
Amounts falling due within one year 5 38,439 81,805
NET CURRENT ASSETS 206,816 241,218
TOTAL ASSETS LESS CURRENT
LIABILITIES

215,683

251,252

PROVISIONS FOR LIABILITIES 1,685 1,906
NET ASSETS 213,998 249,346

CAPITAL AND RESERVES
Called up share capital 30 30
Capital redemption reserve 270 270
Retained earnings 213,698 249,046
SHAREHOLDERS' FUNDS 213,998 249,346

W Mullett Limited (Registered number: 00693071)

Balance Sheet - continued
31 May 2025


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 August 2025 and were signed by:





I D Mullett - Director


W Mullett Limited (Registered number: 00693071)

Notes to the Financial Statements
for the Year Ended 31 May 2025


1. 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.

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 - 25% reducing balance
Motor vehicles - 25% 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 Profit and Loss Account, 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.

W Mullett Limited (Registered number: 00693071)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2025


1. ACCOUNTING POLICIES - continued

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 6 ) .

3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 June 2024 6,543 800 31,199 38,542
Additions 1,491 - - 1,491
At 31 May 2025 8,034 800 31,199 40,033
DEPRECIATION
At 1 June 2024 4,236 800 23,472 28,508
Charge for year 726 - 1,932 2,658
At 31 May 2025 4,962 800 25,404 31,166
NET BOOK VALUE
At 31 May 2025 3,072 - 5,795 8,867
At 31 May 2024 2,307 - 7,727 10,034

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade debtors 27,531 33,504
Other debtors & prepayments 8,477 32,788
36,008 66,292

W Mullett Limited (Registered number: 00693071)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2025


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 24,424 26,569
Taxes & social security costs 7,066 48,449
Other creditors & accruals 6,949 6,787
38,439 81,805

6. ULTIMATE CONTROLLING PARTY

The controlling party is I D Mullett.