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REGISTERED NUMBER: 06629345 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

MULLACO (DEWSBURY) LTD

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Statement of Directors' Responsibilities 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 15


MULLACO (DEWSBURY) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: A Mulla
A Mulla
A Mulla





REGISTERED OFFICE: Slaithwaite Road
Dewsbury
West Yorkshire
WF12 0AA





REGISTERED NUMBER: 06629345 (England and Wales)





AUDITORS: Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House
Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their strategic report for the year ended 31 August 2024.

REVIEW OF BUSINESS
The results of the company for the year show a total turnover of £11,645,439 (2023: £11,080,597) and profit after tax of £108,631 (2023: £226,561). The shareholders' funds total £1,501,582 (2023: £1,392,951).

PRINCIPAL RISKS AND UNCERTAINTIES
The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. All policies are subject to management approval and ongoing review.

The company has developed a framework for identifying risks to which it is exposed and the impact on economic capital on each of those risks.

The principal risks that the directors considers the company faces are from fluctuations in inflation resulting in inaccurate pricing and changes to customers demands and tastes. The directors maintain a system of monitoring the key risks to the company and the key financial performance indicators and ensures that the company complies with the strict regulatory controls under which it operates.

STRATEGY
The continuing success of the company is dependent upon strong supplier relationships and proper selection, training and retention of personnel, who are core to the success of the company as a whole.

The company will continue to consolidate its existing position whilst also looking to expand this position through the diversification of products where possible.

KEY PERFORMANCE INDICATORS
The directors consider that the company's key financial performance indicators are those which communicate the financial performance and strength of the company as a whole. The company uses IT systems to measure several key performance indicators against its targets including turnover and profit.

The directors consider that the company is continuing to perform in line with the expectations of the Board.

FUTURE DEVELOPMENTS
The directors are confident about the continuing financial performance of the company. However, the directors continue to monitor the impact of local competition and the wider economy on the company.

ON BEHALF OF THE BOARD:





A Mulla - Director


29 August 2025

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 AUGUST 2024


The directors present their report with the financial statements of the company for the year ended 31 August 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a supermarket and online retail.

DIVIDENDS
No dividends will be distributed for the year ended 31 August 2024.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.

A Mulla
A Mulla

Other changes in directors holding office are as follows:

S Mulla - resigned 5 July 2024
A Mulla - appointed 5 July 2024

POLITICAL DONATIONS AND EXPENDITURE
Donations totalling £15,000 were made to support less privileged people.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Shenward LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A Mulla - Director


29 August 2025

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2024


The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULLACO (DEWSBURY) LTD


Opinion
We have audited the financial statements of Mullaco (Dewsbury) Ltd (the 'company') for the year ended 31 August 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULLACO (DEWSBURY) LTD


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULLACO (DEWSBURY) LTD


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the Company and management.

Based on our understanding of the company and industry, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation and regulations which governs the preparation of the financial statements, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to increase profit, through management bias in manipulation of accounting estimates or accounting for significant transactions outside the normal course of business.

Audit procedures performed included, but not limited to:
- Enquiry of management around actual and potential litigation claims and instances of non-compliance with laws and regulations;
- Auditing the risk of management override of controls, through testing journal entries and other adjustments for appropriateness, testing accounting estimates (because of the risk of management bias), and evaluating the business rationale of significant transactions outside the normal course of business;
- Reviewing financial statements disclosures and agreeing to supporting documentation to assess compliance with applicable laws and regulations; and
- Review of board meeting minutes (where held).

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
MULLACO (DEWSBURY) LTD


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Sherad Dewedi (Senior Statutory Auditor)
for and on behalf of Shenward LLP
Chartered Accountants & Statutory Auditors
Summit House
Woodland Park
Bradford Road
Cleckheaton
West Yorkshire
BD19 6BW

29 August 2025

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

INCOME STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

TURNOVER 11,645,439 11,080,597

Cost of sales 9,497,841 9,142,251
GROSS PROFIT 2,147,598 1,938,346

Administrative expenses 2,024,606 1,642,185
122,992 296,161

Other operating income 12,000 13,760
OPERATING PROFIT 5 134,992 309,921


Interest payable and similar expenses 6 22,822 18,293
PROFIT BEFORE TAXATION 112,170 291,628

Tax on profit 7 30,288 65,067
PROFIT FOR THE FINANCIAL YEAR 81,882 226,561

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 81,882 226,561


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

81,882

226,561

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

STATEMENT OF FINANCIAL POSITION
31 AUGUST 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 1,791,559 1,821,613
1,791,559 1,821,613

CURRENT ASSETS
Stocks 10 481,622 718,527
Debtors 11 17,748 11,210
Cash at bank and in hand 43,711 58,201
543,081 787,938
CREDITORS
Amounts falling due within one year 12 549,685 747,339
NET CURRENT (LIABILITIES)/ASSETS (6,604 ) 40,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,784,955

1,862,212

CREDITORS
Amounts falling due after more than one
year

13

(276,885

)

(433,533

)

PROVISIONS FOR LIABILITIES 15 (33,237 ) (35,728 )
NET ASSETS 1,474,833 1,392,951

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 1,474,733 1,392,851
SHAREHOLDERS' FUNDS 1,474,833 1,392,951

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:





A Mulla - Director


MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 AUGUST 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 100 1,166,290 1,166,390

Changes in equity
Total comprehensive income - 226,561 226,561
Balance at 31 August 2023 100 1,392,851 1,392,951

Changes in equity
Total comprehensive income - 81,882 81,882
Balance at 31 August 2024 100 1,474,733 1,474,833

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 174,633 887,665
Interest paid (22,822 ) (18,293 )
Tax paid (9,653 ) (20,627 )
Net cash from operating activities 142,158 848,745

Cash flows from investing activities
Purchase of tangible fixed assets - (52,600 )
Sale of tangible fixed assets - 3,500
Net cash from investing activities - (49,100 )

Cash flows from financing activities
Loan repayments in year (54,708 ) (84,395 )
Amount withdrawn by directors (101,940 ) (108 )
Net cash from financing activities (156,648 ) (84,503 )

(Decrease)/increase in cash and cash equivalents (14,490 ) 715,142
Cash and cash equivalents at
beginning of year

2

58,201

(656,941

)

Cash and cash equivalents at end of
year

2

43,711

58,201

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 AUGUST 2024


1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 112,170 291,628
Depreciation charges 30,054 36,430
Profit on disposal of fixed assets - (1,285 )
Finance costs 22,822 18,293
165,046 345,066
Decrease in stocks 236,905 66,726
(Increase)/decrease in trade and other debtors (6,538 ) 38,099
(Decrease)/increase in trade and other creditors (220,780 ) 437,774
Cash generated from operations 174,633 887,665

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 31 August 2024
31.8.24 1.9.23
£    £   
Cash and cash equivalents 43,711 58,201
Year ended 31 August 2023
31.8.23 1.9.22
£    £   
Cash and cash equivalents 58,201 6,843
Bank overdrafts - (663,784 )
58,201 (656,941 )


3. ANALYSIS OF CHANGES IN NET DEBT

At 1.9.23 Cash flow At 31.8.24
£    £    £   
Net cash
Cash at bank and in hand 58,201 (14,490 ) 43,711
58,201 (14,490 ) 43,711
Debt
Debts falling due after 1 year (228,470 ) 54,708 (173,762 )
(228,470 ) 54,708 (173,762 )
Total (170,269 ) 40,218 (130,051 )

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Mullaco (Dewsbury) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
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. Details of these judgements can be found in the accounting policies.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of eleven years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. ACCOUNTING POLICIES - continued

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the income statement.

Impairment of fixed assets
At each reporting end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

At each reporting end date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its cost and net realisable value is recognised as an impairment loss in the income statement. Reversals of impairment losses are also recognised in the income statement.

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party,

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recorded at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities in payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Taxation
Taxation for the year comprises current and deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
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.

Provisions for liabilities
Provisions are made when an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,516,682 1,181,818
Other pension costs 18,501 14,212
1,535,183 1,196,030

The average number of employees during the year was as follows:
2024 2023

78 76

2024 2023
£    £   
Directors' remuneration 76,147 52,755

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery - 234
Depreciation - owned assets 30,054 36,430
Profit on disposal of fixed assets - (1,285 )
Auditors' remuneration 7,500 -

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank loan interest 22,822 18,272
Interest on overdue tax - 21
22,822 18,293

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 32,779 56,019

Deferred tax (2,491 ) 9,048
Tax on profit 30,288 65,067

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 112,170 291,628
Profit multiplied by the standard rate of corporation tax in the UK of
23.779% (2023 - 21.520%)

26,673

62,758

Effects of:
Capital allowances in excess of depreciation - (6,739 )
Depreciation in excess of capital allowances 6,106 -
Deferred Tax (2,491 ) 9,048
Total tax charge 30,288 65,067

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 70,000
AMORTISATION
At 1 September 2023
and 31 August 2024 70,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

9. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
Building machinery fittings
£    £    £   
COST
At 1 September 2023
and 31 August 2024 1,634,440 138,015 628,929
DEPRECIATION
At 1 September 2023 - 107,549 492,003
Charge for year - 4,570 20,539
At 31 August 2024 - 112,119 512,542
NET BOOK VALUE
At 31 August 2024 1,634,440 25,896 116,387
At 31 August 2023 1,634,440 30,466 136,926

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 27,500 3,010 2,431,894
DEPRECIATION
At 1 September 2023 7,719 3,010 610,281
Charge for year 4,945 - 30,054
At 31 August 2024 12,664 3,010 640,335
NET BOOK VALUE
At 31 August 2024 14,836 - 1,791,559
At 31 August 2023 19,781 - 1,821,613

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


10. STOCKS
2024 2023
£    £   
Stocks 481,622 718,527

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Prepayments 17,748 11,210

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 99,436 450,200
Pensions 2,962 2,374
Other creditors 236,085 235,935
Corporation Tax Payable 79,145 56,019
PAYE 35,135 (11,166 )
VAT 38,382 4,429
Accrued expenses 58,540 9,548
549,685 747,339

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 173,762 228,470
Directors' loan accounts 103,123 205,063
276,885 433,533

Included within the creditors falling after more than one year is a directors current account of £103,123 (2023: £205,063). The maximum balance during the current and previous period was £205,063. No Interest was charged or accrued on the outstanding balance.

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 173,762 228,470

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 33,237 35,728

MULLACO (DEWSBURY) LTD (REGISTERED NUMBER: 06629345)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 September 2023 35,728
Provided during year (2,491 )
Balance at 31 August 2024 33,237

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

17. RESERVES
Retained
earnings
£   

At 1 September 2023 1,392,851
Profit for the year 81,882
At 31 August 2024 1,474,733

18. ULTIMATE CONTROLLING PARTY

The company is controlled by the Directors.