REGISTERED NUMBER: NI063039 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Mullan Property Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Shane Mullan

REGISTERED OFFICE:

5th Floor Blackstaff Studios

8-10 Amelia Street

Belfast

Co. Antrim

BT2 7GS

REGISTERED NUMBER:

NI063039 (Northern Ireland)

ACCOUNTANTS:

M.B.McGrady & Co

Chartered Accountants

Suite 2B

Cadogan House

322 Lisburn Road

Belfast

Co. Antrim

BT9 6GH

FIXED ASSETS

Tangible assets

4

-

-

Investment property

5

253,953

253,953

253,953

253,953

CURRENT ASSETS

Debtors

6

48,300

41,400

Cash at bank

1,545

6,242

49,845

47,642

CREDITORS

Amounts falling due within one year

7

183,676

169,640

NET CURRENT LIABILITIES

(133,831

)

(121,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

120,122

131,955

CREDITORS

Amounts falling due after more than one year

8

20,953

35,219

NET ASSETS

99,169

96,736

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

99,168

96,735

SHAREHOLDERS' FUNDS

99,169

96,736

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 July 2026 and were signed by:

Mr Shane Mullan - Director

1.	STATUTORY INFORMATION

Mullan Property Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	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.

Fixtures and fittings

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

3,582

DEPRECIATION

At 1 April 2024

and 31 March 2025

3,582

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

253,953

NET BOOK VALUE

At 31 March 2025

253,953

At 31 March 2024

253,953

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Other debtors

48,300

41,400

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

16,095

16,095

Taxation and social security

558

1,850

Other creditors

167,023

151,695

183,676

169,640

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans

20,953

35,219

9.	RELATED PARTY DISCLOSURES

The company was under the control of Mr Shane Mullan throughout the current and previous year. Mr Mullan is the managing director and majority shareholder.

Mr Mullan has given a personal guarantee to secure the bank loan over the property owned by the company.

No other transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standards.