Mulligan Coachworks Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI053983 (Northern Ireland)

Mulligan Coachworks Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2018

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

R H Mulligan

H S Mulligan

SECRETARY:

R H Mulligan

REGISTERED OFFICE:

51 Rowantree Road

Dromore

Co. Down

BT25 1NN

REGISTERED NUMBER:

NI053983 (Northern Ireland)

ACCOUNTANTS:

S.M Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Down

BT32 3HN

The following reproduces the text of the report prepared for the directors 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 Directors are

not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 28 February 2018 set out on pages one to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

S.M Vint & Company

Chartered Certified Accountants

8 Newry Road

Banbridge

Down

BT32 3HN

8 January 2019

FIXED ASSETS

Intangible assets

4

56,000

Tangible assets

5

10,000

66,000

CURRENT ASSETS

Stocks

15,000

Debtors

6

69,586

Cash at bank and in hand

127,321

211,907

CREDITORS

Amounts falling due within one year

7

208,841

NET CURRENT ASSETS

3,066

TOTAL ASSETS LESS CURRENT LIABILITIES

69,066

CAPITAL AND RESERVES

Called up share capital

6

Retained earnings

69,060

SHAREHOLDERS' FUNDS

69,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 January 2019 and were signed on its behalf by:

H S Mulligan - Director

R H Mulligan - Director

1.	STATUTORY INFORMATION

Mulligan Coachworks 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of five 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.

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 etc

-

20% 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 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 4 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

70,000

At 28 February 2018

70,000

AMORTISATION

Charge for year

14,000

At 28 February 2018

14,000

NET BOOK VALUE

At 28 February 2018

56,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

12,500

At 28 February 2018

12,500

DEPRECIATION

Charge for year

2,500

At 28 February 2018

2,500

NET BOOK VALUE

At 28 February 2018

10,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

69,538

Other debtors

48

69,586

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

87,409

Taxation and social security

32,800

Other creditors

88,632

208,841