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REGISTERED NUMBER: NI010812 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

MC NEILL HOTELWARE LIMITED

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MC NEILL HOTELWARE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: M McNeill
Ms L McNeill
S McNeill





REGISTERED OFFICE: Maryland Industrial Estate
286 Ballygowan Road
Castlereagh
Belfast
BT23 6BL





REGISTERED NUMBER: NI010812 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,825 38,768

CURRENT ASSETS
Stocks 226,563 224,697
Debtors 5 189,307 124,725
Cash at bank 12,089 20,241
427,959 369,663
CREDITORS
Amounts falling due within one year 6 346,581 286,437
NET CURRENT ASSETS 81,378 83,226
TOTAL ASSETS LESS CURRENT
LIABILITIES

106,203

121,994

CREDITORS
Amounts falling due after more than one
year

7

(22,443

)

(32,253

)

PROVISIONS FOR LIABILITIES (1,940 ) (2,975 )
NET ASSETS 81,820 86,766

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 71,820 76,766
SHAREHOLDERS' FUNDS 81,820 86,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 authorised for issue by the Board of Directors and authorised for issue on 2 November 2023 and were signed on its behalf by:




M McNeill - Director



Ms L McNeill - Director


MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Mc Neill Hotelware Limited 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.

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


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.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration include the economic viability and expected future financial performance of the assets and the business in general.

Consider the age and condition of stock and the need for any impairment provisions. These considerations are undertaken by directors at regular intervals, especially at the year end date. Factors taken into consideration include the period of ownership of the stock, market demand and historical experience. Stock identified as impaired will be provided against in the relevant period.

Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rate on an annual basis to ensure this estimate remains reasonable.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures, fittings & equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

Financial liabilities
Financial liabilities are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Plant and fittings Motor
machinery & equipment vehicles Totals
£    £    £    £   
COST
At 1 March 2022 7,700 1,414 109,182 118,296
Additions - - 11,918 11,918
Disposals - - (47,198 ) (47,198 )
At 28 February 2023 7,700 1,414 73,902 83,016
DEPRECIATION
At 1 March 2022 7,551 1,414 70,563 79,528
Charge for year 23 - 11,411 11,434
Eliminated on disposal - - (32,771 ) (32,771 )
At 28 February 2023 7,574 1,414 49,203 58,191
NET BOOK VALUE
At 28 February 2023 126 - 24,699 24,825
At 28 February 2022 149 - 38,619 38,768

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 44,894
DEPRECIATION
At 1 March 2022 32,428
Charge for year 3,117
At 28 February 2023 35,545
NET BOOK VALUE
At 28 February 2023 9,349
At 28 February 2022 12,466

MC NEILL HOTELWARE LIMITED (REGISTERED NUMBER: NI010812)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 179,193 115,059
Other debtors 10,114 9,666
189,307 124,725

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 141,085 107,334
Trade creditors 112,420 115,276
Taxation and social security 65,753 55,313
Other creditors 27,323 8,514
346,581 286,437

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 22,443 32,253

8. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank overdrafts 130,437 96,686

The bank overdrafts relate to a receivables financing agreement which is secured by a fixed charge over book debts within the agreement and a floating charge over all the rights and assets of the company excluding the book debts which are subject to the fixed charge.

9. RELATED PARTY DISCLOSURES

Rent is paid by the company to a shareholder in the amount of £15,000.

No further transactions are required to be disclosed under FRS 102 Section 1A.