Company Registration No. NI603961 (Northern Ireland)
MAC Farms Ltd
Unaudited accounts
for the year ended 31 August 2023
MAC Farms Ltd
Unaudited accounts
Contents
MAC Farms Ltd
Company Information
for the year ended 31 August 2023
Directors
Niall McKelvey
Sonya McKelvey
Company Number
NI603961 (Northern Ireland)
Registered Office
43 Skreen Road
Omagh
Co Tyrone
BT78 1SR
Accountants
A D Pottie & Co Ltd
1 Church Street
Fintona
Tyrone
BT78 2BR
MAC Farms Ltd
Statement of financial position
as at 31 August 2023
Tangible assets
1,538,768
578,872
Inventories
186,051
117,840
Cash at bank and in hand
59,029
27,491
Creditors: amounts falling due within one year
(620,781)
(281,659)
Net current liabilities
(250,202)
(15,228)
Total assets less current liabilities
1,288,566
563,644
Creditors: amounts falling due after more than one year
(627,273)
(49,252)
Net assets
661,293
514,392
Called up share capital
100
100
Profit and loss account
661,193
514,292
Shareholders' funds
661,293
514,392
For the year ending 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2024 and were signed on its behalf by
Niall McKelvey
Director
Company Registration No. NI603961
MAC Farms Ltd
Notes to the Accounts
for the year ended 31 August 2023
MAC Farms Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI603961. The registered office is 43 Skreen Road, Omagh, Co Tyrone, BT78 1SR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2022
459,400
664,262
1,123,662
Additions
960,750
35,850
996,600
At 31 August 2023
1,420,150
700,112
2,120,262
At 1 September 2022
-
544,790
544,790
Charge for the year
-
36,704
36,704
At 31 August 2023
-
581,494
581,494
At 31 August 2023
1,420,150
118,618
1,538,768
At 31 August 2022
459,400
119,472
578,872
MAC Farms Ltd
Notes to the Accounts
for the year ended 31 August 2023
Amounts falling due within one year
Trade debtors
92,656
105,242
Other debtors
21,620
5,319
6
Investments held as current assets
2023
2022
Unlisted investments
100
100
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
22,595
18,694
Obligations under finance leases and hire purchase contracts
27,456
16,296
Trade creditors
102,708
104,318
Taxes and social security
19,904
-
Loans from directors
447,118
141,351
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
23,627
15,395
9
Average number of employees
During the year the average number of employees was 7 (2022: 7).