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REGISTERED NUMBER: NI634826 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

McKee Engineering Solutions Ltd

McKee Engineering Solutions Ltd (Registered number: NI634826)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 10


McKee Engineering Solutions Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: W McKee
Mrs G R McKee





REGISTERED OFFICE: Unit 25
Glenavy Road Business Park
20 Glenavy Road
Moira
BT67 0LT





REGISTERED NUMBER: NI634826 (Northern Ireland)





ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
McKee Engineering Solutions Ltd

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 Statement of Financial Position. 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.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 30 November 2023 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report 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 Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 30 November 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE


4 March 2024

McKee Engineering Solutions Ltd (Registered number: NI634826)

Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 370,101 116,996
370,101 116,996

CURRENT ASSETS
Stocks 7 46,688 41,495
Debtors 8 343,522 166,048
Cash at bank and in hand 16,019 12,680
406,229 220,223
CREDITORS
Amounts falling due within one year 9 326,533 164,372
NET CURRENT ASSETS 79,696 55,851
TOTAL ASSETS LESS CURRENT
LIABILITIES

449,797

172,847

CREDITORS
Amounts falling due after more than one
year

10

(251,860

)

(102,695

)

PROVISIONS FOR LIABILITIES 13 (75,321 ) (19,095 )
NET ASSETS 122,616 51,057

McKee Engineering Solutions Ltd (Registered number: NI634826)

Statement of Financial Position - continued
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 14 10 10
Retained earnings 122,606 51,047
SHAREHOLDERS' FUNDS 122,616 51,057

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:




W McKee - Director



Mrs G R McKee - Director


McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

McKee Engineering Solutions 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.

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" including the provisions of Section 1A "Small Entities" 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.

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 2015, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on Reducing Balance
Motor vehicles - 25% on Reducing Balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment ar recognised in the profit and loss account in other administrative expenses.

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 12 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 10,800
AMORTISATION
At 1 December 2022
and 30 November 2023 10,800
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2022 197,927 4,010 44,224 246,161
Additions 299,352 - - 299,352
At 30 November 2023 497,279 4,010 44,224 545,513
DEPRECIATION
At 1 December 2022 99,248 1,773 28,144 129,165
Charge for year 37,802 560 7,885 46,247
At 30 November 2023 137,050 2,333 36,029 175,412
NET BOOK VALUE
At 30 November 2023 360,229 1,677 8,195 370,101
At 30 November 2022 98,679 2,237 16,080 116,996

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022 115,870 26,290 142,160
Additions 262,000 - 262,000
At 30 November 2023 377,870 26,290 404,160
DEPRECIATION
At 1 December 2022 50,710 15,337 66,047
Charge for year 27,549 6,573 34,122
At 30 November 2023 78,259 21,910 100,169
NET BOOK VALUE
At 30 November 2023 299,611 4,380 303,991
At 30 November 2022 65,160 10,953 76,113

7. STOCKS
30.11.23 30.11.22
£    £   
Work-in-progress 46,688 41,495

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 343,522 165,813
Prepayments - 235
343,522 166,048

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts (see note 11) 22,506 22,506
Hire purchase contracts 61,570 27,885
Trade creditors 147,257 71,115
McKee Investments Ltd 15,904 -
Social security and other taxes 10,885 9,271
VAT 8,183 27,831
Other loans 40,000 -
Company credit card 9,850 162
Directors' current accounts 3,510 549
Accrued expenses 6,868 5,053
326,533 164,372

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 11) 37,052 59,310
Hire purchase contracts 214,808 43,385
251,860 102,695

11. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 8
Bank loans 22,506 22,498
22,506 22,506

Amounts falling due between one and two years:
Bank loans - 1-2 years 22,506 22,498

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,546 36,812

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

12. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Hire purchase contracts 276,378 71,270

13. PROVISIONS FOR LIABILITIES
30.11.23 30.11.22
£    £   
Deferred tax
Accelerated capital allowances 56,226 19,095
Deferred tax 19,095 -
75,321 19,095

Deferred
tax
£   
Balance at 1 December 2022 19,095
Provided during year 56,226
Balance at 30 November 2023 75,321

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
10 Ordinary 10 10 10

15. ULTIMATE CONTROLLING PARTY

Willie and Guinevere McKee are the directors and shareholders in the company and are the ultimate controlling party of the company.