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REGISTERED NUMBER: NI050011 (Northern Ireland)















M & K QUARRY PLANT LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023






M & K QUARRY PLANT LTD (REGISTERED NUMBER: NI050011)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


M & K QUARRY PLANT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: Nigel Rafferty
Kevin Rafferty
Dessie Rafferty





REGISTERED OFFICE: 55 Cappagh Road
Galbally
Dungannon
Co. Tyrone
BT70 2PE





REGISTERED NUMBER: NI050011 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

M & K QUARRY PLANT LTD (REGISTERED NUMBER: NI050011)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £ £
CURRENT ASSETS
Inventories 5 426,727 1,077,500
Receivables 6 596,222 452,588
Cash at bank and in hand 2,756,973 4,957,366
3,779,922 6,487,454
PAYABLES
Amounts falling due within one year 7 (1,974,894 ) (4,709,697 )
NET CURRENT ASSETS 1,805,028 1,777,757
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,805,028

1,777,757

CAPITAL AND RESERVES
Called up share capital 8 10 10
Retained earnings 1,805,018 1,777,747
SHAREHOLDERS' FUNDS 1,805,028 1,777,757

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

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

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2024 and were signed on its behalf by:





Nigel Rafferty - Director


M & K QUARRY PLANT LTD (REGISTERED NUMBER: NI050011)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

M & K Quarry Plant 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. 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 preparation
The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding
discounts, rebates, value added tax and other sales taxes.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Research and development
Research expenditure is written off in the year in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when the following criteria are met;
- it is technically feasible to complete the project so that it will be available for use or for sale
- there is the intention to complete the intangible asset and use and sell it
- there is the ability to use or sell the intangible asset
- the use or sale of the intangible asset will generate probable future economic benefits
- the expenditure attributable to the intangible asset during its development can be measured reliably

Expenditure that does not meet the above criteria is expensed as incurred.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

M & K QUARRY PLANT LTD (REGISTERED NUMBER: NI050011)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

3. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 47 ) .

5. INVENTORIES
2023 2022
£ £
Inventories 150,320 260,000
Work-in-progress 276,407 817,500
426,727 1,077,500

6. RECEIVABLES
2023 2022
£ £
Trade receivables 495,476 217,063
Other receivables 100,746 235,525
596,222 452,588

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade payables 634,194 820,400
Amounts owed to group undertakings 908,296 3,016,539
Taxation and social security (156,380 ) (13,598 )
Other payables 588,784 886,356
1,974,894 4,709,697

The amounts owed to the group undertakings are interest free and repayable on demand.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
10 Ordinary 1 10 10

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end there was a balance of £NIL (2022 : £NIL) owing to the company from the directors.