H. MCLARNON & SON LTD

Company Registration Number:
NI051067 (Northern Ireland)

Unaudited abridged accounts for the year ended 30 June 2023

Period of accounts

Start date: 01 July 2022

End date: 30 June 2023

H. MCLARNON & SON LTD

Contents of the Financial Statements

for the Period Ended 30 June 2023

Balance sheet
Notes

H. MCLARNON & SON LTD

Balance sheet

As at 30 June 2023


Notes

2023

2022


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets: 3 539,317 591,240
Tangible assets: 4 120,057 52,745
Investments: 5 6,665 94,076
Total fixed assets: 666,039 738,061
Current assets
Stocks: 132,419 269,342
Debtors: 6 1,327,319 1,672,923
Cash at bank and in hand: 190,463 140,627
Total current assets: 1,650,201 2,082,892
Creditors: amounts falling due within one year: 7 (643,512) (1,161,971)
Net current assets (liabilities): 1,006,689 920,921
Total assets less current liabilities: 1,672,728 1,658,982
Creditors: amounts falling due after more than one year:   0 0
Provision for liabilities: (43,744) (43,744)
Total net assets (liabilities): 1,628,984 1,615,238
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 1,628,884 1,615,138
Shareholders funds: 1,628,984 1,615,238

The notes form part of these financial statements

H. MCLARNON & SON LTD

Balance sheet statements

For the year ending 30 June 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 29 March 2024
and signed on behalf of the board by:

Name: Keely & Ciaran McLarnon
Status: Director

The notes form part of these financial statements

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods suppliedand services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership havetransferred to the buyer (usually on despatch of the goods); the amount of revenue can be measuredreliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurredor to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:Plant and machinery - 20% straight lineFittings fixtures and equipment - 20% straight lineMotor vehicles - 25% reducing balanceIf there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible fixed assets and amortisation policy

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, overthe useful life of that asset as follows:If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Valuation and information policy

The financial statements have been prepared on the historical cost basis, as modified by the revaluationof certain financial assets and liabilities and investment properties measured at fair value through profitor loss.The financial statements are prepared in sterling, which is the functional currency of the entity

Other accounting policies

Construction contractsWhere the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end.Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred.The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

2. Employees

2023 2022
Average number of employees during the period 5 4

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

3. Intangible Assets

Total
Cost £
At 01 July 2022 1,181,766
Additions 33,407
Disposals 0
Revaluations 0
Transfers 0
At 30 June 2023 1,215,173
Amortisation
At 01 July 2022 590,526
Charge for year 85,330
On disposals 0
Other adjustments 0
At 30 June 2023 675,856
Net book value
At 30 June 2023 539,317
At 30 June 2022 591,240

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

4. Tangible Assets

Total
Cost £
At 01 July 2022 940,245
Additions 159,026
Disposals (172,526)
At 30 June 2023 926,745
Depreciation
At 01 July 2022 887,500
Charge for year 76,264
On disposals (157,076)
At 30 June 2023 806,688
Net book value
At 30 June 2023 120,057
At 30 June 2022 52,745

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

5. Fixed investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

6. Debtors

2023 2022
££
Debtors due after more than one year: 1,327,319 1,672,923

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

7. Creditors: amounts falling due within one year note

2023 2022Bank loans and overdrafts £31,552 £41,275Trade creditors £522,764 £818,162Corporation tax - (6,891)Social security and other taxes £16,206 £276,425Other creditors £72,990 £33,000 £643,512 £1,161,971

H. MCLARNON & SON LTD

Notes to the Financial Statements

for the Period Ended 30 June 2023

8. Loans to directors

Name of director receiving advance or credit: Mr Christopher McLarnon
Description of the loan: During the year the director entered into the following advances and credits with the company.
£
Balance at 01 July 2022 103,522
Advances or credits repaid: 60,500
Balance at 30 June 2023 43,022