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REGISTERED NUMBER: NI054439 (Northern Ireland)















EJM MCKEOWN LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


EJM MCKEOWN LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M McKeown
Mrs H McKeown



SECRETARY: Mr M McKeown



REGISTERED OFFICE: 46 Main Street
GORTIN
Co. Tyrone
BT79 8PH



REGISTERED NUMBER: NI054439 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Limited
14 High Street
OMAGH
Co. Tyrone
BT78 1BJ



SOLICITORS: Brolly Jameson Solicitors
4A Market Street
OMAGH
Co. Tyrone
BT78 1EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
EJM MCKEOWN 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 Balance Sheet. 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 31 December 2023 which comprise the Income Statement, Balance Sheet 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 Balance Sheet as at 31 December 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.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


Date: .............................................

EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 17,500
Tangible assets 5 237,115 247,946
247,115 265,446

CURRENT ASSETS
Stocks 510,539 430,290
Debtors 6 789,499 795,179
Cash at bank 269,088 297,797
1,569,126 1,523,266
CREDITORS
Amounts falling due within one year 7 538,661 580,941
NET CURRENT ASSETS 1,030,465 942,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,277,580

1,207,771

CREDITORS
Amounts falling due after more than one
year

8

(13,607

)

(28,696

)

PROVISIONS FOR LIABILITIES (43,487 ) (45,696 )
NET ASSETS 1,220,486 1,133,379

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,220,386 1,133,279
SHAREHOLDERS' FUNDS 1,220,486 1,133,379

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)

BALANCE SHEET - continued
31 DECEMBER 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 approved by the Board of Directors and authorised for issue on 3 April 2024 and were signed on its behalf by:





Mr M McKeown - Director


EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)

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

1. STATUTORY INFORMATION

EJM McKeown 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. 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.

Turnover
Turnover represents the sales invoiced excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

There has been no impairment of goodwill during the year.

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.

Improvements to leasehold property - 2% straight line
Plant & machinery - 10% straight line

Stock
Stock is valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items.

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.

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.

EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)

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

2. ACCOUNTING POLICIES - continued

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 transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 150,000
AMORTISATION
At 1 January 2023 132,500
Charge for year 7,500
At 31 December 2023 140,000
NET BOOK VALUE
At 31 December 2023 10,000
At 31 December 2022 17,500

5. TANGIBLE FIXED ASSETS
Improvements
to
leasehold Plant &
property machinery Totals
£    £    £   
COST
At 1 January 2023 92,133 430,878 523,011
Additions - 24,660 24,660
At 31 December 2023 92,133 455,538 547,671
DEPRECIATION
At 1 January 2023 20,232 254,833 275,065
Charge for year 1,843 33,648 35,491
At 31 December 2023 22,075 288,481 310,556
NET BOOK VALUE
At 31 December 2023 70,058 167,057 237,115
At 31 December 2022 71,901 176,045 247,946

EJM MCKEOWN LTD (REGISTERED NUMBER: NI054439)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 789,499 795,179

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 5,000 -
Trade creditors 439,515 507,940
Social security and other taxes 84,536 63,118
Sundry creditors 9,610 9,883
538,661 580,941

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors loan 6,207 28,696
Hire purchase contracts 7,400 -
13,607 28,696

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan 6,207 28,696

9. SECURED DEBTS

The overdraft facility is secured by an all monies debenture giving a fixed and floating charge over the assets of EJM McKeown Ltd and personal guarantees by the directors which are collateralised by equitable deposit of deeds over properties owned by the directors and a charge over a Life Policy in the name of Mr McKeown.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at 31 December 2023 the company owes members of key personnel £6,207 (2022: £28,696). No repayment date has been set for this and no interest is to be charged on the loan. At the balance sheet date, the loan was still outstanding and is presented within creditors: amounts falling due after more than one year.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M McKeown.