B. MCNAMEE & CO. LTD

Company Registration Number:
NI033232 (Northern Ireland)

Unaudited statutory accounts for the year ended 28 February 2024

Period of accounts

Start date: 1 March 2023

End date: 28 February 2024

B. MCNAMEE & CO. LTD

Contents of the Financial Statements

for the Period Ended 28 February 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

B. MCNAMEE & CO. LTD

Directors' report period ended 28 February 2024

The directors present their report with the financial statements of the company for the period ended 28 February 2024

Principal activities of the company

The company's core business was the retailing of building materials in Northern Ireland. On 3 July 2023,the company was acquired by Grafton Group (UK) plc (' Grafton Group'). As part of the acquisition, thetrade and net assets of the company, totalling £3,127,303 were transferred to Macnaughton BlairLimited, a wholly owned subsidiary of Grafton Group. The existing company directors resigned and werereplaced by directors of Macnaughton Blair Limited.



Directors

The directors shown below have held office during the period of
1 March 2023 to 3 July 2023

Owen Gerard Falconer
Edmund McNamee


The directors shown below have held office during the period of
3 July 2023 to 28 February 2024

Patrick Gerard Carroll
Karol Paul McGuckin


The director shown below has held office during the period of
3 July 2023 to 31 December 2023

Peter George Kearney


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 July 2024

And signed on behalf of the board by:
Name: Karol Paul McGuckin
Status: Director

B. MCNAMEE & CO. LTD

Profit And Loss Account

for the Period Ended 28 February 2024

2024 2023


£

£
Turnover: 2,234,712 6,551,614
Cost of sales: ( 1,669,336 ) ( 4,879,094 )
Gross profit(or loss): 565,376 1,672,520
Administrative expenses: ( 421,655 ) ( 1,137,530 )
Operating profit(or loss): 143,721 534,990
Interest receivable and similar income: 17,916 7,308
Interest payable and similar charges: ( 7,950 ) ( 26,531 )
Profit(or loss) before tax: 153,687 515,767
Tax: ( 50,260 ) ( 101,822 )
Profit(or loss) for the financial year: 103,427 413,945

B. MCNAMEE & CO. LTD

Balance sheet

As at 28 February 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 0 148,232
Total fixed assets: 0 148,232
Current assets
Stocks: 4 0 1,032,965
Debtors: 5 3,127,303 641,722
Cash at bank and in hand: 0 1,970,460
Total current assets: 3,127,303 3,645,147
Creditors: amounts falling due within one year: 6 0 ( 730,469 )
Net current assets (liabilities): 3,127,303 2,914,678
Total assets less current liabilities: 3,127,303 3,062,910
Provision for liabilities: 0 ( 14,000 )
Total net assets (liabilities): 3,127,303 3,048,910
Capital and reserves
Called up share capital: 36,336 36,336
Other reserves: (574,512) (574,512 )
Profit and loss account: 3,665,479 3,587,086
Total Shareholders' funds: 3,127,303 3,048,910

The notes form part of these financial statements

B. MCNAMEE & CO. LTD

Balance sheet statements

For the year ending 28 February 2024 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.

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

This report was approved by the board of directors on 26 July 2024
and signed on behalf of the board by:

Name: Karol Paul McGuckin
Status: Director

The notes form part of these financial statements

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 1. Accounting policies

    Basis of measurement and preparation

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

    Turnover policy

    Revenue is recognised to the extent that is probable that the economic benefits will flow to thecompany and the revenue can be reliably measured. Revenue is measured as the fair value of theconsideration received or receivable, excluding discounts, rebates, value added tax and other salestaxes.

    Tangible fixed assets depreciation policy

    The company adds to the carrying amount of an item of tangible assets the cost of replacing partof such item when that cost is incurred, if the replacement part is expected to provide incrementalfuture benefits to the company. The carrying amount of the replaced part is derecognised. Repairsand maintenance are charge to the Income statement during the period in which they are incurred.Depreciation is charged so as to allocate the cost of assets less their residual value using themethods and rates below. The estimated useful lives range as follows:Freehold property - 2% straight linePlant and machinery - 20% reducing balanceMotor vehicles - 20% reducing balanceFixtures and fittings - 20% reducing balanceThe assets' residual values, useful lives and depreciation methods are reviewed, and adjustedprospectively if appropriate, or if there is an indication of a significant change since the lastreporting date.Gains and losses on disposals are determined by comparing the proceeds with the carrying amountand are recognised within "administrative expenses" if a loss and "other income" if a profit in theIncome statement.

    Other accounting policies

    InventoriesFinancial InstrumentsTaxationDeferred taxForeign CurrenciesHire purchase and leasing commitmentsPension costs and other post retirement benefitsDividendsDebtorsCreditorsCash and cash equivalentsShare capital

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 32 33

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2023 32,142 560,859 48,745 195,991 837,737
Additions
Disposals ( 15,242 ) ( 995 ) ( 32,291 ) ( 48,528 )
Revaluations
Transfers 32,142 545,617 47,750 163,700 789,209
At 28 February 2024 0 0 0 0 0
Depreciation
At 1 March 2023 9,405 497,474 38,119 144,507 689,505
Charge for year 214 4,053 707 2,962 7,936
On disposals ( 9,619 ) ( 501,527 ) ( 38,826 ) ( 147,469 ) ( 697,441 )
Other adjustments
At 28 February 2024 0 0 0 0 0
Net book value
At 28 February 2024 0 0 0 0 0
At 28 February 2023 22,737 63,385 10,626 51,484 148,232

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Stocks

2024 2023
£ £
Stocks 0 1,032,965
Total 0 1,032,965

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

5. Debtors

2024 2023
£ £
Trade debtors 0 628,042
Other debtors 3,127,303 13,680
Total 3,127,303 641,722

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 0 499,946
Taxation and social security 0 205,043
Accruals and deferred income 0 8,120
Other creditors 0 17,360
Total 0 730,469

B. MCNAMEE & CO. LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

7. Financial Commitments

The Company had the following future minimum lease payments under non-cancellable operatingleases for each of the following periods;2024 2023£ £Not later than on year £100,000 -Later than one year an not later than five years £400,000 -Later than five years £600,000 -