BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is a Cafe and Take Away. 21 August 2024 55 55 NI612991 2024-05-31 NI612991 2023-05-31 NI612991 2022-05-31 NI612991 2023-06-01 2024-05-31 NI612991 2022-06-01 2023-05-31 NI612991 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI612991 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI612991 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI612991 uk-bus:AbridgedAccounts 2023-06-01 2024-05-31 NI612991 uk-core:ShareCapital 2024-05-31 NI612991 uk-core:ShareCapital 2023-05-31 NI612991 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI612991 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI612991 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI612991 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI612991 uk-bus:FRS102 2023-06-01 2024-05-31 NI612991 uk-core:LandBuildings 2023-06-01 2024-05-31 NI612991 uk-core:PlantMachinery 2023-06-01 2024-05-31 NI612991 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI612991 uk-core:MotorVehicles 2023-06-01 2024-05-31 NI612991 2023-06-01 2024-05-31 NI612991 uk-bus:Director1 2023-06-01 2024-05-31 NI612991 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI612991
 
 
MC Foods Camlough Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 May 2024
MC Foods Camlough Ltd
Company Registration Number: NI612991
ABRIDGED BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 307,240 368,880
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Current Assets
Stocks 40,550 41,575
Debtors 18,964 17,632
Cash and cash equivalents 742,349 668,630
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801,863 727,837
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Creditors: amounts falling due within one year (347,498) (388,517)
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Net Current Assets 454,365 339,320
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Total Assets less Current Liabilities 761,605 708,200
 
Provisions for liabilities (33,281) (29,640)
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Net Assets 728,324 678,560
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Capital and Reserves
Called up share capital 2 2
Retained earnings 728,322 678,558
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Shareholders' Funds 728,324 678,560
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 21 August 2024 and signed on its behalf by
           
           
________________________________          
Miceal Hughes          
Director          
           



MC Foods Camlough Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
MC Foods Camlough Ltd is a company limited by shares incorporated in Northern Ireland.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 2% Straight line
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 10% Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks 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.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 55, (2023 - 55).
 
  2024 2023
  Number Number
 
Employees 55 55
  ═════════ ═════════
             
4. Tangible assets
  Land and Plant and Fixtures, Motor Total
  buildings machinery fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost or Valuation
At 1 June 2023 197,973 384,881 36,011 54,693 673,558
Additions - 3,794 1,833 - 5,627
  ───────── ───────── ───────── ───────── ─────────
At 31 May 2024 197,973 388,675 37,844 54,693 679,185
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 22,063 241,937 14,061 26,617 304,678
Charge for the financial year 3,959 48,585 3,784 10,939 67,267
  ───────── ───────── ───────── ───────── ─────────
At 31 May 2024 26,022 290,522 17,845 37,556 371,945
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 171,951 98,153 19,999 17,137 307,240
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 May 2023 175,910 142,944 21,950 28,076 368,880
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.