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REGISTERED NUMBER: NI652131 (Northern Ireland)















NMG MECHANICAL LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 DECEMBER 2023






NMG MECHANICAL LTD (REGISTERED NUMBER: NI652131)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NMG MECHANICAL LTD

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 DECEMBER 2023







DIRECTOR: Niall Mcgaughey





REGISTERED OFFICE: 2 Barrack Hill Meadows
Loughmacrory
Omagh
Tyrone
BT79 9ND





REGISTERED NUMBER: NI652131 (Northern Ireland)





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

NMG MECHANICAL LTD (REGISTERED NUMBER: NI652131)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2023
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 142,365 102,216

CURRENT ASSETS
Receivables: amounts falling due within
one year

6

164,566

357,041
Cash at bank 1,172,438 353,103
1,337,004 710,144
PAYABLES
Amounts falling due within one year 7 (589,352 ) (185,463 )
NET CURRENT ASSETS 747,652 524,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,017

626,897

PAYABLES
Amounts falling due after more than
one year

8

(27,259

)

(18,038

)
NET ASSETS 862,758 608,859

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 862,658 608,759
862,758 608,859

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

The members have not required the Company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 3 May 2024 and were signed by:



Niall Mcgaughey - Director


NMG MECHANICAL LTD (REGISTERED NUMBER: NI652131)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

NMG Mechanical 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the period 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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

NMG MECHANICAL LTD (REGISTERED NUMBER: NI652131)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2023 - 4 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 1 May 2023 110,921 1,041 111,962
Additions 52,285 - 52,285
At 31 December 2023 163,206 1,041 164,247
DEPRECIATION
At 1 May 2023 9,587 159 9,746
Charge for period 11,989 147 12,136
At 31 December 2023 21,576 306 21,882
NET BOOK VALUE
At 31 December 2023 141,630 735 142,365
At 30 April 2023 101,334 882 102,216

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£ £
Trade debtors 139,233 340,509
Other debtors 25,333 16,532
164,566 357,041

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£ £
Hire purchase contracts 14,116 6,523
Taxation and social security 221,064 133,680
Other payables 354,172 45,260
589,352 185,463

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2023
£ £
Hire purchase contracts 27,259 18,038