McBurney Holdings Limited NI038346 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true true NI038346 2023-01-01 2023-12-31 NI038346 2023-12-31 NI038346 bus:OrdinaryShareClass2 2023-12-31 NI038346 bus:OrdinaryShareClass3 2023-12-31 NI038346 core:CurrentFinancialInstruments 2023-12-31 NI038346 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI038346 core:CostValuation 2023-12-31 NI038346 core:DisposalsDecreaseInInvestments 2023-12-31 NI038346 core:OtherPropertyPlantEquipment 2023-12-31 NI038346 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-12-31 NI038346 core:OtherRelatedParties 2023-12-31 NI038346 bus:SmallEntities 2023-01-01 2023-12-31 NI038346 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI038346 bus:FilletedAccounts 2023-01-01 2023-12-31 NI038346 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI038346 bus:RegisteredOffice 2023-01-01 2023-12-31 NI038346 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 NI038346 bus:Director2 2023-01-01 2023-12-31 NI038346 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 NI038346 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 NI038346 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI038346 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI038346 core:PlantMachinery 2023-01-01 2023-12-31 NI038346 core:KeyManagementPersonnel 2023-01-01 2023-12-31 NI038346 core:OtherRelatedParties 2023-01-01 2023-12-31 NI038346 1 2023-01-01 2023-12-31 NI038346 countries:NorthernIreland 2023-01-01 2023-12-31 NI038346 2022-12-31 NI038346 core:CostValuation 2022-12-31 NI038346 core:OtherPropertyPlantEquipment 2022-12-31 NI038346 2022-01-01 2022-12-31 NI038346 2022-12-31 NI038346 bus:OrdinaryShareClass2 2022-12-31 NI038346 bus:OrdinaryShareClass3 2022-12-31 NI038346 core:CurrentFinancialInstruments 2022-12-31 NI038346 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI038346 core:OtherPropertyPlantEquipment 2022-12-31 NI038346 core:AllSubsidiaries 2022-12-31 NI038346 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-12-31 NI038346 core:OtherRelatedParties 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI038346

McBurney Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

McBurney Holdings Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

McBurney Holdings Limited

(Registration number: NI038346)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

141,129

175,775

Investment property

5

6,340,930

594,008

Investments

6

-

1,208,044

 

6,482,059

1,977,827

Current assets

 

Debtors

7

5,203,298

10,748,162

Cash at bank and in hand

 

130,381,531

2,359

 

135,584,829

10,750,521

Creditors: Amounts falling due within one year

8

(596,686)

-

Net current assets

 

134,988,143

10,750,521

Total assets less current liabilities

 

141,470,202

12,728,348

Provisions for liabilities

(5,735)

-

Net assets

 

141,464,467

12,728,348

Capital and reserves

 

Called up share capital

9

2,208,046

2,208,046

Capital redemption reserve

2,309,577

2,309,577

Retained earnings

136,946,844

8,210,725

Shareholders' funds

 

141,464,467

12,728,348

 

McBurney Holdings Limited

(Registration number: NI038346)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 September 2024 and signed on its behalf by:
 

.........................................
Mr Norman McBurney
Company secretary and director

.........................................
Mrs Lynn McBurney
Director

 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
205 Moorfields Road
Ballymena
Co. Antrim
BT42 3EG

These financial statements were authorised for issue by the Board on 5 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements and believe that the company will continue as a going concern and be able to realise its assets and discharge its liabilties in the normal course of business.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Other tangible assets

10% - 33.3% straight line

Investment property

Investment property is carried at fair value, changes in fair value are recognised in profit or loss.

 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Debtors are recognised initially at the transaction price. They are subsequently measured at cost less provision for impairment. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

175,775

175,775

At 31 December 2023

175,775

175,775

Depreciation

Charge for the year

34,646

34,646

At 31 December 2023

34,646

34,646

Carrying amount

At 31 December 2023

141,129

141,129

At 31 December 2022

175,775

175,775

5

Investment properties

2023
£

At 1 January

594,004

Additions

5,746,926

At 31 December

6,340,930

The Investment Properties class of fixed assets were valued on 31 December 2023 by the directors who are internal to the company. The basis of this valuation was fair value. This class of assets has a current value of £6,340,930 (2022 - £594,008).

There has been no valuation of investment property by an independent valuer.

 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Investments

2023
£

2022
£

Investments in subsidiaries

-

1,208,044

Subsidiaries

£

Cost or valuation

At 1 January 2023

1,208,044

Disposals

(1,208,044)

At 31 December 2023

-

Provision

Carrying amount

At 31 December 2023

-

At 31 December 2022

1,208,044

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

24,462

-

Amounts owed by related parties

11

2,680,990

9,892,477

Other debtors

 

1,040,684

855,685

Prepayments

 

1,457,162

-

 

5,203,298

10,748,162

Details of non-current trade and other debtors

£2,680,990 (2022 -£1,956,393) of amounts owed by related companies is classified as non current.

 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

3,044

-

Taxation and social security

590,892

-

Accruals and deferred income

2,750

-

596,686

-

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

A Ordinary shares of £1 each

8,046

8,046

8,046

8,046

B Ordinary shares of £1 each

2,200,000

2,200,000

2,200,000

2,200,000

2,208,046

2,208,046

2,208,046

2,208,046

10

Dividends

2023

2022

£

£

Interim dividend of £Nil (2022 - £1.36) per ordinary share

-

3,000,000

 

 
 

McBurney Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Related party transactions

Key management personnel

Directors - interest is charged on overdrawn balances.

Summary of transactions with other related parties

Entities under common control and significant influence
 Other related party balances are interest free, unsecured and repayable on demand.
 

Income and receivables from related parties

2023

Key management
£

Other related parties
£

Amounts receivable from related party

1,028,650

2,680,990

2022

Subsidiary
£

Key management
£

Other related parties
£

Amounts receivable from related party

7,936,084

820,530

1,956,393

12

Parent and ultimate parent undertaking

The company is controlled by the Directors who own 100% of the A Ordinary share capital.