2023-04-012024-03-312024-03-31falseNI032945MCEVOYS 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MCEVOYS LIMITED

Registered Number
NI032945
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

MCEVOYS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

MCEVOY, Martin
REEL, Rose

Company Secretary

MCEVOY, Martin

Registered Address

13 Monaghan Street
Newry
Co Down
BT35 6BB

Registered Number

NI032945 (Northern Ireland)
MCEVOYS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets339,48049,349
39,48049,349
Current assets
Stocks4251,032166,623
Debtors39,32040,411
Cash at bank and on hand72,609164,278
362,961371,312
Creditors amounts falling due within one year5(128,522)(205,719)
Net current assets (liabilities)234,439165,593
Total assets less current liabilities273,919214,942
Creditors amounts falling due after one year6-(15,035)
Provisions for liabilities7(14,650)(14,650)
Net assets259,269185,257
Capital and reserves
Called up share capital22
Profit and loss account259,267185,255
Shareholders' funds259,269185,257
The financial statements were approved and authorised for issue by the Board of Directors on 20 September 2024, and are signed on its behalf by:
MCEVOY, Martin
Director
Registered Company No. NI032945
MCEVOYS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year2526
3.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 April 23147,50516,630123,375287,510
At 31 March 24147,50516,630123,375287,510
Depreciation and impairment
At 01 April 23106,53112,958118,672238,161
Charge for year8,1947349419,869
At 31 March 24114,72513,692119,613248,030
Net book value
At 31 March 2432,7802,9383,76239,480
At 31 March 2340,9743,6724,70349,349
No New Assets where purchased during the year.
4.Stocks

2024

2023

££
Finished goods251,032166,623
Total251,032166,623
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables79,391190,394
Bank borrowings and overdrafts30,31813,318
Taxation and social security18,8132,007
Total128,522205,719
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Trade creditors / trade payables-15,035
Total-15,035
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)14,65014,650
Total14,65014,650