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REGISTERED NUMBER: NI623527 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

MCAULEY METALS LIMITED

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MCAULEY METALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M Stow
Ms C Ni Cholmain



REGISTERED OFFICE: 17 Clarendon Road Clarendon Dock
Belfast
BT1 3BG



REGISTERED NUMBER: NI623527 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Northern Bank Limited
trading as Danske Bank
Belfast Finance Centre
PO Box 183, Donegall Square West
Belfast
Co Antrim
BT1 6JS

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 58,900
Tangible assets 5 982,895 989,594
982,895 1,048,494

CURRENT ASSETS
Stocks 224,550 317,900
Debtors 6 313,541 236,041
Cash at bank and in hand 830,813 868,200
1,368,904 1,422,141
CREDITORS
Amounts falling due within one year 7 359,947 467,262
NET CURRENT ASSETS 1,008,957 954,879
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,991,852

2,003,373

CREDITORS
Amounts falling due after more than one
year

8

(645,129

)

(684,126

)

PROVISIONS FOR LIABILITIES (148,317 ) (146,987 )
NET ASSETS 1,198,406 1,172,260

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,198,306 1,172,160
SHAREHOLDERS' FUNDS 1,198,406 1,172,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

BALANCE SHEET - continued
31 MARCH 2024


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 authorised for issue by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





M Stow - Director


MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Mcauley Metals Limited 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. ACCOUNTING POLICIES

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

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2.5% on cost
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
- Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

- Basic financial liabilities
Basic financial liabilities, including creditors and bank loans and overdrafts, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year 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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has considerable cash reserves and has produced draft cashflow estimates for the next twelve months to October 2022. The directors have assured themselves of the going concern principle of the company as it trades in the recycling sector. The directors are confident of the continued success of the business in providing recycling services to the community.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 589,000
AMORTISATION
At 1 April 2023 530,100
Charge for year 58,900
At 31 March 2024 589,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 58,900

Goodwill represents the excess over book value of the net assets acquired from the former McAuley Metals sole trade on 20 March 2014.

5. TANGIBLE FIXED ASSETS
Fixtures,
Freehold Plant and fittings Motor
property machinery & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 484,141 1,214,551 40,007 76,250 1,814,949
Additions - 158,696 65 12,000 170,761
At 31 March 2024 484,141 1,373,247 40,072 88,250 1,985,710
DEPRECIATION
At 1 April 2023 82,496 703,026 16,777 23,056 825,355
Charge for year 12,017 143,319 5,821 16,303 177,460
At 31 March 2024 94,513 846,345 22,598 39,359 1,002,815
NET BOOK VALUE
At 31 March 2024 389,628 526,902 17,474 48,891 982,895
At 31 March 2023 401,645 511,525 23,230 53,194 989,594


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 165,915 212,345
Other debtors 147,626 23,696
313,541 236,041

MCAULEY METALS LIMITED (REGISTERED NUMBER: NI623527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 38,997 73,993
Trade creditors 91,043 260,228
Taxation and social security 96,344 42,324
Other creditors 133,563 90,717
359,947 467,262

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 16,678 55,675
Other creditors 628,451 628,451
645,129 684,126

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 55,675 129,668

Hire Purchase Agreements are secured on the asset to which they relate.