BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 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 that of timber haulage and timber sales. 4 June 2024 1 1 NI044009 2024-01-31 NI044009 2023-01-31 NI044009 2022-01-31 NI044009 2023-02-01 2024-01-31 NI044009 2022-02-01 2023-01-31 NI044009 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI044009 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI044009 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI044009 uk-bus:FullAccounts 2023-02-01 2024-01-31 NI044009 uk-core:ShareCapital 2024-01-31 NI044009 uk-core:ShareCapital 2023-01-31 NI044009 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI044009 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI044009 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI044009 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI044009 uk-bus:FRS102 2023-02-01 2024-01-31 NI044009 uk-core:PlantMachinery 2023-02-01 2024-01-31 NI044009 uk-core:CurrentFinancialInstruments 2024-01-31 NI044009 uk-core:CurrentFinancialInstruments 2023-01-31 NI044009 uk-core:WithinOneYear 2024-01-31 NI044009 uk-core:WithinOneYear 2023-01-31 NI044009 uk-core:WithinOneYear 2024-01-31 NI044009 uk-core:WithinOneYear 2023-01-31 NI044009 uk-core:AfterOneYear 2024-01-31 NI044009 uk-core:AfterOneYear 2023-01-31 NI044009 uk-core:AfterOneYear 2024-01-31 NI044009 uk-core:AfterOneYear 2023-01-31 NI044009 uk-core:BetweenTwoFiveYears 2024-01-31 NI044009 uk-core:BetweenTwoFiveYears 2023-01-31 NI044009 uk-core:OtherMiscellaneousReserve 2023-01-31 NI044009 uk-core:OtherMiscellaneousReserve 2023-02-01 2024-01-31 NI044009 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 NI044009 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-01-31 NI044009 uk-core:OtherDeferredTax 2024-01-31 NI044009 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-01-31 NI044009 uk-core:OtherMiscellaneousReserve 2024-01-31 NI044009 uk-core:ParentEntities 2023-02-01 2024-01-31 NI044009 uk-countries:NorthernIreland 2023-02-01 2024-01-31 NI044009 uk-bus:Director1 2023-02-01 2024-01-31 NI044009 uk-bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 NI044009 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI044009
 
 
McDonald Transport Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 January 2024
McDonald Transport Limited
Company Registration Number: NI044009
BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 83,143 103,929
───────── ─────────
 
Current Assets
Debtors 5 24,405 42,909
Cash and cash equivalents 186,327 122,448
───────── ─────────
210,732 165,357
───────── ─────────
Creditors: amounts falling due within one year 6 (42,471) (36,124)
───────── ─────────
Net Current Assets 168,261 129,233
───────── ─────────
Total Assets less Current Liabilities 251,404 233,162
 
Creditors:
amounts falling due after more than one year 7 (147,997) (143,981)
 
Provisions for liabilities 8 (15,798) (19,747)
───────── ─────────
Net Assets 87,609 69,434
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 87,607 69,432
───────── ─────────
Equity attributable to owners of the company 87,609 69,434
═════════ ═════════
 
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).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 January 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 4 June 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Dympna McDonald     Michael McDonald
Director     Director
           



McDonald Transport Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
McDonald Transport Limited is a company limited by shares incorporated in Northern Ireland. 17 St Mary's Road, Killyclogher, Omagh, Co Tyrone, BT79 7JX, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
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 January 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:
 
  Plant and machinery - 15% Reducing Balance
 
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.
 
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.
 
Borrowing costs
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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.
 
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.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
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 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Employees 1 1
  ═════════ ═════════
       
4. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 February 2023 183,306 183,306
  ───────── ─────────
 
At 31 January 2024 183,306 183,306
  ───────── ─────────
Depreciation
At 1 February 2023 79,377 79,377
Charge for the financial year 20,786 20,786
  ───────── ─────────
At 31 January 2024 100,163 100,163
  ───────── ─────────
Net book value
At 31 January 2024 83,143 83,143
  ═════════ ═════════
At 31 January 2023 103,929 103,929
  ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 15,429 38,130
Amounts owed by participating interests 54 -
Other debtors 4,322 714
Prepayments and accrued income 4,600 4,065
  ───────── ─────────
  24,405 42,909
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bounce back loan 8,051 7,855
Trade creditors 6,440 6,535
Taxation 16,224 10,797
Accruals 11,756 10,937
  ───────── ─────────
  42,471 36,124
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bounce back loan 11,687 19,752
Directors' loan accounts 136,310 124,229
  ───────── ─────────
  147,997 143,981
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 6) 8,051 7,855
Repayable between two and five years 11,687 19,752
  ───────── ─────────
  19,738 27,607
  ═════════ ═════════
 
         
8. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 19,747 19,747 24,644
Charged to profit and loss (3,949) (3,949) (4,897)
  ───────── ───────── ─────────
At financial year end 15,798 15,798 19,747
  ═════════ ═════════ ═════════
           
9. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
During the year the directors of McDonald Transport Ltd had an opening balance of £124,229. During the year McDonald Transport Ltd borrowed a further £12,081 from the directors and repaid £0 to the directors, leaving a closing balance of £136,310 (2023: £124,229). This is included in the creditors section of the balance sheet.
   
10. Parent company
 
The company regards McDonald Ventures Ltd as its parent company.