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Registration number: NI663164

McCausland Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

McCausland Group Limited

(Registration number: NI663164)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

7,035,171

7,035,171

Current assets

 

Cash at bank and in hand

 

16,354

16,439

Creditors: Amounts falling due within one year

5

(200,000)

(199,941)

Net current liabilities

 

(183,646)

(183,502)

Total assets less current liabilities

 

6,851,525

6,851,669

Creditors: Amounts falling due after more than one year

5

(309,789)

(509,844)

Net assets

 

6,541,736

6,341,825

Capital and reserves

 

Called up share capital

6

59

59

Share premium reserve

5,507,000

5,507,000

Retained earnings

1,034,677

834,766

Shareholders' funds

 

6,541,736

6,341,825

For the financial year ending 30 June 2024 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.

Approved and authorised by the Board on 11 October 2024 and signed on its behalf by:
 

.........................................
Christopher McCausland
Director

 

McCausland Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
33-35 Grosvenor Road
Belfast
BT12 4GR
Northern Ireland

The presentation currency is £ Sterling and the level of rounding is to the nearest £.

These financial statements were authorised for issue by the Board on 11 October 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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.

 

McCausland Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 4).

4

Investments

2024
£

2023
£

Investments in subsidiaries

7,035,171

7,035,171

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

McCauslands Airport Garage Limited

33-35 Grosvenor Road
Belfast
BT12 4GR

Northern Ireland

Ordinary £1 shares

100%

100%

 

McCausland Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

200,000

199,941

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other creditors

309,789

509,844

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

59

59

59

59

       

7

Related party transactions

The company holds a 100% shareholding in McCauslands Airport Garage Limited.

McCauslands Airport Garage Limited showed profit before tax for the year ended 30 June 2024 of £1,448,707 (2023: £823,145) and net assets of £5,872,114 at 30 June 2024 (2023: £4,880,408).

Other creditors includes £509,789 due to an individual who is considered to be a related party of the company.