BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 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 electrical contracting. 8 July 2024 28 28 NI071918 2024-02-29 NI071918 2023-02-28 NI071918 2022-02-28 NI071918 2023-03-01 2024-02-29 NI071918 2022-03-01 2023-02-28 NI071918 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI071918 uk-curr:PoundSterling 2023-03-01 2024-02-29 NI071918 uk-bus:AbridgedAccounts 2023-03-01 2024-02-29 NI071918 uk-core:ShareCapital 2024-02-29 NI071918 uk-core:ShareCapital 2023-02-28 NI071918 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI071918 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI071918 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 NI071918 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI071918 uk-bus:FRS102 2023-03-01 2024-02-29 NI071918 uk-core:LandBuildings 2023-03-01 2024-02-29 NI071918 uk-core:Land 2023-03-01 2024-02-29 NI071918 uk-core:PlantMachinery 2023-03-01 2024-02-29 NI071918 uk-core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-29 NI071918 uk-core:MotorVehicles 2023-03-01 2024-02-29 NI071918 uk-core:CostValuation 2024-02-29 NI071918 uk-core:Subsidiary1 2023-03-01 2024-02-29 NI071918 uk-core:ParentEntities 2023-03-01 2024-02-29 NI071918 2023-03-01 2024-02-29 NI071918 uk-bus:Director1 2023-03-01 2024-02-29 NI071918 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
McEvoy Electrical Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 29 February 2024



McEvoy Electrical Limited
Company Registration Number: NI071918
ABRIDGED BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 578,989 612,536
Investments 5 100 100
───────── ─────────
Fixed Assets 579,089 612,636
───────── ─────────
 
Current Assets
Stocks 247,229 410,449
Debtors 247,362 237,036
Cash and cash equivalents 233,098 219,840
───────── ─────────
727,689 867,325
───────── ─────────
Creditors: amounts falling due within one year (472,989) (625,797)
───────── ─────────
Net Current Assets 254,700 241,528
───────── ─────────
Total Assets less Current Liabilities 833,789 854,164
 
Creditors:
amounts falling due after more than one year (91,844) (132,755)
 
Provisions for liabilities (13,616) (18,184)
───────── ─────────
Net Assets 728,329 703,225
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 728,229 703,125
───────── ─────────
Equity attributable to owners of the company 728,329 703,225
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges his 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 Director and authorised for issue on 8 July 2024
           
           
________________________________          
Mr. Paul McEvoy          
Director          
           



McEvoy Electrical Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
McEvoy Electrical Limited is a private company, limited by shares incorporated in Northern Ireland. The registered office address is 49 Leitrim Road, Hilltown, Newry, Co. Down, BT34 5XS which is also the principal place of business of the company.  The company registration number is NI071918.

The financial statements cover the individual entity McEvoy Electrical Limited for the financial year ended 29th February 2024.

The financial statements are presented in Pound Sterling (£) 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 29 February 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 and services 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:
 
  Land and buildings freehold - not depreciated
  Long leasehold property - 4% straight line
  Plant and machinery - 12.5% straight line
  Fixtures, fittings and equipment - 12.5% straight line
  Motor vehicles - 25% 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.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value on a first in first out basis.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
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.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
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 director, during the financial year was as follows:
 
  2024 2023
  Number Number
 
Employees 28 28
  ═════════ ═════════

               
4. Tangible assets
  Land and Long Plant and Fixtures, Motor Total
  buildings leasehold machinery fittings and vehicles  
  freehold property   equipment    
  £ £ £ £ £ £
Cost
At 1 March 2023 480,718 59,908 160,306 49,702 94,173 844,807
Additions - - - 2,311 - 2,311
  ───────── ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 480,718 59,908 160,306 52,013 94,173 847,118
  ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 March 2023 21,507 2,324 128,284 33,728 46,428 232,271
Charge for the financial year 7,169 2,324 8,506 5,923 11,936 35,858
  ───────── ───────── ───────── ───────── ───────── ─────────
At 29 February 2024 28,676 4,648 136,790 39,651 58,364 268,129
  ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 29 February 2024 452,042 55,260 23,516 12,362 35,809 578,989
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 28 February 2023 459,211 57,584 32,022 15,974 47,745 612,536
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════

     
5. Investments
  Group and
  participating
  interests/
  joint ventures
Investments £
Cost
 
At 29 February 2024 100
  ─────────
Net book value
At 29 February 2024 100
  ═════════
At 28 February 2023 100
  ═════════
             
5.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
The Oaks Bar Limited The country of incorporation of The Oaks Bar Ltd is Northern Ireland. The registered office of The Oaks Bar Ltd is 49 Leitrim Road, Hilltown, Newry, Co. Down, BT34 5XS. Restaurant & Pub   Ordinary Shares 100%
 
 
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
 
  Year ended Capital and     Profit for
    reserves     the year
    £     £
 
The Oaks Bar Limited 29 February 2024 77,379     (838)
    ═════════     ═════════
 
In the opinion of the director, the value to the company of the unlisted investments is not less than the book amount shown above.
       
6. Details of creditors
 
Security given in respect of creditors
There exists a fixed and floating charge over company assets in relation to company borrowings.
At the Balance Sheet date secured borrowings were £112,988. (2023: £154,931)
   
7. Parent company
 
The company regards Ballynanny Ltd, a company incorporated in Nortnern Ireland, as its parent and ultimate parent company.
The registered address of Ballynanny Ltd is 49 Leitrim Road, Hilltown, Newry, County Down, BT34 5XS.
 
       
8. Pension commitments
 
The company operates a defined contribution pension scheme for its employees.  The assets of the scheme are held separately from those of the company in an independently administered fund.  At the balance sheet date, there was an outstanding liability of £121 due to the fund (2023: £290).  This amount is included in creditors amounts falling due within one year.
       
9. Related parties
 
The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group undertakings.