2023-02-012024-01-312024-01-31falseNI642950MAGEE JOINERY LTD2024-10-21iso4217:GBPxbrli:pureNI6429502023-02-01NI6429502024-01-31NI6429502023-02-012024-01-31NI6429502022-02-01NI6429502023-01-31NI6429502022-02-012023-01-31NI642950bus:SmallEntities2023-02-012024-01-31NI642950bus:AuditExempt-NoAccountantsReport2023-02-012024-01-31NI642950bus:FullAccounts2023-02-012024-01-31NI642950bus:PrivateLimitedCompanyLtd2023-02-012024-01-31NI642950core:WithinOneYear2024-01-31NI642950core:AfterOneYear2024-01-31NI642950core:WithinOneYear2023-01-31NI642950core:AfterOneYear2023-01-31NI642950core:ShareCapital2024-01-31NI642950core:SharePremium2024-01-31NI642950core:RevaluationReserve2024-01-31NI642950core:OtherReservesSubtotal2024-01-31NI642950core:RetainedEarningsAccumulatedLosses2024-01-31NI642950core:ShareCapital2023-01-31NI642950core:SharePremium2023-01-31NI642950core:RevaluationReserve2023-01-31NI642950core:OtherReservesSubtotal2023-01-31NI642950core:RetainedEarningsAccumulatedLosses2023-01-31NI642950core:LandBuildings2024-01-31NI642950core:PlantMachinery2024-01-31NI642950core:Vehicles2024-01-31NI642950core:FurnitureFittings2024-01-31NI642950core:OfficeEquipment2024-01-31NI642950core:NetGoodwill2024-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2024-01-31NI642950core:ListedExchangeTraded2024-01-31NI642950core:UnlistedNon-exchangeTraded2024-01-31NI642950core:LandBuildings2023-01-31NI642950core:PlantMachinery2023-01-31NI642950core:Vehicles2023-01-31NI642950core:FurnitureFittings2023-01-31NI642950core:OfficeEquipment2023-01-31NI642950core:NetGoodwill2023-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2023-01-31NI642950core:ListedExchangeTraded2023-01-31NI642950core:UnlistedNon-exchangeTraded2023-01-31NI642950core:LandBuildings2023-02-012024-01-31NI642950core:PlantMachinery2023-02-012024-01-31NI642950core:Vehicles2023-02-012024-01-31NI642950core:FurnitureFittings2023-02-012024-01-31NI642950core:OfficeEquipment2023-02-012024-01-31NI642950core:NetGoodwill2023-02-012024-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31NI642950core:ListedExchangeTraded2023-02-012024-01-31NI642950core:UnlistedNon-exchangeTraded2023-02-012024-01-31NI642950core:MoreThanFiveYears2023-02-012024-01-31NI642950core:Non-currentFinancialInstruments2024-01-31NI642950core:Non-currentFinancialInstruments2023-01-31NI642950dpl:CostSales2023-02-012024-01-31NI642950dpl:DistributionCosts2023-02-012024-01-31NI642950core:LandBuildings2023-02-012024-01-31NI642950core:PlantMachinery2023-02-012024-01-31NI642950core:Vehicles2023-02-012024-01-31NI642950core:FurnitureFittings2023-02-012024-01-31NI642950core:OfficeEquipment2023-02-012024-01-31NI642950dpl:AdministrativeExpenses2023-02-012024-01-31NI642950core:NetGoodwill2023-02-012024-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-31NI642950dpl:GroupUndertakings2023-02-012024-01-31NI642950dpl:ParticipatingInterests2023-02-012024-01-31NI642950dpl:GroupUndertakingscore:ListedExchangeTraded2023-02-012024-01-31NI642950core:ListedExchangeTraded2023-02-012024-01-31NI642950dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-02-012024-01-31NI642950core:UnlistedNon-exchangeTraded2023-02-012024-01-31NI642950dpl:CostSales2022-02-012023-01-31NI642950dpl:DistributionCosts2022-02-012023-01-31NI642950core:LandBuildings2022-02-012023-01-31NI642950core:PlantMachinery2022-02-012023-01-31NI642950core:Vehicles2022-02-012023-01-31NI642950core:FurnitureFittings2022-02-012023-01-31NI642950core:OfficeEquipment2022-02-012023-01-31NI642950dpl:AdministrativeExpenses2022-02-012023-01-31NI642950core:NetGoodwill2022-02-012023-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-31NI642950dpl:GroupUndertakings2022-02-012023-01-31NI642950dpl:ParticipatingInterests2022-02-012023-01-31NI642950dpl:GroupUndertakingscore:ListedExchangeTraded2022-02-012023-01-31NI642950core:ListedExchangeTraded2022-02-012023-01-31NI642950dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-02-012023-01-31NI642950core:UnlistedNon-exchangeTraded2022-02-012023-01-31NI642950core:NetGoodwill2024-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2024-01-31NI642950core:LandBuildings2024-01-31NI642950core:PlantMachinery2024-01-31NI642950core:Vehicles2024-01-31NI642950core:FurnitureFittings2024-01-31NI642950core:OfficeEquipment2024-01-31NI642950core:AfterOneYear2024-01-31NI642950core:WithinOneYear2024-01-31NI642950core:ListedExchangeTraded2024-01-31NI642950core:UnlistedNon-exchangeTraded2024-01-31NI642950core:ShareCapital2024-01-31NI642950core:SharePremium2024-01-31NI642950core:RevaluationReserve2024-01-31NI642950core:OtherReservesSubtotal2024-01-31NI642950core:RetainedEarningsAccumulatedLosses2024-01-31NI642950core:NetGoodwill2023-01-31NI642950core:IntangibleAssetsOtherThanGoodwill2023-01-31NI642950core:LandBuildings2023-01-31NI642950core:PlantMachinery2023-01-31NI642950core:Vehicles2023-01-31NI642950core:FurnitureFittings2023-01-31NI642950core:OfficeEquipment2023-01-31NI642950core:AfterOneYear2023-01-31NI642950core:WithinOneYear2023-01-31NI642950core:ListedExchange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MAGEE JOINERY LTD

Registered Number
NI642950
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 January 2024

MAGEE JOINERY LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

MAGEE, Conor William
MAGEE, Gerard David
MAGEE, Peter Raymond

Registered Address

6 Upper Knockbarragh Road
Rostrevor
Newry
BT34 3DJ

Registered Number

NI642950 (Northern Ireland)
MAGEE JOINERY LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4728,628201,125
728,628201,125
Current assets
Stocks595,00473,281
Debtors385,487148,429
Cash at bank and on hand188,91345,093
669,404266,803
Creditors amounts falling due within one year6(436,497)(274,261)
Net current assets (liabilities)232,907(7,458)
Total assets less current liabilities961,535193,667
Creditors amounts falling due after one year7(233,808)(4,170)
Net assets727,727189,497
Capital and reserves
Called up share capital100100
Profit and loss account727,627189,397
Shareholders' funds727,727189,497
The financial statements were approved and authorised for issue by the Board of Directors on 21 October 2024, and are signed on its behalf by:
MAGEE, Conor William
Director
MAGEE, Gerard David
Director
MAGEE, Peter Raymond
Director

Registered Company No. NI642950
MAGEE JOINERY LTD
Notes to the Financial Statements
for the year ended 31 January 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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Intangible assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
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 year99
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 February 2321,81021,810
At 31 January 2421,81021,810
Amortisation and impairment
At 01 February 2321,81021,810
At 31 January 2421,81021,810
Net book value
At 31 January 24--
At 31 January 23--
4.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 February 23216,344150,5621,082367,988
Additions571,50010,195-581,695
Disposals(8,160)--(8,160)
At 31 January 24779,684160,7571,082941,523
Depreciation and impairment
At 01 February 2383,51782,957389166,863
Charge for year35,28414,54113949,964
On disposals(3,932)--(3,932)
At 31 January 24114,86997,498528212,895
Net book value
At 31 January 24664,81563,259554728,628
At 31 January 23132,82767,605693201,125
5.Stocks

2024

2023

££
Work in progress95,00473,281
Total95,00473,281
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables140,36328,589
Bank borrowings and overdrafts24,23333,862
Taxation and social security14,04081,634
Finance lease and HP contracts216,36213,116
Other creditors36,399111,959
Accrued liabilities and deferred income5,1005,101
Total436,497274,261
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.
7.Creditors: amounts due after one year

2024

2023

££
Other creditors233,8084,170
Total233,8084,170
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts233,8084,170