Company Registration No. NI639190 (Northern Ireland)
J&j Mckibbin Ltd
Unaudited accounts
for the year ended 30 June 2024
J&j Mckibbin Ltd
Unaudited accounts
Contents
J&j Mckibbin Ltd
Company Information
for the year ended 30 June 2024
Directors
John McKibbin
Thomas James McKibbin
Company Number
NI639190 (Northern Ireland)
Registered Office
181 Moyadd Road Kilkeel
Newry
BT34 4HL
United Kingdom
Accountants
JMW
74 Ballantine Gardens
Lisburn
Co. Down
BT27 5FB
J&j Mckibbin Ltd
Statement of financial position
as at 30 June 2024
Tangible assets
5,563
5,962
Inventories
488,850
361,383
Cash at bank and in hand
2,210
29,960
Creditors: amounts falling due within one year
(450,428)
(416,618)
Net current assets
41,529
94,725
Called up share capital
2
2
Profit and loss account
47,090
100,685
Shareholders' funds
47,092
100,687
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by
Thomas James McKibbin
Director
Company Registration No. NI639190
J&j Mckibbin Ltd
Notes to the Accounts
for the year ended 30 June 2024
J&j Mckibbin Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI639190. The registered office is 181 Moyadd Road Kilkeel, Newry, BT34 4HL, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 June 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 July 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
J&j Mckibbin Ltd
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 July 2023
3,968
5,878
9,846
At 30 June 2024
3,968
5,878
9,846
At 1 July 2023
-
3,884
3,884
Charge for the year
-
399
399
At 30 June 2024
-
4,283
4,283
At 30 June 2024
3,968
1,595
5,563
At 30 June 2023
3,968
1,994
5,962
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
34,417
39,746
Loans from directors
415,489
295,736
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).