Martin McAleese Fruit & Veg Limited NI630051 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is wholesale of fruit and vegetables Digita Accounts Production Advanced 6.30.9574.0 true true NI630051 2023-05-01 2024-04-30 NI630051 2024-04-30 NI630051 bus:OrdinaryShareClass1 2024-04-30 NI630051 core:CurrentFinancialInstruments 2024-04-30 NI630051 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI630051 core:Non-currentFinancialInstruments 2024-04-30 NI630051 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 NI630051 core:Goodwill 2024-04-30 NI630051 core:LandBuildings 2024-04-30 NI630051 core:MotorVehicles 2024-04-30 NI630051 core:OtherPropertyPlantEquipment 2024-04-30 NI630051 bus:SmallEntities 2023-05-01 2024-04-30 NI630051 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI630051 bus:FilletedAccounts 2023-05-01 2024-04-30 NI630051 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI630051 bus:RegisteredOffice 2023-05-01 2024-04-30 NI630051 bus:Director1 2023-05-01 2024-04-30 NI630051 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI630051 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI630051 core:Goodwill 2023-05-01 2024-04-30 NI630051 core:LandBuildings 2023-05-01 2024-04-30 NI630051 core:MotorVehicles 2023-05-01 2024-04-30 NI630051 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 NI630051 core:PlantMachinery 2023-05-01 2024-04-30 NI630051 countries:NorthernIreland 2023-05-01 2024-04-30 NI630051 2023-04-30 NI630051 core:Goodwill 2023-04-30 NI630051 core:LandBuildings 2023-04-30 NI630051 core:MotorVehicles 2023-04-30 NI630051 core:OtherPropertyPlantEquipment 2023-04-30 NI630051 2022-05-01 2023-04-30 NI630051 2023-04-30 NI630051 bus:OrdinaryShareClass1 2023-04-30 NI630051 core:CurrentFinancialInstruments 2023-04-30 NI630051 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI630051 core:Non-currentFinancialInstruments 2023-04-30 NI630051 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI630051 core:Goodwill 2023-04-30 NI630051 core:LandBuildings 2023-04-30 NI630051 core:MotorVehicles 2023-04-30 NI630051 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI630051

Martin McAleese Fruit & Veg Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Martin McAleese Fruit & Veg Limited

(Registration number: NI630051)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,000

2,000

Tangible assets

5

123,749

126,123

 

124,749

128,123

Current assets

 

Stocks

6

5,175

4,950

Debtors

7

442,071

389,472

Cash at bank and in hand

 

11,405

78,811

 

458,651

473,233

Creditors: Amounts falling due within one year

8

(463,112)

(489,596)

Net current liabilities

 

(4,461)

(16,363)

Total assets less current liabilities

 

120,288

111,760

Creditors: Amounts falling due after more than one year

8

(11,611)

(22,479)

Provisions for liabilities

(29,335)

(22,745)

Net assets

 

79,342

66,536

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

79,242

66,436

Shareholders' funds

 

79,342

66,536

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Martin McAleese Fruit & Veg Limited

(Registration number: NI630051)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Approved and authorised by the director on 13 August 2024
 

.........................................
Mr Martin McAleese
Director

 

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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: 14 Lisnagarron Lane, Portglenone, Ballymena, Co Antrim, BT44 8EX.

These financial statements were authorised for issue by the director on 13 August 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.

Revenue recognition

Turnover represents amounts chargeable in respect of the sale of goods to customers.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Martin McAleese Fruit & Veg Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% straight line basis

Plant, fixtures and fittings

25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line basis

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

 

Martin McAleese Fruit & Veg Limited

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

Leases

Assets obtained under finance lease contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the group, are capitalised in the balance sheet and are depreciated over the shorter of the lease term or their useful lives. The interest element of such contracts is charged to the profit and loss account over the period of the lease in proportion to the outstanding balance of repayments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 20 (2023 - 20).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

10,000

10,000

At 30 April 2024

10,000

10,000

Amortisation

At 1 May 2023

8,000

8,000

Amortisation charge

1,000

1,000

At 30 April 2024

9,000

9,000

Carrying amount

At 30 April 2024

1,000

1,000

At 30 April 2023

2,000

2,000

 

Martin McAleese Fruit & Veg Limited

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

5

Tangible assets

Improvements
£

Motor vehicles
 £

Plant, fixtures and fittings
 £

Total
£

Cost or valuation

At 1 May 2023

6,410

172,138

168,737

347,285

Additions

-

45,150

1,958

47,108

Disposals

-

(21,038)

-

(21,038)

At 30 April 2024

6,410

196,250

170,695

373,355

Depreciation

At 1 May 2023

-

125,032

96,130

221,162

Charge for the year

-

25,320

18,648

43,968

Eliminated on disposal

-

(15,524)

-

(15,524)

At 30 April 2024

-

134,828

114,778

249,606

Carrying amount

At 30 April 2024

6,410

61,422

55,917

123,749

At 30 April 2023

6,410

47,106

72,607

126,123

 

Martin McAleese Fruit & Veg Limited

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

6

Stocks

2024
£

2023
£

Stock

5,175

4,950

7

Debtors

Current

2024
£

2023
£

Trade debtors

422,705

376,470

Prepayments

6,565

3,719

Other debtors

12,801

9,283

 

442,071

389,472

 

Martin McAleese Fruit & Veg Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loan

10,000

10,000

Trade creditors

 

361,004

399,735

Taxation and social security

 

22,410

9,205

Accruals

 

3,296

3,051

Other creditors

 

66,402

67,605

 

463,112

489,596

Creditors: amounts falling due after more than one year

Non-current loans and borrowings

2024
£

2023
£

Bank loan

11,611

22,479

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Related party transactions

The amount owed to the director at the year end was as follows:-

2024
 £

2023
 £

Directors current account

66,402

67,162