BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 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 that of construction. 9 December 2024 16 21 NI639253 2024-06-30 NI639253 2023-06-30 NI639253 2022-06-30 NI639253 2023-07-01 2024-06-30 NI639253 2022-07-01 2023-06-30 NI639253 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI639253 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI639253 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI639253 uk-bus:FullAccounts 2023-07-01 2024-06-30 NI639253 uk-core:ShareCapital 2024-06-30 NI639253 uk-core:ShareCapital 2023-06-30 NI639253 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI639253 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI639253 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI639253 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI639253 uk-bus:FRS102 2023-07-01 2024-06-30 NI639253 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI639253 uk-core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 NI639253 uk-core:MotorVehicles 2023-07-01 2024-06-30 NI639253 uk-core:CurrentFinancialInstruments 2024-06-30 NI639253 uk-core:CurrentFinancialInstruments 2023-06-30 NI639253 uk-core:WithinOneYear 2024-06-30 NI639253 uk-core:WithinOneYear 2023-06-30 NI639253 uk-core:WithinOneYear 2024-06-30 NI639253 uk-core:WithinOneYear 2023-06-30 NI639253 uk-core:WithinOneYear 2024-06-30 NI639253 uk-core:WithinOneYear 2023-06-30 NI639253 uk-core:AfterOneYear 2024-06-30 NI639253 uk-core:AfterOneYear 2023-06-30 NI639253 uk-core:AfterOneYear 2024-06-30 NI639253 uk-core:AfterOneYear 2023-06-30 NI639253 uk-core:AfterOneYear 2024-06-30 NI639253 uk-core:AfterOneYear 2023-06-30 NI639253 uk-core:BetweenOneTwoYears 2024-06-30 NI639253 uk-core:BetweenOneTwoYears 2023-06-30 NI639253 uk-core:BetweenTwoFiveYears 2024-06-30 NI639253 uk-core:BetweenTwoFiveYears 2023-06-30 NI639253 uk-core:BetweenOneFiveYears 2024-06-30 NI639253 uk-core:BetweenOneFiveYears 2023-06-30 NI639253 uk-core:EmployeeBenefits 2023-06-30 NI639253 uk-core:EmployeeBenefits 2023-07-01 2024-06-30 NI639253 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-06-30 NI639253 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-06-30 NI639253 uk-core:OtherDeferredTax 2024-06-30 NI639253 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-06-30 NI639253 uk-core:EmployeeBenefits 2024-06-30 NI639253 uk-core:ParentEntities 2023-07-01 2024-06-30 NI639253 2023-07-01 2024-06-30 NI639253 uk-bus:Director1 2023-07-01 2024-06-30 NI639253 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI639253
 
 
Atmac Construction Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 June 2024
Atmac Construction Ltd
Company Registration Number: NI639253
BALANCE SHEET
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 1,074,686 1,448,684
───────── ─────────
 
Current Assets
Stocks 5 754,767 924,583
Debtors 6 110,310 256,344
Cash and cash equivalents 1,551 31,323
───────── ─────────
866,628 1,212,250
───────── ─────────
Creditors: amounts falling due within one year 7 (1,047,756) (1,200,943)
───────── ─────────
Net Current (Liabilities)/Assets (181,128) 11,307
───────── ─────────
Total Assets less Current Liabilities 893,558 1,459,991
 
Creditors:
amounts falling due after more than one year 8 (370,886) (698,536)
 
Provisions for liabilities 9 (107,291) (265,102)
───────── ─────────
Net Assets 415,381 496,353
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 415,380 496,352
───────── ─────────
Equity attributable to owners of the company 415,381 496,353
═════════ ═════════
 
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).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 June 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 9 December 2024
           
           
________________________________          
Mr. Peadar McMahon          
Director          
           



Atmac Construction Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Atmac Construction Ltd is a company limited by shares incorporated in Northern Ireland. 38 Roscavey Road, Beragh, Co Tyrone, BT79 0QH, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) 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 30 June 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 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:
 
  Plant and machinery - 10% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
  Motor vehicles - 20% 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 and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined 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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
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.
 
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 16 21
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 July 2023 1,755,068 40,230 239,216 2,034,514
Additions 5,662 8,800 - 14,462
Disposals (321,363) - (39,200) (360,563)
  ───────── ───────── ───────── ─────────
At 30 June 2024 1,439,367 49,030 200,016 1,688,413
  ───────── ───────── ───────── ─────────
Depreciation
At 1 July 2023 439,591 23,561 122,678 585,830
Charge for the financial year 109,017 5,094 18,290 132,401
On disposals (90,392) - (14,112) (104,504)
  ───────── ───────── ───────── ─────────
At 30 June 2024 458,216 28,655 126,856 613,727
  ───────── ───────── ───────── ─────────
Net book value
At 30 June 2024 981,151 20,375 73,160 1,074,686
  ═════════ ═════════ ═════════ ═════════
At 30 June 2023 1,315,477 16,669 116,538 1,448,684
  ═════════ ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Work in progress 754,767 924,583
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 62,556 111,164
Other debtors 23,201 23,517
Taxation 11,638 53,289
Prepayments and accrued income 12,915 68,374
  ───────── ─────────
  110,310 256,344
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 109,348 106,443
Bank loan 16,667 16,667
Net obligations under finance leases
and hire purchase contracts 212,956 299,586
Trade creditors 454,546 615,322
Taxation 239,157 160,925
Other creditors 1,151 -
Accruals:
Pension accrual 5,822 -
Other accruals 8,109 2,000
  ───────── ─────────
  1,047,756 1,200,943
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 18,055 33,333
Finance leases and hire purchase contracts 308,402 599,834
Amounts owed to group undertakings 44,429 65,369
  ───────── ─────────
  370,886 698,536
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 126,015 123,110
Repayable between one and two years 16,667 16,667
Repayable between two and five years 1,388 16,666
  ───────── ─────────
  144,070 156,443
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 212,956 299,586
Repayable between one and five years 308,402 599,834
  ───────── ─────────
  521,358 899,420
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 265,572 (470) 265,102 241,523
Charged to profit and loss (157,640) (171) (157,811) 23,579
  ───────── ───────── ───────── ─────────
At financial year end 107,932 (641) 107,291 265,102
  ═════════ ═════════ ═════════ ═════════
           
10. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
   
11. Parent company
 
The company regards Peadar Holdings Ltd as its parent company.
 
       
12. Bad Debts
 
During the year Atmac Construction Ltd worked on 2 contracts that had a value of £2,759,904 (€3,204,981). The company received £1,911,300 (€2,219,527) for this work and it then went to adjudication. After this process the company received a further £274,062 (€318,257). The remaining amount of £574,542 (€667,197) has been provided for as a bad debt and is included under administrative expenses in the profit and loss account.