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REGISTERED NUMBER: NI634826 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 November 2024

for

McKee Engineering Solutions Ltd

McKee Engineering Solutions Ltd (Registered number: NI634826)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 9


McKee Engineering Solutions Ltd

Company Information
for the Year Ended 30 November 2024







DIRECTORS: W McKee
Mrs G R McKee





REGISTERED OFFICE: Unit 25
Glenavy Road Business Park
20 Glenavy Road
Moira
BT67 0LT





REGISTERED NUMBER: NI634826 (Northern Ireland)





ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

McKee Engineering Solutions Ltd (Registered number: NI634826)

Statement of Financial Position
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 391,972 370,101
391,972 370,101

CURRENT ASSETS
Stocks 7 62,266 46,688
Debtors 8 461,490 343,522
Cash at bank and in hand 69 16,019
523,825 406,229
CREDITORS
Amounts falling due within one year 9 480,081 326,533
NET CURRENT ASSETS 43,744 79,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

435,716

449,797

CREDITORS
Amounts falling due after more than one
year

10

(219,900

)

(251,860

)

PROVISIONS FOR LIABILITIES 13 (73,610 ) (75,321 )
NET ASSETS 142,206 122,616

McKee Engineering Solutions Ltd (Registered number: NI634826)

Statement of Financial Position - continued
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 14 100 10
Retained earnings 142,106 122,606
SHAREHOLDERS' FUNDS 142,206 122,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2025 and were signed on its behalf by:




W McKee - Director



Mrs G R McKee - Director


McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

McKee Engineering Solutions Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on Reducing Balance
Motor vehicles - 25% on Reducing Balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
Debtors and creditors receivable/payable within one year
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 ar recognised in the profit and loss account in other administrative expenses.

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 15 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 10,800
AMORTISATION
At 1 December 2023
and 30 November 2024 10,800
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 497,279 4,010 44,224 545,513
Additions 64,890 - 13,120 78,010
At 30 November 2024 562,169 4,010 57,344 623,523
DEPRECIATION
At 1 December 2023 137,050 2,333 36,029 175,412
Charge for year 47,080 417 8,642 56,139
At 30 November 2024 184,130 2,750 44,671 231,551
NET BOOK VALUE
At 30 November 2024 378,039 1,260 12,673 391,972
At 30 November 2023 360,229 1,677 8,195 370,101

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2023 377,870 26,290 404,160
Additions 44,819 13,120 57,939
At 30 November 2024 422,689 39,410 462,099
DEPRECIATION
At 1 December 2023 78,259 21,910 100,169
Charge for year 35,416 7,660 43,076
At 30 November 2024 113,675 29,570 143,245
NET BOOK VALUE
At 30 November 2024 309,014 9,840 318,854
At 30 November 2023 299,611 4,380 303,991

7. STOCKS
30.11.24 30.11.23
£    £   
Work-in-progress 62,266 46,688

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 461,490 343,522

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts (see note 11) 44,660 22,506
Hire purchase contracts 63,645 61,570
Trade creditors 137,555 147,257
McKee Investments Ltd 15,904 15,904
Tax 53 -
Social security and other taxes 17,051 10,885
VAT 96,258 8,183
Other loans 53,829 40,000
Company credit card 6,150 9,850
Directors' current accounts 36,014 3,510
Accrued expenses 8,962 6,868
480,081 326,533

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans (see note 11) 15,051 37,052
Hire purchase contracts 204,849 214,808
219,900 251,860

11. LOANS

An analysis of the maturity of loans is given below:

30.11.24 30.11.23
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 22,154 -
Bank loans 22,506 22,506
44,660 22,506

Amounts falling due between one and two years:
Bank loans - 1-2 years 15,051 22,506

Amounts falling due between two and five years:
Bank loans - 2-5 years - 14,546

McKee Engineering Solutions Ltd (Registered number: NI634826)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

12. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 268,494 276,378

13. PROVISIONS FOR LIABILITIES
30.11.24 30.11.23
£    £   
Deferred tax
Accelerated capital allowances - 56,226
Deferred tax 73,610 19,095
73,610 75,321

Deferred
tax
£   
Balance at 1 December 2023 75,321
Provided during year (1,711 )
Balance at 30 November 2024 73,610

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
10 Ordinary 10 100 10

15. ULTIMATE CONTROLLING PARTY

Willie and Guinevere McKee are the directors and shareholders in the company and are the ultimate controlling party of the company.