Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30PMCK Holdings Limitedtrue2023-07-01falseelectrical contracting4449truefalse NI062901 2023-07-01 2024-06-30 NI062901 2022-07-01 2023-06-30 NI062901 2024-06-30 NI062901 2023-06-30 NI062901 c:Director1 2023-07-01 2024-06-30 NI062901 c:Director3 2023-07-01 2024-06-30 NI062901 d:Buildings 2023-07-01 2024-06-30 NI062901 d:Buildings 2024-06-30 NI062901 d:Buildings 2023-06-30 NI062901 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI062901 d:Buildings d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI062901 d:PlantMachinery 2023-07-01 2024-06-30 NI062901 d:PlantMachinery 2024-06-30 NI062901 d:PlantMachinery 2023-06-30 NI062901 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI062901 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI062901 d:MotorVehicles 2023-07-01 2024-06-30 NI062901 d:MotorVehicles 2024-06-30 NI062901 d:MotorVehicles 2023-06-30 NI062901 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI062901 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI062901 d:OfficeEquipment 2023-07-01 2024-06-30 NI062901 d:OfficeEquipment 2024-06-30 NI062901 d:OfficeEquipment 2023-06-30 NI062901 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI062901 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI062901 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI062901 d:LeasedAssetsHeldAsLessee 2023-07-01 2024-06-30 NI062901 d:Goodwill 2024-06-30 NI062901 d:Goodwill 2023-06-30 NI062901 d:CurrentFinancialInstruments 2024-06-30 NI062901 d:CurrentFinancialInstruments 2023-06-30 NI062901 d:Non-currentFinancialInstruments 2024-06-30 NI062901 d:Non-currentFinancialInstruments 2023-06-30 NI062901 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 NI062901 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 NI062901 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 NI062901 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 NI062901 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-06-30 NI062901 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 NI062901 d:ShareCapital 2024-06-30 NI062901 d:ShareCapital 2023-06-30 NI062901 d:RetainedEarningsAccumulatedLosses 2024-06-30 NI062901 d:RetainedEarningsAccumulatedLosses 2023-06-30 NI062901 c:FRS102 2023-07-01 2024-06-30 NI062901 c:Audited 2023-07-01 2024-06-30 NI062901 c:FullAccounts 2023-07-01 2024-06-30 NI062901 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI062901 d:HirePurchaseContracts d:WithinOneYear 2024-06-30 NI062901 d:HirePurchaseContracts d:WithinOneYear 2023-06-30 NI062901 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-06-30 NI062901 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-06-30 NI062901 c:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI062901 2 2023-07-01 2024-06-30 NI062901 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: NI062901










P MCK LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
P MCK LTD
REGISTERED NUMBER: NI062901

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
834,818
845,551

  
834,818
845,551

Current assets
  

Stocks
  
306,210
294,212

Debtors: amounts falling due after more than one year
 7 
250,000
250,000

Debtors: amounts falling due within one year
 7 
3,628,912
3,413,457

Cash at bank and in hand
 8 
243,146
9,001

  
4,428,268
3,966,670

Creditors: amounts falling due within one year
 9 
(3,494,681)
(3,314,272)

Net current assets
  
 
 
933,587
 
 
652,398

Total assets less current liabilities
  
1,768,405
1,497,949

Creditors: amounts falling due after more than one year
 10 
(155,497)
(220,022)

Provisions for liabilities
  

Deferred tax
  
(80,871)
-

  
 
 
(80,871)
 
 
-

Net assets
  
1,532,037
1,277,927


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
1,532,034
1,277,924

  
1,532,037
1,277,927


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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 March 2025.




Page 1

 
P MCK LTD
REGISTERED NUMBER: NI062901

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

................................................
Peter McKearney
................................................
Paul McKearney
Director
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

P McK Ltd is a private company limited by shares incorporated in Northern Ireland. The registered office is 47 Grange Road, Moy, Dungannon, Co. Tyrone, Northern Ireland, BT71 7FQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 4

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.11
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
2%
Straight line
Plant and machinery
-
25%
Reducing Balance
Motor vehicles
-
25%
Reducing Balance
Office equipment
-
25%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods
Key sources of estimation uncertanity
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Amounts recoverable on contracts
When the outcome of a construction project contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and accruals/costs are recognised over the period of the contract by reference to the stage of completion using the 'percentage-of-completion-method' to determine the appropriate amount to recognise in a given period. When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised immediately.


4.


Employees

The average monthly number of employees, including directors, during the year was 44 (2023 - 49).

Page 7

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Intangible assets




Goodwill

£



Cost


At 1 July 2023
239,177



At 30 June 2024

239,177



Amortisation


At 1 July 2023
239,177



At 30 June 2024

239,177



Net book value



At 30 June 2024
-



At 30 June 2023
-



Page 8

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost


At 1 July 2023
498,091
386,646
406,797
48,698
1,340,232


Additions
-
15,397
66,733
7,021
89,151



At 30 June 2024

498,091
402,043
473,530
55,719
1,429,383



Depreciation


At 1 July 2023
8,273
215,001
242,649
28,758
494,681


Charge for the year on owned assets
8,273
26,674
15,101
5,613
55,661


Charge for the year on financed assets
-
10,254
33,969
-
44,223



At 30 June 2024

16,546
251,929
291,719
34,371
594,565



Net book value



At 30 June 2024
481,545
150,114
181,811
21,348
834,818



At 30 June 2023
489,818
171,645
164,148
19,940
845,551

Page 9

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
250,000
250,000

250,000
250,000


2024
2023
£
£

Due within one year

Trade debtors
1,862,404
2,111,721

Amounts owed by group undertakings
707,940
492,347

Other debtors
138,348
16,406

Prepayments and accrued income
70,577
50,394

Amounts recoverable on long-term contracts
846,247
742,589

Tax recoverable
3,396
-

3,628,912
3,413,457


Amounts owed by group undertakings falling due within one year are unsecured, interest free and repayable on demand.
Amounts owed by group undertakings falling due after one year bears an interest charge of 2.5%.


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
243,146
9,001

Less: bank overdrafts
-
(24,153)

243,146
(15,152)


Page 10

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
24,153

Bank loans
57,549
62,237

Trade creditors
2,326,435
2,240,606

Amounts owed to group undertakings
-
79,190

Corporation tax
-
20,052

Other taxation and social security
62,924
336,788

Obligations under finance lease and hire purchase contracts
48,681
49,282

Other creditors
117,809
169,639

Accruals and deferred income
881,283
332,325

3,494,681
3,314,272


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
Bank loans are secured by a fixed charge over the site adjacent to 6 Cullion Road, Dungannon.

2024
2023
£
£

Other taxation and social security

PAYE/NI control
62,924
208,995

VAT control
-
127,793

62,924
336,788



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
65,464
124,312

Net obligations under finance leases and hire purchase contracts
90,033
95,710

155,497
220,022


Page 11

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
57,549
62,237


57,549
62,237

Amounts falling due 2-5 years

Bank loans
65,464
124,312


65,464
124,312



123,013
186,549



12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
48,681
49,282

Between 1-5 years
90,033
95,710

138,714
144,992


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £24,248 (2023 - £26,660) contributions totalling £3,694 (2023 - £2,746) were payable to the fund at the balance sheet date and are included in creditors.

Page 12

 
P MCK LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

14.


Controlling party

The immediate and ultimate parent undertaking of the company is PMCK Holdings Limited, a company registered in Northern Ireland.
The smallest and largest undertaking of which the company is a member, and for which group financial statements are prepared is PMCK Holdings Limited, a company incorporated in the Northern Ireland. Group financial statements for this company are prepared and are available to the public from the company's registered office.
There is deemed no ultimate controlling party by virtue of a split in the shareholdings.  


15.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.

The audit report was signed on 4 March 2025 by Deborah Mullen (Senior statutory auditor) on behalf of AAB Group Accountants Limited.


Page 13