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REGISTERED NUMBER: NI027206 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

MACNABB BROS (WASTE MANAGEMENT) LTD

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


MACNABB BROS (WASTE MANAGEMENT) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: V MacNabb
C Clancy
Mrs N McGrath
M J R McPolin



REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



REGISTERED NUMBER: NI027206 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
Chartered Certified Accountants
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Danske Bank
58 Market Street
Downpatrick
BT30 6LX

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 37,959 42,959
Tangible assets 5 1,225,260 1,292,725
1,263,219 1,335,684

CURRENT ASSETS
Debtors 6 4,472,307 3,687,783
Cash at bank and in hand 609,801 606,258
5,082,108 4,294,041
CREDITORS
Amounts falling due within one year 7 2,743,805 2,309,552
NET CURRENT ASSETS 2,338,303 1,984,489
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,601,522

3,320,173

CREDITORS
Amounts falling due after more than one
year

8

(578,862

)

(804,508

)

PROVISIONS FOR LIABILITIES (302,738 ) (322,664 )
NET ASSETS 2,719,922 2,193,001

CAPITAL AND RESERVES
Called up share capital 1,111 1,111
Share premium 43,401 43,401
Retained earnings 2,675,410 2,148,489
2,719,922 2,193,001

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

BALANCE SHEET - continued
30 APRIL 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2025 and were signed on its behalf by:





M J R McPolin - Director


MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

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


1. STATUTORY INFORMATION

MacNabb Bros (Waste Management) 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 address of the company's place of business is 23 Downpatrick Road, Killough, Downpatrick, BT30 7QB.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

Consider the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets other than goodwill
Intangible assets other than goodwill represent licenses which have an infinite life. These assets are not subject to systematic amortisation but will be reviewed annually for impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance, 20% on reducing balance, 20% on cost, 13% on reducing balance, 10% on cost, 4% on cost, at varying rates on cost and at variable rates on reducing balance

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Government grants
Government grants in respect of capital expenditure are credited to the profit and loss account over the estimated useful life of the relevant fixed assets. The grants shown in the balance sheet represent the total grants receivable to date less the amount so far credited to the profit and loss account.

Revenue grants are credited to the profit and loss account in the period to which they relate.

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 82,572 37,959 120,531
AMORTISATION
At 1 May 2023 77,572 - 77,572
Charge for year 5,000 - 5,000
At 30 April 2024 82,572 - 82,572
NET BOOK VALUE
At 30 April 2024 - 37,959 37,959
At 30 April 2023 5,000 37,959 42,959

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 3,854,354
Additions 160,625
Disposals (132,000 )
At 30 April 2024 3,882,979
DEPRECIATION
At 1 May 2023 2,561,629
Charge for year 201,110
Eliminated on disposal (105,020 )
At 30 April 2024 2,657,719
NET BOOK VALUE
At 30 April 2024 1,225,260
At 30 April 2023 1,292,725

MACNABB BROS (WASTE MANAGEMENT) LTD (REGISTERED NUMBER: NI027206)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 2,576,270 2,139,370
Amounts owed by group undertakings 1,521,410 1,521,410
Other debtors 374,627 27,003
4,472,307 3,687,783

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 224,117 219,085
Hire purchase contracts - 6,208
Trade creditors 1,869,869 1,429,712
Taxation and social security 295,555 244,517
Other creditors 354,264 410,030
2,743,805 2,309,552

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 578,862 804,508

9. ULTIMATE CONTROLLING PARTY

The company is controlled by MacNabb Environmental Limited by virtue of its shareholding.