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Director
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30/04/2025
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Director
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for and on behalf of
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Chartered Certified Accountants
56 Upper English Street
Armagh
Co. Armagh
BT61 7LG
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| 31 July 2024 | 31 July 2023 | |||
|---|---|---|---|---|
| Notes | £ | £ | ||
| TURNOVER | 3 |
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| Cost of sales |
( |
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| GROSS PROFIT |
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| Distribution costs |
( |
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| Administrative expenses |
( |
( |
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| Other operating income |
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| OPERATING PROFIT | 5 |
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| Profit on disposal of fixed assets |
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| Interest payable and similar charges | 10 |
( |
( |
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| PROFIT BEFORE TAXATION |
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| Tax on Profit | 11 |
( |
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| PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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| 31 July 2024 | 31 July 2023 | |||
|---|---|---|---|---|
| £ | £ | |||
| PROFIT FOR THE FINANCIAL YEAR |
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| OTHER COMPREHENSIVE INCOME FOR THE YEAR | - | - | ||
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO THE OWNERS OF THE PARENT |
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| 31 July 2024 | 31 July 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 12 |
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| Tangible Assets | 13 |
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| CURRENT ASSETS | |||||
| Stocks | 15 |
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| Debtors | 16 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 17 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 18 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 21 |
( |
( |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 23 |
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| Revaluation reserve |
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( |
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| Capital redemption reserve |
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| Exchange rate reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 6,720,055 | 6,207,115 | |||
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Director
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Director
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| 31 July 2024 | 31 July 2023 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 12 |
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| Tangible Assets | 13 |
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| Investments | 14 |
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| CURRENT ASSETS | |||||
| Debtors | 16 |
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| Creditors: Amounts Falling Due Within One Year | 17 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 23 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 4,790,889 | 4,833,307 | |||
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Director
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Director
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| Share Capital | Revaluation reserve | Capital Redemption | Exchange rate reserve | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| As at 22 May 2023 |
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( |
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| Profit for the period and total comprehensive income | - | - | - | - |
| Dividends paid | - | - | - | - |
| Movement | - | - | - | (27,942) |
| As at 31 July 2023 and 1 August 2023 |
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( |
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| Profit for the year and total comprehensive income | - | - | - | - |
| Dividends paid | - | - | - | - |
| Movement | - | - | - | (4,667) |
| As at 31 July 2024 |
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( |
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| Profit and Loss Account | Total | |
|---|---|---|
| £ | £ | |
| As at 22 May 2023 |
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4,141,848 |
| Profit for the period and total comprehensive income |
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2,178,209 |
| Dividends paid | (85,000) | (85,000) |
| Movement | - | (27,942) |
| As at 31 July 2023 and 1 August 2023 |
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6,207,115 |
| Profit for the year and total comprehensive income |
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562,607 |
| Dividends paid | (45,000) | (45,000) |
| Movement | - | (4,667) |
| As at 31 July 2024 |
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6,720,055 |
| Share Capital | Profit and Loss Account | Total | |
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| £ | £ | £ | |
| As at 22 May 2023 |
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5,725 |
| Profit for the period and total comprehensive income | - |
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4,912,582 |
| Dividends paid | - | (85,000) | (85,000) |
| As at 31 July 2023 and 1 August 2023 |
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4,833,307 |
| Profit for the year and total comprehensive income | - |
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2,582 |
| Dividends paid | - | (45,000) | (45,000) |
| As at 31 July 2024 |
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4,790,889 |
| 31 July 2024 | 31 July 2023 | |||
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| Notes | £ | £ | ||
| Cash flows from operating activities | ||||
| Net cash generated from/(used in) operations | 1 |
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| Interest paid |
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| Tax (paid)/refunded |
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| Net cash generated from/(used in) operating activities |
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| Cash flows from investing activities | ||||
| Purchase of intangible assets |
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| Purchase of tangible assets |
( |
( |
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| Proceeds from disposal of tangible assets |
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| Proceeds from disposal of investment in subsidiary undertaking |
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| Net cash used in investing activities |
( |
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| Cash flows from financing activities | ||||
| Proceeds from issue of share capital |
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| Equity dividends paid |
( |
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| Proceeds from new bank borrowings |
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| Repayment of bank borrowings |
( |
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| Repayment of finance leases |
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| Amount introduced by directors | 45,000 | 85,000 | ||
| Amount withdrawn by directors | (43,770) | (107,340) | ||
| Net cash (used in)/generated from financing activities |
( |
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| Decrease in cash and cash equivalents |
( |
( |
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| Cash and cash equivalents at beginning of year | 2 |
( |
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| Cash and cash equivalents at end of year | 2 |
( |
( |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Profit for the financial year |
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| Adjustments for: | |||
| Tax on profit |
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| Interest expense |
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| Amortisation of intangible assets |
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| Depreciation of tangible assets |
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| Profit on disposal of tangible assets | (38,758) | (1,515,779) | |
| Foreign exchange gains | (4,667) | - | |
| Movements in working capital: | |||
| Decrease/(increase) in stocks |
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( |
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| Decrease/(increase) in trade and other debtors |
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( |
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| (Decrease)/increase in trade and other creditors |
( |
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| Net cash generated from/(used in) operations |
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( |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Cash at bank and in hand |
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| Overdraft facilities repayable on demand |
( |
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| Cash and cash equivalents as stated in the Statement of Cash Flows | (1,300,013) | (1,242,270) | |
| As at 1 August 2023 | Cash flows | New finance leases | As at 31 July 2024 | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cash at bank and in hand |
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100,476 | - |
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| Overdraft facilities repayable on demand | (8,077,646) | (158,219) | - | (8,235,865) |
| Cash and cash equivalents |
( |
(57,743) | - |
( |
| Finance leases | (1,503,072) | 529,759 | (180,300) | (1,153,613) |
| Debts falling due after more than one year | (1,784,544) | 365,209 | - | (1,419,335) |
| (4,529,886) | 837,225 | (180,300) | (3,872,961) | |
| Freehold |
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| Office Buildings |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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| Leased Assets |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| United Kingdom |
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| Europe |
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| 15,147,684 | 13,781,698 | ||
| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Commission income |
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| Rental income |
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| Other operating income |
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| 25,784 | 282,295 | ||
| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bad debts | (3,133) | 34,935 | |
| Depreciation of tangible fixed assets |
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| Amortisation of intangible fixed assets |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Wages and salaries |
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| Social security costs |
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| Other pension costs |
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| 31 July 2024 | 31 July 2023 | ||
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| Production & Administration |
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| 31 July 2024 | 31 July 2023 | ||
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| £ | £ | ||
| Emoluments |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
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| Finance charges payable under finance leases and hire purchase contracts | 80,988 | 73,905 | |
| Foreign exchange charges |
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| Other finance charges |
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| 491,417 | 429,819 | ||
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The tax charge on the profit for the year was as follows:
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| Tax Rate | 31 July 2024 | 31 July 2023 | |||
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| 31 July 2024 | 31 July 2023 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | 25.0% | 20.1% |
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| Deferred Tax | |||||
| Deferred taxation |
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| Total tax charge for the period |
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The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
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| 31 July 2024 | 31 July 2023 | ||||
| £ | £ | ||||
| Profit before tax | 852,013 | 2,471,114 | |||
| Tax on profit at 25% (UK standard rate) |
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| Goodwill/depreciation not allowed for tax |
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( |
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| Capital allowances |
( |
( |
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| Short term timing differences |
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| Difference in tax rates |
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| Total tax charge for the period | 289,406 | 292,905 | |||
| Goodwill | |||
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| £ | |||
| Cost | |||
| As at 1 August 2023 |
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| As at 31 July 2024 |
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| Amortisation | |||
| As at 1 August 2023 |
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| Provided during the period |
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| As at 31 July 2024 |
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| Net Book Value | |||
| As at 31 July 2024 |
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| As at 1 August 2023 |
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| Goodwill | |||
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| £ | |||
| Cost | |||
| As at 1 August 2023 |
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| As at 31 July 2024 |
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| Amortisation | |||
| As at 1 August 2023 |
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| Provided during the period |
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| As at 31 July 2024 |
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| Net Book Value | |||
| As at 31 July 2024 |
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| As at 1 August 2023 |
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| Land & Property | ||||
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| Freehold | Office Buildings | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 August 2023 |
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| Additions |
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| Disposals |
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( |
( |
| As at 31 July 2024 |
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| Depreciation | ||||
| As at 1 August 2023 |
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| Provided during the period |
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| Disposals |
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( |
( |
| As at 31 July 2024 |
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| Net Book Value | ||||
| As at 31 July 2024 |
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| As at 1 August 2023 |
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| Fixtures & Fittings | Leased Assets | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 August 2023 |
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| Additions |
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| Disposals |
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( |
| As at 31 July 2024 |
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| Depreciation | |||
| As at 1 August 2023 |
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| Provided during the period |
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| Disposals |
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( |
| As at 31 July 2024 |
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| Net Book Value | |||
| As at 31 July 2024 |
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( |
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| As at 1 August 2023 |
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| Land & Property | |
|---|---|
| Freehold | |
| £ | |
| Cost | |
| As at 1 August 2023 |
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| Additions |
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| As at 31 July 2024 |
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| Depreciation | |
| As at 1 August 2023 |
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| Provided during the period |
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| As at 31 July 2024 |
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| Net Book Value | |
| As at 31 July 2024 |
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| As at 1 August 2023 |
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| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 August 2023 |
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| As at 31 July 2024 |
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| Provision | |
| As at 1 August 2023 |
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| As at 31 July 2024 |
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| Net Book Value | |
| As at 31 July 2024 |
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| As at 1 August 2023 |
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Subsidiary undertakings
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Registered Office
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Nature of business
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Class of share
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Percentage of shares held
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Joseph Barrett & Sons Limited
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Northern Ireland
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Concrete blocks & ready mix
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Ordinary
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100
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Neil Mullin & Sons Limited
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Northern Ireland
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Sand & Aggregates
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Ordinary
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100
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DC Piling Ltd
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Northern Ireland
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Piling
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Ordinary
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100
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Mullin Concrete (Emyvale) Limited
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Republic of Ireland
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Sand, gravel & cement
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Ordinary
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100
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
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| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | 31 July 2024 | 31 July 2023 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Deferred VAT |
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| IR VAT |
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( |
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| Amounts owed by group undertakings | - | - | - |
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| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | 31 July 2024 | 31 July 2023 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
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| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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- | - | |||
| VAT |
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- | - | |||
| Pension | 5,414 | - | - | - | |||
| Other creditors |
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| Aggregate levy |
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| Accruals and deferred income |
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| Directors' loan accounts |
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| Amounts owed to group undertakings | - | - |
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| Group | ||||
|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | |||
| £ | £ | |||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans |
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| Other creditors | 93,584 | 139,084 | ||
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2024
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2023
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£
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£
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|
Danske - No2 Covid loan
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1,028,964
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1,447,238
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Danske - COVID 19
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219,119
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337,306
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Altamuskin Road loan
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171,252
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-
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| Group | ||||
|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | |||
| £ | £ | |||
| Bank loans |
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| Group | ||||
|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | |||
| £ | £ | |||
| Bank loans and overdrafts | 9,655,200 | 9,862,190 | ||
| Group | ||||
|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | |||
| £ | £ | |||
| Amounts falling due after more than five years: | ||||
| Bank loans |
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| Group | ||||
|---|---|---|---|---|
| 31 July 2024 | 31 July 2023 | |||
| £ | £ | |||
| The future minimum finance lease payments are as follows: | ||||
| Not later than one year |
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| Later than one year and not later than five years |
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| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 762,430 | 702,717 | |
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 August 2023 |
|
702,717 |
| Additions |
|
59,713 |
| Balance at 31 July 2024 |
|
762,430 |
| 31 July 2024 | 31 July 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
|
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