Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-31There have been no significant events affecting the company since the financial year end. There have been no significant events affecting the company since the financial year end and the directors does not envisage any substantial changes to the nature of the business in the foreseeable future.In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS102 Section 1A – Small Entities.2025-05-262025-05-262024-05-312025-05-26Tangible 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. At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount. The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. 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 the Statement of Income and Retained Earnings.355561777842023-06-01false54falsefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI613225 2023-06-01 2024-05-31 NI613225 2022-06-01 2023-05-31 NI613225 c:Item1 d:UnitedKingdom 2023-06-01 2024-05-31 NI613225 c:Item1 d:UnitedKingdom 2022-06-01 2023-05-31 NI613225 c:Item2 d:UnitedKingdom 2023-06-01 2024-05-31 NI613225 c:Item2 d:UnitedKingdom 2022-06-01 2023-05-31 NI613225 c:CostSales 2023-06-01 2024-05-31 NI613225 c:CostSales 2022-06-01 2023-05-31 NI613225 c:AdministrativeExpenses 2023-06-01 2024-05-31 NI613225 c:AdministrativeExpenses 2022-06-01 2023-05-31 NI613225 c:AdministrativeExpenses c:Item1 2023-06-01 2024-05-31 NI613225 c:AdministrativeExpenses c:Item1 2022-06-01 2023-05-31 NI613225 c:AdministrativeExpenses c:Item2 2023-06-01 2024-05-31 NI613225 c:AdministrativeExpenses c:Item2 2022-06-01 2023-05-31 NI613225 c:AdministrativeExpenses c:Item3 2023-06-01 2024-05-31 NI613225 c:AdministrativeExpenses c:Item3 2022-06-01 2023-05-31 NI613225 c:Item1 2023-06-01 2024-05-31 NI613225 c:Item1 2022-06-01 2023-05-31 NI613225 c:Item2 2023-06-01 2024-05-31 NI613225 c:Item2 2022-06-01 2023-05-31 NI613225 c:Item10 2023-06-01 2024-05-31 NI613225 c:Item10 2022-06-01 2023-05-31 NI613225 2024-05-31 NI613225 2023-05-31 NI613225 2022-06-01 NI613225 1 2023-06-01 2024-05-31 NI613225 f:Director1 2023-06-01 2024-05-31 NI613225 f:Director2 2023-06-01 2024-05-31 NI613225 f:Director2 2024-05-31 NI613225 f:Director3 2023-06-01 2024-05-31 NI613225 f:Director3 2024-05-31 NI613225 f:RegisteredOffice 2023-06-01 2024-05-31 NI613225 f:Agent1 2023-06-01 2024-05-31 NI613225 f:Agent2 2023-06-01 2024-05-31 NI613225 e:PlantMachinery 2023-06-01 2024-05-31 NI613225 e:PlantMachinery 2024-05-31 NI613225 e:PlantMachinery 2023-05-31 NI613225 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI613225 e:CurrentFinancialInstruments 2024-05-31 NI613225 e:CurrentFinancialInstruments 2023-05-31 NI613225 e:Non-currentFinancialInstruments 2024-05-31 NI613225 e:Non-currentFinancialInstruments 2023-05-31 NI613225 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 NI613225 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 NI613225 e:Non-currentFinancialInstruments e:AfterOneYear 2024-05-31 NI613225 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 NI613225 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-05-31 NI613225 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-05-31 NI613225 e:ShareCapital 2024-05-31 NI613225 e:ShareCapital 2023-05-31 NI613225 e:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 NI613225 e:RetainedEarningsAccumulatedLosses 2024-05-31 NI613225 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 NI613225 e:RetainedEarningsAccumulatedLosses 2023-05-31 NI613225 e:RetainedEarningsAccumulatedLosses 2022-06-01 NI613225 f:FRS102 2023-06-01 2024-05-31 NI613225 f:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI613225 f:FullAccounts 2023-06-01 2024-05-31 NI613225 f:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI613225 e:HirePurchaseContracts e:WithinOneYear 2024-05-31 NI613225 e:HirePurchaseContracts e:WithinOneYear 2023-05-31 NI613225 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-05-31 NI613225 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-05-31 NI613225 g:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

img7733.png






Financial Statements
McFadden Plant Hire Limited
For the financial year ended 31 May 2024





































Registered number: NI613225

 
McFadden Plant Hire Limited
 

Company Information


Directors
Desmond McFadden 
Emmett McFadden 
Shane McFadden 




Registered number
NI613225



Registered office
255 Killyclogher Road
Omagh

Northern Ireland

BT79 7PW




Accountants
Grant Thornton Business Advisory Services Limited
Chartered Accountants

13 - 18 City Quay

Dublin 2




Bankers
Danske Bank
Market Street

Omagh

Co Tyrone





AIB Bank

Ballybofey

Co Donegal





 
McFadden Plant Hire Limited
 

Contents



Page
Directors' Report
1
Directors' Responsibilities Statement
2
Accountant's Report
3
Statement of Income and Retained Earnings
4
Balance Sheet
5 - 6
Notes to the Financial Statements
7 - 15

 
McFadden Plant Hire Limited
 
 
Directors' Report
For the financial year ended 31 May 2024

The directors present their report and the financial statements of McFadden Plant Hire Limited (the company) the for the financial year ended 31 May 2024.

Results and dividends

The profit after tax for the financial year after tax amounted to £311,403 (2023 -£661,766).

The company did not pay an interim dividend during the financial year and the directors have not recommended a
final dividend since the financial year end (2023 - £nil).

Directors

The directors who served during the financial year were:

Desmond McFadden 
Emmett McFadden 
Shane McFadden 


Post balance sheet events

There have been no significant events affecting the company since the financial year end.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf by:
 





................................................
Desmond McFadden
Director
................................................
Emmett McFadden
Director


Date: 26 May 2025
Date: 26 May 2025
Page 1

 
McFadden Plant Hire Limited
 

Directors' Responsibilities Statement
For the financial year ended 31 May 2024

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

 In preparing these financial statements, the directors are required to:

select suitable accounting policies and then apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.




.............................................                                                 ..................................................
Desmond McFadden   
                                                         Emmet Mcfadden
Director                                                                                  Director


Date:                                                                                       Date:
                                                                           

Page 2

  
img0c63.png
Independent Accountant's Report to the directors on the unaudited financial statements of McFadden Plant Hire Limited for the financial year ended 31 May 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of McFadden Plant Hire Limited for the financial year ended 31 May 2024, which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements. 
 
This report is made solely to the directors of McFadden Plant Hire Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of McFadden Plant Hire Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than McFadden Plant Hire Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410  (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board  (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered  Accountants Ireland relating to members undertaking the compilation of financial statements. 

You have approved the financial statements for the financial year ended 31 May 2024 and you have acknowledged on the Balance Sheet as at 31 May 2024 your duty to ensure that McFadden Plant Hire Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that McFadden Plant Hire Limited is exempt from the statutory audit requirement for the financial year ended 31 May 2024.

We have not been instructed to carry out an audit or review the financial statements of McFadden Plant Hire Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. 




  


Grant Thornton Business Advisory Services Limited

Chartered Accountants
13 - 18 City Quay
Dublin 2







Date:   26 May 2025
Page 3

 
McFadden Plant Hire Limited
 

Statement of Income and Retained Earnings
For the financial year ended 31 May 2024

2024
2023
Note
£
£

  

Turnover
  
1,115,619
1,157,447

Cost of sales
  
(45,329)
(35,127)

Gross profit
  
1,070,290
1,122,320

Administrative expenses
  
(635,317)
(484,516)

Other operating income
  
1,081
95,646

Operating profit
  
436,054
733,450

Interest payable and similar expenses
  
(22,107)
(27,618)

Profit before tax
  
413,947
705,832

Tax on profit
  
(102,544)
(44,066)

Profit for the financial year
  
311,403
661,766

  

  

Retained earnings at the beginning of the financial year
  
1,868,418
1,206,652

Profit for the financial year
  
311,403
661,766

Retained earnings at the end of the financial year
  
2,179,821
1,868,418

There were no recognised gains and losses for 2024 or 2023 other than those included in the Statement of Income and Retained Earnings.

All amounts relate to continuing operations.

The notes on pages 7 to 15 form part of these financial statements.

Page 4

 
McFadden Plant Hire Limited
Registered number:NI613225

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,376,703
1,374,498

  
1,376,703
1,374,498

Current assets
  

Debtors: amounts falling due within one year
 7 
274,174
347,983

Cash at bank and in hand
 8 
1,174,185
937,288

  
1,448,359
1,285,271

Creditors: amounts falling due within one year
 9 
(363,372)
(346,640)

Net current assets
  
 
 
1,084,987
 
 
938,631

Total assets less current liabilities
  
2,461,690
2,313,129

Creditors: amounts falling due after more than one year
 10 
(281,769)
(444,611)

  

Net assets
  
2,179,921
1,868,518


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
2,179,821
1,868,418

  
2,179,921
1,868,518

Page 5

 
McFadden Plant Hire Limited
Registered number:NI613225

Balance Sheet (continued)
As at 31 May 2024

The directors consider that the company is entitled to exemption from the requirement to have an audit under the
provisions of section 477 of the Companies Act 2006 and members have not required the company to obtain an
audit for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 May 2024 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Companies Act 2006 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS102 Section 1A – Small Entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Desmond McFadden
................................................
Emmett McFadden
Director
Director


Date: 26 May 2025
Date: 26 May 2025

The notes on pages 7 to 15 form part of these financial statements.

Page 6

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

1.


General information

McFadden Plant Hire Limited (the company) is a private company limited by shares and is incorporated in Northern Ireland under the number NI613225. The company's registered office addresses is 255 Killyclogher Road, Omagh, Northern Ireland, BT79 7PW. The company's principal activities are renting and leasing of construction and civil engineering machinery and equipment.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies (see note 3).

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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 7

 
McFadden Plant Hire Limited
 

Notes to the Financial Statements
For the financial year ended 31 May 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the financial year in which they are incurred.

Page 8

 
McFadden Plant Hire Limited
 

Notes to the Financial Statements
For the financial year ended 31 May 2024

2.Accounting policies (continued)

 
2.6

Tax

Tax is recognised in the Statement of Income and Retained Earnings 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 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.

 
2.7

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight line

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 the Statement of Income and Retained Earnings.

 
2.8

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.

Page 9

 
McFadden Plant Hire Limited
 

Notes to the Financial Statements
For the financial year ended 31 May 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

  
2.11

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make estimates and judgements that
affect the reported amounts of assets and liabilities at the date of financial statements and the reported
amount of income and expenses during the reporting period. Management evaluates its estimates and
judgements on an ongoing basis.

Management bases its estimates and judgements on historical experience on various other factors that are
believed to be reasonable under the circumstances. Actual results may differ from these estimates under
different assumption or conditions.

The following estimates and judgement are considered important to the portrayal of the company’s financial
condition:

Estimating useful lives of depreciable assets
The director has judged the useful lives of the tangible fixed assets to be the period over which the assets are expected to be available for use.


4.


Employees

The average monthly number of employees, including the directors, during the financial year was as follows:


        2024
        2023
            No.
            No.







Administration
4
4

Page 10

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

5.


Directors' remuneration

The directors did not receive any remuneration (2023 -£nil).





6.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 June 2023
2,267,266


Additions
584,790


Disposals
(89,930)



At 31 May 2024

2,762,126



Depreciation


At 1 June 2023
892,768


Charge for the financial year
492,655



At 31 May 2024

1,385,423



Net book value



At 31 May 2024
1,376,703



At 31 May 2023
1,374,498

Page 11

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

7.


Debtors

2024
2023
£
£


Trade debtors
2,188
99,223

Amounts owed by group undertakings (note 14)
245,882
225,028

VAT
26,104
23,732

274,174
347,983


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.


8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,174,185
937,288

1,174,185
937,288



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
9,586
9,586

Trade creditors
270
-

Directors loan (note 13)
85,713
26,714

Corporation tax
92,574
43,866

Payroll taxes
2,348
1,036

Obligations under hire purchase contracts
165,781
193,039

Other creditors
-
59,000

Accruals
7,100
13,399

363,372
346,640




Page 12

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,480
29,341

Net obligations under finance leases and hire purchase contracts
262,289
415,270

281,769
444,611



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,586
9,586

Amounts falling due 1-2 years

Bank loans
19,480
29,341

29,066
38,927



12.


Hire purchase


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
165,781
193,039

Between 1-5 years
262,289
415,270

428,070
608,309

Page 13

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

13.


Transactions with directors


2024
2023
£
£
Emmet McFadden
Opening balance

8,917

8,917
 
Advance to director

-

-
 
Received from director

19,666

-
 
Closing balance
28,583

8,917
 

2024
2023
£
£
Shane McFadden
Opening balance

8,861

8,861
 
Advance to director

-

-
 
Received from director

19,666

-
 
Closing balance
28,527

8,861
 

The above loans are unsecured, interest free and repayable on demand.


14.


Related party transactions

The company had the following related party transactions:

2024
2023
£
£
McFadden Civils Limited

245,882

225,028
 
245,882

225,028
 

The above loan was unsecured, interest free and repayable on demand. 


15.


Reserves

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses here. 


16.


Post balance sheet events

There have been no significant events affecting the company since the financial year end and the directors
does not envisage any substantial changes to the nature of the business in the foreseeable future.

Page 14

 
McFadden Plant Hire Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

17.


Controlling party

The company is ultimately controlled by the directors.
Page 15

 
McFadden Plant Hire Limited
 

Detailed profit and loss account
For the financial year ended 31 May 2024

2024
2023
£
£

Turnover
1,115,619
1,157,447

Cost of sales
(45,329)
(35,127)

Gross profit
1,070,290
1,122,320

Other operating income
1,081
95,646

Less: overheads

Administration expenses
(635,317)
(484,516)

Operating profit
436,054
733,450

Interest payable
(22,107)
(27,618)

Tax on profit
(102,544)
(44,066)

Profit for the financial year
311,403
661,766

 

 
McFadden Plant Hire Limited
 
 
Schedule to the Detailed Accounts
For the financial year ended 31 May 2024
2024
2023
£
£

Turnover

Sales 
1,071,064
1,107,402

Stone sales
44,555
50,045

1,115,619
1,157,447


2024
2023
£
£

Cost of sales

Commissions payable
45,329
35,127

45,329
35,127


2024
2023
£
£

Other operating income

Profit on sale of fixed assets
1,081
95,646

1,081
95,646


2024
2023
£
£

Administration expenses

Wages and salaries
81,278
53,922

Employer PRSI
7,121
4,180

Motor running costs
18,348
10,483

Computer costs
334
286

Accountancy fees
7,100
4,200

Equipment hire
3,500
-

Bank charges
316
292

Difference on foreign exchange
9,971
(7,422)

Sundry expenses
3,113
1,209

Rates
4,367
-

Insurance
6,314
5,719

Repairs and maintenance
900
-

Depreciation
492,655
411,647

635,317
484,516


 

 
McFadden Plant Hire Limited
 
 
Schedule to the Detailed Accounts
For the financial year ended 31 May 2024
2024
2023
£
£

Interest payable

Bank overdraft interest 
535
1,208

Hire purchase interest
21,572
26,410

22,107
27,618