Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-31In 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.2025-05-262025-05-262024-05-312025-05-26Amounts owed to group undertakings are unsecured, interest free and repayable on demand. Included in creditors the company had the following related party transactions:252507742604959346593464142010false2023-06-01falseg0falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI026618 2023-06-01 2024-05-31 NI026618 2022-06-01 2023-05-31 NI026618 c:Item1 d:UnitedKingdom 2023-06-01 2024-05-31 NI026618 c:Item1 d:UnitedKingdom 2022-06-01 2023-05-31 NI026618 c:CostSales 2023-06-01 2024-05-31 NI026618 c:CostSales 2022-06-01 2023-05-31 NI026618 c:CostSales c:Item1 2023-06-01 2024-05-31 NI026618 c:CostSales c:Item1 2022-06-01 2023-05-31 NI026618 c:CostSales c:Item2 2023-06-01 2024-05-31 NI026618 c:CostSales c:Item2 2022-06-01 2023-05-31 NI026618 c:Item8 d:UnitedKingdom 2023-06-01 2024-05-31 NI026618 c:Item8 d:UnitedKingdom 2022-06-01 2023-05-31 NI026618 c:CostSales c:Item3 2023-06-01 2024-05-31 NI026618 c:CostSales c:Item3 2022-06-01 2023-05-31 NI026618 c:CostSales c:Item4 2023-06-01 2024-05-31 NI026618 c:CostSales c:Item4 2022-06-01 2023-05-31 NI026618 c:AdministrativeExpenses 2023-06-01 2024-05-31 NI026618 c:AdministrativeExpenses 2022-06-01 2023-05-31 NI026618 c:AdministrativeExpenses c:Item1 2023-06-01 2024-05-31 NI026618 c:AdministrativeExpenses c:Item1 2022-06-01 2023-05-31 NI026618 c:AdministrativeExpenses c:Item2 2023-06-01 2024-05-31 NI026618 c:AdministrativeExpenses c:Item2 2022-06-01 2023-05-31 NI026618 c:AdministrativeExpenses c:Item3 2023-06-01 2024-05-31 NI026618 c:AdministrativeExpenses c:Item3 2022-06-01 2023-05-31 NI026618 c:AdministrativeExpenses c:Item5 2023-06-01 2024-05-31 NI026618 c:AdministrativeExpenses c:Item5 2022-06-01 2023-05-31 NI026618 c:Item1 2023-06-01 2024-05-31 NI026618 c:Item1 2022-06-01 2023-05-31 NI026618 c:Item2 2023-06-01 2024-05-31 NI026618 c:Item2 2022-06-01 2023-05-31 NI026618 c:CostSales c:Item7 2023-06-01 2024-05-31 NI026618 c:CostSales c:Item7 2022-06-01 2023-05-31 NI026618 2024-05-31 NI026618 2023-05-31 NI026618 2022-06-01 NI026618 1 2023-06-01 2024-05-31 NI026618 f:Director1 2023-06-01 2024-05-31 NI026618 f:Director1 2024-05-31 NI026618 f:Director2 2023-06-01 2024-05-31 NI026618 f:Director2 2024-05-31 NI026618 f:Director3 2023-06-01 2024-05-31 NI026618 f:Director3 2024-05-31 NI026618 f:RegisteredOffice 2023-06-01 2024-05-31 NI026618 f:Agent1 2023-06-01 2024-05-31 NI026618 f:Agent2 2023-06-01 2024-05-31 NI026618 e:PlantMachinery 2023-06-01 2024-05-31 NI026618 e:PlantMachinery 2024-05-31 NI026618 e:PlantMachinery 2023-05-31 NI026618 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI026618 e:FurnitureFittings 2023-06-01 2024-05-31 NI026618 e:FurnitureFittings 2024-05-31 NI026618 e:FurnitureFittings 2023-05-31 NI026618 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI026618 e:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 NI026618 e:CurrentFinancialInstruments 2024-05-31 NI026618 e:CurrentFinancialInstruments 2023-05-31 NI026618 e:Non-currentFinancialInstruments 2024-05-31 NI026618 e:Non-currentFinancialInstruments 2023-05-31 NI026618 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 NI026618 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 NI026618 e:Non-currentFinancialInstruments e:AfterOneYear 2024-05-31 NI026618 e:Non-currentFinancialInstruments e:AfterOneYear 2023-05-31 NI026618 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2024-05-31 NI026618 e:Non-currentFinancialInstruments e:BetweenOneTwoYears 2023-05-31 NI026618 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2024-05-31 NI026618 e:Non-currentFinancialInstruments e:BetweenTwoFiveYears 2023-05-31 NI026618 e:ShareCapital 2024-05-31 NI026618 e:ShareCapital 2023-05-31 NI026618 e:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 NI026618 e:RetainedEarningsAccumulatedLosses 2024-05-31 NI026618 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 NI026618 e:RetainedEarningsAccumulatedLosses 2023-05-31 NI026618 e:RetainedEarningsAccumulatedLosses 2022-06-01 NI026618 f:FRS102 2023-06-01 2024-05-31 NI026618 f:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI026618 f:FullAccounts 2023-06-01 2024-05-31 NI026618 f:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI026618 e:HirePurchaseContracts e:WithinOneYear 2024-05-31 NI026618 e:HirePurchaseContracts e:WithinOneYear 2023-05-31 NI026618 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-05-31 NI026618 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-05-31 NI026618 2 2023-06-01 2024-05-31 NI026618 4 2023-06-01 2024-05-31 NI026618 g:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

img1ed0.png






Financial Statements
McFadden (Civils) Limited
For the financial year ended 31 May 2024





































Registered number: NI026618

 
McFadden (Civils) Limited
 

Company Information


Directors
Desmond McFadden 
Shane McFadden 
Emmett McFadden 




Registered number
NI026618



Registered office
225 Killyclogher Road

Omagh

Co Tyrone




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 (Civils) 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 - 16


 
McFadden (Civils) Limited
 
 
Directors' Report
For the financial year ended 31 May 2024

The directors present their report and the financial statements for the financial year ended 31 May 2024.

Results and dividends

The profit for the financial year, after taxation, amounted to £845,423 (2023 - £416,875).

The directors recommended payment of a final dividend amounting to £54,000 (2023 - £99,000). 

Directors

The directors who served during the financial year were:

Desmond McFadden 
Shane McFadden 
Emmett McFadden 

Post balance sheet events

There have been no significant events affecting the company since the 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.
 





................................................
Desmond McFadden
Director
................................................
Shane McFadden
Director


Date: 26 May 2025
Date: 26 May 2025

Page 1

 
McFadden (Civils) 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

  
img52a5.png
Independent Accountant's Report to the directors of the unaudited financial statements of McFadden (Civils) 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 (Civils) 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 (Civils) 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 (Civils) 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 (Civils) 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 (Civils) 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 (Civils) 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 (Civils) 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 (Civils) Limited
 

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

2024
2023
Note
£
£

  

Turnover
  
12,245,999
8,990,577

Cost of sales
  
(9,216,068)
(7,206,501)

Gross profit
  
3,029,931
1,784,076

Administrative expenses
  
(2,103,126)
(1,251,136)

Operating profit
  
926,805
532,940

Interest receivable and similar income
  
12,033
1,806

Interest payable and similar expenses
  
(22,638)
(2,108)

Profit before tax
  
916,200
532,638

Tax on profit
  
(70,777)
(115,763)

Profit for the financial year
  
845,423
416,875

  

  

Retained earnings at the beginning of the financial year
  
2,125,697
1,762,822

Profit for the financial year
  
845,423
416,875

Dividends declared and paid
  
(90,000)
(54,000)

Retained earnings at the end of the financial year
  
2,881,120
2,125,697

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 16 form part of these financial statements.

Page 4

 
McFadden (Civils) Limited
Registered number:NI026618

Balance Sheet
As at 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
1,026,884
356,551

  
1,026,884
356,551

Current assets
  

Stocks
 7 
25,000
25,000

Debtors: amounts falling due within one year
 8 
1,639,058
1,495,334

Cash at bank and in hand
 9 
1,885,152
977,666

  
3,549,210
2,498,000

Creditors: amounts falling due within one year
 10 
(1,092,520)
(694,362)

Net current assets
  
 
 
2,456,690
 
 
1,803,638

Total assets less current liabilities
  
3,483,574
2,160,189

Creditors: amounts falling due after more than one year
 11 
(602,354)
(34,392)

  

Net assets
  
2,881,220
2,125,797


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
 16 
2,881,120
2,125,697

  
2,881,220
2,125,797


Page 5

 
McFadden (Civils) Limited
Registered number:NI026618

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 stateof affairs of the company as at 31 May 2024 and of its profit for the year in accordance with the requirements ofsections 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
................................................
Shane McFadden
Director
Director


Date: 26 May 2025

The notes on pages 7 to 16 form part of these financial statements.

Page 6

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

1.


General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the
registered office is McFadden (Civils) Ltd, 225 Killyclogher Road, Omagh, Co Tyrone, BT79 7PW. The principal activity of the company is building construction.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared in accordance with Section 1A of 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 judgment in applying the company's
accounting policies (see note 3).

The financial statements are presented in Sterling (£). 

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 (Civils) 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

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings 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.

 
2.6

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 (Civils) Limited
 

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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Taxation

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.


 
2.9

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.

Page 9

 
McFadden (Civils) Limited
 

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

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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
Fixtures and fittings
-

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.

 
2.10

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 first in, first out 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

  
2.14

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.

Page 10

 
McFadden (Civils) Limited
 

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

2.Accounting policies (continued)

 
2.15

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.

  
2.16

Administration expenses

All expenses are recognised in the Statement of Income and Retained Earnings on the accruals basis.

  
2.17

Share capital

Ordinary shares are classified as equity. Incremental cost directly attributable to the issue of ordinary
shares and share options are recognised as a deduction from equity, net of any tax effects.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make 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 judgements on an ongoing basis.

Management bases its 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 judgement is considered important to the portrayal of the company’s financial condition:

Useful lives of depreciable assets
The directors estimate 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 Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).


5.


Directors' remuneration

2024
2023
£
£

Directors' emoluments
104,832
125,759

Company contributions to defined contribution pension schemes
9,000
9,750

113,832
135,509


Other than the amounts disclosed above, any further required disclosures under section 305 and 306 of the Companies Act 2014 were €nil for both the current and preceding financial years.

Page 11

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

6.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost 


At 1 June 2023
702,929
-
702,929


Additions
1,007,525
6,125
1,013,650



At 31 May 2024

1,710,454
6,125
1,716,579



Depreciation


At 1 June 2023
346,378
-
346,378


Charge for the financial year on owned assets
342,092
1,225
343,317



At 31 May 2024

688,470
1,225
689,695



Net book value



At 31 May 2024
1,021,984
4,900
1,026,884



At 31 May 2023
356,551
-
356,551


7.


Stocks

2024
2023
£
£

Stock
25,000
25,000

25,000
25,000


Page 12

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

8.


Debtors

2024
2023
£
£


Trade debtors and work in progress
1,022,645
1,229,144

Amounts owed by group undertakings (note 15)
29,673
29,673

Other debtors
586,740
236,517

1,639,058
1,495,334


Other debtors includes directors loan of €12,540 (2023 - €12,625) see note 15 for details.

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


9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,885,152
977,666

1,885,152
977,666



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans and overdrafts
9,771
9,449

Trade creditors
520,230
266,691

Amounts owed to group undertakings (note 15)
245,882
225,028

Corporation tax
71,739
117,161

Taxation and social insurance
87,740
43,851

Obligations under finance lease and hire purchase contracts
147,555
16,353

Accruals
9,603
15,829

1,092,520
694,362


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

Page 13

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
19,282
29,460

Obligations under finance lease and hire purchase contracts
583,072
4,932

602,354
34,392



12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
9,771
9,449

Amounts falling due 1-2 years

Bank loans
9,772
9,808

Amounts falling due 2-5 years

Bank loans
9,510
19,652


29,053
38,909



13.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
147,555
16,353

Between 1-5 years
583,072
4,932

730,627
21,285

Page 14

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

14.


Transactions with directors



2024
2023
£
£
Des McFadden
Opening balance

4,081

264
 
Advance to director

5,288

3,817
 
Received from director

(1,791)

-
 
7,578

4,081
 

2024
2023
£
£
Shane McFadden
Opening balance

3,657

2,591
 
Advance to director

-

2,232
 
Received from director

(1,791)

(1,166)
 
1,866

3,657
 

2024
2023
£
£
Emmett McFadden
Opening balance

4,887

4,887
 
Advance to director

-

-
 
Received from director

(1,791)

-
 
3,096

4,887
 

The maximum balance on directors loans during the financial year were €12,540 (2023 - €12,625) which
represented 0.59% (2023 - 0.59%) of the company's net assets.

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

Page 15

 
McFadden (Civils) Limited
 
 
Notes to the Financial Statements
For the financial year ended 31 May 2024

15.


Related party transactions

Included in debtors the company had the following related party transactions:

2024
2023
£
£
McFadden Equine Limited

29,173

29,173
 
McFadden Contracts

500

500
 
29,673

29,673
 

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

Included in creditors the company had the following related party transactions:

2024
2023
£
£
McFadden Plant Hire Limited

245,882

225,028
 
245,882

225,028
 

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


16.


Reserves

Profit and loss account

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


17.


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.


18.


Controlling party

The company is ultimately controlled by the directors. 

Page 16

 
McFadden (Civils) Limited
 

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

2024
2023
£
£

Turnover
12,245,999
8,990,577

Cost of Sales
(9,216,068)
(7,206,501)

Gross profit
3,029,931
1,784,076

Less: overheads

Administration expenses
(2,103,126)
(1,251,136)

Operating profit
926,805
532,940

Interest receivable
12,033
1,806

Interest payable
(22,638)
(2,108)

Tax on profit
(70,777)
(115,763)

Profit for the financial year
845,423
416,875

 

 
McFadden (Civils) Limited
 
 
Schedule to the Detailed Accounts
For the financial year ended 31 May 2024
2024
2023
£
£

Turnover

Sales 
12,242,786
8,990,577

Other income
3,213
-

12,245,999
8,990,577


2024
2023
£
£

Cost of sales

Opening stock
389,201
480,500

Closing stock
(774,702)
(25,000)

Purchases
2,001,788
1,094,097

Subcontractors
4,282,845
3,178,227

Agency staff 
54,035
33,711

Haulage
200,215
131,101

Health and safety
23,590
33,569

Hire of plant and machinery 
1,807,281
1,430,658

Plant and machinery expenses
1,067,228
616,742

Staff related costs
164,587
232,896

9,216,068
7,206,501


 

 
McFadden (Civils) Limited
 
 
Schedule to the Detailed Accounts
For the financial year ended 31 May 2024
2024
2023
£
£

Administration expenses

Directors' salaries 
104,832
125,759

Directors pension costs
9,000
9,750

Staff salaries
750,091
520,140

Staff pension costs
10,709
6,099

Staff training
11,841
-

Motor expenses 
477,684
370,779

Travelling and entertainment 
75,466
1,758

Printing and stationery
4,140
1,778

Telephone
25,829
27,757

Computer costs
9,164
552

Advertising and promotion
9,946
10,120

Trade subscriptions
5,888
4,469

Legal and professional
84,696
85,993

Accountancy fees
9,600
6,350

Equipment hire
2,328
-

Bank charges
4,302
3,809

Difference on foreign exchange
4,892
(22,477)

Sundry expenses
(77,233)
441

Rent 
68,908
20,280

Rates
22,622
4,182

Light and heat
22,765
7,806

Insurances
102,280
90,654

Repairs and maintenance
20,059
6,077

Depreciation
343,317
140,587

Profit on sale of tangible assets
-
(171,527)

2,103,126
1,251,136


2024
2023
£
£

Interest receivable

Bank interest receivable
12,033
1,806

12,033
1,806


 

 
McFadden (Civils) Limited
 
 
Schedule to the Detailed Accounts
For the financial year ended 31 May 2024
2024
2023
£
£

Interest payable

Bank overdraft interest
800
1,207

Other interest - on overdue tax
-
472

Hire purchase interest
21,838
429

22,638
2,108