Company Registration No. NI603961 (Northern Ireland)
MAC Farms Ltd
Unaudited accounts
for the year ended 31 August 2024
MAC Farms Ltd
Unaudited accounts
Contents
MAC Farms Ltd
Company Information
for the year ended 31 August 2024
Directors
Niall McKelvey
Sonya McKelvey
Company Number
NI603961 (Northern Ireland)
Registered Office
43 Skreen Road
Omagh
Co Tyrone
BT78 1SR
Accountants
A D Pottie & Co Ltd
1 Church Street
Fintona
Tyrone
BT78 2BR
MAC Farms Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
1,539,829
1,538,768
Inventories
94,882
186,051
Cash at bank and in hand
297,918
59,029
Creditors: amounts falling due within one year
(565,446)
(620,781)
Net current liabilities
(82,173)
(250,202)
Total assets less current liabilities
1,457,656
1,288,566
Creditors: amounts falling due after more than one year
(604,318)
(627,273)
Net assets
853,338
661,293
Called up share capital
100
100
Profit and loss account
853,238
661,193
Shareholders' funds
853,338
661,293
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by
Niall McKelvey
Director
Company Registration No. NI603961
MAC Farms Ltd
Notes to the Accounts
for the year ended 31 August 2024
MAC Farms Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI603961. The registered office is 43 Skreen Road, Omagh, Co Tyrone, BT78 1SR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At cost
At cost
At 1 September 2023
1,420,150
700,112
2,120,262
Additions
4,320
32,359
36,679
At 31 August 2024
1,424,470
732,471
2,156,941
At 1 September 2023
-
581,494
581,494
Charge for the year
-
35,618
35,618
At 31 August 2024
-
617,112
617,112
At 31 August 2024
1,424,470
115,359
1,539,829
At 31 August 2023
1,420,150
118,618
1,538,768
MAC Farms Ltd
Notes to the Accounts
for the year ended 31 August 2024
Amounts falling due within one year
Trade debtors
81,931
92,656
Other debtors
14,944
21,620
6
Investments held as current assets
2024
2023
Unlisted investments
100
100
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
22,841
22,595
Obligations under finance leases and hire purchase contracts
29,192
27,456
Trade creditors
54,237
102,708
Taxes and social security
71,462
19,904
Loans from directors
386,714
447,118
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
574,187
603,646
Obligations under finance leases and hire purchase contracts
30,131
23,627
9
Average number of employees
During the year the average number of employees was 7 (2023: 7).