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MACKIN ANIMAL FEEDS AND HARDWARE LTD

Registered Number
NI608429
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 August 2024

MACKIN ANIMAL FEEDS AND HARDWARE LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

MACKIN, Brian
MACKIN, Hugh
MACKIN, Peter Christopher

Registered Address

108 Dublin Road
Newry
BT35 8QP

Registered Number

NI608429 (Northern Ireland)
MACKIN ANIMAL FEEDS AND HARDWARE LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets11
Tangible assets721,885666,044
721,886666,045
Current assets
Stocks3250,000250,000
Debtors760,534788,595
Cash at bank and on hand878,982904,834
1,889,5161,943,429
Creditors amounts falling due within one year4(843,668)(941,635)
Net current assets (liabilities)1,045,8481,001,794
Total assets less current liabilities1,767,7341,667,839
Net assets1,767,7341,667,839
Capital and reserves
Called up share capital100100
Profit and loss account1,767,6341,667,739
Shareholders' funds1,767,7341,667,839
The financial statements were approved and authorised for issue by the Board of Directors on 31 May 2025, and are signed on its behalf by:
MACKIN, Brian
Director
MACKIN, Hugh
Director
MACKIN, Peter Christopher
Director

Registered Company No. NI608429
MACKIN ANIMAL FEEDS AND HARDWARE LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Goodwill Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year88
3.Stocks

2024

2023

££
Raw materials and consumables250,000250,000
Total250,000250,000
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables570,373600,205
Bank borrowings and overdrafts1,7912,082
Taxation and social security253,351321,195
Other creditors5,6535,653
Accrued liabilities and deferred income12,50012,500
Total843,668941,635
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.