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REGISTERED NUMBER: NI032932 (Northern Ireland)















MCLEAN FUELS LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024






MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


MCLEAN FUELS LIMITED

Company Information
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: John Maurice McLean
Karla McLean
Ryan McLean
Peter McLean
Joanna McLean





REGISTERED OFFICE: 19a Market Street
Magherafelt
BT45 6EE





REGISTERED NUMBER: NI032932 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
McLean Fuels Limited

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them 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 the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 30 September 2024 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.






CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP


18 December 2024

MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Statement of Financial Position
30 SEPTEMBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - 10,000
Tangible assets 6 637,470 676,125
637,470 686,125

CURRENT ASSETS
Stocks 177,301 255,354
Receivables: amounts falling due within
one year

7

351,688

421,357
Cash at bank and in hand 1,840,918 1,841,702
2,369,907 2,518,413
PAYABLES
Amounts falling due within one year 8 (2,169,213 ) (1,281,524 )
NET CURRENT ASSETS 200,694 1,236,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

838,164

1,923,014

PROVISIONS FOR LIABILITIES (66,304 ) (75,855 )
NET ASSETS 771,860 1,847,159

CAPITAL AND RESERVES
Called up share capital 707 1,000
Capital redemption reserve (1,001,520 ) -
Retained earnings 1,772,673 1,846,159
771,860 1,847,159

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Statement of Financial Position - continued
30 SEPTEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2024 and were signed on its behalf by:





Peter McLean - Director


MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

McLean Fuels Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

Inventories
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 14 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 October 2023
and 30 September 2024 100,000
AMORTISATION
At 1 October 2023 90,000
Amortisation for year 10,000
At 30 September 2024 100,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 10,000

MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£ £ £
COST
At 1 October 2023 372,705 198,907 135,687
Additions - 5,895 -
Disposals - - -
At 30 September 2024 372,705 204,802 135,687
DEPRECIATION
At 1 October 2023 - 105,048 128,105
Charge for year - 19,599 1,517
Eliminated on disposal - - -
At 30 September 2024 - 124,647 129,622
NET BOOK VALUE
At 30 September 2024 372,705 80,155 6,065
At 30 September 2023 372,705 93,859 7,582

Motor Computer
vehicles equipment Totals
£ £ £
COST
At 1 October 2023 803,577 1,742 1,512,618
Additions 30,833 816 37,544
Disposals (13,791 ) - (13,791 )
At 30 September 2024 820,619 2,558 1,536,371
DEPRECIATION
At 1 October 2023 603,113 227 836,493
Charge for year 53,848 469 75,433
Eliminated on disposal (13,025 ) - (13,025 )
At 30 September 2024 643,936 696 898,901
NET BOOK VALUE
At 30 September 2024 176,683 1,862 637,470
At 30 September 2023 200,464 1,515 676,125

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 244,235 285,334
Other debtors 107,453 136,023
351,688 421,357

MCLEAN FUELS LIMITED (REGISTERED NUMBER: NI032932)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade payables 664,359 676,652
Taxation and social security 40,598 80,884
Other payables 1,464,256 523,988
2,169,213 1,281,524