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Registration number: NI629798

W & A McMaster Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2025

 

W & A McMaster Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

W & A McMaster Ltd

(Registration number: NI629798)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

1,231,536

947,237

Current assets

 

Stocks

5

202,590

199,070

Debtors

6

187,520

196,912

Cash at bank and in hand

 

57,317

5,221

 

447,427

401,203

Creditors: Amounts falling due within one year

7

(261,236)

(270,000)

Net current assets

 

186,191

131,203

Total assets less current liabilities

 

1,417,727

1,078,440

Creditors: Amounts falling due after more than one year

7

(187,016)

(221,128)

Provisions for liabilities

(167,323)

(112,329)

Net assets

 

1,063,388

744,983

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

1,063,288

744,883

Shareholders' funds

 

1,063,388

744,983

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 June 2025
 

.........................................
Mr Wilson McMaster
Company secretary and director

 

W & A McMaster Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
17 Roughan Road
Broughshane
Ballymena
Co Antrim
BT42 4QX

The principal place of business is:
17 Roughan Road
Broughshane
Ballymena
Co Antrim
BT42 4QX

These financial statements were authorised for issue by the director on 17 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

W & A McMaster Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

2% straight line basis

Plant and machinery

20% reducing balance basis

Motor vehicles

20% reducing balance basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

W & A McMaster Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

 

W & A McMaster Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Plant and Equipment
£

Total
£

Cost or valuation

At 1 April 2024

377,059

54,146

1,402,738

1,833,943

Additions

-

13,280

559,117

572,397

Disposals

-

-

(252,742)

(252,742)

At 31 March 2025

377,059

67,426

1,709,113

2,153,598

Depreciation

At 1 April 2024

25,679

10,829

850,198

886,706

Charge for the year

4,864

11,320

209,936

226,120

Eliminated on disposal

-

-

(190,764)

(190,764)

At 31 March 2025

30,543

22,149

869,370

922,062

Carrying amount

At 31 March 2025

346,516

45,277

839,743

1,231,536

At 31 March 2024

351,380

43,317

552,540

947,237

Included within the net book value of land and buildings above is £346,516 (2024 - £351,380) in respect of freehold land and buildings.
 

5

Stocks

2025
£

2024
£

Stock

202,590

199,070

6

Debtors

Current

2025
£

2024
£

Trade debtors

152,640

111,210

Prepayments

6,869

4,847

Other debtors

28,011

80,855

 

187,520

196,912

 

W & A McMaster Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

157,785

135,012

Trade creditors

 

62,178

74,429

Amounts due to related parties

986

15,420

Other payables

 

-

13,590

Accruals

 

2,840

2,304

Income tax liability

37,447

29,245

 

261,236

270,000

Due after one year

 

Loans and borrowings

187,016

221,128

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

187,016

221,128

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100