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Registered number: NI635548










McKibbin Holdings Limited










Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2024

 
McKibbin Holdings Limited
Registered number: NI635548

Balance Sheet
As at 31 December 2024

2024
2023
Note
£000
£000

Fixed assets
  

Investments
 6 
1,994
1,994

  
1,994
1,994

Current assets
  

Debtors: amounts falling due within one year
 7 
70
70

Cash at bank and in hand
 8 
98
98

  
168
168

Creditors: amounts falling due within one year
 9 
(173)
-

Net current (liabilities)/assets
  
 
 
(5)
 
 
168

Total assets less current liabilities
  
1,989
2,162

  

Net assets
  
1,989
2,162


Capital and reserves
  

Profit and loss account
  
1,989
2,162

  
1,989
2,162


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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 June 2025.




Neil McKibbin
Director

The notes on pages 2 to 5 form part of these financial statements.

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Page 1

 
McKibbin Holdings Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

1.


General information

The principal activity of the company is the management of subsidiaries. The subsidiary companies are involved in the purchase, sale and hire of commercial vehicles and associated services. 
The company is a private company limited by shares and is incorporated and domiciled in Northern Ireland, within the United Kingdom. The address of its registered office is 47 Mallusk Road, Newtownabbey, County Antrim, Northern Ireland, BT36 4PJ. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of MBNI Holdings Ltd as at 31 December 2024 and these financial statements may be obtained from Companies House.

The company is a wholly owned subsidiary of MBNI Holdings Ltd. It is included in the consolidated financial statements of MBNI Holdings Ltd which are publicly available. The company is exempt by virtue of section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements. The financial statements are the company's separate financial statements.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

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Page 2

 
McKibbin Holdings Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements made in the process of preparing the group financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances:
 
(a) Critical judgements in applying the entity's accounting policies
There are no critical judgements in applying the company's accounting policies.
 
(b) Critical accounting estimates and assumptions
There are no critical accounting estimates and assumptions.


4.


Going concern

At the date of this report the Director is confident that the company and it subsidiaries can continue to demonstrate their resilience and navigate these challenging times successfully. At the balance sheet date the company had Net Assets of £1,989,000 (2023: £2,162,000). The Director has prepared budgets and cash flow forecasts for the company and its subsidiaries. As a result the Director continues to prepare the financial statements on a going concern basis as he is satisfied that the company has the ability to meet its liabilities as and when they fall due for a period of not less than 12 months from the date of this report. 

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Page 3

 
McKibbin Holdings Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

5.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


6.


Fixed asset investments





Investments in subsidiary companies

£000



Cost or valuation


At 1 January 2024
1,994



At 31 December 2024
1,994





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Registered office

Class of shares

Holding

M-B Truck and Van (NI) Limited
  47 Mallusk Road, Newtownabbey,
 Northern Ireland, BT36 4PJ
Ordinary
100%
Rossetts (UK) Limited
  Meadow Road Industrial Estate, Meadow Road, Worthing, West Sussex, BN11 2RU
Ordinary
100%
Rentatruck (Self Drive) Limited
  47 Mallusk Road, Newtownabbey,
 Northern Ireland, BT36 4PJ
Ordinary
100%
Truck & Trailer Spares (NI) Limited
  47 Mallusk Road, Newtownabbey,
 Northern Ireland, BT36 4PJ
Ordinary
100%
Inspired Business Investments Limited
  47 Mallusk Road, Newtownabbey,
 Northern Ireland, BT36 4PJ
Ordinary
100%


7.


Debtors

2024
2023
£000
£000


Other debtors
70
70

70
70


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McKibbin Holdings Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2024

8.


Cash and cash equivalents

2024
2023
£000
£000

Cash at bank and in hand
98
98

98
98



9.


Creditors: Amounts falling due within one year

2024
2023
£000
£000

Amounts owed to group undertakings
173
-

173
-



10.


Controlling party

The company is a subsidiary of MBNI Holdings Ltd, which is the immediate parent company. At the year end the ultimate parent undertaking was MBNI Holdings Ltd. At the year end, the smallest and largest group of undertakings for which group financial statements are drawn up and of which the company is a member is MBNI Holdings Ltd, a company incorporated in Northern Ireland. Copies of the group financial statements are available to the public from Companies House, The Linenhall, 32 Linenhall Street, Belfast, BT2 88G.
The ultimate controlling party is considered to be the shareholders of MBNI Holdings Ltd. 


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 13 June 2025 by Brian Clerkin (Senior Statutory Auditor) on behalf of Sumer AuditCo NI Limited.

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