Registration number: NI667999

J.K.S (Magheramorne Estate) Ltd

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 7

J.K.S (Magheramorne Estate) Ltd

(Registration number: NI667999)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	682,425	691,351
Current assets
Stocks	6	14,138	8,600
Debtors	7	490,763	362,996
Cash at bank and in hand		81,424	56,632
		586,325	428,228
Creditors: Amounts falling due within one year	8	(1,004,315)	(969,206)
Net current liabilities		(417,990)	(540,978)
Total assets less current liabilities		264,435	150,373
Creditors: Amounts falling due after more than one year	8	(113,299)	(59,482)
Net assets		151,136	90,891
Capital and reserves
Called up share capital	9	100	100
Retained earnings		151,036	90,791
Shareholders' funds		151,136	90,891

For the financial year ending 31 December 2024 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 9 September 2025
 

......................................... Mr David Allen Director

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
59 Shore Road
Magheramorne
Larne
Co Antrim
BT40 3HW

These financial statements were authorised for issue by the director on 9 September 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.

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
Furniture, fittings and equipment	5-20% straight line
Motor vehicles	10% reducing balance

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

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.

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 29 (2023 - 14).

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Profit before tax

Arrived at after charging/(crediting)

	2024 £	2023 £
Depreciation expense	61,983	54,870

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	767,216	67,224	834,440
Additions	35,557	17,500	53,057
At 31 December 2024	802,773	84,724	887,497
Depreciation
At 1 January 2024	135,872	7,217	143,089
Charge for the year	54,232	7,751	61,983
At 31 December 2024	190,104	14,968	205,072
Carrying amount
At 31 December 2024	612,669	69,756	682,425
At 31 December 2023	631,344	60,007	691,351

6

Stocks

	2024 £	2023 £
Other inventories	14,138	8,600

7

Debtors

Current	Note	2024 £	2023 £
Amounts owed by related parties		352,295	330,062
Prepayments		8,604	2,333
Other debtors		129,864	30,601
		490,763	362,996

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

8

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	10	89,983	123,058
Trade creditors		481,911	428,895
Taxation and social security		25,167	22,735
Accruals and deferred income		13,655	6,191
Other creditors		393,599	388,327
		1,004,315	969,206

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	10	113,299	59,482

9	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	100	100	100	100

J.K.S (Magheramorne Estate) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

10	Loans and borrowings

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	83,831	29,491
Hire purchase contracts	29,468	29,991
	113,299	59,482

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	21,339	95,509
Bank overdrafts	55,132	17,661
Hire purchase contracts	13,512	9,888
	89,983	123,058

11	Parent and ultimate parent undertaking

The ultimate controlling party is the Allen Family.