REGISTERED NUMBER: SC640207 (Scotland)

Financial Statements for the Year Ended 31st December 2024

for

McGraths Limestone UK Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

D McGrath

K McGrath

L McGrath

M McGrath

REGISTERED OFFICE:

Maxim 1 Parklands Way

Holytown

Motherwell

ML1 4WR

REGISTERED NUMBER:

SC640207 (Scotland)

AUDITORS:

Farries, Kirk & McVean

Chartered Accountants

Statutory Auditors

Dumfries Enterprise Park

Heathhall

Dumfries

DUMFRIESSHIRE

DG1 3SJ

FIXED ASSETS

Intangible assets

4

-

1,528

Tangible assets

5

9,600

14,400

9,600

15,928

CURRENT ASSETS

Stocks

149,248

123,951

Debtors

6

2,836,813

2,435,459

Cash at bank

2,104,167

4,154,931

5,090,228

6,714,341

CREDITORS

Amounts falling due within one year

7

(1,525,634

)

(3,634,942

)

NET CURRENT ASSETS

3,564,594

3,079,399

TOTAL ASSETS LESS CURRENT LIABILITIES

3,574,194

3,095,327

PROVISIONS FOR LIABILITIES

(2,400

)

(3,982

)

NET ASSETS

3,571,794

3,091,345

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

3,571,694

3,091,245

SHAREHOLDERS' FUNDS

3,571,794

3,091,345

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd September 2025 and were signed on its behalf by:

K McGrath - Director

1.	STATUTORY INFORMATION

McGraths Limestone UK Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover comprises revenue recognised by the company in respect of sales of liquid screed before close of business on the last working day of the year, excluding value added tax. Turnover is recognised based on delivery of product.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price and represent the full value of the services charged to customers.

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.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provisions and contingencies

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events: it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st January 2024

and 31st December 2024

7,637

AMORTISATION

At 1st January 2024

6,109

Charge for year

1,528

At 31st December 2024

7,637

NET BOOK VALUE

At 31st December 2024

-

At 31st December 2023

1,528

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

and 31st December 2024

24,000

DEPRECIATION

At 1st January 2024

9,600

Charge for year

4,800

At 31st December 2024

14,400

NET BOOK VALUE

At 31st December 2024

9,600

At 31st December 2023

14,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

2,500,632

2,392,935

Amounts owed by group undertakings

196,814

-

Other debtors

139,367

42,524

2,836,813

2,435,459

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

1,082,437

2,768,101

Amounts owed to group undertakings

-

3,711

Taxation and social security

435,716

845,654

Other creditors

7,481

17,476

1,525,634

3,634,942

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gerald McGill, BA CA (Senior Statutory Auditor)

for and on behalf of Farries, Kirk & McVean

9.	RELATED PARTY DISCLOSURES

During the year under review the McGraths Limestone UK Limited made purchases of £988,468 (2023 - £588,460) from McGraths Limestone (Cong) Limited.

McGraths Limestone (Cong) Limited also charged £3,406,368 (2023 - £1,771,133) for Head Office Charges.

At 31st December 2024 the company were owed the sum of £1,798 (2023- £Nil) by McGraths Limestone (Cong) Limited by way of trade debtors

At 31st December 2024 the company owed the sum of £Nil (2023 - £1,831,181) to McGraths Limestone (Cong) Limited by way of trade creditors.

The company also operates inter company loans with both McGraths Limestone (Cong) Limited and McGraths Limestone Works Limited (its holding company). At 31st December 2024 the company owed the sum of £Nil (2023 - £400) to McGraths Limestone Works Limited. The company was owed the sum of £196,814 by McGraths Limestone (Cong) Limited. At 31st December 2023 the company owed £3,311 to McGraths Limestone (Cong) Limited.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of McGraths Limestone Works Limited, Cregaree, Cong, Co. Mayo, Ireland. That company is currently owned 50/50 by brothers Michael McGrath and John Joe McGrath.