1 January 2024 false Taxfiler 2024.6 NI049058business:PrivateLimitedCompanyLtd2024-01-012024-12-31 NI0490582023-12-31 NI0490582024-01-012024-12-31 NI049058business:AuditExemptWithAccountantsReport2024-01-012024-12-31 NI049058business:FilletedAccounts2024-01-012024-12-31 NI0490582024-12-31 NI049058business:Director12024-01-012024-12-31 NI049058business:RegisteredOffice2024-01-012024-12-31 NI0490582023-12-31 NI049058core:WithinOneYear2024-12-31 NI049058core:WithinOneYear2023-12-31 NI049058core:AfterOneYear2024-12-31 NI049058core:AfterOneYear2023-12-31 NI049058core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 NI049058core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 NI049058core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 NI049058core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 NI049058core:PreviouslyStatedAmount2024-12-31 NI049058core:PreviouslyStatedAmount2023-12-31 NI049058business:SmallEntities2024-01-012024-12-31 NI049058countries:NorthernIreland2024-01-012024-12-31 NI049058core:LandBuildings2024-01-012024-12-31 NI049058core:PlantMachinery2024-01-012024-12-31 NI049058core:MotorVehicles2024-01-012024-12-31 NI049058core:Goodwill2023-12-31 NI049058core:Goodwill2024-12-31 NI049058core:LandBuildings2023-12-31 NI049058core:PlantMachinery2023-12-31 NI049058core:MotorVehicles2023-12-31 NI049058core:LandBuildings2024-12-31 NI049058core:PlantMachinery2024-12-31 NI049058core:MotorVehicles2024-12-31 NI0490582023-01-012023-12-31 iso4217:GBP xbrli:pure
Company Registration No. NI049058 (Northern Ireland)
Vemac Engineering Ltd Unaudited accounts for the year ended 31 December 2024
Vemac Engineering Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Vemac Engineering Ltd Company Information for the year ended 31 December 2024
Director
Vincent James McCann
Company Number
NI049058 (Northern Ireland)
Registered Office
64 Aughrim Road Magherafelt BT45 6JY Northern Ireland
Accountants
McGrath Pattison Ltd 61d Main Street Maghera Londonderry BT46 5AB
- 3 -
Vemac Engineering Ltd Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5
612,961 
625,694 
Current assets
Inventories
24,250 
26,750 
Debtors
6
50,054 
59,951 
Cash at bank and in hand
58,235 
177,760 
132,539 
264,461 
Creditors: amounts falling due within one year
7
(77,855)
(171,221)
Net current assets
54,684 
93,240 
Total assets less current liabilities
667,645 
718,934 
Creditors: amounts falling due after more than one year
8
(6,739)
(16,254)
Net assets
660,906 
702,680 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
660,904 
702,678 
Shareholders' funds
660,906 
702,680 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 September 2025 and were signed on its behalf by
Vincent James McCann Director Company Registration No. NI049058
- 4 -
Vemac Engineering Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Vemac Engineering Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI049058. The registered office is 64 Aughrim Road, Magherafelt, BT45 6JY, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
0% Straight Line
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2024
20,118 
At 31 December 2024
20,118 
Amortisation
At 1 January 2024
20,118 
At 31 December 2024
20,118 
Net book value
At 31 December 2024
- 
- 5 -
Vemac Engineering Ltd Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2024
573,347 
224,710 
57,123 
855,180 
Additions
- 
737 
- 
737 
At 31 December 2024
573,347 
225,447 
57,123 
855,917 
Depreciation
At 1 January 2024
9,228 
180,317 
39,941 
229,486 
Charge for the year
149 
9,026 
4,295 
13,470 
At 31 December 2024
9,377 
189,343 
44,236 
242,956 
Net book value
At 31 December 2024
563,970 
36,104 
12,887 
612,961 
At 31 December 2023
564,119 
44,393 
17,182 
625,694 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
5,243 
5,834 
Trade debtors
45,911 
55,217 
Accrued income and prepayments
2,400 
2,400 
Other debtors
(3,500)
(3,500)
50,054 
59,951 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
9,936 
9,936 
VAT
(7,359)
4,098 
Trade creditors
45,266 
32,171 
Taxes and social security
22,553 
18,846 
Loans from directors
39 
103,750 
Accruals
7,420 
2,420 
77,855 
171,221 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,739 
16,254 
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
- 6 -