REGISTERED NUMBER: 14313985 (England and Wales)

MCGUINNESS BROTHERS CONSTRUCTION LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2023 TO 31 DECEMBER 2024

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

K M McGuinness

S McGuinness

D McGuinness

REGISTERED OFFICE:

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

REGISTERED NUMBER:

14313985 (England and Wales)

AUDITORS:

Miller & Co

Statutory Auditor

Chartered Accountants

5 Imperial Court

Laporte Way

Luton

Bedfordshire

LU4 8FE

CURRENT ASSETS

Stocks

-

138,635

Debtors

5

2,380

131,911

Cash at bank and in hand

65,241

300

67,621

270,846

CREDITORS

Amounts falling due within one year

6

442

205,550

NET CURRENT ASSETS

67,179

65,296

TOTAL ASSETS LESS CURRENT LIABILITIES

67,179

65,296

CAPITAL AND RESERVES

Called up, paid and allotted share capital

300

300

Retained earnings

66,879

64,996

SHAREHOLDERS' FUNDS

67,179

65,296

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 28 May 2025 and were signed on its behalf by:

K M McGuinness - Director

1.	STATUTORY INFORMATION

McGuinness Brothers Construction Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

These financial statements cover the 15 month period 1 September 2023 to 31 December 2024. The comparatives cover the period 23 August 2022 to 31 August 2023 and therefore they are not entirely comparable. The period end changed to align with that of the group.

Income recognition

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Construction contracts

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The percentage of completion method is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by surveys of the work performed. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments, or other assets depending on their nature, and provided it is probable they will be recovered.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2023 - 3 ) .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

2,380

131,911

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

-

151,026

Taxation and social security

442

17,754

Other creditors

-

36,770

442

205,550

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

The Report of the Auditors was unqualified.

The financial statements of the Company for the period ended 31 August 2023 were not audited and therefore the comparative figures are unaudited.

Stephen Healy (Senior Statutory Auditor)

for and on behalf of Miller & Co

8.	ULTIMATE CONTROLLING PARTY

McGuinness Brothers Group Ltd, a UK registered company, is the immediate and ultimate parent company. The registered office address is Unit 5 Imperial Court, Laporte Way, Luton, LU4 8FE.