Martin McAleese Fruit & Veg Limited

(Registration number: NI630051)
Balance Sheet as at 30 April 2025

Approved and authorised by the director on 10 September 2025
 

......................................... Mr Martin McAleese Director

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

1	General information

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

The address of its registered office is: 14 Lisnagarron Lane, Portglenone, Ballymena, Co Antrim, BT44 8EX.

These financial statements were authorised for issue by the director on 10 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 represents amounts chargeable in respect of the sale of goods to customers.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

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 over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor Vehicles	20% straight line basis
Plant, fixtures and fittings	25% reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	10% straight line basis

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

Leases

Assets obtained under finance lease contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the group, are capitalised in the balance sheet and are depreciated over the shorter of the lease term or their useful lives. The interest element of such contracts is charged to the profit and loss account over the period of the lease in proportion to the outstanding balance of repayments.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 24 (2024 - 20).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 May 2024	10,000	10,000
At 30 April 2025	10,000	10,000
Amortisation
At 1 May 2024	9,000	9,000
Amortisation charge	1,000	1,000
At 30 April 2025	10,000	10,000
Carrying amount
At 30 April 2025	-	-
At 30 April 2024	1,000	1,000

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

5	Tangible assets

	Improvements £	Motor vehicles  £	Plant, fixtures and fittings  £	Total £
Cost or valuation
At 1 May 2024	6,410	196,250	170,695	373,355
Additions	-	97,474	114,224	211,698
At 30 April 2025	6,410	293,724	284,919	585,053
Depreciation
At 1 May 2024	-	134,828	114,778	249,606
Charge for the year	-	41,224	42,544	83,768
At 30 April 2025	-	176,052	157,322	333,374
Carrying amount
At 30 April 2025	6,410	117,672	127,597	251,679
At 30 April 2024	6,410	61,422	55,917	123,749

Martin McAleese Fruit & Veg Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2025

6

Stocks

	2025 £	2024 £
Stock	5,175	5,175