REGISTERED NUMBER: NI013603 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

John Mcloughlin & Son (Shipping)

Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

58,987

863,774

CURRENT ASSETS

Debtors

5

116,371

331,026

Cash at bank

1,806,417

268,950

1,922,788

599,976

CREDITORS

Amounts falling due within one year

6

782,675

188,393

NET CURRENT ASSETS

1,140,113

411,583

TOTAL ASSETS LESS CURRENT LIABILITIES

1,199,100

1,275,357

PROVISIONS FOR LIABILITIES

8,556

106,237

NET ASSETS

1,190,544

1,169,120

CAPITAL AND RESERVES

Called up share capital

1,501

1,501

Capital redemption reserve

7

500

500

Retained earnings

7

1,188,543

1,167,119

1,190,544

1,169,120

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 October 2025 and were signed on its behalf by:

Mrs D Lavery - Director

1.	STATUTORY INFORMATION

John Mcloughlin & Son (Shipping) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number:

NI013603

Registered office:

Unit 3, Mackean Logistics Centre

Larne Port

Larne

Co. Antrim

BT40 1AJ

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

Tangible fixed assets

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

Vessels

-

5% on cost

Fixtures, Plant and Machinery

-

15% on cost

Motor vehicles

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 25 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

Plant and

Motor

Vessels

Machinery

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

2,481,207

272,272

113,662

2,867,141

Disposals

(2,112,390

)

(206,106

)

-

(2,318,496

)

At 31 March 2025

368,817

66,166

113,662

548,645

DEPRECIATION

At 1 April 2024

1,688,452

264,346

50,569

2,003,367

Charge for year

-

3,132

22,573

25,705

Eliminated on disposal

(1,335,114

)

(204,300

)

-

(1,539,414

)

At 31 March 2025

353,338

63,178

73,142

489,658

NET BOOK VALUE

At 31 March 2025

15,479

2,988

40,520

58,987

At 31 March 2024

792,755

7,926

63,093

863,774

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade debtors

94,511

307,270

Other debtors

21,860

23,756

116,371

331,026

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Bank loans and overdrafts

-

132

Trade creditors

11,846

12,446

Taxation and social security

761,163

162,631

Other creditors

9,666

13,184

782,675

188,393

7.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2024

1,167,119

500

1,167,619

Profit for the year

1,931,424

1,931,424

Dividends

(1,910,000

)

(1,910,000

)

At 31 March 2025

1,188,543

500

1,189,043