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Registration number: NI051320

Mara Developments Limited
Financial Statements
for the Year Ended 30 June 2025

Mara Developments Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Financial Statements | 3 to 8

Mara Developments Limited

Company Information

Directors | Michael McCausland Christopher McCausland

Company secretary | Christopher McCausland

Registered office | 33-35 Grosvenor Road Belfast BT12 4GR

Solicitors | Mills Selig 21 Arthur Street Belfast BT1 4GA

Bankers | Danske Bank Corporate Banking Donegall Square West Belfast BT1 6JS

Auditors | RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG

Company number | NI051320

Mara Developments Limited

(Registration number: NI051320)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,228 | 1,893
Current assets |  |  |
Stocks | 5 | 2,250,187 | 3,100,409
Debtors | 6 | 665,769 | 18,870
Cash at bank and in hand |  | - | 2,064
|  | 2,915,956 | 3,121,343
Creditors: Amounts falling due within one year | 7 | (1,240,279) | (221,381)
Net current assets |  | 1,675,677 | 2,899,962
Total assets less current liabilities |  | 1,676,905 | 2,901,855
Creditors: Amounts falling due after more than one year | 7 | (1,600,000) | (2,880,000)
Net assets |  | 76,905 | 21,855
Capital and reserves |  |  |
Called up share capital | 8 | 2 | 2
Retained earnings |  | 76,903 | 21,853
Shareholders' funds |  | 76,905 | 21,855

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 3 October 2025 and signed on its behalf by:

......................................... Christopher McCausland Company secretary and director

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 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:
33-35 Grosvenor Road
Belfast
BT12 4GR
Northern Ireland

The presentation currency is £ Sterling and the level of rounding is to the nearest £.

These financial statements were authorised for issue by the Board on 3 October 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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified.The Independent Auditor's Report was unqualified. The financial statements for the year ended 30 June 2024 were unaudited. In forming our opinion on the financial statements for the year ended 30 June 2025, which is not modified, we have obtained sufficient appropriate audit evidence that the opening balances do not contain material misstatements that materially affect the current period's financial statements.

The name of the Senior Statutory Auditor who signed the audit report on 6 October 2025 was Brian Stewart, who signed for and on behalf of RBCA Limited.

.........................................

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures & fittings | 10%-50% reducing balance

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.

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

4 | Tangible assets

| Fixtures and fittings £ | Total £
Cost or valuation
At 1 July 2024 | 27,971 | 27,971
At 30 June 2025 | 27,971 | 27,971
Depreciation
At 1 July 2024 | 26,078 | 26,078
Charge for the year | 665 | 665
At 30 June 2025 | 26,743 | 26,743
Carrying amount
At 30 June 2025 | 1,228 | 1,228
At 30 June 2024 | 1,893 | 1,893

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 2,250,187 | 3,100,409

6 | Debtors

Current | 2025 £ | 2024 £
Trade debtors | - | 8,488
Prepayments | 13,330 | 7,641
Other debtors | 652,439 | 2,741
| 665,769 | 18,870

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 9 | 312,010 | 165,087
Trade creditors |  | - | 443
Amounts owed to group undertakings and undertakings in which the company has a participating interest | 10 | 900,000 | -
Taxation and social security |  | - | 189
Accruals and deferred income |  | 28,269 | 45,544
Other creditors |  | - | 10,118
|  | 1,240,279 | 221,381

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Due after one year |  |  |
Loans and borrowings | 9 | 1,600,000 | 2,880,000

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary of £1 each | 2 | 2 | 2 | 2

Mara Developments Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

9 | Loans and borrowings

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 1,600,000 | 2,880,000

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 200,000 | 165,087
Bank overdrafts | 112,010 | -
| 312,010 | 165,087

10 | Related party transactions

The company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with entities that are wholly owned within the same group. This exemption applies as the Company is a wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available

11 | Relationship between entity and parents

During the year, a group restructuring was carried out, resulting in McCausland Group Limited becoming the new parent company of the group. Following this restructure, Mr. Christopher McCausland is considered the ultimate controlling party.
The parent of the largest group in which these financial statements are consolidated in McCausland Group Limited, Incorporated in United Kingdom.