BrightAccountsProduction v1.0.0 v1.0.0 2024-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the provision of drilling, excavation and groundworks services. 8 May 2025 23 25 NI622175 2025-01-31 NI622175 2024-01-31 NI622175 2023-01-31 NI622175 2024-02-01 2025-01-31 NI622175 2023-02-01 2024-01-31 NI622175 uk-bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 NI622175 uk-curr:PoundSterling 2024-02-01 2025-01-31 NI622175 uk-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 NI622175 uk-bus:FullAccounts 2024-02-01 2025-01-31 NI622175 uk-core:ShareCapital 2025-01-31 NI622175 uk-core:ShareCapital 2024-01-31 NI622175 uk-core:RetainedEarningsAccumulatedLosses 2025-01-31 NI622175 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI622175 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-01-31 NI622175 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI622175 uk-bus:FRS102 2024-02-01 2025-01-31 NI622175 uk-core:LandBuildings 2024-02-01 2025-01-31 NI622175 uk-core:PlantMachinery 2024-02-01 2025-01-31 NI622175 uk-core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 NI622175 uk-core:CurrentFinancialInstruments 2025-01-31 NI622175 uk-core:CurrentFinancialInstruments 2024-01-31 NI622175 uk-core:WithinOneYear 2025-01-31 NI622175 uk-core:WithinOneYear 2024-01-31 NI622175 uk-core:AfterOneYear 2025-01-31 NI622175 uk-core:AfterOneYear 2024-01-31 NI622175 uk-core:OtherMiscellaneousReserve 2024-01-31 NI622175 uk-core:OtherMiscellaneousReserve 2024-02-01 2025-01-31 NI622175 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-01-31 NI622175 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-01-31 NI622175 uk-core:OtherDeferredTax 2025-01-31 NI622175 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-01-31 NI622175 uk-core:OtherMiscellaneousReserve 2025-01-31 NI622175 2024-02-01 2025-01-31 NI622175 uk-bus:Director1 2024-02-01 2025-01-31 NI622175 uk-bus:AuditExempt-NoAccountantsReport 2024-02-01 2025-01-31 xbrli:pure iso4217:GBP xbrli:shares

GMAC Utilities Ltd

Unaudited Financial Statements

for the financial year ended 31 January 2025

GMAC Utilities Ltd

Company Registration Number: NI622175

BALANCE SHEET

as at 31 January 2025

|  |  | 2025 |  | 2024
|  | Notes | £ |  | £
Fixed Assets

Tangible assets |  | 4 | 84,089 |  | 99,022
|  |  | ───────── |  | ─────────
Current Assets

Stocks |  | 5 | 1,138,907 |  | 491,986
Debtors |  | 6 | 2,877,965 |  | 2,985,459
Cash and cash equivalents |  |  | 1,699,793 |  | 947,500
|  |  | ───────── |  | ─────────
|  |  | 5,716,665 |  | 4,424,945
|  |  | ───────── |  | ─────────
Creditors: amounts falling due within one year |  | 7 | (1,918,876) |  | (1,884,280)
|  |  | ───────── |  | ─────────
Net Current Assets |  |  | 3,797,789 |  | 2,540,665
|  |  | ───────── |  | ─────────
Total Assets less Current Liabilities |  |  | 3,881,878 |  | 2,639,687
Creditors:

amounts falling due after more than one year |  | 8 | (500,000) |  | (1,000,000)
Provisions for liabilities |  | 10 | (21,023) |  | (24,756)
|  |  | ───────── |  | ─────────
Net Assets |  |  | 3,360,855 |  | 1,614,931
|  |  | ═════════ |  | ═════════
Capital and Reserves

Called up share capital |  |  | 200 |  | 200
Retained earnings |  |  | 3,360,655 |  | 1,614,731
|  |  | ───────── |  | ─────────
Equity attributable to owners of the company |  |  | 3,360,855 |  | 1,614,931
|  |  | ═════════ |  | ═════════
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 8 May 2025 and signed on its behalf by

________________________________ |  |  |  |  |
Mr. Gerald McCloskey (JNR) |  |  |  |  |
Director |  |  |  |  |

GMAC Utilities Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 January 2025

1. | General Information
| GMAC Utilities Ltd is a private company, limited by shares incorporated in Northern Ireland. 16 Drumgaw Road, Armagh, Co. Armagh, BT60 2AD, Northern Ireland is the registered office, which is also the principal place of business of the company. The company registration number is NI622175. These financial statements cover the individual entity for the year ended 31st January 2025. The financial statements have been presented in Pound Sterling(£) which is also the functional currency of the company.

2. | Summary of Significant Accounting Policies
| The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
| Statement of compliance
| The financial statements of the company for the year ended 31 January 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
| Turnover
| Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax. Revenues for works completed are recognised when; the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity, the stage of completion can be measured reliably, and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.
| Tangible assets and depreciation
| Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Land and buildings freehold | - | 4% Straight Line
|  | Plant and machinery | - | 10% Reducing Balance
|  | Fixtures, fittings and equipment | - | 20% Straight line
| The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
| Leasing and hire purchases
| Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
| Stocks
| Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
| Trade and other debtors
| Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
| Trade and other creditors
| Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
| Employee benefits
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
| Taxation and deferred taxation
| Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Employees
| The average monthly number of employees, including directors, during the financial year was;
|  | 2025 | 2024
|  | Number | Number
| Employees | 23 | 25
|  | ═════════ | ═════════

4. | Tangible assets
|  | Land and | Plant and | Fixtures, | Total
|  | buildings | machinery | fittings and |
|  | freehold |  | equipment |
|  | £ | £ | £ | £
| Cost
| At 1 February 2024 | 40,048 | 234,305 | 23,741 | 298,094
| Additions | - | 16,600 | 1,749 | 18,349
| Disposals | (2,615) | (41,933) | (1,882) | (46,430)
|  | ───────── | ───────── | ───────── | ─────────
| At 31 January 2025 | 37,433 | 208,972 | 23,608 | 270,013
|  | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 1 February 2024 | 26,118 | 156,739 | 16,215 | 199,072
| Charge for the financial year | 2,617 | 7,296 | 3,887 | 13,800
| On disposals | (1,772) | (23,496) | (1,680) | (26,948)
|  | ───────── | ───────── | ───────── | ─────────
| At 31 January 2025 | 26,963 | 140,539 | 18,422 | 185,924
|  | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 January 2025 | 10,470 | 68,433 | 5,186 | 84,089
|  | ═════════ | ═════════ | ═════════ | ═════════
| At 31 January 2024 | 13,930 | 77,566 | 7,526 | 99,022
|  | ═════════ | ═════════ | ═════════ | ═════════

5. | Stocks | 2025 | 2024
|  | £ | £
| Work in progress | 1,113,615 | 466,848
| Finished goods and goods for resale | 25,292 | 25,138
|  | ───────── | ─────────
|  | 1,138,907 | 491,986
|  | ═════════ | ═════════
| The replacement cost of stock did not differ significantly from the figures shown.

6. | Debtors | 2025 | 2024
|  | £ | £
| Trade debtors | 2,776,113 | 2,927,203
| Taxation and social security costs (Note 9) | 32,630 | 24,145
| Prepayments and accrued income | 69,222 | 34,111
|  | ───────── | ─────────
|  | 2,877,965 | 2,985,459
|  | ═════════ | ═════════

7. | Creditors | 2025 | 2024
| Amounts falling due within one year | £ | £
| Trade creditors | 1,183,676 | 849,626
| Taxation and social security costs (Note 9) | 622,669 | 788,804
| Directors' current accounts | 55,317 | 235,217
| Accruals:
| Pension accrual | 5,125 | 4,633
| Other accruals | 52,089 | 6,000
|  | ───────── | ─────────
|  | 1,918,876 | 1,884,280
|  | ═════════ | ═════════

8. | Creditors | 2025 | 2024
| Amounts falling due after more than one year | £ | £
| Directors' loan accounts | 500,000 | 1,000,000
|  | ═════════ | ═════════

9. | Taxation and social security | 2025 | 2024
|  | £ | £
| Debtors:
| VAT | 19,032 | 6,444
| Withholding tax | 13,598 | 17,701
|  | ───────── | ─────────
|  | 32,630 | 24,145
|  | ═════════ | ═════════
| Creditors:
| VAT | 337,387 | 529,159
| Corporation tax | 222,673 | 198,796
| PAYE / NI | 36,405 | 35,845
| CIS Creditor | 26,204 | 25,004
|  | ───────── | ─────────
|  | 622,669 | 788,804
|  | ═════════ | ═════════

10. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Losses | Total | Total
|  | allowances |  |  |
|  |  |  | 2025 | 2024
|  | £ | £ | £ | £
| At financial year start | 24,755 | 1 | 24,756 | (87,948)
| Charged to profit and loss | (3,733) | - | (3,733) | 112,704
|  | ───────── | ───────── | ───────── | ─────────
| At financial year end | 21,022 | 1 | 21,023 | 24,756
|  | ═════════ | ═════════ | ═════════ | ═════════

11. | Pension commitments
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Unpaid contributions outstanding at 31 January 2025 amounted to £5,125 (2024: £4,632). This is included in Creditors: amounts falling due within one year.