KMC Transport (Ireland) Limited iXBRL

KMC Transport (Ireland) Limited

Abridged Unaudited Financial Statements

for the financial year ended 31 May 2025

KMC Transport (Ireland) Limited

Company Registration Number: NI624627

ABRIDGED BALANCE SHEET

as at 31 May 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

324,129

351,692

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Current Assets

Debtors

313,726

245,026

Cash at bank and in hand

38,280

58,139

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352,006

303,165

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Creditors: amounts falling due within one year

(445,606)

(371,121)

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Net Current Liabilities

(93,600)

(67,956)

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Total Assets less Current Liabilities

230,529

283,736

Creditors:

amounts falling due after more than one year

(29,630)

(91,861)

Provisions for liabilities

(81,032)

(66,821)

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Net Assets

119,867

125,054

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Capital and Reserves

Called up share capital

100

100

Retained earnings

119,767

124,954

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Shareholders' Funds

119,867

125,054

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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).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.

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

The director confirms 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 director acknowledges his 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 Director and authorised for issue on 13 November 2025



________________________________
Mr. Kevin McCreesh
Director

KMC Transport (Ireland) Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 May 2025

General Information

KMC Transport (Ireland) Limited is a private company limited by shares incorporated in Northern Ireland. The registered office of the company is 3 Donaldsons Road, Creggan, Crossmaglen, Newry, Co. Down, BT35 9DS, Northern Ireland which is also the principal place of business of the company.

The financial statements cover the individual entity for the year ended 31 May 2025.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

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 May 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.

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:

Plant and machinery

15% Reducing balance

Fixtures, fittings and equipment

15% Reducing balance

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.

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.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

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.

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 director, during the financial year was;

		2025	2024
		Number	Number

	Administrative staff	2	2
	Direct staff	16	16
	Director	1	1
		─────────	─────────
		19	19
		═════════	═════════


4.	Tangible assets
		Plant and	Fixtures,	Total
		machinery	fittings and
			equipment
		£	£	£
	Cost
	At 1 June 2024	635,715	2,534	638,249
	Additions	28,008	-	28,008
		─────────	─────────	─────────
	At 31 May 2025	663,723	2,534	666,257
		─────────	─────────	─────────
	Depreciation
	At 1 June 2024	285,126	1,431	286,557
	Charge for the financial year	55,405	166	55,571
		─────────	─────────	─────────
	At 31 May 2025	340,531	1,597	342,128
		─────────	─────────	─────────
	Net book value
	At 31 May 2025	323,192	937	324,129
		═════════	═════════	═════════
	At 31 May 2024	350,589	1,103	351,692
		═════════	═════════	═════════

Secured creditors

The company has given security on debts totalling £212,330 in the financial year ended 31 May 2025 (2024: £138,442).

The security is by way of a fixed and floating charge over company assets.

Pension commitments

The company operates a defined contribution pension scheme for the benefit of the employees. At the balance sheet date 31 May 2025 there was £339 due to the fund (2024: £576), which is included in Creditors:amounts falling due within one year.