REGISTERED NUMBER: NI049684 (Northern Ireland)

FLEET MAINTENANCE IRELAND LTD

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mark McAlinden

Paul McAlinden

REGISTERED OFFICE:

Annesborough Industrial Estate

Lurgan

Armagh

BT67 9JD

REGISTERED NUMBER:

NI049684 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Tangible assets

5

3,165,817

2,662,994

Investment property

6

181,092

181,092

3,346,909

2,844,086

CURRENT ASSETS

Stocks

619,222

757,551

Receivables: amounts falling due within one year

7

1,721,987

1,977,522

Cash at bank

143,273

80,647

2,484,482

2,815,720

PAYABLES

Amounts falling due within one year

8

(2,342,628

)

(2,290,023

)

NET CURRENT ASSETS

141,854

525,697

TOTAL ASSETS LESS CURRENT LIABILITIES

3,488,763

3,369,783

PAYABLES

Amounts falling due after more than one year

9

(1,337,579

)

(1,304,271

)

PROVISIONS FOR LIABILITIES

(189,503

)

(189,503

)

NET ASSETS

1,961,681

1,876,009

CAPITAL AND RESERVES

Called up share capital

10

30,000

300,002

Revaluation reserve

11

290,823

59,837

Retained earnings

1,640,858

1,516,170

SHAREHOLDERS' FUNDS

1,961,681

1,876,009

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 18 December 2025 and were signed on its behalf by:

Mark McAlinden - Director

Paul McAlinden - Director

1.	STATUTORY INFORMATION

Fleet Maintenance Ireland Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

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

Property, plant and equipment

Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Buildings

2% straight line

Plant and machinery

20 - 25% reducing balance

Fixtures and fittings

15 - 30% reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

A revaluation policy is in place whereby property, plant and equipment are revalued to equate to open market value. Revaluations will be made with sufficient regularity to ensure the carrying amount does not materially differ from that which would be determined to be fair value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Inventories

Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories 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.

Taxation and deferred 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new

ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2024 - 38 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST OR VALUATION

At 1 April 2024

1,831,630

1,711,854

66,525

3,610,009

Additions

238,548

277,893

5,756

522,197

Disposals

-

(130,563

)

-

(130,563

)

Revaluations

54,820

-

-

54,820

At 31 March 2025

2,124,998

1,859,184

72,281

4,056,463

DEPRECIATION

At 1 April 2024

176,166

731,304

39,545

947,015

Charge for year

-

211,257

8,035

219,292

Eliminated on disposal

-

(99,495

)

-

(99,495

)

Revaluation adjustments

(176,166

)

-

-

(176,166

)

At 31 March 2025

-

843,066

47,580

890,646

NET BOOK VALUE

At 31 March 2025

2,124,998

1,016,118

24,701

3,165,817

At 31 March 2024

1,655,464

980,550

26,980

2,662,994

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

Valuation in 2025

2,124,998

1,859,184

72,281

4,056,463

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

181,092

NET BOOK VALUE

At 31 March 2025

181,092

At 31 March 2024

181,092

7.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade receivables

1,597,216

1,651,205

Other receivables

91,037

96,852

Directors' current accounts

-

200,898

Prepayments and accrued income

33,734

28,567

1,721,987

1,977,522

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

615,039

588,894

Hire purchase contracts

128,491

156,856

Trade payables

1,252,448

1,187,498

Tax

15,227

-

Social security and other taxes

34,045

56,105

Pension Payable

2,370

5,559

VAT

94,064

104,158

Other payables

5,632

4,447

Directors' current accounts

71,067

-

Accruals and deferred income

124,245

186,506

2,342,628

2,290,023

Bank loans and company overdrafts are secured by a fixed charge over book debts and legal mortgage on the company's developed land and buildings.

9.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2025

2024

£

£

Other loans - 1-2 years

65,555

101,843

Other loans - 2-5 years

194,630

195,408

Other loans more 5 years

instal

639,073

590,675

Hire purchase contracts

438,321

416,345

1,337,579

1,304,271

Amounts falling due in more than five years:

Repayable by instalments

Other loans more 5 years

instal

639,073

590,675

639,073

590,675

The hire purchase liabilities are secured upon the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

300,002

Ordinary

1

30,000

300,002

11.

RESERVES

Revaluation

reserve

£

At 1 April 2024

59,837

No description

230,986

At 31 March 2025

290,823

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end an amount of £71,067 was owed to the directors from the company (2024: £200,898 owed to the company from the directors). The loan is subject to interest, is unsecured and repayable on demand.