McGettigan Homes Ltd 31/03/2025 iXBRL

Company registration number: NI638055

McGettigan Homes Ltd

Unaudited filleted financial statements

31 March 2025

McGettigan Homes Ltd

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

McGettigan Homes Ltd

Directors and other information


	Director	Mr Paul McGettigan


	Company number	NI638055


	Registered office	5b Church Street
		Strabane
		Co Tyrone
		N. Ireland
		BT82 8BS


	Business address	5b Church Street
		Strabane
		Co Tyrone
		N. Ireland
		BT82 8BS


	Accountants	McCambridge Duffy & Co
		101 Spencer Rd
		Derry
		N. Ireland
		BT47 6AE




	Bankers	Santander UK Plc
		2 Triton Square
		Regent's place
		London
		NW1 3AN

McGettigan Homes Ltd

Report to the director on the preparation of the

unaudited statutory financial statements of McGettigan Homes Ltd

Year ended 31 March 2025

As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 March 2025 which comprise the statement of financial position and related notes.

You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

McCambridge Duffy & Co

Chartered Accountants & Registered Auditors

101 Spencer Rd

Derry

N. Ireland

BT47 6AE

23 December 2025

McGettigan Homes Ltd

Statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	412,517		291,182
Investments	6	100		100
		_______		_______
			412,617		291,282

Current assets
Stocks		1,260,450		1,586,450
Debtors	7	2,232,549		1,488,640
Cash at bank and in hand		120,873		695,366
		_______		_______
		3,613,872		3,770,456
Creditors: amounts falling due
within one year	8	( 980,808)		( 1,260,461)
		_______		_______
Net current assets			2,633,064		2,509,995
			_______		_______
Total assets less current liabilities			3,045,681		2,801,277

Creditors: amounts falling due
after more than one year	9		( 104,794)		( 96,504)
			_______		_______
Net assets			2,940,887		2,704,773
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			2,940,787		2,704,673
			_______		_______
Shareholders funds			2,940,887		2,704,773
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr Paul McGettigan

Director

McGettigan Homes Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 5b Church Street, Strabane, Co Tyrone, N. Ireland, BT82 8BS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	15 %	straight line
Fittings fixtures and equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2024: 5 ).

5. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Total
	£	£	£
Cost
At 1 April 2024	462,586	3,508	466,094
Additions	198,970	3,631	202,601
Disposals	( 27,738)	-	( 27,738)
	_______	_______	_______
At 31 March 2025	633,818	7,139	640,957
	_______	_______	_______
Depreciation
At 1 April 2024	173,022	1,890	174,912
Charge for the year	71,834	787	72,621
Disposals	( 19,093)	-	( 19,093)
	_______	_______	_______
At 31 March 2025	225,763	2,677	228,440
	_______	_______	_______
Carrying amount
At 31 March 2025	408,055	4,462	412,517
	_______	_______	_______
At 31 March 2024	289,564	1,618	291,182
	_______	_______	_______

6. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 April 2024 and 31 March 2025	100	100
	_______	_______
Impairment
At 1 April 2024 and 31 March 2025	-	-
	_______	_______
Carrying amount
At 31 March 2025	100	100
	_______	_______
At 31 March 2024	100	100
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	72,043	476,232
Other debtors	2,160,506	1,012,408
	_______	_______
	2,232,549	1,488,640
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	10,000	10,000
Trade creditors	286,428	637,067
Corporation tax	39,270	106,485
Social security and other taxes	26,021	12,693
Other creditors	619,089	494,216
	_______	_______
	980,808	1,260,461
	_______	_______

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	4,167	14,167
Other creditors	100,627	82,337
	_______	_______
	104,794	96,504
	_______	_______

10. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr Paul McGettigan	( 18,566)	1,377,064	1,358,498
		_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Balance o/standing
		£	£	£
	Mr Paul McGettigan	( 33,540)	14,974	( 18,566)
		_______	_______	_______

The directors loan was repaid within 9 months of the year end.

11. Controlling party

The company is controlled by its director Mr Paul McGettigan .