Registration number: NI644054

Martin McGrath Contracts Ltd

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 8

Martin McGrath Contracts Ltd

Company Information

Director

Mr Martin McGrath

Registered office

42B Carn Road Killeter Castlederg Tyrone BT81 7UR

Bankers

Bank of Ireland Omagh 25 Campsie Road Omagh Tyrone BT78 0AE

Accountants

M P Kearney & Co Chartered Certified Accountants 1 Tamlaght Road Omagh Tyrone BT78 5AW

Martin McGrath Contracts Ltd

(Registration number: NI644054)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	146,527	63,939
Current assets
Stocks	5	-	36,475
Debtors	6	27,614	4,964
Cash at bank and in hand		60,265	101,502
		87,879	142,941
Creditors: Amounts falling due within one year		(113,650)	(118,296)
Net current (liabilities)/assets		(25,771)	24,645
Total assets less current liabilities		120,756	88,584
Creditors: Amounts falling due after more than one year		(54,750)	(10,735)
Provisions for liabilities		(25,000)	(10,000)
Accruals and deferred income		(4,945)	(2,197)
Net assets		36,061	65,652
Capital and reserves
Called up share capital	7	1	1
Retained earnings		36,060	65,651
Shareholders' funds		36,061	65,652

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 December 2025
 

Martin McGrath Contracts Ltd

(Registration number: NI644054)
Abridged Balance Sheet as at 31 March 2025

......................................... Mr Martin McGrath Director

Martin McGrath Contracts Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in North of Ireland.

The address of its registered office is:
42B Carn Road
Killeter
Castlederg
Tyrone
BT81 7UR

The principal place of business is:
42B Carn Road
Killeter
Castlederg
Tyrone
BT81 7UR

These financial statements were authorised for issue by the director on 22 December 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 abridged 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 abridged 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.

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 expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Martin McGrath Contracts Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

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
Plant and Machinery	20% Reducing Balance
Motor Vehicles	20% Reducing Balance
Buildings	2% Straight Line

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.

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.

Martin McGrath Contracts Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

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 profit and loss account 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

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

Martin McGrath Contracts Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Plant and machinery £	Office equipment £	Motor vehicles  £
Cost or valuation
At 1 April 2024	13,161	99,922	185	25,629
Additions	-	129,785	-	-
Disposals	-	(50,000)	-	-
At 31 March 2025	13,161	179,707	185	25,629
Depreciation
At 1 April 2024	507	58,955	37	15,459
Charge for the year	263	19,270	30	2,034
Eliminated on disposal	-	(24,400)	-	-
At 31 March 2025	770	53,825	67	17,493
Carrying amount
At 31 March 2025	12,391	125,882	118	8,136
At 31 March 2024	12,654	40,967	148	10,170

	Total £
Cost or valuation
At 1 April 2024	138,897
Additions	129,785
Disposals	(50,000)
At 31 March 2025	218,682
Depreciation
At 1 April 2024	74,958
Charge for the year	21,597
Eliminated on disposal	(24,400)
At 31 March 2025	72,155
Carrying amount
At 31 March 2025	146,527
At 31 March 2024	63,939

Included within the net book value of land and buildings above is £12,391 (2024 - £12,654) in respect of freehold land and buildings.
 

Martin McGrath Contracts Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2025

5

Stocks

	2025 £	2024 £
Work in progress	-	36,475

6

Debtors

Debtors includes £Nil (2024 - £Nil) due after more than one year.

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	1	1	1	1

8

Dividends

Final dividends paid

		2025 £		2024 £
Final dividend of £Nil (2024 - £30,000.00) per each Ordinary Shares		-		30,000