McCloskey Equipment Limited

	Page
Strategic Report	1
Director's Report	2
Independent Auditor's Report	3—5
Income Statement	6
Statement of Comprehensive Income	7
Statement of Financial Position	8
Statement of Changes in Equity	9
Statement of Cash Flows	10
Notes to the Statement of Cash Flows	11
Notes to the Financial Statements	12—17

The director presents his strategic report for the year ended 31 March 2025.

Principal Activity

The company's principal activity is the supply of specialised plant in the UK.

Review of the Business

The director considers the results for the financial year and the position of the company at the financial year end to be satisfactory. Turnover is in line with expectations as is Profit before tax at £20,503. The company continues to be controlled by Mr Noel McCloskey, the only shareholder and his vision drives the company forward. The company will continue to seek every opportunity to increase profits.

Principal Risks and Uncertainties

Performance in the sector is affected by general economic conditions. The board carries out regular strategic reviews including assessments of market trends, forecasts and customer behaviour.

Future Developments

The external commercial environment is expected to remain uncertain throughout 2025 and 2026, the company will continue to seek opportunities that marry with the vision of its managing director, Noel McCloskey.

Financial Risk Management

The company's operations expose it to a variety of financial risks that include price risk, foriegn exchange risk, credit risk, liquidity risk ans interest rate risk. The company has in place a risk management programme that seeks to limit the adverse effects on the financial performance of the company by monitoiring the levels of debt finance and the related costs.

On behalf of the board

Mr Noel McCloskey

Director

18/12/2025

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McCloskey Equipment Limited

Company No. 06153069

Director's Report For The Year Ended 31 March 2025

Director's Report

The director presents his report and the financial statements for the year ended 31 March 2025.

Directors

The director who held office during the year were as follows:

Mr Noel McCloskey

Matters covered in the Strategic Report

Disclosures required under s416(4) of the Companies Act 2006 are commented upon in the Strategic Report as the director consider them to be of strategic importance to the business.

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Mooney Matthews Ltd, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the Annual General Meeting.

On behalf of the board

Mr Noel McCloskey

Director

18/12/2025

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Independent Auditor's Report

to the Members of

McCloskey Equipment Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of McCloskey Equipment Limited for the year ended 31 March 2025 which comprise the Income Statement, Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

McCloskey Equipment Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

• Conclude on the appropriateness of the directors use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

McCloskey Equipment Limited

Mark Matthews (Senior Statutory Auditor)

for and on behalf of Mooney Matthews Ltd , Statutory Auditor

18/12/2025

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McCloskey Equipment Limited

Income Statement

For The Year Ended 31 March 2025

Income Statement

		2025	2024
	Notes	£	£
TURNOVER	3	16,316,886	21,044,202
Cost of sales		(14,934,149 )	(17,746,758 )

GROSS PROFIT		1,382,737	3,297,444

Administrative expenses		(1,640,209 )	(2,192,775 )

OPERATING (LOSS)/PROFIT	4	(257,472 )	1,104,669
Profit on disposal of fixed assets		975,048	-
Interest payable and similar charges	9	(661,318 )	(855,137 )

PROFIT BEFORE TAXATION		56,258	249,532
Tax on Profit	10	26,740	(44,324 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		82,998	205,208

The notes on pages 11 to 17 form part of these financial statements.

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McCloskey Equipment Limited

Statement of Comprehensive Income

For The Year Ended 31 March 2025

Statement of Comprehensive Income

	2025	2024
	£	£
PROFIT FOR THE FINANCIAL YEAR	82,998	205,208
OTHER COMPREHENSIVE INCOME FOR THE YEAR	-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR	82,998	205,208

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McCloskey Equipment Limited

Statement of Financial Position

As At 31 March 2025

Statement of Financial Position

Registered number: 06153069

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	11		68,316		163,128

			68,316		163,128
CURRENT ASSETS
Stocks	12	1,546,976		16,031,441
Debtors	13	5,114,756		2,513,699
Cash at bank and in hand		536,620		8,735

		7,198,352		18,553,875
Creditors: Amounts Falling Due Within One Year	14	(2,783,059 )		(13,777,232 )

NET CURRENT ASSETS (LIABILITIES)			4,415,293		4,776,643

TOTAL ASSETS LESS CURRENT LIABILITIES			4,483,609		4,939,771

Creditors: Amounts Falling Due After More Than One Year	15		(31,290 )		(570,450 )

NET ASSETS			4,452,319		4,369,321

CAPITAL AND RESERVES
Called up share capital	18		1		1
Income Statement			4,452,318		4,369,320

SHAREHOLDERS' FUNDS			4,452,319		4,369,321

On behalf of the board

Mr Noel McCloskey

Director

18/12/2025

The notes on pages 11 to 17 form part of these financial statements.

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McCloskey Equipment Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Income Statement	Total
	£	£	£
As at 1 April 2023	1	4,289,112	4,289,113
Profit for the year and total comprehensive income	-	205,208	205,208

Dividends paid	-	(125,000)	(125,000)

As at 31 March 2024 and 1 April 2024	1	4,369,320	4,369,321


Profit for the year and total comprehensive income	-	82,998	82,998

As at 31 March 2025	1	4,452,318	4,452,319

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McCloskey Equipment Limited

Statement of Cash Flows

For The Year Ended 31 March 2025

Statement of Cash Flows

		2025	2024
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	7,427,198	218,545
Interest paid		(661,318 )	(855,137 )
Tax paid		(20,430 )	(36,941 )

Net cash generated from/(used in) operating activities		6,745,450	(673,533 )

Cash flows from investing activities
Proceeds from disposal of intangible assets		1,000,000	-
Purchase of tangible assets		(69,034 )	(208,243 )
Proceeds from disposal of tangible assets		138,894	-

Net cash generated from/(used in) investing activities		1,069,860	(208,243 )

Cash flows from financing activities
Equity dividends paid		-	(125,000 )
Repayment of bank borrowings		(333,053 )	(338,541 )
Repayment of finance leases		(8,789,913 )	472,273
Amount introduced by directors		2,168,300	-

Net cash (used in)/generated from financing activities		(6,954,666 )	8,732



Increase/(decrease) in cash and cash equivalents		860,644	(873,044 )
Cash and cash equivalents at beginning of year	2	(324,024 )	549,020

Cash and cash equivalents at end of year	2	536,620	(324,024 )

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McCloskey Equipment Limited

Notes to the Statement of Cash Flows

For The Year Ended 31 March 2025

Notes to the Statement of Cash Flows

1. Reconciliation of profit for the financial year to cash generated from operations

	2025	2024
	£	£
Profit for the financial year	82,998	205,208
Adjustments for:
Tax on profit	(26,740 )	44,324
Interest expense	661,318	855,137
Depreciation of tangible assets	-	52,377
Profit on disposal of intangible assets	(1,000,000)	-
Loss on disposal of tangible assets	24,952	-
Movements in working capital:
Decrease/(increase) in stocks	14,484,465	(1,150,327 )
(Increase)/decrease in trade and other debtors	(2,649,800 )	221,679
Decrease in trade and other creditors	(4,149,995 )	(9,853 )

Net cash generated from operations	7,427,198	218,545

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2025	2024
	£	£
Cash at bank and in hand	536,620	8,735
Overdraft facilities repayable on demand	-	(332,759 )

Cash and cash equivalents as stated in the Statement of Cash Flows	536,620	(324,024)

3. Analysis of changes in net (debt)/funds

	As at 1 April 2024	Cash flows	As at 31 March 2025
	£	£	£
Cash at bank and in hand	8,735	527,885	536,620
Overdraft facilities repayable on demand	(332,759)	332,759	-

Cash and cash equivalents	(324,024 )	860,644	536,620
Finance leases	(8,869,633)	8,789,913	(79,720)
Debts falling due within one year	(312,500 )	307,011	(5,489 )
Debts falling due after more than one year	(26,042)	26,042	-

	(9,532,199)	9,983,610	451,411

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McCloskey Equipment Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

McCloskey Equipment Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06153069 . The registered office is 15 Queens Acre, Windsor, Berkshire, SL4 2BE.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% Straight line
Motor Vehicles	25% Straight line
Fixtures & Fittings	25% Straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the income statement. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the income statement.

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McCloskey Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.7. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Turnover

The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

4. Operating (Loss)/profit

The operating (loss)/profit is stated after charging:

	2025	2024
	£	£
Bad debts	261,410	13,133
Depreciation of tangible fixed assets	-	52,377

5. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2025	2024
	£	£
Audit Services
Audit of the company's financial statements	18,000	18,000

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McCloskey Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2025	2024
	£	£
Wages and salaries	689,978	1,144,297
Social security costs	71,371	19,001
Other pension costs	65,161	65,744

	826,510	1,229,042

7. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2025	2024
Office and administration	2	2
Sales, marketing and distribution	9	9
Manufacturing	10	10

	21	21

8. Director's remuneration

	2025	2024
	£	£
Emoluments	40,453	41,150
Company contributions to money purchase pension schemes	60,000	63,334

	100,453	104,484

9. Interest Payable and Similar Charges

	2025	2024
	£	£
Bank loans and overdrafts	41,137	63,212
Finance charges payable under finance leases and hire purchase contracts	618,666	791,925
Foreign exchange charges	1,515	-

	661,318	855,137

10. Tax on Profit

	Tax Rate		2025	2024
The tax (credit)/charge on the profit for the year was as follows:
	2025	2024	£	£
Current tax
UK Corporation Tax	-	25.0%	-	23,834
Prior period adjustment			(26,740 )	20,490

			(26,740 )	44,324


Total tax charge for the period			(26,740 )	44,324

...CONTINUED

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McCloskey Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

	2025	2024
The actual (credit)/charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
	£	£
Profit before tax	56,258	249,532

Tax on profit at 25% (UK standard rate)	-	25,737
Capital allowances	-	(1,903 )
Prior period adjustment	(26,740 )	20,490

Total tax charge for the period	(26,740)	44,324

11. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2024	606,857	132,224	21,558	760,639
Additions	1,758	67,276	-	69,034
Disposals	(423,734 )	-	-	(423,734 )

As at 31 March 2025	184,881	199,500	21,558	405,939

Depreciation
As at 1 April 2024	443,729	132,224	21,558	597,511
Disposals	(259,888 )	-	-	(259,888 )

As at 31 March 2025	183,841	132,224	21,558	337,623

Net Book Value
As at 31 March 2025	1,040	67,276	-	68,316

As at 1 April 2024	163,128	-	-	163,128

12. Stocks

	2025	2024
	£	£
Stock	1,546,976	16,031,441

Stock with a Net Book value of £11,888,134 had been pledged as security for liabilities of the company in 2024. As of the 2025 year end, there is no stock pledged for finance facilities by the company.

13. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	72,090	1,849,603
Other debtors	-	350,000
VAT	26,215	178,542
Director's loan account	-	48,743
Amounts owed by associates	5,000,000	70,360

	5,098,305	2,497,248

...CONTINUED

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McCloskey Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Due after more than one year
Corporation tax recoverable assets	16,451	16,451

	5,114,756	2,513,699

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	48,430	8,325,225
Trade creditors	543,593	4,430,196
Bank loans and overdrafts	5,489	645,259
Amounts owed to participating interests	-	166,158
Other creditors	2,188,160	87,988
Corporation tax	(23,336 )	23,834
Taxation and social security	2,693	76,542
Accruals and deferred income	18,030	22,030

	2,783,059	13,777,232

15. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	31,290	544,408
Bank loans	-	26,042

	31,290	570,450

16. Loans

An analysis of the maturity of loans is given below:

	2025	2024
	£	£
Amounts falling due within one year or on demand:
Bank loans	5,489	312,500

	2025	2024
	£	£
Amounts falling due between one and five years:
Bank loans	-	26,042

17. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	48,430	8,325,225
Later than one year and not later than five years	31,290	544,408

	79,720	8,869,633

	79,720	8,869,633

At the year end the following third parties hold security over assets held by the company:-

JCB Finance - Specific stock items amounting to the value of their exposure.

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McCloskey Equipment Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

18. Share Capital

	2025	2024
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

19. 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.

During the year the charge to the income statement in respect of defined contribution schemes was £65,161 (2024: £65,744).

At the statement of financial position date contributions of £NIL were due to the fund and are included in creditors.

20. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2024	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2025
	£	£	£	£	£
Mr Noel McCloskey	48,743	-	48,743	-	-

The above loan is unsecured, interest free and repayable on demand.

21. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	-	125,000

22. Post Balance Sheet Events

There are no events to report after the year which have a significant impact on the financial results for the year.

23. Controlling Parties

The company's ultimate controlling party is Noel McCloskey by virtue of their interest in the share capital of the company.

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