145 false false false false true false false false false false false true false false false false true true true true 2024-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,395,017 218,988 400,000 400,000 75,615 86,394 162,009 xbrli:pure xbrli:shares iso4217:GBP NI029339 2024-04-01 2025-03-31 NI029339 2025-03-31 NI029339 2024-03-31 NI029339 2023-04-01 2024-03-31 NI029339 2024-03-31 NI029339 2023-03-31 NI029339 core:NetGoodwill 2024-04-01 2025-03-31 NI029339 core:LandBuildings 2024-04-01 2025-03-31 NI029339 core:FurnitureFittings 2024-04-01 2025-03-31 NI029339 core:MotorVehicles 2024-04-01 2025-03-31 NI029339 bus:RegisteredOffice 2024-04-01 2025-03-31 NI029339 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 NI029339 bus:LeadAgentIfApplicable 2024-04-01 2025-03-31 NI029339 bus:Director1 2024-04-01 2025-03-31 NI029339 bus:Director2 2024-04-01 2025-03-31 NI029339 bus:Director3 2024-04-01 2025-03-31 NI029339 bus:CompanySecretary1 2024-04-01 2025-03-31 NI029339 core:WithinOneYear 2025-03-31 NI029339 core:WithinOneYear 2024-03-31 NI029339 core:NetGoodwill 2025-03-31 NI029339 core:LandBuildings 2024-03-31 NI029339 core:LandBuildings 2025-03-31 NI029339 core:PlantMachinery 2024-03-31 NI029339 core:PlantMachinery 2025-03-31 NI029339 core:FurnitureFittings 2024-03-31 NI029339 core:FurnitureFittings 2025-03-31 NI029339 core:MotorVehicles 2024-03-31 NI029339 core:MotorVehicles 2025-03-31 NI029339 core:DeferredTaxation 2024-04-01 2025-03-31 NI029339 core:AfterOneYear 2025-03-31 NI029339 core:AfterOneYear 2024-03-31 NI029339 core:UKTax 2024-04-01 2025-03-31 NI029339 core:UKTax 2023-04-01 2024-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 NI029339 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2025-03-31 NI029339 core:RetainedEarningsAccumulatedLosses 2024-03-31 NI029339 core:ShareCapital 2025-03-31 NI029339 core:ShareCapital 2024-03-31 NI029339 core:BetweenOneFiveYears 2025-03-31 NI029339 core:BetweenOneFiveYears 2024-03-31 NI029339 1 2024-04-01 2025-03-31 NI029339 1 2023-04-01 2024-03-31 NI029339 core:AcceleratedTaxDepreciationDeferredTax 2025-03-31 NI029339 core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 NI029339 core:LandBuildings 2024-03-31 NI029339 core:PlantMachinery 2024-03-31 NI029339 core:FurnitureFittings 2024-03-31 NI029339 core:MotorVehicles 2024-03-31 NI029339 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2025-03-31 NI029339 core:LeasedAssetsHeldAsLessee core:MotorVehicles 2024-03-31 NI029339 core:DeferredTaxation 2024-03-31 NI029339 core:DeferredTaxation 2025-03-31 NI029339 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 NI029339 bus:FRS102 2024-04-01 2025-03-31 NI029339 bus:Audited 2024-04-01 2025-03-31 NI029339 bus:LargeCompaniesRegimeForAccounts 2024-04-01 2025-03-31 NI029339 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI029339 bus:FullAccounts 2024-04-01 2025-03-31 NI029339 bus:OrdinaryShareClass1 2025-03-31 NI029339 bus:OrdinaryShareClass1 2024-03-31 NI029339 core:OtherReservesSubtotal 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: NI029339

Antrim Electrical & Mechanical Engineers Limited

Financial Statements

31 March 2025

Antrim Electrical & Mechanical Engineers Limited

Financial Statements

Year ended 31 March 2025

Contents | Pages

Officers and professional advisers | 1

Strategic report | 2 to 4

Directors' report | 5 to 9

Independent auditor's report to the member | 10 to 14

Statement of income and retained earnings | 15

Statement of financial position | 16

Notes to the financial statements | 17 to 27

Antrim Electrical & Mechanical Engineers Limited

Officers and Professional Advisers

The board of directors | Mr W Mowbray
| Mr C Gamble
| Mr J Johnston

Company secretary | Mr J Johnston

Registered office | 208 City Business Park
| Dunmurry
| BT17 9HY

Auditor | Maneely Mc Cann Audit Limited
| Chartered Accountants & Statutory Auditors
| Aisling House
| 50 Stranmillis Embankment
| Belfast
| BT9 5FL

Bankers | Allied Irish Bank
| 35 University Road
| Belfast
| BT7 1ND

Solicitors | Rafferty Mc Grath & Co Solicitors
| 1st Floor, 352 Antrim Road
| Belfast
| BT15 5AE

Antrim Electrical & Mechanical Engineers Limited

Strategic Report

Year ended 31 March 2025
Principal activities and business review
The principal activity of the company during the year continued to be the provision of electrical installation and refurbishment services. Turnover has decreased on the previous year and is in line with directors expectations. The company recognised a gross profit for the year of £7,674,406 (2024: £5,406,089). Given the nature of the company's business, the directors are of the opinion that analysis using KPIs is not necessary for an understanding of the development, performance or position of the business.
Future developments
The external commercial environment in which the company operates is expected to remain competitive. The directors will continue to seek opportunities to increase profitable turnover, and will focus on managing and mitigating risks to ensure the company is well placed to retain its market position.
Principal risks and uncertainties
The management of the business and execution of the company's strategies are subject to a number of risks. The group is well placed to deal with any uncertainties that may arise in the current economic downturn and in response to this, the directors are involved in prudent business planning and working closely with the company's key stakeholders. The key business risks and uncertainties affecting the company are considered to be industry competition and key employee retention.
Financial risk management
The company's operations expose it to a variety of financial risks that include credit risk, liquidity risk and 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 monitoring levels of debt finance and the related finance costs. Given the size of the company, the directors have not delegated the responsibility of monitoring financial risk management to a sub committee of the board. The policies set by the board of directors are implemented by the company's finance department. The main risks are summarised below: Foreign exchange risk While the greater part of the company's revenues and expenses are denominated in sterling, the company is exposed to some foreign exchange risk in the normal course of business. While the company has not used financial instruments to hedge foreign exchange exposure, this position is under constant review. Credit risk The company has implemented policies that require appropriate credit checks on potential customers before sales are made. The amount of exposure to individual customers is subject to a limit, which is reassessed regularly by the board. Liquidity risk The company actively maintains a mixture of long-term and short-term debt finance that is designed to ensure that the group has sufficient funds for operations and planned expansions. Interest rate risk The company has interest bearing liabilities and has a policy of maintaining debt at competitive rates to ensure a reasonable degree of certainty over future interest cash flows. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.
Section 172(1) Statement Under section 172 of the Companies Act 2006 the directors are required to act in a way which promotes the long-term success of the company having regard for the interests of the company's stakeholders. In discharging their section 172 responsibilities the directors consider, amongst other matters, the: - Likely consequences of any decision in the long term - Interest in the company's employees - Need to foster the company's business relationships with suppliers, customers, and others - Impact of the company's operations on the community and the environment - Desirability of the company maintaining a reputation for high standards of business conduct - Need to act fairly as between members of the company The board has long term strategic plans and monitors progress throughout the year using detailed reports on operating performance and regular management accounts. Key areas of focus in the decision-making process are delivering customer service, investing in our people, developing our systems and maximising operational efficiency. The board regularly reviews how the company maintains positive relationships with all of its stakeholders including shareholders, employees, customers, suppliers and others. There are scheduled board meetings between the company's board, key management personnel and other members of the senior management team to deliver the strategic objectives of the company and maximise its shareholders' return. We believe our staff are our most important asset and their safety and wellbeing is one of our main considerations in the way we approach our business. We strive to create a culture where everyone feels valued and motivated to contribute to the company's goals. There are stringent policies and procedures in place (such as Bullying and Harassment policies and the Grievance procedure) to ensure that all employees feel respected and valued. Our online training platform ensures all staff are fully trained and offers access to extra training on an ongoing basis. Caring for our customers is fundamental to our success. Through staff training we endeavour to provide a high standard of service and offer our customers specific advice regarding our range of products. The directors recognise the key role suppliers play in ensuring the company delivers quality products and service to our customers. We aim to build good relationships with our suppliers and treat them fairly and pay them within agreed timescales, holding ourselves to high standards of business conduct. We are committed to acting professional, fairly and with integrity in all our business dealings and relationships. The Board of Directors always aim to act responsibly and in good faith to maintain our good reputation for high standards of business conduct. We always consider the long term consequences of our decisions and believe that our good reputation is the basis for our continued profitability for the benefit of all our stake holders.
This report was approved by the board of directors on 5 January 2026 and signed on behalf of the board by:

Mr J Johnston
Director

Registered office:
208 City Business Park
Dunmurry
BT17 9HY

Antrim Electrical & Mechanical Engineers Limited

Directors' Report

Year ended 31 March 2025
The directors present their report and the financial statements of the company for the year ended 31 March 2025 .
Directors
The directors who served the company during the year were as follows:

Mr W Mowbray |
Mr C Gamble |
Mr J Johnston |

Dividends
Particulars of recommended dividends are detailed in note 13 to the financial statements.
Greenhouse gas emissions and energy consumption

| Unit | 2025 | 2024
Total energy consumption | kWh | 2,607,470 | 2,549,495
|  | ------------ | ------------

Methodologies for energy and emissions calculations
Quantification and reporting methodology The Group has taken guidance from the UK Government Environmental Reporting Guidelines (March 2019), the GHG Reporting Protocol - Corporate Standard, and from the UK Government GHG Conversion Factors for Company Reporting document for calculating carbon emissions. Energy usage information (gas and electricity) has been obtained directly from energy suppliers, HH/AMR data, as well as landlord invoices where available. Transport was provided for all vehicles. CO2e emissions were calculated using the appropriate emission factors from the UK Government GHG conversion information. Intensity measurement Intensity ratios compare emissions data with an appropriate business metric of financial indicator. The Group has chosen to use tonnes of CO2e/Revenue (GBPm) for its Intensity Ratio. As can be seen below, the Intensity Ratio in 2025 has increased in comparison to the 2024 ratio driven by higher energy consumption in the current year. Energy efficiency action There were no energy efficiency actions completed during the current financial year. The directors are considering energy efficient projects for coming years to ensure that the Group is operating in a climate conscious manner.
Principal measures taken to increase energy efficiency
Usage Fossil Fuels

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 12,664 | 14,860
| Carbon emissions (Tonnes of CO2e) | 2 | 3
| Intensity ratio emissions per £1m turnover | 1 | 1

Transport

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 1,436,182 | 1,382,497
| Carbon emissions (Tonnes of CO2e) | 404 | 323
| Intensity ratio emissions per £1m turnover | 10 | 6

Electricity

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 103,210 | 96,376
| Carbon emissions (Tonnes of CO2e) | 18 | 20
| Intensity ratio emissions per £1m turnover | 1 | 1

F + E Related

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 64 | 50
| Carbon emissions (Tonnes of CO2e) | 202 | 159
| Intensity ratio emissions per £1m turnover | 5 | 3

Waste

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 181 | 149
| Carbon emissions (Tonnes of CO2e) | 2 | 1
| Intensity ratio emissions per £1m turnover | 1 | 1

Travel

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 171,666 | 184,604
| Carbon emissions (Tonnes of CO2e) | 48 | 53
| Intensity ratio emissions per £1m turnover | 1 | 1

Commuting

|  | 2025 | 2024
|  | £ | £
| Energy consumption | 883,503 | 870,960
| Carbon emissions (Tonnes of CO2e) | 248 | 248
| Intensity ratio emissions per £1m turnover | 6 | 5

Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors 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 the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards 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 directors are 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. They are 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. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 5 January 2026 and signed on behalf of the board by:

Mr J Johnston
Director

Registered office:
208 City Business Park
Dunmurry
BT17 9HY

Antrim Electrical & Mechanical Engineers Limited

Independent Auditor's Report to the Member of Antrim Electrical & Mechanical Engineers Limited

Year ended 31 March 2025
Opinion
We have audited the financial statements of Antrim Electrical & Mechanical Engineers Limited (the 'company') for the year ended 31 March 2025 which comprise the statement of income and retained earnings, statement of financial position 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, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 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 for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 directors' 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 company's ability to continue as a going concern for a period of at least twelve 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 directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
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 directors' 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 and returns; or - certain disclosures of directors' 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 directors' responsibilities statement, the directors are 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 directors 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 directors are 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. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following: - the nature of the industry and sector, control environment and business performance including the design of the Group's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets; - results of our enquiries of management about their own identification and assessment of the risks of irregularities; - any matters we identified having obtained and reviewed the Group's documentation of their policies and procedures relating to: - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks that the Group operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006 and Taxation Legislation. Audit response to risks identified Our procedures to respond to risks identified included the following: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiring of management and external legal counsel concerning actual and potential litigation and claims; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in new making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - 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. Use of our report
This report is made solely to the company's member, 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 member those matters 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 member as a body, for our audit work, for this report, or for the opinions we have formed.

Cathal Maneely
(Senior Statutory Auditor)

For and on behalf of
Maneely Mc Cann Audit Limited
Chartered Accountants & Statutory Auditors
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL

5 January 2026

Antrim Electrical & Mechanical Engineers Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

| 2025 | 2024
Note | £ | £
Turnover | 4 | 41,502,714 | 54,524,394

Cost of sales | 33,828,308 | 49,118,305
| ------------- | -------------
Gross profit | 7,674,406 | 5,406,089

Administrative expenses | 5,710,476 | 5,047,795
Other operating income | 5 | 84,827 | 88,382
|  | ------------ | ------------
Operating profit | 6 | 2,048,757 | 446,676

Interest receivable | 10 | 7,196 | 12,971
Interest payable | 11 | 102,100 | 103,344
| ------------ | ------------
Profit before taxation | 1,953,853 | 356,303

Taxation on ordinary activities | 12 | 558,836 | 137,315
| ------------ | ---------
Profit for the financial year and total comprehensive income | 1,395,017 | 218,988
| ------------ | ---------

Dividends paid and payable | 13 | ( 148,000) | ( 124,000)

Retained earnings at the start of the year | 7,366,545 | 7,271,557
| ------------ | ------------
Retained earnings at the end of the year | 8,613,562 | 7,366,545
| ------------ | ------------

All the activities of the company are from continuing operations.

Antrim Electrical & Mechanical Engineers Limited

Statement of Financial Position

31 March 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 15 |  | 2,897,809 | 2,735,607

Current assets

Stocks | 16 | 19,812,711 |  | 15,670,891
Debtors | 17 | 2,724,433 |  | 4,097,953
Cash at bank and in hand | 669,798 |  | 1,004,241
| ------------- |  | -------------
| 23,206,942 |  | 20,773,085

Creditors: amounts falling due within one year | 18 | 15,933,736 |  | 14,483,862
| ------------- |  | -------------
Net current assets |  | 7,273,206 | 6,289,223
|  | ------------- | ------------
Total assets less current liabilities |  | 10,171,015 | 9,024,830

Creditors: amounts falling due after more than one year | 19 |  | 995,444 | 1,182,670

Provisions

Taxation including deferred tax | 21 |  | 162,009 | 75,615
|  | ------------- | ------------
Net assets |  | 9,013,562 | 7,766,545
|  | ------------- | ------------

Capital and reserves

Called up share capital | 24 |  | 400,000 | 400,000
Profit and loss account | 25 |  | 8,613,562 | 7,366,545
|  | ------------ | ------------
Shareholder funds |  | 9,013,562 | 7,766,545
|  | ------------ | ------------

These financial statements were approved by the board of directors and authorised for issue on 5 January 2026 , and are signed on behalf of the board by:
MR W MOWBRAY MR J JOHNSTON
Director Director
Company registration number: NI029339

Antrim Electrical & Mechanical Engineers Limited

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 208 City Business Park, Dunmurry, BT17 9HY.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements are prepared under the historical cost convention and in accordance with applicable accounting standards. The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £1.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of WDJ Limited which can be obtained from Aisling House, 50 Stranmillis Embankment, Belfast, BT9 5FL. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

| Goodwill | - | 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

| Premises alterations | - | 5% straight line
| Plant & machinery | - | 15% reducing balance
| Motor vehicles | - | 25% reducing balance

Included within fixtures and fittings are pieces of fine art. These are not depreciated as these assets are considered unlikely to suffer from economic obsolescence. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Land and buildings Land and buildings, other than investment properties, are initially held at cost. The directors do not consider that the valuation at the balance sheet of these assets is materially different to the cost currently being carried in the financial statements. The annual depreciation charge which would be necessary to write down the book value of the assets to residual value is considered to be immaterial and is therefore not provided for.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its present location and condition. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:

| 2025 | 2024
| £ | £
Rendering of services | 41,502,714 | 54,524,394
| ------------- | -------------

The turnover is attributable to the one principal activity of the company. An analysis of turnover is given below:

|  | 2025 | 2024
|  | £ | £
| United Kingdom | 41,499,282 | 54,519,229
| Other income | 3,432 | 5,165
|  | ------------- | -------------
|  | 41,502,714 | 54,524,394
|  | ------------- | -------------

5. Other operating income

| 2025 | 2024
| £ | £
Rental income | 73,656 | 71,766
Commission receivable | 7,963 | 10,442
Other operating income | 3,208 | 6,174
| -------- | --------
| 84,827 | 88,382
| -------- | --------

6. Operating profit
Operating profit or loss is stated after charging/crediting:

| 2025 | 2024
| £ | £
Depreciation of tangible assets | 363,970 | 252,379
(Gains)/loss on disposal of tangible assets | ( 26,656) | 17,140
Impairment of trade debtors | 107,065 | (83,684)
Foreign exchange differences | ( 48,590) | 39,668
| --------- | ---------

7. Auditor's remuneration

| 2025 | 2024
| £ | £
Fees payable for the audit of the financial statements | 14,250 | 14,250
| -------- | --------

8. Particulars of employees
The average number of persons employed by the company during the year, including the directors, amounted to:

| 2025 | 2024
| No. | No.
Administrative staff | 11 | 11
Management staff | 4 | 4
Number of other staff | 130 | 122
| ---- | ----
| 145 | 137
| ---- | ----

The aggregate payroll costs incurred during the year, relating to the above, were:

| 2025 | 2024
| £ | £
Wages and salaries | 6,310,147 | 6,041,150
Social security costs | 689,004 | 666,161
Other pension costs | 123,708 | 120,720
| ------------ | ------------
| 7,122,859 | 6,828,031
| ------------ | ------------

9. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:

| 2025 | 2024
| £ | £
Remuneration | 108,923 | 150,511
| --------- | ---------

10. Interest receivable

| 2025 | 2024
| £ | £
Interest on cash and cash equivalents | 7,196 | 12,971
| ------- | --------

11. Interest payable

| 2025 | 2024
| £ | £
Interest on banks loans and overdrafts | 51,789 | 76,500
Interest on obligations under finance leases and hire purchase contracts | 50,311 | 26,528
Interest due on overdue tax | – | 316
| --------- | ---------
| 102,100 | 103,344
| --------- | ---------

12. Taxation on ordinary activities
Major components of tax expense

| 2025 | 2024
| £ | £

Current tax:

UK current tax expense | 472,442 | –
Adjustments in respect of prior periods | – | 124,235
| --------- | ---------
Total current tax | 472,442 | 124,235
| --------- | ---------

Deferred tax:

Origination and reversal of timing differences | 86,394 | 13,080
| --------- | ---------
Taxation on ordinary activities | 558,836 | 137,315
| --------- | ---------

Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2024: higher than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

| 2025 | 2024
| £ | £
Profit on ordinary activities before taxation | 1,953,853 | 356,303
| ------------ | ---------
Profit on ordinary activities by rate of tax | 488,464 | 89,076
Adjustment to tax charge in respect of prior periods | – | 124,235
Effect of expenses not deductible for tax purposes | 14,494 | 6,624
Effect of capital allowances and depreciation | ( 14,928) | ( 10,422)
Utilisation of tax losses | ( 15,588) | –
Origination and reversal of timing differences | 86,394 | 13,080
Research and development credit | – | ( 85,278)
| ------------ | ---------
Tax on profit | 558,836 | 137,315
| ------------ | ---------

13. Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

| 2025 | 2024
| £ | £
Equity dividends on ordinary shares | 148,000 | 124,000
| --------- | ---------

14. Intangible assets

| Goodwill
| £
Cost |
At 1 April 2024 and 31 March 2025 | 400,000
| ---------
Amortisation |
At 1 April 2024 and 31 March 2025 | 400,000
| ---------
Carrying amount |
At 31 March 2025 | –
| ---------
At 31 March 2024 | –
| ---------

15. Tangible assets

| At 1 April 2024 | Additions | Disposals | At 31 March 2025
| £ | £ | £ | £
Cost |  |  |  |
Land and buildings | 1,845,395 | – | – | 1,845,395
Fixtures, fittings & equipment | 178,440 | – | – | 178,440
Plant & machinery | 195,458 | – | ( 132,443) | 63,015
Motor vehicles | 1,231,336 | 557,922 | ( 163,263) | 1,625,995
Investment properties | 529,965 | – | – | 529,965
| ------------ | --------- | --------- | ------------
| 3,980,594 | 557,922 | ( 295,706) | 4,242,810
| ------------ | --------- | --------- | ------------

| At 1 April 2024 | Charge for the year | Disposals | At 31 March 2025
| £ | £ | £ | £
Depreciation |  |  |  |
Land and buildings | 494,499 | 32,113 | – | 526,612
Fixtures, fittings & equipment | – | – | – | –
Plant & machinery | 183,514 | 1,792 | ( 132,444) | 52,862
Motor vehicles | 566,974 | 330,065 | ( 131,512) | 765,527
| ------------ | --------- | --------- | ------------
| 1,244,987 | 363,970 | ( 263,956) | 1,345,001
| ------------ | --------- | --------- | ------------

| At 31 March 2025 | At 31 March 2024
| £ | £
Carrying amount |  |
Land and buildings | 1,318,783 | 1,350,896
Fixtures, fittings & equipment | 178,440 | 178,440
Plant & machinery | 10,153 | 11,944
Motor vehicles | 860,468 | 664,362
Investment properties | 529,965 | 529,965
| ------------ | ------------
| 2,897,809 | 2,735,607
| ------------ | ------------

Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

| Motor vehicles
| £
At 31 March 2025 | 843,148
| ---------
At 31 March 2024 | 591,268
| ---------

16. Stocks

| 2025 | 2024
| £ | £
Raw materials and consumables | 2,000 | 2,000
Work in progress | 19,379,561 | 15,237,741
Trading property stock | 431,150 | 431,150
| ------------- | -------------
| 19,812,711 | 15,670,891
| ------------- | -------------

17. Debtors

| 2025 | 2024
| £ | £
Trade debtors | 310,229 | 1,724,929
Amounts owed by group undertakings | 884,202 | 798,753
Amounts owed by related parties | 607,327 | 569,040
Prepayments and accrued income | 193,693 | 117,213
Amounts owed by connected parties | 3,828 | 140
Other debtors | 725,154 | 887,878
| ------------ | ------------
| 2,724,433 | 4,097,953
| ------------ | ------------

18. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 417,255 | 66,190
Trade creditors | 14,153,282 | 13,458,958
Accruals and deferred income | 431,180 | 395,721
Corporation tax | 472,442 | 12,667
Social security and other taxes | 246,649 | 348,266
Obligations under finance leases and hire purchase contracts | 191,424 | 194,912
Other creditors | 21,504 | 7,148
| ------------- | -------------
| 15,933,736 | 14,483,862
| ------------- | -------------

The bank loans and overdraft is secured via a mortgage debenture incorporating a fixed and floating charge over the company assets present and future. In addition, there are legal charges over the premises owned by the company, a letter of guarantee for £657,000 plus interest, a charge over deposits executed by the company and a specific letter of guarantee for £500,000 plus interest in relation to the Aviva Life Policy. Included in creditors falling due within one year are liabilities of £417,255 (2024: £66,190) which are secured by the company.
19. Creditors: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Obligations under finance leases and hire purchase contracts | 652,217 | 551,330
Bank loans | 343,227 | 631,340
| --------- | ------------
| 995,444 | 1,182,670
| --------- | ------------

Included within creditors: amounts falling due after more than one year is an amount of £343,227 (2024: £631,340) which is secured by the company.
20. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 191,424 | 194,912
Later than 1 year and not later than 5 years | 652,217 | 551,330
| --------- | ---------
| 843,641 | 746,242
| --------- | ---------

21. Provisions

| Deferred tax (note 22)
| £
At 1 April 2024 | 75,615
Additions | 86,394
| ---------
At 31 March 2025 | 162,009
| ---------

22. Deferred tax
The deferred tax included in the statement of financial position is as follows:

| 2025 | 2024
| £ | £
Included in provisions (note 21) | 162,009 | 75,615
| --------- | --------

The deferred tax account consists of the tax effect of timing differences in respect of:

| 2025 | 2024
| £ | £
Accelerated capital allowances | 162,009 | 75,615
| --------- | --------

23. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 123,708 (2024: £ 120,720 ).
24. Called up share capital
Issued, called up and fully paid

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £ 1 each | 400,000 | 400,000 | 400,000 | 400,000
| --------- | --------- | --------- | ---------

25. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
26. Commitments under operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 | 2024
| £ | £
Not later than 1 year | 156,747 | 159,378
Later than 1 year and not later than 5 years | 253,734 | 232,260
| --------- | ---------
| 410,481 | 391,638
| --------- | ---------

27. Directors' advances, credits and guarantees
The amount due to Mr J Johnston from the company at 31 March 2025 was £Nil (2024: £Nil). The total amount credited during the year was £25,730 and the total amount advanced during the year was £25,730. There is no interest charged on the Director's loan. The amount due to Mr W Mowbray at 31 March 2025 was £Nil (2024: £Nil). The total amount credited during the year was £20,403 and the total amount advanced during the year was £20,403. There is no interest charged on the Director's loan.
28. Related party transactions
Control The company is a wholly owned subsidiary of WDJ Limited. The group is controlled by Mr J Johnston and Mr W Mowbray who are both directors and shareholders of WDJ Limited. Mr J Johnston and Mr W Mowbray are directors and shareholders of AEM Romford Limited. During the year Antrim Electrical & Mechanical Engineers Limited paid expenses on behalf of this company totalling £26,231. The balance due to Antrim Electrical & Mechanical Engineers Limited at the year end was £163,810 (2024: £137,579). Mr J Johnston and Mr W Mowbray are directors and shareholders of Erne Lough Properties No.1 Limited. During the year Antrim Electrical & Mechanical Engineers Limited paid expenses on behalf of this company totalling £5,351. The balance due to Antrim Electrical & Mechanical Engineers Limited at the year end was £216,9321 (2024: £211,401. Mr J Johnston and Mr W Mowbray are directors and shareholders of Erne Lough Properties No.2 Limited. During the year Antrim Electrical & Mechanical Engineers Limited paid expenses on behalf of this company totalling £6,525. The balance due to Antrim Electrical & Mechanical Engineers Limited at the year end was £226,585 (2024: £220,060). Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No. 102 Section 33, Related Party Disclosures.
29. Controlling party
The company is a wholly owned subsidiary of WDJ Limited, a company incorporated in Northern Ireland. Copies of the consolidated financial statements for WDJ Limited may be obtained from the registered office at Aisling House, 50 Stranmillis Embankment, Belfast BT9 5FL.