IRIS Accounts Production v26.1.0.640 NI047832 Board of Directors 1.12.24 30.11.25 30.11.25 Medium entities retailing new and second hand motor vehicles and associated services. true false true true false false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Fair value model Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh NI047832 2024-11-30 NI047832 2025-11-30 NI047832 2024-12-01 2025-11-30 NI047832 2023-11-30 NI047832 2023-12-01 2024-11-30 NI047832 2024-11-30 NI047832 ns15:NorthernIreland 2024-12-01 2025-11-30 NI047832 ns14:PoundSterling 2024-12-01 2025-11-30 NI047832 ns10:Director1 2024-12-01 2025-11-30 NI047832 ns10:PrivateLimitedCompanyLtd 2024-12-01 2025-11-30 NI047832 ns10:MediumEntities 2024-12-01 2025-11-30 NI047832 ns10:Audited 2024-12-01 2025-11-30 NI047832 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-12-01 2025-11-30 NI047832 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-12-01 2025-11-30 NI047832 ns10:FullAccounts 2024-12-01 2025-11-30 NI047832 1 2024-12-01 2025-11-30 NI047832 ns10:OrdinaryShareClass1 2024-12-01 2025-11-30 NI047832 ns10:Director2 2024-12-01 2025-11-30 NI047832 ns10:CompanySecretary1 2024-12-01 2025-11-30 NI047832 ns10:RegisteredOffice 2024-12-01 2025-11-30 NI047832 ns5:CurrentFinancialInstruments 2025-11-30 NI047832 ns5:CurrentFinancialInstruments 2024-11-30 NI047832 ns5:ShareCapital 2025-11-30 NI047832 ns5:ShareCapital 2024-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2025-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2024-11-30 NI047832 ns5:ShareCapital 2023-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2023-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2023-12-01 2024-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2024-12-01 2025-11-30 NI047832 ns5:NetGoodwill 2024-12-01 2025-11-30 NI047832 ns5:IntangibleAssetsOtherThanGoodwill 2024-12-01 2025-11-30 NI047832 ns5:OwnedAssets 2024-12-01 2025-11-30 NI047832 ns5:OwnedAssets 2023-12-01 2024-11-30 NI047832 11 2024-12-01 2025-11-30 NI047832 11 2023-12-01 2024-11-30 NI047832 1 2024-12-01 2025-11-30 NI047832 1 2023-12-01 2024-11-30 NI047832 ns10:OrdinaryShareClass1 2023-12-01 2024-11-30 NI047832 ns5:NetGoodwill 2024-11-30 NI047832 ns5:NetGoodwill 2025-11-30 NI047832 ns5:NetGoodwill 2024-11-30 NI047832 ns5:LandBuildings 2024-11-30 NI047832 ns5:LeaseholdImprovements 2024-11-30 NI047832 ns5:PlantMachinery 2024-11-30 NI047832 ns5:LandBuildings 2024-12-01 2025-11-30 NI047832 ns5:LeaseholdImprovements 2024-12-01 2025-11-30 NI047832 ns5:PlantMachinery 2024-12-01 2025-11-30 NI047832 ns5:LandBuildings 2025-11-30 NI047832 ns5:LeaseholdImprovements 2025-11-30 NI047832 ns5:PlantMachinery 2025-11-30 NI047832 ns5:LandBuildings 2024-11-30 NI047832 ns5:LeaseholdImprovements 2024-11-30 NI047832 ns5:PlantMachinery 2024-11-30 NI047832 ns5:FurnitureFittings 2024-11-30 NI047832 ns5:MotorVehicles 2024-11-30 NI047832 ns5:ComputerEquipment 2024-11-30 NI047832 ns5:FurnitureFittings 2024-12-01 2025-11-30 NI047832 ns5:MotorVehicles 2024-12-01 2025-11-30 NI047832 ns5:ComputerEquipment 2024-12-01 2025-11-30 NI047832 ns5:FurnitureFittings 2025-11-30 NI047832 ns5:MotorVehicles 2025-11-30 NI047832 ns5:ComputerEquipment 2025-11-30 NI047832 ns5:FurnitureFittings 2024-11-30 NI047832 ns5:MotorVehicles 2024-11-30 NI047832 ns5:ComputerEquipment 2024-11-30 NI047832 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-11-30 NI047832 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-11-30 NI047832 ns5:DeferredTaxation 2024-11-30 NI047832 ns5:DeferredTaxation 2025-11-30 NI047832 ns10:OrdinaryShareClass1 2025-11-30 NI047832 ns5:RetainedEarningsAccumulatedLosses 2024-11-30 NI047832 1 2024-12-01 2025-11-30

REGISTERED NUMBER: NI047832 (Northern Ireland)

STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

MONAGHAN BROTHERS LIMITED

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

CONTENTS OF THE FINANCIAL STATEMENTS

for the Year Ended 30 NOVEMBER 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 4 |

Report of the Independent Auditors | 6 |

Income Statement | 9 |

Other Comprehensive Income | 10 |

Balance Sheet | 11 |

Statement of Changes in Equity | 12 |

Cash Flow Statement | 13 |

Notes to the Cash Flow Statement | 14 |

Notes to the Financial Statements | 15 |

MONAGHAN BROTHERS LIMITED

COMPANY INFORMATION

for the Year Ended 30 NOVEMBER 2025

| DIRECTORS: | Mr J P Armitage

| Mr T Armitage

| SECRETARY: | Mr V O'Reilly

| REGISTERED OFFICE: | 16 Main Street

| Drumhaw

| Lisnaskea

| Co. Fermanagh

| BT92 0JB

| REGISTERED NUMBER: | NI047832 (Northern Ireland)

| AUDITORS: | Patton Rainey Stenson Limited

| Chartered Accountants and Statutory Auditors

| 6 East Bridge Street

| Enniskillen

| Co. Fermanagh

| BT74 7BT

| BANKERS: | Allied Irish Bank

| 2 & 4 East Bridge Street

| Enniskillen

| Co. Fermanagh

| BT74 7BT

| SOLICITORS: | Murnaghan and Fee Solicitors

| Boston Chambers

| Queen Elizabeth Road

| Enniskillen

| Co. Fermanagh

| BT74 7DS

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

STRATEGIC REPORT

for the Year Ended 30 NOVEMBER 2025

The directors present their strategic report for the year ended 30 November 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year of review was that of retailing new and second hand motor vehicles and associated services.

REVIEW OF BUSINESS AND FUTURE DEVELOPMENTS

The directors consider the results during the year to be satisfactory.

There was a profit for the year, before taxation, of £21,906 (2024: profit £153,805). This was achieved with a turnover of £19,388,547 (2024: £21,794,002).

Net assets in the company have decreased to £3,531,606 (2024: £3,654,563). The directors are satisfied with the financial position of the company at the year end.

The directors have plans in place to ensure that the company is strongly placed to retain its market position and continued profitability. Since the year end performance has been encouraging.

Monaghan Brothers Limited has been proactive at responding to market demands and the new franchise agreements which it has entered into with Maxus and Isuzu in the past 2 years have proved successful.

The key performance indicators of the company are as follows:

| 2025 |  | 2024 |

£'000000 |  | £'000000 |  |

Turnover |  | 19,388 |  | 21,794 |

Gross Profit Margin |  | 10.80% |  | 10.45% |

Operating Profit Margin |  | 0.66% |  | 1.25% |

Shareholders' Equity |  | 3,531 |  | 3,655 |

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider that the principal risks and uncertainties faced by the company are in the areas of current economic environment, competition from other car dealerships, franchise support and employee retention.

The directors manage these risks by close attention to customer service levels and franchise contractual arrangements.

It is the directors' opinion that the risks and uncertainties facing the company are adequately addressed and managed.

FINANCIAL RISK MANAGEMENT

The company's operations expose it to a variety of financial risks that include the effects of credit risk, liquidity risk and price risk. Given the size of the company the financial risk management is not delegated and is controlled by the directors and the main risks associated with the financial assets and liabilities are set out below:

Credit risk

The company has implemented policies that require appropriate credit checks on potential customers before sales are made, and the majority of sales continue to be made to long standing customers with whom a good relationship has been built. The company reassesses credit risk on an ongoing basis to ensure that the company's exposure to bad debts is mitigated.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

STRATEGIC REPORT

for the Year Ended 30 NOVEMBER 2025

Liquidity risk

The company has adequate cash resources and is managed by the company's directors on a daily basis. Liquidity risk is adequately addressed and managed sufficiently.

Price risk

The company is exposed to commodity price risk as a result of its operations due to movements and the volatility of commodity prices. The directors will revisit the appropriateness of this policy should the company's operations change in size or nature.

The company remains committed to strong financial controls, cash management and prudent accounting policies.

ENVIRONMENT

The company recognises its corporate responsibility to carry out its operations whilst minimising environmental impacts. The directors' continued aim is to comply with all applicable environmental legislation, prevent pollution and reduce waste wherever possible.

HEALTH AND SAFETY

The company is committed to achieving the highest practicable standards in health and safety management and strives to make its premises a safe environment for employees and customers alike.

HUMAN RESOURCES

The company regards people as one of its most important resources. Retention of key staff is critical and there is relatively low turnover of personnel; their knowledge and experience is vital to the company's ability to serve customer requirements.

GOING CONCERN

The company's activities, together with factors likely to affect its future development, performance and position are continuously reviewed by the directors. Review of cash flow and liquidity position leads the directors to believe that the company is well placed to manage its business risks successfully despite any current economic uncertainties.

The company meets its day to day working capital requirements through its current cash levels. The directors are confident that the company has adequate resources to meet its normal business requirements for the foreseeable future, a period of at least 12 months from the date of signing the financial statements and therefore have continued to adopt the going concern basis when preparing the financial statements.

POST BALANCE SHEET EVENTS

There has been no significant events affecting the company since the year end.

ON BEHALF OF THE BOARD:

Mr J P Armitage - Director

24 March 2026

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

REPORT OF THE DIRECTORS

for the Year Ended 30 NOVEMBER 2025

The directors present their report with the financial statements of the company for the year ended 30 November 2025.

DIVIDENDS

The total distribution of dividends for the year ended 30 November 2025 amounted to £135,000 (2024: £135,000).

FUTURE DEVELOPMENTS

The directors anticipate that any future developments would relate to it's principal activities.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors set out in the table below have held office during the whole of the period from 1 December 2024 to the date of this report.

The beneficial interests of the directors holding office at 30 November 2025 in the shares of the company, according to the register of directors' interests, were as follows:

| 30.11.25 |  | 1.12.24

Ordinary shares of £1 each

Mr J P Armitage | 55 |  | 55 |  |

Mr T Armitage | 25 |  | 25 |  |

These directors did not hold any non-beneficial interests in the shares of the company.

DONATIONS

During the year the company made charitable donations amounting to £25,598 (2024: £1,190).

No donations were made during the year for political purposes (2024: £NIL).

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors 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 of 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 judgements and accounting estimates that are reasonable and prudent;

- state whether applicable 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.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

REPORT OF THE DIRECTORS

for the Year Ended 30 NOVEMBER 2025

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Patton Rainey Stenson Limited, have indicated their willingness to continue in office and a resolution will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report was approved by the Board of Directors on 24 March 2026.

ON BEHALF OF THE BOARD:

Mr J P Armitage - Director

24 March 2026

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MONAGHAN BROTHERS LIMITED

Opinion

We have audited the financial statements of Monaghan Brothers Limited (the 'company') for the year ended 30 November 2025 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 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 30 November 2025 and of its profit 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 Auditors' 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 directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MONAGHAN BROTHERS 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 Report of the Directors.

We have nothing to report in respect of the following matters where 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 Statement of Directors' Responsibilities set out on page four, 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 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.

Auditors' 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 a Report of the Auditors 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:

As part of an audit in accordance with ISAs, we exercise professional judgement and maintain professional scepticism throughout the audit.

We 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 these risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We obtain an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances.

We obtain an understanding of the company, the industry it operates in and the legal and regulatory framework that the company operates within. We focus on the provisions of these laws and regulations that have a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, Pension, Tax and Health and Safety Legislation, together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the company's ability to operate or avoid a material penalty.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

MONAGHAN BROTHERS LIMITED

We tailored our response to these identified risks to include enquiry of management and external legal advisors concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate the risk of material misstatement due to fraud or other irregularities. Further we reviewed the correspondence with HMRC and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias. Further we evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business.

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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

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 we are required to state to them in a Report of the Auditors 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.

William Kenneth Rainey (Senior Statutory Auditor)

for and on behalf of Patton Rainey Stenson Limited

Chartered Accountants and Statutory Auditors

6 East Bridge Street

Enniskillen

Co. Fermanagh

BT74 7BT

24 March 2026

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

INCOME STATEMENT

for the Year Ended 30 NOVEMBER 2025

| 30.11.25 |  | 30.11.24

| Notes | £ | £ |

TURNOVER | 3 | 19,388,547 |  | 21,794,002 |  |

Cost of sales | 17,294,938 |  | 19,515,580 |  |

GROSS PROFIT | 2,093,609 |  | 2,278,422 |  |

Administrative expenses | 2,152,684 |  | 2,123,737 |  |

(59,075 | ) | 154,685 |  |

Other operating income | 158,889 |  | 108,488 |  |

OPERATING PROFIT | 6 | 99,814 |  | 263,173 |  |

Interest receivable and similar income | 28,372 |  | 10,157 |  |

128,186 |  | 273,330 |  |

Interest payable and similar expenses | 7 | 106,280 |  | 119,525 |  |

PROFIT BEFORE TAXATION | 21,906 |  | 153,805 |  |

Tax on profit | 8 | 9,863 |  | 36,844 |  |

PROFIT FOR THE FINANCIAL YEAR | 12,043 |  | 116,961 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

OTHER COMPREHENSIVE INCOME

for the Year Ended 30 NOVEMBER 2025

| 30.11.25 |  | 30.11.24

| Notes | £ | £ |

PROFIT FOR THE YEAR | 12,043 |  | 116,961 |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 12,043 |  | 116,961 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

BALANCE SHEET

30 NOVEMBER 2025

| 30.11.25 | 30.11.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Intangible assets | 10 | - |  | - |  |

Tangible assets | 11 | 868,306 |  | 893,423 |  |

Investment property | 12 | 149,350 |  | 149,350 |  |

1,017,656 |  | 1,042,773 |  |

CURRENT ASSETS

Stocks | 13 | 2,769,153 |  | 3,234,262 |  |

Debtors | 14 | 790,914 |  | 938,334 |  |

Cash at bank and in hand | 2,172,955 |  | 1,624,222 |  |

5,733,022 |  | 5,796,818 |  |

CREDITORS

Amounts falling due within one year | 15 | 3,205,899 |  | 3,171,575 |  |

NET CURRENT ASSETS | 2,527,123 |  | 2,625,243 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 3,544,779 |  | 3,668,016 |  |

PROVISIONS FOR LIABILITIES | 18 | 13,173 |  | 13,453 |  |

NET ASSETS | 3,531,606 |  | 3,654,563 |  |

CAPITAL AND RESERVES

Called up share capital | 19 | 93 |  | 93 |  |

Retained earnings | 20 | 3,531,513 |  | 3,654,470 |  |

SHAREHOLDERS' FUNDS | 3,531,606 |  | 3,654,563 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 24 March 2026 and were signed on its behalf by:

Mr J P Armitage - Director

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

STATEMENT OF CHANGES IN EQUITY

for the Year Ended 30 NOVEMBER 2025

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£ | £ | £ |

Balance at 1 December 2023 | 93 |  | 3,672,509 |  | 3,672,602 |  |

Changes in equity

Dividends | - |  | (135,000 | ) | (135,000 | ) |

Total comprehensive income | - |  | 116,961 |  | 116,961 |  |

Balance at 30 November 2024 | 93 |  | 3,654,470 |  | 3,654,563 |  |

Changes in equity

Dividends | - |  | (135,000 | ) | (135,000 | ) |

Total comprehensive income | - |  | 12,043 |  | 12,043 |  |

Balance at 30 November 2025 | 93 |  | 3,531,513 |  | 3,531,606 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

CASH FLOW STATEMENT

for the Year Ended 30 NOVEMBER 2025

| 30.11.25 |  | 30.11.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 851,723 |  | 544,007 |  |

Interest paid | (106,280 | ) | (119,525 | ) |

Tax paid | (40,438 | ) | (124,944 | ) |

Net cash from operating activities | 705,005 |  | 299,538 |  |

Cash flows from investing activities

Purchase of tangible fixed assets | (19,644 | ) | (35,545 | ) |

Interest received | 28,372 |  | 10,157 |  |

Net cash from investing activities | 8,728 |  | (25,388 | ) |

Cash flows from financing activities

Amount introduced by directors | - |  | 30,000 |  |

Amount withdrawn by directors | (30,000 | ) | - |  |

Equity dividends paid | (135,000 | ) | (135,000 | ) |

Net cash from financing activities | (165,000 | ) | (105,000 | ) |

Increase in cash and cash equivalents | 548,733 |  | 169,150 |  |

Cash and cash equivalents at beginning of year | 2 | 1,624,222 |  | 1,455,072 |  |

Cash and cash equivalents at end of year | 2 | 2,172,955 |  | 1,624,222 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE CASH FLOW STATEMENT

for the Year Ended 30 NOVEMBER 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 30.11.25 |  | 30.11.24

£ | £ |

| Profit before taxation | 21,906 |  | 153,805 |  |

| Depreciation charges | 44,761 |  | 45,166 |  |

| Finance costs | 106,280 |  | 119,525 |  |

| Finance income | (28,372 | ) | (10,157 | ) |

144,575 |  | 308,339 |  |

| Decrease/(increase) in stocks | 465,109 |  | (243,507 | ) |

| Decrease in trade and other debtors | 147,420 |  | 100,659 |  |

| Increase in trade and other creditors | 94,619 |  | 378,516 |  |

| Cash generated from operations | 851,723 |  | 544,007 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 30 November 2025

| 30.11.25 |  | 1.12.24

£ | £ |

| Cash and cash equivalents | 2,172,955 |  | 1,624,222 |  |

| Year ended 30 November 2024

| 30.11.24 |  | 1.12.23

£ | £ |

| Cash and cash equivalents | 1,624,222 |  | 1,455,072 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.12.24 | Cash flow | At 30.11.25

£ | £ | £ |

| Net cash |

| Cash at bank and in hand | 1,624,222 |  | 548,733 |  | 2,172,955 |  |

1,624,222 |  | 548,733 |  | 2,172,955 |  |

| Total | 1,624,222 |  | 548,733 |  | 2,172,955 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS

for the Year Ended 30 NOVEMBER 2025

1. | STATUTORY INFORMATION

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

2. | ACCOUNTING POLICIES

| Basis of preparing the financial statements

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

| Revenue recognition

| The revenue shown in the profit and loss account represents income from external vehicle sales, parts and servicing, as well as other goods and services supplied to customers and are exclusive of Value Added Tax, discounts and rebates.

| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

| The following criteria must be met before revenue is recognised:

| Sale of goods

| Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

| - the Company has transferred the significant risks and rewards of ownership to the customer;

| - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

| - the amount of revenue can be measured reliably;

| - it is probable that the Company will receive the consideration due under the transaction; and

| - the costs incurred or to be incurred in respect of the transaction can be measured reliably.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of four years.

| Intangible assets

| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

| Goodwill, being the amount paid in connection with acquisition of the business in 2003, was amortised evenly over its useful life of four years.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Tangible fixed assets

| Tangible fixed assets under the cost model are stated at cost (or deemed cost) less accumulated depreciation and any accumulated impairment losses. Cost includes original purchase price that is directly attributable to bringing the asset to location and condition necessary for it to be capable of operating in the manner intended by management.

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Freehold Buildings - 4% straight line

| Improvements to property - 10% straight line

| Plant and machinery - 20% on reducing balance

| Fixtures and fittings - 20% on reducing balance

| Motor vehicles - 25% on reducing balance

| Computer Equipment - 20% straight line

| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

| (ii) Subsequent additions and major components

| Subsequent costs, including major inspections , are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the group and the cost can be measured reliably.

| The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

| Repairs, maintenance and minor inspection costs are expensed as incurred.

| (iii) Derecognition

| Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement and included in cost of sales.

| Investment property

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

| In accordance with Statement Accounting Practice No. 19, certain of the company's properties are held for long-term investment and are included in the balance sheet at their open market values. The surpluses or deficits on annual revaluation of such properties are transferred to the investment revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years.

| This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view, because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Stocks

| Stocks are stated at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Stocks consumed are recognised as an expense in the period in which the revenue is recognised.

| Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.

| Net realisable value is the estimated selling price less costs to complete and sell. Stock which cannot be easily and separately identified is costed on a first in first out basis.

| At the balance sheet date stocks are assessed for impairment and if necessary the carrying amount is reduced to its selling price less costs to complete and sell. The impairment is recognised immediately in the profit or loss.

| Vehicles held on consignment basis are included in stock and creditors.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

| Foreign currencies

| Transactions denominated in foreign currencies are translated at the exchange rate at the date of the transaction. All monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date or the exchange rate of a related foreign exchange contract where appropriate. The resulting gain or loss is dealt with in the Income Statement.

| Pension costs and other post-retirement benefits

| The Company operates a defined contribution plan for its director and employees. A defined contribution plan is a pension plan under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

| Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Financial instruments

| The company has chosen to adopt Sections I I and 12 of FRS 102 in respect of financial instruments.

| (i) Financial assets

| Basic financial assets, including trade and other receivables and cash and bank balances and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

| At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

| If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

| (ii) Financial liabilities

| Basic financial liabilities, including trade and other payables, bank loans and, amounts payable to group undertakings, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

| Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a prepayment for liquidity services and amortised over the period of the facility to which it relates.

| Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

| (iii) Offsetting

| Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

| Dividends

| Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the directors.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

2. | ACCOUNTING POLICIES - continued

| Holiday pay accrual

| A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the Balance Sheet date and carried forward to further periods. This is measured at the discounted salary cost of the future holiday entitlement so accrued at the Balance Sheet date.

| Share Capital

| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

| Contingent Liabilities

| Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurance or non-occurance of uncertain future events not wholly within the company's control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

| Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefit is probable.

| Related party transactions

| The company discloses transactions with related parties. Where appropriate, transactions of a similar nature are aggregated unless, in the opinion of the directors, separate disclosure is necessary to understand the effect of the transaction on the financial statements.

| Judgements in applying accounting policies and key sources of estimation

| When preparing the financial statements, management undertakes a number of judgements, estimates and assumptions about the recognition and measurement of assets, liabilities, income and expenses. The following are significant management judgements in applying the accounting policies of the company that have the most significant effect on the financial statements.

| Allowance for impairment of trade debtors.

| The company estimates the allowance for doubtful trade debtors based on assessment of specific accounts where the company has objective evidence comprising default in payment terms or significant financial difficulty that certain customers are unable to meet their financial obligations. In these cases, judgement used was based on the best available facts and circumstances including but not limited to, the length of relationship.

| Useful lives of depreciable assets

| The annual depreciation charge depends primarily on the estimated lives of each type of asset and, in certain circumstances, estimates of fair values and residual values. The directors annually review these asset lives and adjust them as necessary to reflect current thinking on remaining lives in light of technological change, prospective economic utilisation and physical condition for the period. It is not practical to quantify the impact of changes in asset lives on an overall basis, as asset lives are individually determined , and there are a significant number of asset lives in use. The impact of any change would vary significantly depending on the individual changes in assets and the classes of assets impacted.

3. | TURNOVER

| The turnover relates to the company's principal activities which are carried out in the United Kingdom.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

4. | EMPLOYEES AND DIRECTORS

| 30.11.25 |  | 30.11.24

£ | £ |

| Wages and salaries | 1,231,598 |  | 1,170,815 |  |

| Social security costs | 127,822 |  | 102,997 |  |

| Other pension costs | 139,955 |  | 139,942 |  |

1,499,375 |  | 1,413,754 |  |

| The average number of employees during the year was as follows:

| 30.11.25 |  | 30.11.24

| Sales | 6 |  | 6 |  |

| Mechanical | 10 |  | 10 |  |

| Body repairs | 9 |  | 9 |  |

| Administration | 13 |  | 14 |  |

| Other | 7 |  | 6 |  |

45 |  | 45 |  |

5. | DIRECTORS' EMOLUMENTS

| Directors' remuneration

|  | 30.11.23 |  | 30.11.22 |  |

| £ |  | £ |  |

| Directors' emoluments |  | 84,794 |  | 86,800 |  |

| Company contributions to defined contribution pension scheme |  | 80,000 |  | 80,000 |  |

|  | 164,794 |  | 166,800 |  |

| Key Management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of the company. All key management are directors and their remuneration for the year has been disclosed above.

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 30.11.25 |  | 30.11.24

£ | £ |

| Other operating leases | 48,000 |  | 48,000 |  |

| Depreciation - owned assets | 44,761 |  | 45,166 |  |

| Auditors' remuneration | 4,000 |  | 3,500 |  |

| Auditors' renumeration for non audit work including tax services | 9,519 |  | 9,100 |  |

| Defined contribution pension cost | 143,056 |  | 139,942 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

7. | INTEREST PAYABLE AND SIMILAR EXPENSES |

| 30.11.25 |  | 30.11.24

£ | £ |

| Bank charges | 24,848 |  | 30,344 |  |

| Stocking loan interest | 81,432 |  | 89,181 |  |

106,280 |  | 119,525 |  |

8. | TAXATION

| Analysis of the tax charge

| The tax charge on the profit for the year was as follows:

| 30.11.25 |  | 30.11.24

£ | £ |

| Current tax:

| UK corporation tax | 10,143 |  | 40,438 |  |

| Deferred tax | (280 | ) | (3,594 | ) |

| Tax on profit | 9,863 |  | 36,844 |  |

9. | DIVIDENDS

| 30.11.25 |  | 30.11.24

£ | £ |

| Final | 135,000 |  | 135,000 |  |

10. | INTANGIBLE FIXED ASSETS

| Goodwill

£ |

| COST

| At 1 December 2024

| and 30 November 2025 | 120,000 |  |

| AMORTISATION

| At 1 December 2024

| and 30 November 2025 | 120,000 |  |

| NET BOOK VALUE

| At 30 November 2025 | - |  |

| At 30 November 2024 | - |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

11. | TANGIBLE FIXED ASSETS

| Improvements |

| to |

| Freehold |  | leasehold |  | Plant and

| property |  | property |  | machinery

£ | £ | £ |

| COST

| At 1 December 2024 | 1,012,365 |  | 171,093 |  | 287,721 |  |

| Additions | - |  | - |  | 9,116 |  |

| At 30 November 2025 | 1,012,365 |  | 171,093 |  | 296,837 |  |

| DEPRECIATION

| At 1 December 2024 | 201,612 |  | 171,093 |  | 215,595 |  |

| Charge for year | 23,998 |  | - |  | 16,248 |  |

| At 30 November 2025 | 225,610 |  | 171,093 |  | 231,843 |  |

| NET BOOK VALUE

| At 30 November 2025 | 786,755 |  | - |  | 64,994 |  |

| At 30 November 2024 | 810,753 |  | - |  | 72,126 |  |

| Fixtures |

| and |  | Motor |  | Computer |

| fittings |  | vehicles |  | equipment |  | Totals

£ | £ | £ | £ |

| COST

| At 1 December 2024 | 104,744 |  | 19,000 |  | 31,467 |  | 1,626,390 |  |

| Additions | 5,400 |  | - |  | 5,128 |  | 19,644 |  |

| At 30 November 2025 | 110,144 |  | 19,000 |  | 36,595 |  | 1,646,034 |  |

| DEPRECIATION

| At 1 December 2024 | 100,794 |  | 12,988 |  | 30,885 |  | 732,967 |  |

| Charge for year | 1,870 |  | 1,503 |  | 1,142 |  | 44,761 |  |

| At 30 November 2025 | 102,664 |  | 14,491 |  | 32,027 |  | 777,728 |  |

| NET BOOK VALUE

| At 30 November 2025 | 7,480 |  | 4,509 |  | 4,568 |  | 868,306 |  |

| At 30 November 2024 | 3,950 |  | 6,012 |  | 582 |  | 893,423 |  |

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

12. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 December 2024

| and 30 November 2025 | 149,350 |  |

| NET BOOK VALUE

| At 30 November 2025 | 149,350 |  |

| At 30 November 2024 | 149,350 |  |

| The property was purchased in January 2023 and the directors believe that the cost recorded in the accounts does not differ materially to the market value at 30 November 2025.

13. | STOCKS

| 30.11.25 |  | 30.11.24

£ | £ |

| Stocks | 2,769,153 |  | 3,234,262 |  |

| There is no material difference between replacement cost of stocks and their balance sheet values.

14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.11.25 |  | 30.11.24

£ | £ |

| Trade debtors | 587,094 |  | 736,507 |  |

| Amount owed by related party (Note 24) | 80,000 |  | 110,000 |  |

| VAT | - |  | 46,503 |  |

| Prepayments and accrued income | 123,820 |  | 45,324 |  |

790,914 |  | 938,334 |  |

| Amounts owed by related parties are unsecured, interest free and repayable on demand.

15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 30.11.25 |  | 30.11.24

£ | £ |

| Trade creditors | 2,918,797 |  | 2,970,118 |  |

| Corporation tax | 10,143 |  | 40,438 |  |

| Social security and other taxes | 37,089 |  | 33,909 |  |

| VAT | 143,408 |  | - |  |

| Directors' current accounts | - |  | 30,000 |  |

| Accruals and deferred income | 96,462 |  | 97,110 |  |

3,205,899 |  | 3,171,575 |  |

16. | SECURED DEBTS

| Consignment creditors, included within trade creditors of £1,988,528 (2024: £2,509,766), are secured over the stock to which it relates.

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

17. | FINANCIAL INSTRUMENTS

| Financial assets that are debt instruments measured at amortised cost comprise trade debtors, other debtors, cash and cash equivalents.

| Financial liabilities measured at amortised cost comprise trade creditors , accruals, bank overdraft and bank loans.

18. | PROVISIONS FOR LIABILITIES

| 30.11.25 |  | 30.11.24

£ | £ |

| Deferred tax | 13,173 |  | 13,453 |  |

| Deferred |

| tax |

£ |

| Balance at 1 December 2024 | 13,453 |  |

| Movement in year | (280 | ) |

| Balance at 30 November 2025 | 13,173 |  |

19. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 30.11.25 |  | 30.11.24

| value: | £ | £ |

| 93 | Ordinary | £1 | 93 |  | 93 |  |

20. | RESERVES

| Retained

| earnings

£ |

| At 1 December 2024 | 3,654,470 |  |

| Profit for the year | 12,043 |  |

| Dividends | (135,000 | ) |

| At 30 November 2025 | 3,531,513 |  |

21. | PENSION COMMITMENTS

| The company operates a defined contribution pension scheme for the benefit of the directors and staff. The assets of the scheme are held separately from those of the company. The total pension costs of the company for the year was £143,056 (2024: £139,942). There was £Nil outstanding at the year end (2024: Nil).

22. | CONTINGENT LIABILITIES

| The company had no contingent liabilities existing at the year end (2024 : £Nil).

23. | CAPITAL COMMITMENTS

| The company had no capital commitments at the year end (2024 : £Nil).

MONAGHAN BROTHERS LIMITED (REGISTERED NUMBER: NI047832)

NOTES TO THE FINANCIAL STATEMENTS - continued

for the Year Ended 30 NOVEMBER 2025

24. | RELATED PARTY DISCLOSURES

| The company rents property owned by a director and other family members at a commercial rent of £48,000 per annum (2024: £48,000).

| During the year the following transactions arose with a company under the common control of the directors of Monaghan Brothers Limited:

| £ |  |

| Sales to Monaghan Brothers Limited |  | ` |  | 789,858 |  |

| Purchases from Monaghan Brothers Limited |  |  | 265,231 |  |

| Management Charge from Monaghan Brothers Limited |  |  | 6,000 |  |

| The following balances were owed at 30 November 2025: |  |

| Amount owed by Monaghan Brothers Limited - included in trade creditors |  | 600 |  |

| Amount owed to Monaghan Brothers Limited - included in trade debtors |  | 51,825 |  |

| Amount owed to Monaghan Brothers Limited - included in prepayments |  | 81,500 |  |

| Amount owed to Monaghan Brothers Limited - loan |  | 80,000 |  |

25. | POST BALANCE SHEET EVENTS

| There have been no significant events affecting the company since the year end.