REGISTERED NUMBER: NI635671 (Northern Ireland)

Financial Statements for the Year Ended 31 July 2025

for

McKenzies (Aluminium) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S A McKenzie

Mrs D M McKenzie

S McKenzie

REGISTERED OFFICE:

76-86 Duncrue Street

Belfast

BT3 9AR

REGISTERED NUMBER:

NI635671 (Northern Ireland)

SENIOR STATUTORY AUDITOR:

Anthony Bradley FCA

AUDITORS:

Cleaver Black

Chartered Accountants

Registered Auditors

Suite 5 Ormeau House

91-97 Ormeau Road

Belfast

Co. Antrim

BT7 1SH

BANKERS:

Bank of Ireland

1 Donegall Square South

Belfast

BT1 5LR

FIXED ASSETS

Tangible assets

4

764,390

960,356

CURRENT ASSETS

Stocks

5

-

99,000

Debtors

6

3,088

2,391

Cash at bank and in hand

90,895

98,080

93,983

199,471

CREDITORS

Amounts falling due within one year

7

(2,209,775

)

(2,036,520

)

NET CURRENT LIABILITIES

(2,115,792

)

(1,837,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,351,402

)

(876,693

)

CREDITORS

Amounts falling due after more than one year

8

-

(193,812

)

PROVISIONS FOR LIABILITIES

(191,097

)

(240,088

)

NET LIABILITIES

(1,542,499

)

(1,310,593

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(1,542,599

)

(1,310,693

)

SHAREHOLDERS' FUNDS

(1,542,499

)

(1,310,593

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2026 and were signed on its behalf by:

S A McKenzie - Director

1.	STATUTORY INFORMATION

McKenzies (Aluminium) Ltd 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 as modified to include certain items at fair value. The presentation currency of these financial statements is Sterling.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

In applying the company's accounting policies the director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:

Recoverability of Debtors:

Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of the debtors are considered.

Assessing indicators of impairment:

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the asset that would have been determined had no impairment loss been recognised for the asset in previous years. A reversal of an impairment loss is recognised immediately in the profit or loss

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation is provided to write off the cost or valuation less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful lives as follows:

Plant and machinery - 7.5% and 10% on cost

The company assesses at each reporting date whether tangible fixed assets are impaired.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost for raw materials and consumables and goods for resale is the direct cost on acquisition and other costs bringing them to their existing location and condition.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other amounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short term loan that is not at market rate, the financial asset or liability is measured, initially at the present value o future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

Going concern

At 31 July 2025 the company had net current liabilities of £2,115,792, which included an intercompany loan of £1,976,741. The company has the continued support of McKenzies (NI) Limited, their parent company who have committed to providing support for a period of at least 12 months from the date of this report.

The Directors therefore have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and the accounts.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires the settlement by a transfer of economic benefit, and a reliable estimate can be made for the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account the relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 August 2024

and 31 July 2025

2,487,003

DEPRECIATION

At 1 August 2024

1,526,647

Charge for year

195,966

At 31 July 2025

1,722,613

NET BOOK VALUE

At 31 July 2025

764,390

At 31 July 2024

960,356

5.

STOCKS

2025

2024

£

£

Finished goods

-

99,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

3,088

2,391

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

217,575

228,000

Trade creditors

459

(3,549

)

Amounts owed to group undertakings

1,976,741

1,797,069

Accruals

15,000

15,000

2,209,775

2,036,520

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 2-5 years

-

193,812

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

217,575

421,812

Bank of Ireland have an all monies debenture held over the assets of the company.

As well as an all monies circular guarantee and indemnity. A lien on all securities or other property of the guarantors held by the bank whether for safe custody or otherwise.

Fixed & floating charge - all monies. By way of fixed equitable charge (i) all purchased debts being any book debts as defined in the agreement, purchased or purported to be purchased by the security holder pursuant to the agreement the ownership of which fail to vest absolutely and effectively in the security holder for any reason and (ii) all other debts, being those other than the purchased debts, now or at any time hereafter owing or becoming due to the company on any account whatsoever and (iii) all associated rights as defined in the agreement and reference to " a debt" and to a "contract of sale" in or in connection with such definition shall include reference to an other debt and to any contract giving rise to an other debt.. By way of a floating charge all the undertaking and all the rights and assets of the company whatsoever and wheresoever both present and future including the company's stock in trade and its uncalled capital other than such property as shall be subject to the fixed charge above detailed from time to time.

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Anthony Bradley FCA (Senior Statutory Auditor)

for and on behalf of Cleaver Black

11.	ULTIMATE CONTROLLING PARTY

The controlling party is S A McKenzie.