| McParland Bros Builders Limited |
| Notes to the Financial Statements |
| for the year ended 31 January 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold land & buildings |
No depreciation |
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Plant and machinery |
15% Straight line |
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Motor vehicles |
25% Straight line |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Stocks |
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Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Government grants |
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Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with the conditions attaching them and the grants will be received using the accrual model. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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| 2 |
Audit information |
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The audit report is unqualified. |
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Name of the senior statutory auditor: |
Brian Delahunt FCA |
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Firm: |
Fitzpatrick & Kearney Limited |
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Chartered Accountants & Registered Auditors |
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Date of audit report: |
20 May 2026 |
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| 3 |
Employees |
2026 |
|
2025 |
| Number |
Number |
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Average number of persons employed by the company |
12 |
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10 |
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| 4 |
Leased Assets |
€ |
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Cost |
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At 1 February 2025 |
88,000 |
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At 31 January 2026 |
88,000 |
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Depreciation |
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At 1 February 2025 |
18,700 |
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Charge for the year |
13,200 |
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At 31 January 2026 |
31,900 |
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Net book value |
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At 31 January 2026 |
56,100 |
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At 31 January 2025 |
69,300 |
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| 5 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Motor vehicles |
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Total |
| € |
€ |
€ |
€ |
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Cost |
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At 1 February 2024 |
268,262 |
|
1,556,567 |
|
82,991 |
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1,907,820 |
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Additions |
- |
|
118,298 |
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- |
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118,298 |
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Disposals |
- |
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(77,675) |
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(22,395) |
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(100,070) |
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At 31 January 2026 |
268,262 |
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1,597,190 |
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60,596 |
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1,926,048 |
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Depreciation |
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At 1 February 2025 |
- |
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1,514,110 |
|
68,077 |
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1,582,187 |
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Charge for the year |
- |
|
23,643 |
|
3,891 |
|
27,534 |
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On disposals |
- |
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(77,675) |
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(22,395) |
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(100,070) |
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At 31 January 2026 |
- |
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1,460,078 |
|
49,573 |
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1,509,651 |
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Net book value |
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At 31 January 2026 |
268,262 |
|
137,112 |
|
11,023 |
|
416,397 |
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At 31 January 2025 |
268,262 |
|
42,457 |
|
14,914 |
|
325,633 |
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| 6 |
Investments |
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| Other |
| investments |
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Cost |
€ |
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Additions |
375,000 |
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At 31 January 2026 |
375,000 |
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| 7 |
Debtors |
2026 |
|
2025 |
| € |
€ |
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Trade debtors |
- |
|
2,822 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
654,478 |
|
579,235 |
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Deferred tax asset |
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|
4,253 |
|
1,133 |
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Other debtors |
690,526 |
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721,886 |
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1,349,257 |
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1,305,076 |
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| 8 |
Creditors: amounts falling due within one year |
2026 |
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2025 |
| € |
€ |
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Bank loans and overdrafts |
170,096 |
|
1,514,860 |
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Obligations under finance lease and hire purchase contracts |
34,494 |
|
24,333 |
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Trade creditors |
560,101 |
|
308,735 |
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Taxation and social security costs |
207,752 |
|
20,522 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
2,809,752 |
|
- |
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Other creditors |
779,870 |
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778,608 |
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4,562,065 |
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2,647,058 |
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| 9 |
Creditors: amounts falling due after one year |
2026 |
|
2025 |
| € |
€ |
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Obligations under finance lease and hire purchase contracts |
54,134 |
|
14,195 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
431,954 |
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3,325,739 |
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486,088 |
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3,339,934 |
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| 10 |
Loans |
2026 |
|
2025 |
| € |
€ |
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Creditors include: |
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Secured bank loans |
- |
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1,307,610 |
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The loan is secured by: |
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(a) First ranking priority security over the issued share caital of McParland Bros Builders Limited |
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(b) First priority asset security (Debenture) |
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(c) First priority mortgage over Folio 39394F, 21692F, 12412F, 41287F and 356F at Bellfield, Dublin Road, Dundalk, Co. Louth |
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(d) Floating charge/assignemnt by way of security of the Insurances and the Development Documents to include collateral Warranties |
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(e) Limited recourse guarantee from the shareholders of the borrower supported by a share charge over the shares in McParland Bros Builders Limited |
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(f) Floating charge over the General Account |
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(g) Subordination Agreements in respect of any loans to McParland Bros Builders Limited in which those loans will rank after HBFI and cannot be enforced until such time as HBFI is repaid in full |
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| 11 |
Events after the reporting date |
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There were no events since the balance sheet date which would necessitate a revision of the above figures. However, subsequent to the reporting date, the Company completed the sale of development land at Haynestown for total consideration of €4.3 million. This transaction is considered a significant non-adjusting subsequent event, as it relates to conditions that arose after the reporting period.
Accordingly, no adjustment has been made to the amounts recognised in the financial statements at the reporting date. However, given the materiality of the disposal, this event has been disclosed to provide users with an understanding of its nature and financial effect.
Management has assessed the transaction and confirmed that it does not provide evidence of conditions existing at the reporting date. The directors are satisfied that subsequent events have been appropriately identified and disclosed in accordance with FRS 102. |
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| 12 |
Contingent liabilities |
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There were no contingent liabilities at the year end. |
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| 13 |
Related party transactions |
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Related party transactions have been identified in the year ended 31 January 2026 between the company and JPM Properties (NI) Limited, Carrickdale Enterprises Limited, McParland Bros and the company's directors. The movements on these accounts and outstanding balances are as follows: |
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JPM |
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Carrickdale |
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McParland |
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Properties |
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Enterprises |
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Bros |
| (NI) Limited |
Limited |
| € |
€ |
€ |
|
Opening balance 1 February 2025 |
(2,380,035) |
|
(945,704) |
|
579,236 |
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Sales |
1,071,247 |
|
359,604 |
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Purchases |
- |
|
- |
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Payments made |
(1,071,247) |
|
(356,374) |
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Withdrawals |
53,500 |
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Movement on currency exchange |
84,033 |
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|
- |
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Closing balance 31 January 2026 |
(2,296,002) |
|
(945,704) |
|
635,966 |
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| 14 |
Controlling party |
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The ultimate controlling party has been identified as Mr John McParland and Mr Patrick McParland each holding 49.5% of the Ordinary Shares in the company. |
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| 15 |
Other information |
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McParland Bros Builders Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
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9 Kesh Road |
|
Newry |
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Down |
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BT35 7HR |
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The company is centrally managed and controlled in the Republic of Ireland. Its main business operation office is: |
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Newry Road |
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Carrickcarnon |
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Ravensdale |
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Dundalk |
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Co. Louth |
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Republic of Ireland |