Registration number:
Milton Keynes Irish Centre Limited
for the Year Ended 28 February 2026
Registration number:
Milton Keynes Irish Centre Limited
for the Year Ended 28 February 2026
Milton Keynes Irish Centre Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Milton Keynes Irish Centre Limited
Company Information
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Directors |
Mr M O'Hanlon Mrs G Pezzella |
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Company secretary |
Mr M O'Hanlon |
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Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Milton Keynes Irish Centre Limited
for the Year Ended 28 February 2026
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Milton Keynes Irish Centre Limited for the year ended 28 February 2026 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Milton Keynes Irish Centre Limited, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of Milton Keynes Irish Centre Limited and state those matters that we have agreed to state to the Board of Directors of Milton Keynes Irish Centre Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Milton Keynes Irish Centre Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Milton Keynes Irish Centre Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Milton Keynes Irish Centre Limited. You consider that Milton Keynes Irish Centre Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Milton Keynes Irish Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Newport Pagnell
Buckinghamshire
MK16 8HJ
Milton Keynes Irish Centre Limited
(Registration number: 05336980)
Balance Sheet as at 28 February 2026
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Note |
2026 |
2025 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Reserves |
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Retained earnings |
166,089 |
139,944 |
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Surplus |
166,089 |
139,944 |
For the financial year ending 28 February 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Milton Keynes Irish Centre Limited
(Registration number: 05336980)
Balance Sheet as at 28 February 2026
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Milton Keynes Irish Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Milton Keynes Irish Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Improvements to property |
10% on cost |
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Fixtures and fittings |
15% on cost |
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Kitchen improvements |
15% on cost |
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Office equipment |
33% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Milton Keynes Irish Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Grants
Grants received in respect of revenue items are matched against expenditure in the profit and loss account, under the accruals concept.
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Staff numbers |
The average number of persons employed by the company during the year, including directors, was
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Tangible assets |
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Fixtures and fittings |
Improvements to property |
Office equipment |
Kitchen improvements £ |
Total |
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Cost or valuation |
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At 1 March 2025 |
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Additions |
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At 28 February 2026 |
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Depreciation |
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At 1 March 2025 |
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Charge for the year |
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- |
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At 28 February 2026 |
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Carrying amount |
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At 28 February 2026 |
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At 28 February 2025 |
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Milton Keynes Irish Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
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Stocks |
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2026 |
2025 |
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Inventory |
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Debtors |
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2026 |
2025 |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2026 |
2025 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Deferred grants |
1,666 |
1,603 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £Nil (2025 - £
Milton Keynes Irish Centre Limited
Notes to the Unaudited Financial Statements for the Year Ended 28 February 2026
10 Department of Foreign Affairs and Trade; Emigrant Support Programme Grant
The grants are received from the Irish government to support the Emigrant Support Programme (ESP).
The grants are restricted funds in that they can only be used for the specified grant application.
The centre reports to ESP on specific grant headings and must repay any grants not used.
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Brought Forward |
Received |
Absorbed |
Carried Forward |
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Aggregate grants (ESP) |
1,601 |
9,430 |
(9,365) |
1,666 |
11 Water Rates Accrual
The company has accrued £11,500 for water rates not billed for many years. The centre received a bill for £12,000 in the 2020 accounts year, but no demands for settlement have been received to date, so the amount has not been settled.
The centre considers that those using the pitches had a responsibility to pay part of the bill, but that has yet to be agreed.
The centre accounts retains the accrual against the potential liability for this historical water rates bill.
12 Repairs and renewals
In the year, the centre undertook significant repairs to the centre including maintenance to the football pitch. The costs were in total £7,116 (2025: £30,627).
13 Manor Fields Football
The Manor Fields football pitches are now used by teams using the Milton Keynes Irish Centre facility and name.
There are 4 adult and 5 youth teams.The team players are members of the centre.
During the year £2,248 (2025: £2,800) has been received in repect of memberships for the team players.