COMPANY REGISTRATION NUMBER:
NI619637
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McGeown Group (Ireland) Ltd |
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Filleted Unaudited Financial Statements |
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McGeown Group (Ireland) Ltd |
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Statement of Financial Position |
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30 April 2025
Fixed assets
Current assets
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Debtors |
5 |
30,000 |
– |
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Cash at bank and in hand |
879,661 |
903,222 |
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--------- |
--------- |
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909,661 |
903,222 |
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Creditors: amounts falling due within one year |
6 |
4,500 |
4,200 |
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--------- |
--------- |
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Net current assets |
905,161 |
899,022 |
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--------- |
--------- |
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Total assets less current liabilities |
905,361 |
899,222 |
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--------- |
--------- |
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Net assets |
905,361 |
899,222 |
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--------- |
--------- |
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Capital and reserves
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Called up share capital |
300 |
300 |
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Profit and loss account |
905,061 |
898,922 |
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--------- |
--------- |
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Shareholders funds |
905,361 |
899,222 |
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--------- |
--------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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McGeown Group (Ireland) Ltd |
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Statement of Financial Position (continued) |
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30 April 2025
These financial statements were approved by the
board of directors
and authorised for issue on
8 June 2026
, and are signed on behalf of the board by:
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Mr Adrian McGeown |
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Director |
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Company registration number:
NI619637
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McGeown Group (Ireland) Ltd |
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Notes to the Financial Statements |
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Year ended 30 April 2025
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 57 Cashel Road, Tassagh.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Investments
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Shares in group undertakings |
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£ |
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Cost |
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At 1 May 2024 and 30 April 2025 |
200 |
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---- |
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Impairment |
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At 1 May 2024 and 30 April 2025 |
– |
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---- |
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Carrying amount |
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At 30 April 2025 |
200 |
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---- |
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At 30 April 2024 |
200 |
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---- |
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Investments do not include any investments listed on a recognised stock exchange
The company owns 100% of the issued share capital of the companies listed below.
The principle business activities of the group undertakings listed below are:
Name of Undertaking
Principle Business Activities
McGeown Commercials Ltd
Sale of Other Motor Vehicles
The financial performance and net asset value at the end of the last statement of account for the group undertakings listed above was:
Aggregate capital and reserves
Year End 30 April 2025
McGeown Commercials Ltd
1,740,009
Profit and (loss) for the year
Year End 30 April 2025
McGeown Commercials Ltd
208,141
McGeown Transport Ltd
Freight transport by road
McGeown Transport Ltd was put into liquidation post year end
5.
Debtors
|
2025 |
2024 |
|
£ |
£ |
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Other debtors |
30,000 |
– |
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-------- |
---- |
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6.
Creditors:
amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Other creditors |
4,500 |
4,200 |
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------- |
------- |
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7.
Related party transactions
No transactions with related parties were undertaken that are required to be disclosed.