Registration number: NI031699

MacGen Power Generation Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 10

MacGen Power Generation Limited

Company Information

Director

Mr R F McIntyre

Company secretary

Mr M Kinoulty

Registered office

MacGen Power Generation Limited 12 Drumagarner Road Kilrea BT51 5TB

Solicitors

McCormick Mallon 69 Main Street Maghera BT46 5AB

Auditors

McKeague Morgan & Company Statutory Auditor27 College Gardens Belfast BT9 6BS

MacGen Power Generation Limited

(Registration number: NI031699)
Balance Sheet as at 31 October 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	216,467	162,710
Investments	5	525,946	523,896
		742,413	686,606
Current assets
Stocks	6	2,174,892	2,529,939
Debtors	7	5,220,871	1,342,931
Cash at bank and in hand		1,653,264	1,152,317
		9,049,027	5,025,187
Creditors: Amounts falling due within one year	8	(5,389,089)	(1,641,253)
Net current assets		3,659,938	3,383,934
Total assets less current liabilities		4,402,351	4,070,540
Provisions for liabilities		(21,036)	-
Net assets		4,381,315	4,070,540
Capital and reserves
Called up share capital		2	2
Profit and loss account		4,381,313	4,070,538
Total equity		4,381,315	4,070,540

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 30 July 2026
 

.........................................

Mr R F McIntyre

Director

MacGen Power Generation Limited

Notes to the Financial Statements for the Year Ended 31 October 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
MacGen Power Generation Limited
12 Drumagarner Road
Kilrea
BT51 5TB
Northern Ireland

These financial statements were authorised for issue by the director on 30 July 2026.

2	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.

Going concern

The financial statements have been prepared on a going concern basis.

MacGen Power Generation Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Audit report

The Independent Auditor's Report was qualified. The financial statements for the prior year were unaudited and as a result we did not observe the counting of physical inventories at the beginning of the period and we were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 October 2024, which are stated in the balance sheet at £2,529,939.

Since opening and closing inventories enter into the determination of the financial performance and cash flows, we were unable to determine whether any adjustments might have been necessary in respect of the profit for the year reported in the statement of comprehensive income and the net cash flows from operating activities reported in the statement of cash flows. .

The name of the Senior Statutory Auditor who signed the audit report on 30 July 2026 was Darren McKeown, who signed for and on behalf of McKeague Morgan & Company.

Revenue recognition

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

MacGen Power Generation Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

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:

Asset class	Depreciation method and rate
Adaptations to premises	5% straight line
Motor vehicles	25% straight line
Plant and machinery	20% straight line

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

MacGen Power Generation Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

2	Accounting policies (continued)

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 11 (2024 - 9).

MacGen Power Generation Limited

Notes to the Financial Statements for the Year Ended 31 October 2025 (continued)

4	Tangible assets

	Land and buildings £	Properties under construction  £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 November 2024	127,204	33,438	122,724	217,564	500,930
Additions	-	-	8,322	133,612	141,934
Disposals	-	-	-	(51,474)	(51,474)
Transfers	-	(33,438)	-	-	(33,438)
At 31 October 2025	127,204	-	131,046	299,702	557,952
Depreciation
At 1 November 2024	104,944	-	99,811	133,465	338,220
Charge for the year	6,360	-	5,727	42,652	54,739
Eliminated on disposal	-	-	-	(51,474)	(51,474)
At 31 October 2025	111,304	-	105,538	124,643	341,485
Carrying amount
At 31 October 2025	15,900	-	25,508	175,059	216,467
At 31 October 2024	22,260	33,438	22,913	84,099	162,710

5	Investments

	2025 £	2024 £
Investments in subsidiaries	100	-
Other investments	525,846	523,896
	525,946	523,896