Markethill Livestock & Farm Sales Ltd

	Page
Company Information	1
Balance Sheet	2—3
Notes to the Financial Statements	4—8

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Balance Sheet

As At 31 January 2026

Balance Sheet

Registered number: NI040006

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		2,897,953		2,859,802
Investments	6		130,816		104,193

			3,028,769		2,963,995
CURRENT ASSETS
Stocks	7	4,400		4,400
Debtors	8	6,049,976		3,946,338
Cash at bank and in hand		247		140

		6,054,623		3,950,878
Creditors: Amounts Falling Due Within One Year	9	(5,576,235 )		(3,453,850 )

NET CURRENT ASSETS (LIABILITIES)			478,388		497,028

TOTAL ASSETS LESS CURRENT LIABILITIES			3,507,157		3,461,023

Creditors: Amounts Falling Due After More Than One Year	10		(657,136 )		(712,399 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(38,802 )		(52,940 )

NET ASSETS			2,811,219		2,695,684

CAPITAL AND RESERVES
Called up share capital	13		10,000		10,000
Fair value reserve	15		16,813		7,535
Profit and Loss Account			2,784,406		2,678,149

SHAREHOLDERS' FUNDS			2,811,219		2,695,684

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Markethill Livestock & Farm Sales Ltd

Balance Sheet (continued)

As At 31 January 2026

For the year ending 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Hampton George Hewitt

Director

29 June 2026

The notes on pages 4 to 8 form part of these financial statements.

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Markethill Livestock & Farm Sales Ltd

Notes to the Financial Statements

For The Year Ended 31 January 2026

Notes to the Financial Statements

1. General Information

Markethill Livestock & Farm Sales Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI040006 . The registered office is Quaker Buildings, High Street, Lurgan, Craigavon, BT66 8BB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It has been fully amortised.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	25% on reducing balance, 2% on cost and nil
Plant & Machinery	25%, 15% and 10% on reducing balance
Fixtures & Fittings	15% on reducing balance
Computer Equipment	25% on reducing balance

No depreciation has been charged on Freehold Land.

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Markethill Livestock & Farm Sales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2.9. Government Grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 41 (2025: 43)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 February 2025	100,000

As at 31 January 2026	100,000

Amortisation
As at 1 February 2025	100,000

As at 31 January 2026	100,000

...CONTINUED

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Markethill Livestock & Farm Sales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

Net Book Value
As at 31 January 2026	-

As at 1 February 2025	-

5. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 February 2025	2,923,837	872,918	13,195	115,673	3,925,623
Additions	115,000	190	1,148	1,875	118,213
Disposals	-	(29,052 )	-	-	(29,052 )

As at 31 January 2026	3,038,837	844,056	14,343	117,548	4,014,784

Depreciation
As at 1 February 2025	303,483	660,602	3,621	98,115	1,065,821
Provided during the period	27,048	32,349	1,500	4,526	65,423
Disposals	-	(14,413 )	-	-	(14,413 )

As at 31 January 2026	330,531	678,538	5,121	102,641	1,116,831

Net Book Value
As at 31 January 2026	2,708,306	165,518	9,222	14,907	2,897,953

As at 1 February 2025	2,620,354	212,316	9,574	17,558	2,859,802

6. Investments

	Subsidiaries	Listed	Unlisted	Total
	£	£	£	£
Cost or Valuation
As at 1 February 2025	100	102,593	1,500	104,193
Additions	-	17,757	-	17,757
Disposals	-	(412 )	-	(412 )
Fair value adjustments	-	9,278	-	9,278

As at 31 January 2026	100	129,216	1,500	130,816

Provision
As at 1 February 2025	-	-	-	-

As at 31 January 2026	-	-	-	-

Net Book Value
As at 31 January 2026	100	129,216	1,500	130,816

As at 1 February 2025	100	102,593	1,500	104,193

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Markethill Livestock & Farm Sales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

7. Stocks

	2026	2025
	£	£
Stock	4,400	4,400

8. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	5,771,941	3,682,374
Amounts owed by group undertakings	4,815	4,815
Other debtors	273,220	259,149

	6,049,976	3,946,338

9. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	6,907	5,958
Trade creditors	848,604	644,502
Bank loans and overdrafts	4,322,297	2,507,970
Other creditors	249,814	160,760
Taxation and social security	148,613	134,660

	5,576,235	3,453,850

10. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	6,617	12,868
Bank loans	352,414	391,296
Other creditors	298,105	308,235

	657,136	712,399

11. Secured Creditors

Of the creditors the amounts noted below are secured.

Danske Bank hold a Charge over all Book Debts and a Floating Charge over all Property of the Company. Danske Bank also holds a fixed charge over 25 Acres of Land at Bryandrum Road, Markethill, Co Armagh and a fixed charge over 15 Acres of Land at Dobbin Road, Portadown, Co Armagh and a fixed charge over all that and those lands and premises situate at 6.8 acres at Castleview Road, Markethill, Co. Armagh.

	2026		2025
	£		£
Bank loans and overdrafts	4,674,711		2,899,266

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Markethill Livestock & Farm Sales Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

12. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	6,907	5,958
Later than one year and not later than five years	6,617	12,868

	13,524	18,826

	13,524	18,826

13. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	10,000	10,000

14. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	At start of period £	Amounts advanced £	Amounts repaid £	Amounts written off £	At end of period £
Mr H & Mrs S Hewitt	88,205	-	-	-	88,205
Mr H & Mrs S Hewitt	76,548	-	(76,548)	-	-
Mr H & Mrs S Hewitt	-	71,918	(3,280)	-	68,638

Loan balances are repayable on demand. The interest rate applied is the official rate for beneficial loan arrangements.

15. Reserves

	Fair value reserve	Profit and Loss Account
	£	£
As at 1 February 2025	7,535	2,678,149
Profit for the year and total comprehensive income	-	207,535

Dividends paid	-	(92,000)
Transfer to/from Fair value reserve	-	(9,278)
Transfer to/from Profit & Loss Account	9,278	-

As at 31 January 2026	16,813	2,784,406

16. Related Party Transactions

Total dividends of £77,000 were paid to the directors during the year.

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Directors	Mr Hampton George Hewitt
	Mrs Sharon Carol Hewitt

Secretary	Mrs Sharon Carol Hewitt

Company Number	NI040006

Registered Office	Quaker Buildings
	High Street
	Lurgan
	Craigavon
	BT66 8BB

Accountants	McCleary & Company Ltd.
	Chartered Accountants and Registered Auditors
	Quaker Buildings
	High Street
	Lurgan
	Co. Armagh
	BT66 8BB

Bankers	Danske Bank
	60 Main Street
	Markethill
	Co Armagh
	BT60 1PL