Registration number: NI601304

P MCKENNA TRANSPORT LTD

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 11

P MCKENNA TRANSPORT LTD

Company Information

Director

Mr Paul McKenna

Registered office

112 Hanslough Road Middletown Armagh BT60 4JJ

Accountants

SP McKeown & Co Ltd Chartered Certified Accountants & Tax Advisors5 Lower Catherine Street Newry Co Down BT35 6BE

P MCKENNA TRANSPORT LTD

(Registration number: NI601304)
Balance Sheet as at 30 November 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	614,016	562,295
Current assets
Stocks	5	70,000	30,000
Debtors	6	262,335	352,245
Cash at bank and in hand		79,730	24,474
		412,065	406,719
Creditors: Amounts falling due within one year	7	(573,399)	(370,408)
Net current (liabilities)/assets		(161,334)	36,311
Total assets less current liabilities		452,682	598,606
Creditors: Amounts falling due after more than one year	7	(336,739)	(370,906)
Provisions for liabilities		(46,151)	(67,477)
Net assets		69,792	160,223
Capital and reserves
Called up share capital	8	1	1
Retained earnings		69,791	160,222
Shareholders' funds		69,792	160,223

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 25 August 2026
 

......................................... Mr Paul McKenna Director

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
112 Hanslough Road
Middletown
Armagh
BT60 4JJ

These financial statements were authorised for issue by the director on 25 August 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

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

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
Plant and machinery	25% Reducing Balance
Office Equipment	15% Reducing Balance
Fixtures & fittings	15% Reducing Balance

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.

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

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 7 (2024 - 7).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 December 2024	-	4,406	1,210,261	1,214,667
Additions	48,661	781	191,682	241,124
At 30 November 2025	48,661	5,187	1,401,943	1,455,791
Depreciation
At 1 December 2024	-	2,581	649,791	652,372
Charge for the year	973	392	188,038	189,403
At 30 November 2025	973	2,973	837,829	841,775
Carrying amount
At 30 November 2025	47,688	2,214	564,114	614,016
At 30 November 2024	-	1,825	560,470	562,295

Included within the net book value of land and buildings above is £47,688 (2024 - £Nil) in respect of freehold land and buildings.
 

5

Stocks

	2025 £	2024 £
Work in progress	70,000	30,000

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

6

Debtors

Current	2025 £	2024 £
Trade debtors	244,590	308,654
Prepayments	(9,800)	-
Other debtors	27,545	43,591
	262,335	352,245

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	153,072	118,999
Trade creditors		176,673	89,790
Taxation and social security		19,615	18,058
Accruals and deferred income		3,429	2,861
Other creditors		220,610	140,700
		573,399	370,408

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	336,739	370,906

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Share of £1 each	1	1	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	19,461	24,827
Hire purchase contracts	317,278	346,079
	336,739	370,906

Current loans and borrowings

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

	2025 £	2024 £
Bank borrowings	5,366	5,236
Hire purchase contracts	147,706	113,763
	153,072	118,999

10

Dividends

Interim dividends paid

		2025 £		2024 £
Interim dividend of £Nil (2024 - £1.00) per each Ordinary Share		-		29,000

11	Related party transactions

P MCKENNA TRANSPORT LTD

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2025

Dividends paid to the director

		2025 £		2024 £
Mr Paul McKenna
Dividends		-		47,000

Loans from related parties

2025	Other related parties £	Total £
At start of period	140,567	140,567
At end of period	140,567	140,567

2024	Other related parties £	Total £
At start of period	140,567	140,567
At end of period	140,567	140,567