McCausland (Holdings) Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—9

1. General Information

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

The address of its registered office is:

33-35 Grosvenor Road

Belfast

BT12 4GR

Northern Ireland

The presentation currency is £ Sterling and the level of rounding is to the nearest £.

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.

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.

2.2. Going Concern Disclosure

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

2.3. Significant judgements and estimations

The preparation of financial statements in compliance with FRS 102 requires the directors to make certain judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised and in any future periods affected.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Fixed Assets

The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The directors regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.

2.4. 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.

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.5. Tangible Fixed Assets and Depreciation

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:

Plant & Machinery	15% - 50% straight line
Motor Vehicles	10% - 50% straight line
Fixtures & Fittings	20% - 50% straight line

2.6. Leasing and Hire Purchase Contracts

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 statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

2.7. Stocks and Work in Progress

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.

2.8. Taxation

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 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 asset reflects 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.

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

2.9. Pensions

The company operates a defined contribution pension scheme.

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.

2.10. Investments

Investments in subsidiary undertakings are initially recognised at cost and subsequently measured at cost less any accumulated impairment losses.

At each reporting date, the company assesses whether there is any indication that an investment may be impaired. If such an indication exists, the recoverable amount of the investment is estimated and any impairment loss is recognised immediately in profit or loss. Investments are derecognised on disposal or when no future economic benefits are expected to arise from the investment.

2.11. 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.

2.12. 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.

2.13. 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.

2.14. 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 statement of comprehensive income 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.

2.15. 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.

2.16. 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.

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tax on Profit

	2026	2025
	£	£
Current tax
UK Corporation Tax	-	22,666
Deferred Tax
Deferred taxation	(2,663 )	-


Total tax charge for the period	(2,663 )	22,666

	2026	2025
	£	£
Profit before tax	(47,788)	51,718

Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate)	(11,947 )	12,930
Goodwill/depreciation not allowed for tax	20,816	22,596
Capital allowances	(2,550 )	(12,860 )
Group relief	(6,319 )	-

Total tax charge for the period	-	22,666

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 July 2025	226,619	453,970	151,012	831,601
Additions	1,320	-	-	1,320
Disposals	-	(86,050 )	(12,000 )	(98,050 )

As at 30 June 2026	227,939	367,920	139,012	734,871

Depreciation
As at 1 July 2025	213,842	133,656	132,991	480,489
Provided during the period	6,925	74,169	2,168	83,262
Disposals	-	(47,617 )	-	(47,617 )

As at 30 June 2026	220,767	160,208	135,159	516,134

Net Book Value
As at 30 June 2026	7,172	207,712	3,853	218,737

As at 1 July 2025	12,777	320,314	18,021	351,112

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

6. Investments

	Subsidiaries
	£
Cost or Valuation
As at 1 July 2025	1

As at 30 June 2026	1

Provision
As at 1 July 2025	-

As at 30 June 2026	-

Net Book Value
As at 30 June 2026	1

As at 1 July 2025	1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Name of Undertaking	Registered office	Class of shares held	Direct Holding
Value Car Parks Limited	33-35 Grosvenor Road, Belfast BT 12 4GN, Northern Ireland	Ordinary £1 shares	100%

Subsidiary Undertaking

Value Car Parks Limited

The principal activity of Value Car Parks Limited is operation of car park.

7. Stocks

	2026	2025
	£	£
Stock	1,170,223	1,103,530

8. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	33,869	36,428
Prepayments and accrued income	6,519	20,041
Other debtors	2,363,390	2,772,475

	2,403,778	2,828,944
Due after more than one year
Other debtors	3,951,057	3,242,246
Amounts owed by group undertakings	5,950,000	6,850,000

	9,901,057	10,092,246

	12,304,835	12,921,190

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

9. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	1,796,510	2,038,306
Trade creditors	25,813	5,908
Bank loans and overdrafts	275,235	555,196
Corporation tax	1,595	22,666
Other taxes and social security	21,925	29,008
Other creditors	160,788	74,967
Accruals and deferred income	7,721	11,753

	2,289,587	2,737,804

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

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	1,722,784	1,479,671
Loans and Borrowings	214,543	238,946
Amounts owed to group undertakings	1,000,000	1,200,000

	2,937,327	2,918,617

Bank borrowings are secured via a number of fixed and floating charges over the assets of the company in favour of Northern Bank Limited.

11. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	1,796,510	2,038,306
Later than one year and not later than five years	1,722,784	1,479,671

	3,519,294	3,517,977

	3,519,294	3,517,977

12. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	7,600	7,600

13. Related Party Transactions

The Company has taken advantage of the exemption in section 33.1A of FRS 102 from disclosing transactions with entities that are wholly owned within the same group. This exemption applies as the company is wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available.

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McCausland (Holdings) Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

14. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

15. Relationship between entity and parents

The parent of the largest group in which these financial statements are consolidated is McCausland Group Limited, incorporated in the United Kingdom.

16. Audit Information

The auditor's report on the accounts of McCausland (Holdings) Limited for the year ended 30 June 2026 was unqualified.

The auditor's report was signed by Brian Stewart (Senior Statutory Auditor) for and on behalf of RBCA Limited , Statutory Auditor.

RBCA Limited

Linenhall Exchange

26 Linenhall Street

Belfast

Antrim

BT2 8BG

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		218,737		351,112
Investments	6		1		1

			218,738		351,113
CURRENT ASSETS
Stocks	7	1,170,223		1,103,530
Debtors	8	12,304,835		12,921,190
Cash at bank and in hand		4,742		-

		13,479,800		14,024,720
Creditors: Amounts Falling Due Within One Year	9	(2,289,587 )		(2,737,804 )

NET CURRENT ASSETS (LIABILITIES)			11,190,213		11,286,916

TOTAL ASSETS LESS CURRENT LIABILITIES			11,408,951		11,638,029

Creditors: Amounts Falling Due After More Than One Year	10		(2,937,327 )		(2,918,617 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,559 )		(23,222 )

NET ASSETS			8,451,065		8,696,190

CAPITAL AND RESERVES
Called up share capital	12		7,600		7,600
Profit and Loss Account			8,443,465		8,688,590

SHAREHOLDERS' FUNDS			8,451,065		8,696,190