McCauslands Airport Garage Limited

	Page
Strategic Report	1
Directors' Report	2
Independent Auditor's Report	3—5
Statement of Comprehensive Income	6
Balance Sheet	7—8
Statement of Changes in Equity	9
Notes to the Financial Statements	10—18

The directors present their strategic report for the year ended 30 June 2026.

Principal Activity

The company's principal activity is the operation of car parks.

Review of the Business

The directors aim to present a balanced and comprehensive review of the development and performance of the company during the year and its position as at 30 June 2026. This review is consistent with the size and nature of the business and is written in the context of the risks and uncertainties it faces.

The directors are pleased with the company results for the year. The directors continue to identify opportunities to increase turnover and continue to monitor and reduce costs where possible. The directors anticipate higher volumes of trade in relation to the company's continuing activities, and are hopeful of maintaining market share.

Principal Risks and Uncertainties

The key risks and uncertainties affecting the company are considered to relate to competition from other businesses, employee retention and continuing macro-economic pressures impacting consumer spending.

Financial key performance indicators

The directors consider that the key performance indicators are those that communicate the financial performance and strength of the company as a whole, these being turnover, gross margin, operating profit and net assets.

There has been an increase in turnover of 17.6% from £5m to £5.9m. The gross profit margin has increased from 95% in 2025 to 96% in 2026. The company had a profit before tax for the year of £2,143,439 compared to profit before tax of £1,578,515 in 2025. The net assets have increased from £6.9m in 2025 to £8.2m in 2026.

On behalf of the board

Mr Christopher McCausland

Director

23/09/2026

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McCauslands Airport Garage Limited

Company No. NI020085

Directors' Report For The Year Ended 30 June 2026

Directors' Report

The directors present their report and the financial statements for the year ended 30 June 2026.

Directors

The directors who held office during the year were as follows:

Mr Peter McCausland

Ms Emma McCausland

Mr Christopher McCausland

Mr Jonathan McCausland

Mr Michael McCausland

Statement of Directors' Responsibilities

The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

On behalf of the board

Mr Christopher McCausland

Director

23/09/2026

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Independent Auditor's Report

to the Members of

McCauslands Airport Garage Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of McCauslands Airport Garage Limited for the year ended 30 June 2026 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 30 June 2026 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

McCauslands Airport Garage Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our sector experience through discussion with the Directors (as required by auditing standards).

We had regard to laws and regulations in areas that directly affect the financial statements including financial reporting and taxation legislation. We considered that extent of compliance with those laws and regulations as part of our procedures on the related financial statement items.

With the exception of any known or possible non-compliance, and as required by auditing standards, our work in respect of these was limited to enquiry of the Directors.

We communicated applicable laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.

We addressed the risk of fraud through management override of controls, by testing the appropriateness of journal entries, and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential basis; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

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Independent Auditor's Report (continued)

to the Members of

McCauslands Airport Garage Limited

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Brian Stewart (Senior Statutory Auditor)

for and on behalf of RBCA Limited , Statutory Auditor

23/09/2026

RBCA Limited

Chartered Accountants

Linenhall Exchange, 26 Linenhall Street

Belfast

BT2 8BG

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McCauslands Airport Garage Limited

Statement of Comprehensive Income

For The Year Ended 30 June 2026

Statement of Comprehensive Income

		2026	2025
	Notes	£	£
TURNOVER	4	5,867,659	4,989,919
Cost of sales		(239,117 )	(251,330 )

GROSS PROFIT		5,628,542	4,738,589

Administrative expenses		(3,320,907 )	(3,007,006 )
Other operating income		510	2,633

OPERATING PROFIT	6	2,308,145	1,734,216
(Loss)/profit on disposal of fixed assets		(2,000 )	1,000
Interest payable and similar charges	11	(162,706 )	(156,701 )

PROFIT BEFORE TAXATION		2,143,439	1,578,515
Tax on Profit	12	(460,226 )	(326,235 )

PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR		1,683,213	1,252,280
OTHER COMPREHENSIVE INCOME FOR THE YEAR		-	-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR		1,683,213	1,252,280

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

The notes on pages 10 to 18 form part of these financial statements.

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McCauslands Airport Garage Limited

Balance Sheet

As At 30 June 2026

Balance Sheet

Registered number: NI020085

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	13		275,574		297,090
Tangible Assets	14		9,971,043		9,761,886
Investment Properties	15		3,057,612		-

			13,304,229		10,058,976
CURRENT ASSETS
Stocks	16	65,443		17,594
Debtors	17	464,774		561,521
Cash at bank and in hand		308,328		296,241

		838,545		875,356
Creditors: Amounts Falling Due Within One Year	18	(2,681,658 )		(2,036,358 )

NET CURRENT ASSETS (LIABILITIES)			(1,843,113 )		(1,161,002 )

TOTAL ASSETS LESS CURRENT LIABILITIES			11,461,116		8,897,974

Creditors: Amounts Falling Due After More Than One Year	19		(3,152,416 )		(1,891,458 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(90,262 )		(85,291 )

NET ASSETS			8,218,438		6,921,225

CAPITAL AND RESERVES
Called up share capital	23		75		75
Revaluation reserve			4,636,820		4,636,820
Capital redemption reserve			(316,550 )		(316,550 )
Profit and Loss Account			3,898,093		2,600,880

SHAREHOLDERS' FUNDS			8,218,438		6,921,225

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McCauslands Airport Garage Limited

Balance Sheet (continued)

As At 30 June 2026

On behalf of the board

Mr Christopher McCausland

Director

23/09/2026

The notes on pages 10 to 18 form part of these financial statements.

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McCauslands Airport Garage Limited

Statement of Changes in Equity

For The Year Ended 30 June 2026

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Capital Redemption	Profit and Loss Account	Total
	£	£	£	£	£
As at 1 July 2024	75	4,636,820	(316,550 )	1,548,600	5,868,945
Profit for the year and total comprehensive income	-	-	-	1,252,280	1,252,280

Dividends paid	-	-	-	(200,000)	(200,000)

As at 30 June 2025 and 1 July 2025	75	4,636,820	(316,550 )	2,600,880	6,921,225


Profit for the year and total comprehensive income	-	-	-	1,683,213	1,683,213

Dividends paid	-	-	-	(386,000)	(386,000)

As at 30 June 2026	75	4,636,820	(316,550 )	3,898,093	8,218,438

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McCauslands Airport Garage Limited

Notes to the Financial Statements

For The Year Ended 30 June 2026

Notes to the Financial Statements

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. Statement of Compliance

The financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

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.

3.2. Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The company has taken advantage of the exemption under FRS 102.1.12 from preparing a cash flow statement in these individual financial statements. This is because the company is a qualifying subsidiary of McCausland Group Limited, whose consolidated financial statements include a cash flow statement and are publicly available.

3.3. Going Concern Disclosure

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

3.4. 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.

Management estimates the useful economic lives and residual values of tangible and intangible assets so as to write off their cost over the expected period of use. These estimates require judgement and are reviewed annually.

3.5. 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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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

3.6. Intangible Fixed Assets and Amortisation - Other Intangible

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset Class Amortisation method and rate

Software costs 4-10 years straight line

3.7. Tangible Fixed Assets and Depreciation

Tangible Fixed 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 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:

Freehold	1% straight line
Plant & Machinery	10%- 50% straight line
Motor Vehicles	10%- 50% straight line
Fixtures & Fittings	10%- 50% straight line

3.8. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

3.9. 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.

3.10. 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.

3.11. Foreign Currencies

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.

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

3.12. Taxation

The tax expense for the period comprises current 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 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.

3.13. 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.

3.14. 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.

3.15. 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.

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

3.16. 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.

3.17 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.

3.18 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.

3.19 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.

4. Turnover

Analysis of turnover by class of business is as follows:

	2026	2025
	£	£
Commissions received	1,750	2,647
Rendering of services	5,844,151	4,965,529
Rental income from investment property	21,758	21,743

	5,867,659	4,989,919

5. Other Operating Income

	2026	2025
	£	£
Other operating income	510	2,633

	510	2,633

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

6. Operating Profit

The operating profit is stated after charging:

	2026	2025
	£	£
Depreciation of tangible fixed assets	184,947	120,987
Amortisation of intangible fixed assets	42,596	37,924

7. Auditor's Remuneration

Remuneration received by the company's auditors and their associates during the year was as follows:

	2026	2025
	£	£
Audit Services
Audit of the company's financial statements	3,150	3,000

8. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2026	2025
	£	£
Wages and salaries	1,955,899	1,808,602
Social security costs	248,821	229,212
Other pension costs	28,994	27,217

	2,233,714	2,065,031

9. Average Number of Employees

Average number of employees, including directors, during the year was: 85 (2025: 78)

10. Directors' remuneration

	2026	2025
	£	£
Emoluments	472,475	455,880

11. Interest Payable and Similar Charges

	2026	2025
	£	£
Bank loans and overdrafts	155,456	151,733
Finance charges payable under finance leases and hire purchase contracts	7,250	4,211
Foreign exchange charges	-	757

	162,706	156,701

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

12. Tax on Profit

The tax charge on the profit for the year was as follows:

	2026	2025
	£	£
Current tax
UK Corporation Tax	455,255	260,140
Deferred Tax
Deferred taxation	4,971	66,095


Total tax charge for the period	460,226	326,235

The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:

	2026	2025
	£	£
Profit before tax	2,143,439	1,578,515

Tax on profit at 25% (UK standard rate)	535,860	394,629
Goodwill/depreciation not allowed for tax	56,886	39,773
Expenses not deductible for tax purposes	3,758	153
Capital allowances	(62,298 )	(49,284 )
Group relief	(78,951 )	(125,131 )

Total tax charge for the period	455,255	260,140

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

13. Intangible Assets

	Software Development Costs	Software Enhancement	Total
	£	£	£
Cost
As at 1 July 2025	368,737	4,200	372,937
Additions	-	21,080	21,080

As at 30 June 2026	368,737	25,280	394,017

Amortisation
As at 1 July 2025	73,747	2,100	75,847
Provided during the period	36,874	5,722	42,596

As at 30 June 2026	110,621	7,822	118,443

Net Book Value
As at 30 June 2026	258,116	17,458	275,574

As at 1 July 2025	294,990	2,100	297,090

14. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£	£
Cost
As at 1 July 2025	9,470,136	741,440	360,035	563,683	11,135,294
Additions	67,906	42,528	163,326	123,344	397,104
Disposals	-	-	(11,250 )	-	(11,250 )

As at 30 June 2026	9,538,042	783,968	512,111	687,027	11,521,148

Depreciation
As at 1 July 2025	79,922	600,310	169,231	523,945	1,373,408
Provided during the period	34,424	57,511	59,963	33,049	184,947
Disposals	-	-	(8,250 )	-	(8,250 )

As at 30 June 2026	114,346	657,821	220,944	556,994	1,550,105

Net Book Value
As at 30 June 2026	9,423,696	126,147	291,167	130,033	9,971,043

As at 1 July 2025	9,390,214	141,130	190,804	39,738	9,761,886

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McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

15. Investment Property

	2026
	£
Fair Value
As at 1 July 2025	-
Additions	3,057,612

As at 30 June 2026	3,057,612

16. Stocks

	2026	2025
	£	£
Stock	65,443	17,594

17. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	66,720	62,246
Prepayments and accrued income	34,199	37,850
Other debtors	13,855	11,425
Amounts owed by group undertakings	350,000	450,000

	464,774	561,521

18. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	69,560	41,246
Trade creditors	42,421	51,974
Bank loans and overdrafts	443,754	227,374
Other creditors	1,207,985	1,137,059
Corporation tax	499,086	260,660
Taxation and social security	342,789	277,885
Accruals and deferred income	76,063	40,160

	2,681,658	2,036,358

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

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	106,547	90,530
Bank loans	3,045,869	1,800,928

	3,152,416	1,891,458

A prior-year misclassification between hire purchase and bank loans has been corrected in the current year, with £40,880 reclassified from hire purchase <1 year to bank loans <1 year and £431,952 reclassified from hire purchase >1 year to bank loans >1 year.

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Page 18

McCauslands Airport Garage Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 June 2026

20. Loans

An analysis of the maturity of loans is given below:

	2026	2025
	£	£
Amounts falling due within one year or on demand:
Bank loans	443,754	227,374

	2026	2025
	£	£
Amounts falling due between one and five years:
Bank loans	3,045,869	1,800,928

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

21. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	69,560	41,246
Later than one year and not later than five years	106,547	90,530

	176,107	131,776

	176,107	131,776

22. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 July 2025	85,291	85,291
Reversals	4,971	4,971

Balance at 30 June 2026	90,262	90,262

23. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
75 Ordinary Shares of £ 1.00 each	75	75

24. Related Party Disclosures

The Company has taken advantage of the exemption in Section 33.1A of FRS102 from disclosing transactions with entities that are wholly owned within the same group.This exemption applies as the Company is a wholly owned subsidiary of McCausland Group Limited, and its results are included in the consolidated financial statements of the parent, which are publicly available.

25. Controlling Parties

The ultimate parent undertaking is McCausland Group Limited (incorporated in Northern Ireland). Its registered office is 33 - 35 Grosvenor Road, Belfast, Northern Ireland, BT12 4GR .

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