Registration number: NI628721

MK Sales & Transport Ltd

Contents

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

MK Sales & Transport Ltd

Company Information

Director

Micheail Kennon

Registered office

2 Garveys Road Dorsey Newry County Down Northern Ireland BT35 0QE

Accountants

SP McKeown & Co Ltd Chartered Certified Accountants & Tax Advisors108 Francis Street Shankhill Lurgan Armagh Co. Armagh BT66 6DN

MK Sales & Transport Ltd

(Registration number: NI628721)
Balance Sheet as at 31 January 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	50,555	13,060
Current assets
Stocks	5	62,771	63,720
Debtors	6	47,063	25,078
Cash at bank and in hand		27,740	379
		137,574	89,177
Creditors: Amounts falling due within one year	7	(96,514)	(66,678)
Net current assets		41,060	22,499
Total assets less current liabilities		91,615	35,559
Creditors: Amounts falling due after more than one year	7	(42,483)	(26,285)
Provisions for liabilities		(9,606)	(2,482)
Net assets		39,526	6,792
Capital and reserves
Called up share capital	8	1	1
Retained earnings		39,525	6,791
Shareholders' funds		39,526	6,792

For the financial 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.

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 26 August 2026
 

......................................... Micheail Kennon Director

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

1	General information

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

The address of its registered office is:
2 Garveys Road
Dorsey
Newry
County Down
BT35 0QE
Northern Ireland

These financial statements were authorised for issue by the director on 26 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.

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

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	20% Reducing balance basis
Office Equipment	20% Reducing balance basis

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.

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

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.

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.

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2025 - 1).

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

4	Tangible assets

	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2025	738	21,316	22,054
Additions	-	50,208	50,208
At 31 January 2026	738	71,524	72,262
Depreciation
At 1 February 2025	296	8,698	8,994
Charge for the year	148	12,565	12,713
At 31 January 2026	444	21,263	21,707
Carrying amount
At 31 January 2026	294	50,261	50,555
At 31 January 2025	442	12,618	13,060

5

Stocks

	2026 £	2025 £
Other inventories	62,771	63,720

6

Debtors

Current	2026 £	2025 £
Trade debtors	43,349	21,891
Other debtors	3,714	3,187
	47,063	25,078

7

Creditors

Creditors: amounts falling due within one year

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

	Note	2026 £	2025 £
Due within one year
Loans and borrowings	9	45,209	15,130
Trade creditors		21,617	1,805
Taxation and social security		10,689	13,554
Accruals and deferred income		2,950	1,850
Other creditors		16,049	34,339
		96,514	66,678

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	9	42,483	26,285

8	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary Share of £1 each	1	1	1	1

9	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	42,483	26,285

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	13,665	5,426
Bank overdrafts	31,544	9,704
	45,209	15,130

10

Dividends

Interim dividends paid

		2026 £		2025 £
Interim dividend of £32,000.00 per each Ordinary Share		32,000		32,000

11	Related party transactions

MK Sales & Transport Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2026

Director's remuneration

The director's remuneration for the year was as follows:

	2026 £	2025 £
Remuneration	12,570	18,855

Dividends paid to the director

		2026 £		2025 £
Micheail Kennon
Dividend Issued at 31.01.2026		32,000		32,000