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Registration number: NI023283

John McCabe Motors Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

John McCabe Motors Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

John McCabe Motors Limited

Company Information

Director | Mr John McCabe

Company secretary | Mrs Lorraine M McCabe

Registered office | 45-47 Rosetta Road BELFAST BT6 0LR

Solicitors | O'Hare Solicitors St Georges Building 37-41 High Street Belfast BT1 2AB

Accountants | McKeague Morgan & Company Chartered Accountants27 College Gardens Belfast BT9 6BS

John McCabe Motors Limited

(Registration number: NI023283)
Balance Sheet as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 268,377 | 246,724
Current assets |  |  |
Stocks | 5 | 214,717 | 212,079
Debtors | 6 | 44,204 | 40,065
Cash at bank and in hand |  | 179,709 | 185,304
|  | 438,630 | 437,448
Creditors: Amounts falling due within one year | 7 | (94,402) | (96,777)
Net current assets |  | 344,228 | 340,671
Total assets less current liabilities |  | 612,605 | 587,395
Creditors: Amounts falling due after more than one year | 7 | (19,475) | (30,231)
Provisions for liabilities |  | (10,544) | (12,156)
Net assets |  | 582,586 | 545,008
Capital and reserves |  |  |
Called up share capital |  | 2 | 2
Profit and loss account |  | 582,584 | 545,006
Total equity |  | 582,586 | 545,008

For the financial year ending 31 December 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 20 May 2026

.........................................

Mr John McCabe
Director

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
45-47 Rosetta Road
BELFAST
BT6 0LR

These financial statements were authorised for issue by the director on 20 May 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

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

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 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.

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.

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

2 | Accounting policies (continued)

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
Long leasehold land and buildings | 2% straight line
Plant and machinery | 25% 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.

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

2 | Accounting policies (continued)

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

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.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 10 (2024 - 10).

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

4 | Tangible assets

| Land and buildings £ | Motor vehicles £ | Other property, plant and equipment £ | Total £
Cost or valuation
At 1 January 2025 | 255,990 | 37,313 | 61,092 | 354,395
Additions | - | 35,300 | 2,331 | 37,631
Disposals | - | - | (259) | (259)
At 31 December 2025 | 255,990 | 72,613 | 63,164 | 391,767
Depreciation
At 1 January 2025 | 57,890 | 6,364 | 43,416 | 107,670
Charge for the year | 5,080 | 6,443 | 4,456 | 15,979
Eliminated on disposal | - | - | (259) | (259)
At 31 December 2025 | 62,970 | 12,807 | 47,613 | 123,390
Carrying amount
At 31 December 2025 | 193,020 | 59,806 | 15,551 | 268,377
At 31 December 2024 | 198,100 | 30,948 | 17,676 | 246,724

Included within the net book value of land and buildings above is £193,021 (2024 - £198,100) in respect of freehold land and buildings.

5 | Stocks

| 2025 £ | 2024 £
Other inventories | 214,717 | 212,079

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 34,929 | 30,984
Prepayments | 9,275 | 8,829
Other debtors | - | 252
| 44,204 | 40,065

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Bank loans and overdrafts | 9 | 4,931 | 10,000
HP and finance lease liabilities |  | 4,198 | 4,199
Trade creditors |  | 16,507 | 13,548
Corporation tax liability |  | 18,915 | 10,749
Taxation and social security |  | 12,301 | 22,682
Other creditors |  | 1,493 | 2,586
Loans from directors |  | 16,044 | 15,230
Accruals and deferred income |  | 20,013 | 17,783
|  | 94,402 | 96,777
Due after one year |  |  |
Loans and borrowings | 9 | - | 6,558
Obligations under finance leases |  | 19,475 | 23,673
|  | 19,475 | 30,231

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 2 | 2 | 2 | 2

John McCabe Motors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

9 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 4,931 | 10,000
Hire purchase contracts | 4,198 | 4,199
| 9,129 | 14,199

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | - | 6,558
Hire purchase contracts | 19,475 | 23,673
| 19,475 | 30,231

Bank borrowings

A bounce bank loan is denominated in sterling with a commercial interest rate, and the final instalment is due on 30 June 2026. The carrying amount at year end is £4,931 (2024 - £16,558). The government has quaranteed 100% of the bounce back loan.