Magowan Tyres (n.i.) Limited in Newtownabbey, BT36 5RZ

Description

Data updated on: 01-11-2023

This business is located in Newtownabbey with reg. no. NI019865. This firm was started in 1986. The office of this firm is situated at 2 Houston Business Park Doagh Road. The post code is BT36 5RZ. This firm's principal business activity number is 45310 meaning Wholesale trade of motor vehicle parts and accessories. The most recent filed accounts documents describe the period up to 2022-12-31 and the most current annual confirmation statement was submitted on 2023-03-03.

There seems to be a group of five directors managing the limited company at the current moment, namely David M., Adam D., Darryl M. and 2 others listed below who have been performing the directors responsibilities since December 2021. Moreover, the managing director's assignments are often aided with by a secretary - Georgina M., who was officially appointed by the following limited company 38 years ago.

Darryl M. is the individual who controls this firm, owns 1/2 or less of company shares.

Financial data based on annual reports

Profit & Loss
Date of Accounts	2016-09-30	2017-09-30	2018-12-31	2019-12-31	2020-12-31	2021-12-31	2022-12-31
Currency

Balance Sheet
Cash Bank On Hand	723 348	1 168 123	546 638	562 067	871 932	2 748 083	339 807
Current Assets	8 119 564	10 625 190	10 092 161	10 034 167	10 979 626	11 816 921	11 439 591
Debtors	3 682 426	4 547 570	4 274 001	4 086 397	4 206 638	3 972 170	4 735 381
Net Assets Liabilities	7 796 177	9 402 442	11 225 153	12 135 352	13 460 507	14 917 411	15 573 584
Other Debtors	72 360	658 200	532 088	54 179	81 012	69 907	64 841
Property Plant Equipment	3 917 504	4 987 972	7 290 572	12 289 424	12 427 303	12 210 951	11 739 490
Total Inventories	3 712 239	4 907 946	5 269 971	5 384 152	5 899 505	5 095 117	6 391 437

Other Financial Data
Audit Fees Expenses	5 000	12 500	15 625	11 025	16 000	13 500
Accumulated Amortisation Impairment Intangible Assets							32 278
Accumulated Depreciation Impairment Property Plant Equipment	2 104 047	2 266 589	2 625 684	2 097 552	2 210 779	2 546 423	3 151 750
Additional Provisions Increase From New Provisions Recognised		58 427
Additions Other Than Through Business Combinations Intangible Assets							553 327
Additions Other Than Through Business Combinations Property Plant Equipment		1 855 192	2 730 397	5 303 240	735 126	412 444	141 016
Administration Support Average Number Employees	7	9	9	9	9	10	10
Administrative Expenses	3 969 389	3 702 343	5 260 251	4 498 064	4 276 356	4 277 908	5 165 326
Amortisation Expense Intangible Assets							32 278
Amounts Owed To Related Parties		296 096	222 796	275 751	49 613	6 217
Applicable Tax Rate	20	20	19	19	19	19	19
Average Number Employees During Period	71	74	77	79	77	71	81
Balances With Banks	723 348	1 165 884	544 606	558 969	864 912	2 743 448	335 740
Bank Borrowings	233 293	223 322		6 750 437	6 498 119	5 870 119	5 242 119
Bank Borrowings Overdrafts	-627 484	-3 221 166	-1 949 958	-601 054	-49		-97 040
Bank Overdrafts	627 484	3 221 166	1 949 958	601 054	49		97 040
Capital Commitments		25 547	4 497 970	418 840	21 420
Cash Cash Equivalents	723 348	1 168 123	546 638	562 067	871 932	2 748 083	339 807
Cash Cash Equivalents Cash Flow Value	-753 986	95 864	-1 403 320	-38 987	871 883	2 748 083
Cash Flows Used In Acquiring Or Obtaining Control Subsidiaries Or Other Businesses Classified As Investing Activities							-1 151 515
Cash On Hand		2 239	2 032	3 098	7 020	4 635	4 067
Comprehensive Income Expense	254 637	1 877 265	2 153 211	1 155 199	1 581 155	1 831 904	1 024 660
Comprehensive Income Expense Attributable To Owners Parent						1 831 904	1 024 660
Cost Sales	18 776 848	21 312 017	27 810 259	24 705 060	24 390 494	23 382 112	23 826 494
Creditors	313 994	163 121	147 245	6 813 191	6 622 493	6 011 898	5 405 472
Current Asset Investments	1 551	1 551	1 551	1 551	1 551	1 551	1 551
Current Tax For Period	452 043	426 407	510 116	87 371	244 687	377 210	324 412
Deferred Tax Assets		-55 541					29 721
Deferred Tax Expense Credit Relating To Changes In Tax Rates Or Laws	-8 720	-908	2 846				126 211
Deferred Tax Expense Credit Relating To Origination Reversal Timing Differences	-8 720	-904	-2 846	207 818	104 570	49 799	117 881
Deferred Tax Liabilities	59 291	58 837	55 541	263 359	367 929	417 728	525 879
Depreciation Amortisation Expense	336 887	281 911	411 824	304 031	591 081	623 991	605 476
Depreciation Expense Property Plant Equipment	336 887	281 911	411 824	304 031	591 081	623 991	648 001
Disposals Decrease In Depreciation Impairment Property Plant Equipment		-119 369	-52 730	-832 163	-477 855	-288 346	-149
Disposals Property Plant Equipment		-622 182	-68 702	-832 520	-484 021	-293 152	-7 150
Distribution Average Number Employees	64	65	68	70	68	61	71
Dividend Per Share Interim	26	33	49	34	36	52	48
Dividends Paid	-338 948	-271 000	-330 500	-245 000	-256 000	-375 000	-369 000
Dividends Paid Classified As Financing Activities	-338 948	-271 000	-330 500	-245 000	-256 000	-375 000	-369 000
Dividends Paid On Shares Interim		271 000	330 500	245 000	256 000	375 000	369 000
Finance Lease Liabilities Present Value Total	80 701	163 121	147 245
Finished Goods Goods For Resale	3 712 239	4 907 946	5 269 971	5 384 152	5 899 505	5 095 117	6 391 437
Fixed Assets						12 210 951	12 891 005
Further Item Cash Flow From Used In Financing Activities Component Net Cash Flows From Used In Financing Activities			-223 322	7 064 437	262 111	-828 429	-628 000
Further Item Debtors Component Total Debtors				19 057
Gain Loss From Revaluation Property Plant Equipment Recognised In Profit Or Loss						15 576	-4 636
Gain Loss In Cash Flows From Change In Creditors Trade Other Payables	144 156	388 779	-1 366 553	1 300 453	134 550	-2 593	-28 532
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables	108 502	865 144	-273 569	-206 660	139 297	-234 468	734 626
Gain Loss In Cash Flows From Change In Inventories	228 810	1 195 707	362 025	114 181	515 353	-804 388	1 296 320
Gain Loss In Cash Flows From Change In Provisions		58 427	2 169	2 346	-517	-721	124
Gain Loss On Disposals Property Plant Equipment	1 000	107 081	19 084	11 394	58 650	15 576	3 999
Gain Loss On Financial Assets Liabilities Fair Value Through Profit Or Loss	464 758
Gain Loss On Revaluation Property Plant Equipment Net Tax In Other Comprehensive Income	-1 004 205
Gross Profit Loss	5 643 677	6 000 489	7 972 697	6 115 046	6 090 746	6 636 973	6 760 621
Income Taxes Paid Refund Classified As Operating Activities	254 397	496 800	425 841	610 910	150 812	351 027	277 832
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation	849 850	-2 148 907	649 723	1 364 333	910 870	1 876 200	-2 505 316
Increase Decrease In Current Tax From Adjustment For Prior Periods		64		-5 611		-48 095
Increase Decrease In Existing Provisions		-904	-677	210 164	104 053	49 078	108 275
Increase From Amortisation Charge For Year Intangible Assets							32 278
Increase From Depreciation Charge For Year Property Plant Equipment		281 911	411 825	304 031	591 082	623 990	605 476
Intangible Assets							521 049
Intangible Assets Gross Cost							553 327
Interest Expense On Bank Overdrafts Bank Loans Similar Borrowings	37 487	44 148	45 989	165 797	181 011	145 040	226 695
Interest Expense On Financial Liabilities Fair Value Through Profit Or Loss	2 678		5 085	5 559
Interest Expense On Obligations Under Finance Leases Hire Purchase Contracts	7 564	3 056	8 948	6 724	6 945	6 550	4 654
Interest Income On Bank Deposits	24	107				1 253	3 206
Interest Paid Classified As Financing Activities	-47 729	-47 204	-60 022	-178 080	-187 956	-151 590	-231 349
Interest Paid Classified As Operating Activities	47 729	47 204	60 022	178 080	187 956	151 590	231 349
Interest Payable Similar Charges Finance Costs	47 729	47 204	60 022	178 080	187 956	151 590	132 076
Interest Received Classified As Investing Activities	24	167			811	1 253	3 195
Interest Received Classified As Operating Activities	24	167			811	1 253	3 195
Investments Fixed Assets							1 151 515
Investments In Subsidiaries							1 151 515
Net Cash Flows From Used In Financing Activities	-784 446	-540 472	-622 604	6 556 866	-129 090	-1 348 865	-1 199 550
Net Cash Flows From Used In Investing Activities	-180 354	-1 245 131	-2 695 341	-5 291 489	-669 499	-390 810	-1 278 336
Net Cash Flows From Used In Operating Activities	1 814 650	-363 304	3 967 668	98 956	1 709 459	3 615 874	-27 430
Net Cash Generated From Operations	2 069 047	133 496	4 393 509	709 866	1 860 271	3 966 901	250 402
Net Cash Inflow Outflow From Operations Before Movements In Working Capital	2 550 515	2 524 699	3 113 243	1 915 494	2 649 988	2 969 570	2 252 692
Net Current Assets Liabilities	4 251 958	4 694 405	4 197 963	6 985 420	8 086 051	9 197 790	8 675 758
Nominal Value Allotted Share Capital		10 309	10 309	10 309	10 309	10 309	10 309
Number Shares Issued Fully Paid	10 309	10 309	10 309	10 309	10 309	10 309	309
Operating Profit Loss	1 749 870	2 349 869	2 720 503			2 356 728	1 595 823
Other Comprehensive Income Expense Net Tax	-1 004 205
Other Creditors	-83 750	8 514	12 905	11 259	8 065	19 647	6 387
Other Current Asset Investments Balance Sheet Subtotal	1 551	1 551	1 551	1 551	1 551	1 551	1 551
Other Employee Expense	395 369	393 959	586 983	513 723	312 121	351 655	441 054
Other Finance Income		60
Other Interest Receivable Similar Income Finance Income	24	167			811	1 253	3 206
Other Operating Income Format1	75 582	51 723	8 057	5 875	303 167	2 090	528
Other Payables Accrued Expenses	120 875	113 979	133 751	292 204	245 102	119 639	238 477
Other Remaining Borrowings						6 217	6 920
Other Remaining Operating Income	75 582	51 723	8 057	5 875	303 167	2 090	528
Other Short-term Employee Benefits			11 767	9 861	9 070	9 222	9 086
Par Value Share		1	1	1	1	1	1
Payments Finance Lease Liabilities Classified As Financing Activities	10 152	100 678	-8 761	-84 491	52 755	6 154	28 096
Payments To Related Parties		15 120	18 900	15 360	15 360	5 120	119 567
Pension Costs Defined Contribution Plan	130 685	121 718	151 306	85 505	113 867	123 672	138 982
Percentage Class Share Held In Subsidiary							100
Prepayments	522 723	402 036	500 052	160 149	398 000	386 213	601 029
Proceeds From Sales Property Plant Equipment	1 600	609 894	35 056	11 751	64 816	20 382	11 000
Profit Loss	1 258 842	1 877 265	2 153 211	1 155 199	1 581 155	1 831 904	1 025 173
Profit Loss Attributable To Owners Parent						1 831 904	1 024 660
Profit Loss On Ordinary Activities Before Tax	1 702 165	2 302 832	2 660 481	1 444 777	1 930 412	2 210 818	1 466 953
Property Plant Equipment Gross Cost	6 021 551	7 254 561	9 916 256	14 386 976	14 638 082	14 757 374	14 891 240
Provisions	59 291	116 814	116 137	326 301	430 354	479 432	587 707
Provisions For Liabilities Balance Sheet Subtotal	59 291	116 814	116 137	326 301	430 354	479 432	587 707
Purchase Intangible Assets							-553 327
Purchase Property Plant Equipment	-181 978	-1 855 192	-2 730 397	-5 303 240	-735 126	-412 445	-141 016
Redundancy Costs					58 148	3 000
Rental Income From Investment Property					57 683	151 915	170 126
Repayments Borrowings Classified As Financing Activities	-407 921	-322 946	-223 321
Revenue From Rendering Services						1 035 213	1 294 716
Revenue From Sale Goods	24 420 525	27 312 506	35 782 956	30 820 106	30 423 557	29 867 170	29 122 273
Social Security Costs	141 789	169 473	251 069	202 513	197 543	202 903	253 365
Staff Costs Employee Benefits Expense	2 353 328	2 625 156	3 664 393	2 979 174	2 812 406	2 782 811	3 301 593
Taxation Social Security Payable	49 737	51 243	55 201	55 830	53 873	239 264	302 112
Tax Decrease Increase From Effect Revenue Exempt From Taxation		19	-28	-25	-5	-23	-101
Tax Expense Credit Applicable Tax Rate	340 433	449 052	505 491	274 508	366 778	420 055	278 721
Tax Increase Decrease From Effect Adjustment In Research Development Tax Credit						-48 095
Tax Increase Decrease From Effect Capital Allowances Depreciation	15 910	-24 149	-2 846		-4 857	6 299	32 266
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss	95 700	1 553	1 807	15 095	-12 659	678	5 196
Tax Tax Credit On Profit Or Loss On Ordinary Activities	443 323	425 567	507 270	289 578	349 257	378 914	397 888
Total Assets Less Current Liabilities	8 169 462	9 682 377	11 488 535	19 274 844	20 513 354	21 408 741	21 566 763
Total Borrowings	313 994	163 121	147 245	6 813 191	6 622 493	6 011 898	5 405 472
Total Operating Lease Payments	40 748	26 971	49 349	75 486	37 937	14 575	9 907
Trade Creditors Trade Payables	2 284 945	1 513 196	2 924 928	1 414 083	1 557 925	1 489 008	1 349 114
Trade Debtors Trade Receivables	3 087 343	3 487 334	3 241 861	3 853 013	3 727 626	3 516 050	4 043 156
Turnover Revenue	24 420 525	27 312 506	35 782 956	30 820 106	30 481 240	30 019 085	20 213 790
Wages Salaries	1 685 485	1 940 006	2 675 035	2 167 572	2 121 657	2 092 359	2 459 106
Director Remuneration	41 700	42 001	33 595	26 981	26 986	26 987	108 788
Number Directors Accruing Benefits Under Money Purchase Scheme	3	3	3	3	3	4	4