Magowan Tyres (n.i.) Limited NEWTOWNABBEY


Founded in 1986, Magowan Tyres (n.i.), classified under reg no. NI019865 is an active company. Currently registered at 2 Houston Business Park BT36 5RZ, Newtownabbey the company has been in the business for 38 years. Its financial year was closed on Tuesday 31st December and its latest financial statement was filed on 31st December 2022.

At the moment there are 5 directors in the the firm, namely David M., Adam D. and Darryl M. and others. In addition one secretary - Georgina M. - is with the company. As of 28 March 2024, our data shows no information about any ex officers on these positions.

Magowan Tyres (n.i.) Limited Address / Contact

Office Address 2 Houston Business Park
Office Address2 Doagh Road
Town Newtownabbey
Post code BT36 5RZ
Country of origin United Kingdom

Company Information / Profile

Registration Number NI019865
Date of Incorporation Mon, 22nd Sep 1986
Industry Wholesale trade of motor vehicle parts and accessories
Industry Retail trade of motor vehicle parts and accessories
End of financial Year 31st December
Company age 38 years old
Account next due date Mon, 30th Sep 2024 (186 days left)
Account last made up date Sat, 31st Dec 2022
Next confirmation statement due date Sun, 17th Mar 2024 (2024-03-17)
Last confirmation statement dated Fri, 3rd Mar 2023

Company staff

David M.

Position: Director

Appointed: 31 December 2021

Adam D.

Position: Director

Appointed: 01 February 2014

Georgina M.

Position: Secretary

Appointed: 22 September 1986

Darryl M.

Position: Director

Appointed: 22 September 1986

Darryl M.

Position: Director

Appointed: 22 September 1986

Georgina M.

Position: Director

Appointed: 22 September 1986

People with significant control

The register of persons with significant control who own or have control over the company is made up of 1 name. As BizStats identified, there is Darryl M. The abovementioned PSC and has 25-50% shares.

Darryl M.

Notified on 6 April 2016
Nature of control: 25-50% shares

Annual reports financial information

Profit & Loss
Accounts Information Date 2016-09-302017-09-302018-12-312019-12-312020-12-312021-12-312022-12-31
Balance Sheet
Cash Bank On Hand723 3481 168 123546 638562 067871 9322 748 083339 807
Current Assets8 119 56410 625 19010 092 16110 034 16710 979 62611 816 92111 439 591
Debtors3 682 4264 547 5704 274 0014 086 3974 206 6383 972 1704 735 381
Net Assets Liabilities7 796 1779 402 44211 225 15312 135 35213 460 50714 917 41115 573 584
Other Debtors72 360658 200532 08854 17981 01269 90764 841
Property Plant Equipment3 917 5044 987 9727 290 57212 289 42412 427 30312 210 95111 739 490
Total Inventories3 712 2394 907 9465 269 9715 384 1525 899 5055 095 1176 391 437
Other
Audit Fees Expenses5 00012 50015 62511 02516 00013 500 
Accumulated Amortisation Impairment Intangible Assets      32 278
Accumulated Depreciation Impairment Property Plant Equipment2 104 0472 266 5892 625 6842 097 5522 210 7792 546 4233 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 1922 730 3975 303 240735 126412 444141 016
Administration Support Average Number Employees799991010
Administrative Expenses3 969 3893 702 3435 260 2514 498 0644 276 3564 277 9085 165 326
Amortisation Expense Intangible Assets      32 278
Amounts Owed To Related Parties 296 096222 796275 75149 6136 217 
Applicable Tax Rate20201919191919
Average Number Employees During Period71747779777181
Balances With Banks723 3481 165 884544 606558 969864 9122 743 448335 740
Bank Borrowings233 293223 322 6 750 4376 498 1195 870 1195 242 119
Bank Borrowings Overdrafts-627 484-3 221 166-1 949 958-601 054-49 -97 040
Bank Overdrafts627 4843 221 1661 949 958601 05449 97 040
Capital Commitments 25 5474 497 970418 84021 420  
Cash Cash Equivalents723 3481 168 123546 638562 067871 9322 748 083339 807
Cash Cash Equivalents Cash Flow Value-753 98695 864-1 403 320-38 987871 8832 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 2392 0323 0987 0204 6354 067
Comprehensive Income Expense254 6371 877 2652 153 2111 155 1991 581 1551 831 9041 024 660
Comprehensive Income Expense Attributable To Owners Parent     1 831 9041 024 660
Cost Sales18 776 84821 312 01727 810 25924 705 06024 390 49423 382 11223 826 494
Creditors313 994163 121147 2456 813 1916 622 4936 011 8985 405 472
Current Asset Investments1 5511 5511 5511 5511 5511 5511 551
Current Tax For Period452 043426 407510 11687 371244 687377 210324 412
Deferred Tax Assets -55 541    29 721
Deferred Tax Expense Credit Relating To Changes In Tax Rates Or Laws-8 720-9082 846   126 211
Deferred Tax Expense Credit Relating To Origination Reversal Timing Differences-8 720-904-2 846207 818104 57049 799117 881
Deferred Tax Liabilities59 29158 83755 541263 359367 929417 728525 879
Depreciation Amortisation Expense336 887281 911411 824304 031591 081623 991605 476
Depreciation Expense Property Plant Equipment336 887281 911411 824304 031591 081623 991648 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 Employees64656870686171
Dividend Per Share Interim26334934365248
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 000330 500245 000256 000375 000369 000
Finance Lease Liabilities Present Value Total80 701163 121147 245    
Finished Goods Goods For Resale3 712 2394 907 9465 269 9715 384 1525 899 5055 095 1176 391 437
Fixed Assets     12 210 95112 891 005
Further Item Cash Flow From Used In Financing Activities Component Net Cash Flows From Used In Financing Activities  -223 3227 064 437262 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 Payables144 156388 779-1 366 5531 300 453134 550-2 593-28 532
Gain Loss In Cash Flows From Change In Debtors Trade Other Receivables108 502865 144-273 569-206 660139 297-234 468734 626
Gain Loss In Cash Flows From Change In Inventories228 8101 195 707362 025114 181515 353-804 3881 296 320
Gain Loss In Cash Flows From Change In Provisions 58 4272 1692 346-517-721124
Gain Loss On Disposals Property Plant Equipment1 000107 08119 08411 39458 65015 5763 999
Gain Loss On Financial Assets Liabilities Fair Value Through Profit Or Loss464 758      
Gain Loss On Revaluation Property Plant Equipment Net Tax In Other Comprehensive Income-1 004 205      
Gross Profit Loss5 643 6776 000 4897 972 6976 115 0466 090 7466 636 9736 760 621
Income Taxes Paid Refund Classified As Operating Activities254 397496 800425 841610 910150 812351 027277 832
Increase Decrease In Cash Cash Equivalents Before Foreign Exchange Differences Changes In Consolidation849 850-2 148 907649 7231 364 333910 8701 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 -904-677210 164104 05349 078108 275
Increase From Amortisation Charge For Year Intangible Assets      32 278
Increase From Depreciation Charge For Year Property Plant Equipment 281 911411 825304 031591 082623 990605 476
Intangible Assets      521 049
Intangible Assets Gross Cost      553 327
Interest Expense On Bank Overdrafts Bank Loans Similar Borrowings37 48744 14845 989165 797181 011145 040226 695
Interest Expense On Financial Liabilities Fair Value Through Profit Or Loss2 678 5 0855 559   
Interest Expense On Obligations Under Finance Leases Hire Purchase Contracts7 5643 0568 9486 7246 9456 5504 654
Interest Income On Bank Deposits24107   1 2533 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 Activities47 72947 20460 022178 080187 956151 590231 349
Interest Payable Similar Charges Finance Costs47 72947 20460 022178 080187 956151 590132 076
Interest Received Classified As Investing Activities24167  8111 2533 195
Interest Received Classified As Operating Activities24167  8111 2533 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 6046 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 Activities1 814 650-363 3043 967 66898 9561 709 4593 615 874-27 430
Net Cash Generated From Operations2 069 047133 4964 393 509709 8661 860 2713 966 901250 402
Net Cash Inflow Outflow From Operations Before Movements In Working Capital2 550 5152 524 6993 113 2431 915 4942 649 9882 969 5702 252 692
Net Current Assets Liabilities4 251 9584 694 4054 197 9636 985 4208 086 0519 197 7908 675 758
Nominal Value Allotted Share Capital 10 30910 30910 30910 30910 30910 309
Number Shares Issued Fully Paid10 30910 30910 30910 30910 30910 309309
Operating Profit Loss1 749 8702 349 8692 720 503  2 356 7281 595 823
Other Comprehensive Income Expense Net Tax-1 004 205      
Other Creditors-83 7508 51412 90511 2598 06519 6476 387
Other Current Asset Investments Balance Sheet Subtotal1 5511 5511 5511 5511 5511 5511 551
Other Employee Expense395 369393 959586 983513 723312 121351 655441 054
Other Finance Income 60     
Other Interest Receivable Similar Income Finance Income24167  8111 2533 206
Other Operating Income Format175 58251 7238 0575 875303 1672 090528
Other Payables Accrued Expenses120 875113 979133 751292 204245 102119 639238 477
Other Remaining Borrowings     6 2176 920
Other Remaining Operating Income75 58251 7238 0575 875303 1672 090528
Other Short-term Employee Benefits  11 7679 8619 0709 2229 086
Par Value Share 111111
Payments Finance Lease Liabilities Classified As Financing Activities10 152100 678-8 761-84 49152 7556 15428 096
Payments To Related Parties 15 12018 90015 36015 3605 120119 567
Pension Costs Defined Contribution Plan130 685121 718151 30685 505113 867123 672138 982
Percentage Class Share Held In Subsidiary      100
Prepayments522 723402 036500 052160 149398 000386 213601 029
Proceeds From Sales Property Plant Equipment1 600609 89435 05611 75164 81620 38211 000
Profit Loss1 258 8421 877 2652 153 2111 155 1991 581 1551 831 9041 025 173
Profit Loss Attributable To Owners Parent     1 831 9041 024 660
Profit Loss On Ordinary Activities Before Tax1 702 1652 302 8322 660 4811 444 7771 930 4122 210 8181 466 953
Property Plant Equipment Gross Cost6 021 5517 254 5619 916 25614 386 97614 638 08214 757 37414 891 240
Provisions59 291116 814116 137326 301430 354479 432587 707
Provisions For Liabilities Balance Sheet Subtotal59 291116 814116 137326 301430 354479 432587 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 1483 000 
Rental Income From Investment Property    57 683151 915170 126
Repayments Borrowings Classified As Financing Activities-407 921-322 946-223 321    
Revenue From Rendering Services     1 035 2131 294 716
Revenue From Sale Goods24 420 52527 312 50635 782 95630 820 10630 423 55729 867 17029 122 273
Social Security Costs141 789169 473251 069202 513197 543202 903253 365
Staff Costs Employee Benefits Expense2 353 3282 625 1563 664 3932 979 1742 812 4062 782 8113 301 593
Taxation Social Security Payable49 73751 24355 20155 83053 873239 264302 112
Tax Decrease Increase From Effect Revenue Exempt From Taxation 19-28-25-5-23-101
Tax Expense Credit Applicable Tax Rate340 433449 052505 491274 508366 778420 055278 721
Tax Increase Decrease From Effect Adjustment In Research Development Tax Credit     -48 095 
Tax Increase Decrease From Effect Capital Allowances Depreciation15 910-24 149-2 846 -4 8576 29932 266
Tax Increase Decrease From Effect Expenses Not Deductible In Determining Taxable Profit Or Loss95 7001 5531 80715 095-12 6596785 196
Tax Tax Credit On Profit Or Loss On Ordinary Activities443 323425 567507 270289 578349 257378 914397 888
Total Assets Less Current Liabilities8 169 4629 682 37711 488 53519 274 84420 513 35421 408 74121 566 763
Total Borrowings313 994163 121147 2456 813 1916 622 4936 011 8985 405 472
Total Operating Lease Payments40 74826 97149 34975 48637 93714 5759 907
Trade Creditors Trade Payables2 284 9451 513 1962 924 9281 414 0831 557 9251 489 0081 349 114
Trade Debtors Trade Receivables3 087 3433 487 3343 241 8613 853 0133 727 6263 516 0504 043 156
Turnover Revenue24 420 52527 312 50635 782 95630 820 10630 481 24030 019 08520 213 790
Wages Salaries1 685 4851 940 0062 675 0352 167 5722 121 6572 092 3592 459 106
Director Remuneration41 70042 00133 59526 98126 98626 987108 788
Number Directors Accruing Benefits Under Money Purchase Scheme3333344

Company filings

Filing category
Accounts Address Annual return Capital Confirmation statement Incorporation Mortgage Officers Other Resolution
Group of companies' report and financial statements (accounts) made up to 31st December 2022
filed on: 28th, September 2023
Free Download (39 pages)

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