Relate AccountsProduction v2.6.1 v2.6.1 2021-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the owning and operating of a nightclub and bars. 25 August 2022 NI052057 2022-04-30 NI052057 2021-04-30 NI052057 2020-04-30 NI052057 2021-05-01 2022-04-30 NI052057 2020-05-01 2021-04-30 NI052057 uk-bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 NI052057 uk-bus:AbridgedAccounts 2021-05-01 2022-04-30 NI052057 uk-core:ShareCapital 2022-04-30 NI052057 uk-core:ShareCapital 2021-04-30 NI052057 uk-core:RetainedEarningsAccumulatedLosses 2022-04-30 NI052057 uk-core:RetainedEarningsAccumulatedLosses 2021-04-30 NI052057 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-04-30 NI052057 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-04-30 NI052057 uk-bus:FRS102 2021-05-01 2022-04-30 NI052057 uk-core:Goodwill 2021-05-01 2022-04-30 NI052057 uk-core:LandBuildings 2021-05-01 2022-04-30 NI052057 uk-core:FurnitureFittingsToolsEquipment 2021-05-01 2022-04-30 NI052057 uk-core:MotorVehicles 2021-05-01 2022-04-30 NI052057 uk-core:LicencesFranchises 2021-04-30 NI052057 uk-core:Goodwill 2021-04-30 NI052057 uk-core:LicencesFranchises 2022-04-30 NI052057 uk-core:Goodwill 2022-04-30 NI052057 2021-05-01 2022-04-30 NI052057 uk-bus:CompanySecretaryDirector1 2021-05-01 2022-04-30 NI052057 uk-bus:AuditExempt-NoAccountantsReport 2021-05-01 2022-04-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI052057
 
 
Sally O'Briens Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 April 2022
Sally O'Briens Limited
Company Registration Number: NI052057
ABRIDGED BALANCE SHEET
as at 30 April 2022

2022 2021
Notes £ £
 
Fixed Assets
Intangible assets 4 240,000 240,000
Tangible assets 5 2,646,566 2,805,996
───────── ─────────
2,886,566 3,045,996
───────── ─────────
 
Current Assets
Stocks 69,862 36,154
Debtors 95,020 45,751
Cash and cash equivalents 1,569,467 662,434
───────── ─────────
1,734,349 744,339
───────── ─────────
Creditors: amounts falling due within one year (817,773) (471,581)
───────── ─────────
Net Current Assets 916,576 272,758
───────── ─────────
Total Assets less Current Liabilities 3,803,142 3,318,754
 
Creditors:
amounts falling due after more than one year (589,900) (675,000)
 
Provisions for liabilities (9,553) (8,870)
───────── ─────────
Net Assets 3,203,689 2,634,884
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 3,203,589 2,634,784
───────── ─────────
Equity attributable to owners of the company 3,203,689 2,634,884
═════════ ═════════
 
These abridged financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
           
For the financial year ended 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 25 August 2022
           
________________________________          
Oonagh McGirr          
Director          
           



Sally O'Briens Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 April 2022

   
1. General Information
 
Sally O'Briens Limited is a company limited by shares incorporated in Northern Ireland. 30a Gortin Road, Omagh, Co Tyrone, BT79 7HX, Northern Ireland is the registered office, which is also the principal place of business of the company. The principal activity of the company is the owning and operating of a nightclub and bars. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 April 2022 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Licences
Licences are valued at cost.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% straight line
  Fixtures, fittings and equipment - 20% straight line
  Motor vehicles - 20% reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 92, (2021 - 39).
 
  2022 2021
  Number Number
 
Director 1 1
Employees 91 38
  ───────── ─────────
  92 39
  ═════════ ═════════
         
4. Intangible assets
  Licences    
    Goodwill Total
  £ £ £
Cost
At 1 May 2021 240,000 900,000 1,140,000
  ───────── ───────── ─────────
 
At 30 April 2022 240,000 900,000 1,140,000
  ───────── ───────── ─────────
Amortisation
 
At 30 April 2022 - 900,000 900,000
  ───────── ───────── ─────────
Net book value
At 30 April 2022 240,000 - 240,000
  ═════════ ═════════ ═════════
At 30 April 2021 240,000 - 240,000
  ═════════ ═════════ ═════════
           
5. Tangible assets
  Land and Fixtures, Motor Total
  buildings fittings and vehicles  
  freehold equipment    
  £ £ £ £
Cost
At 1 May 2021 4,417,285 2,599,486 10,800 7,027,571
Additions - 51,269 - 51,269
  ───────── ───────── ───────── ─────────
At 30 April 2022 4,417,285 2,650,755 10,800 7,078,840
  ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2021 1,747,483 2,467,439 6,653 4,221,575
Charge for the financial year 147,580 62,290 829 210,699
  ───────── ───────── ───────── ─────────
At 30 April 2022 1,895,063 2,529,729 7,482 4,432,274
  ───────── ───────── ───────── ─────────
Net book value
At 30 April 2022 2,522,222 121,026 3,318 2,646,566
  ═════════ ═════════ ═════════ ═════════
At 30 April 2021 2,669,802 132,047 4,147 2,805,996
  ═════════ ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 April 2022.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.