Candy Enterprises (Ballymena) Ltd NI602453 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is retail of general convenience goods Digita Accounts Production Advanced 6.30.9574.0 true true NI602453 2022-05-01 2023-04-30 NI602453 2023-04-30 NI602453 bus:OrdinaryShareClass1 2023-04-30 NI602453 bus:Revised 2023-04-30 NI602453 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI602453 core:ShareCapital 2023-04-30 NI602453 core:CurrentFinancialInstruments 2023-04-30 NI602453 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI602453 core:Non-currentFinancialInstruments 2023-04-30 NI602453 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI602453 core:OtherResidualIntangibleAssets 2023-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2023-04-30 NI602453 core:LandBuildings 2023-04-30 NI602453 bus:SmallEntities 2022-05-01 2023-04-30 NI602453 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 NI602453 bus:FullAccounts 2022-05-01 2023-04-30 NI602453 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 NI602453 bus:RegisteredOffice 2022-05-01 2023-04-30 NI602453 bus:Director2 2022-05-01 2023-04-30 NI602453 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 NI602453 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 NI602453 core:LandBuildings 2022-05-01 2023-04-30 NI602453 countries:NorthernIreland 2022-05-01 2023-04-30 NI602453 2022-04-30 NI602453 core:OtherResidualIntangibleAssets 2022-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2022-04-30 NI602453 core:LandBuildings 2022-04-30 NI602453 2021-05-01 2022-04-30 NI602453 2022-04-30 NI602453 bus:OrdinaryShareClass1 2022-04-30 NI602453 core:RetainedEarningsAccumulatedLosses 2022-04-30 NI602453 core:ShareCapital 2022-04-30 NI602453 core:CurrentFinancialInstruments 2022-04-30 NI602453 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 NI602453 core:Non-currentFinancialInstruments 2022-04-30 NI602453 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 NI602453 core:OtherResidualIntangibleAssets 2022-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2022-04-30 NI602453 core:LandBuildings 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI602453

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

(Registration number: NI602453)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

110,850

110,850

Tangible assets

5

93,415

113,790

 

204,265

224,640

Current assets

 

Stocks

6

79,621

68,677

Debtors and prepayments

7

6,365

5,547

Cash at bank and in hand

 

238,280

209,241

 

324,266

283,465

Creditors: Amounts falling due within one year

8

(154,267)

(170,244)

Net current assets

 

169,999

113,221

Total assets less current liabilities

 

374,264

337,861

Creditors: Amounts falling due after more than one year

8

-

(29,500)

Provisions for liabilities

(10,662)

(11,635)

Net assets

 

363,602

296,726

Capital and reserves

 

Called up share capital

9

1,000

1,000

Profit and loss account

362,602

295,726

 

363,602

296,726

Total equity

 

363,602

296,726

For the financial year ending 30 April 2023 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

(Registration number: NI602453)
Balance Sheet as at 30 April 2023

These financial statements have been 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 21 July 2023
 

.........................................
Mr Thomas James McMaster
Director

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

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

The address of its registered office is: 7 Old Galgorm Manor, Ballymena, Co. Antrim, BT42 1RY.

These financial statements were authorised for issue by the director on 21 July 2023.

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 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.

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Government grants

Revenue grants are accounted for under the performance model. Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable. Revenue grants subject to performance-related conditions are recognised when these conditions are met.

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.

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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

Equipment, fixtures and fittings

20% straight line basis

Improvements

2.5% straight line basis

Intangible assets

Intangible assets comprise costs incurred by the Company to acquire a liquor licence. Amortisation is not provided on the licence as its value to the company is non-depreciating.

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.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

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 19 (2022 - 17).

4

Intangible assets - Off Sales Licence

Off Sales Licence
 £

Total
£

Cost or valuation

At 1 May 2022

110,850

110,850

At 30 April 2023

110,850

110,850

Amortisation

Carrying amount

At 30 April 2023

110,850

110,850

At 30 April 2022

110,850

110,850

Amortisation is not provided on the intangible fixed asset held by the Company. The liquor licence is of continued value to the Company and holds a readily attainable market value in excess of its cost.

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

5

Tangible assets

Improvements
£

Equipment, fixtures and fittings
 £

Total
£

Cost or valuation

At 1 May 2022

74,684

210,384

285,068

Additions

-

1,824

1,824

Disposals

-

(35,852)

(35,852)

At 30 April 2023

74,684

176,356

251,040

Depreciation

At 1 May 2022

7,017

164,261

171,278

Charge for the year

1,648

20,157

21,805

Eliminated on disposal

-

(35,458)

(35,458)

At 30 April 2023

8,665

148,960

157,625

Carrying amount

At 30 April 2023

66,019

27,396

93,415

At 30 April 2022

67,667

46,123

113,790

6

Stocks

2023
£

2022
£

Stock of goods for resale

79,621

68,677

7

Debtors

2023
£

2022
£

Prepayments

717

637

Other debtors

5,648

4,910

6,365

5,547

 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

10

57,289

74,578

Director's loan account

10

22,538

29,607

Taxation and social security

 

24,785

14,884

Other creditors and accruals

 

49,655

51,175

 

154,267

170,244

Due after one year

 

Director's loan account

10

-

29,500

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

         
 

Candy Enterprises (Ballymena) Ltd

trading as Mace Ballykeel

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Director's loan account

-

29,500

2023
£

2022
£

Current loans and borrowings

Director's loan account

22,538

29,607

11

Related party transactions

The following amounts were due from/(to) the directors at the year end:-

2023
 £

2022
 £

Director's loan account

(22,538)

(59,107)