Relate AccountsProduction v2.7.2 v2.7.2 2022-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company during the year was the sale of building supplies and hardware. 18 October 2023 NI014002 2023-01-31 NI014002 2022-01-31 NI014002 2021-01-31 NI014002 2022-02-01 2023-01-31 NI014002 2021-02-01 2022-01-31 NI014002 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI014002 uk-curr:PoundSterling 2022-02-01 2023-01-31 NI014002 uk-bus:AbridgedAccounts 2022-02-01 2023-01-31 NI014002 uk-core:ShareCapital 2023-01-31 NI014002 uk-core:ShareCapital 2022-01-31 NI014002 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI014002 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI014002 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI014002 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI014002 uk-bus:FRS102 2022-02-01 2023-01-31 NI014002 uk-core:LandBuildings 2022-02-01 2023-01-31 NI014002 uk-core:PlantMachinery 2022-02-01 2023-01-31 NI014002 uk-core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 NI014002 uk-core:MotorVehicles 2022-02-01 2023-01-31 NI014002 uk-core:WithinOneYear 2023-01-31 NI014002 uk-core:WithinOneYear 2022-01-31 NI014002 uk-bus:OrdinaryShareClass1 2022-02-01 2023-01-31 NI014002 uk-bus:OrdinaryShareClass1 2023-01-31 NI014002 2022-02-01 2023-01-31 NI014002 uk-bus:CompanySecretaryDirector1 2022-02-01 2023-01-31 NI014002 uk-bus:Director2 2022-02-01 2023-01-31 NI014002 uk-bus:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI014002
 
 
Vincent Mone & Son Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2023
Vincent Mone & Son Limited
DIRECTORS' REPORT
for the financial year ended 31 January 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 January 2023.
 
Principal Activity
The principal activity of the company during the year was the sale of building supplies and hardware.
     
Results and Dividends
The (loss)/profit for the financial year after providing for depreciation and taxation amounted to £(835) (2022 - £231,826).
     
Directors
The directors who served during the financial year are as follows:
     
Kevin Mone
Anne Mone
Kevin Patrick Mone
Shauna Mone
   
There were no changes in shareholdings between 31 January 2023 and the date of signing the financial statements.
     
In accordance with the Articles of Association, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Charitable and Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of directors' Responsibilities and Declaration on Unaudited Financial Statements
     
The directors made the following statement in respect of the unaudited financial statements:
     
"General responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Directors' declaration on unaudited financial statements
In relation to the financial statements comprising the Abridged Profit and Loss Account, the Abridged Balance Sheet and the related notes:
     
The directors approve these financial statements and confirm that they are responsible for them, including selecting the appropriate accounting policies, applying them consistently and making, on a reasonable and prudent basis, the judgements underlying them. They have been prepared on the going concern basis on the grounds that the company will continue in business.
     
The directors confirm that they have made available to FLC Frank Lynch & Company, (Chartered Certified Accountants), all the company's accounting records and provided all the information, books and documents necessary for the compilation of the financial statements.
     
The directors confirm that to the best of their knowledge and belief, the accounting records reflect all the transactions of the company for the financial year ended 31 January 2023."
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________ ___________________________
Kevin Mone Anne Mone
Director Director
     
18 October 2023 18 October 2023



Vincent Mone & Son Limited
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial year ended 31 January 2023
2023 2022
Notes £ £

Gross profit 300,554 579,546
 
Administrative expenses (299,579) (297,273)
Other operating income - 6,795
───────── ─────────
Profit on ordinary activities before taxation 975 289,068
 
Tax on profit on ordinary activities (1,810) (57,242)
───────── ─────────
(Loss)/profit for the financial year (835) 231,826
───────── ─────────
Total comprehensive income (835) 231,826
    ═════════   ═════════



Vincent Mone & Son Limited
Company Registration Number: NI014002
ABRIDGED BALANCE SHEET
as at 31 January 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 52,625 54,092
───────── ─────────
 
Current Assets
Stocks 240,000 120,000
Debtors 840,218 860,692
Cash and cash equivalents 405,461 596,007
───────── ─────────
1,485,679 1,576,699
───────── ─────────
Creditors: amounts falling due within one year 5 (516,973) (608,625)
───────── ─────────
Net Current Assets 968,706 968,074
───────── ─────────
Total Assets less Current Liabilities 1,021,331 1,022,166
═════════ ═════════
 
Capital and Reserves
Called up share capital 6 2 2
Retained earnings 1,021,329 1,022,164
───────── ─────────
Equity attributable to owners of the company 1,021,331 1,022,166
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm 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 directors acknowledge 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 Board and authorised for issue on 18 October 2023 and signed on its behalf by
           
           
________________________________     ________________________________
Kevin Mone     Anne Mone
Director     Director
           



Vincent Mone & Son Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
Vincent Mone & Son Limited is a company limited by shares incorporated in Northern Ireland. Davis Street, Keady, Co Armagh is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. 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 31 January 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and 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.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
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
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 10% Reducing Balance
  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.  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.
 
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.
 
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.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 18, (2022 - 11).
 
  2023 2022
  Number Number
 
Sales 15 8
Administration 3 3
  ───────── ─────────
  18 11
  ═════════ ═════════
             
4. Tangible assets
  Land and Plant and Fixtures, Motor Total
  buildings machinery fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 February 2022 30,458 21,494 20,390 61,877 134,219
Additions - - - 7,083 7,083
  ───────── ───────── ───────── ───────── ─────────
At 31 January 2023 30,458 21,494 20,390 68,960 141,302
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2022 - 21,282 18,792 40,053 80,127
Charge for the financial year - 56 159 8,335 8,550
  ───────── ───────── ───────── ───────── ─────────
At 31 January 2023 - 21,338 18,951 48,388 88,677
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 January 2023 30,458 156 1,439 20,572 52,625
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 January 2022 30,458 212 1,598 21,824 54,092
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 423,957 433,427
Taxation and social security costs 41,521 116,459
Directors' current accounts 31,595 30,839
Accruals 19,900 27,900
  ───────── ─────────
  516,973 608,625
  ═════════ ═════════
           
6. Share capital     2023 2022
      £ £
Description Number of shares Value of units    
 
Allotted, called up and fully paid
Ordinary Share 2 £1 each 2 2
 
      ═════════ ═════════
         
The directors' interests in the shares of the company are as follows:-
 
    Number Held At
Name Class of Shares 31/01/23 01/02/22
 
Kevin Mone Ordinary Shares 1 1
Anne Mone Ordinary Shares 1 1
    ───────── ─────────
    2 2
    ═════════ ═════════