Northern Island Ltd NI070174 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the provision of English language learning holidays Digita Accounts Production Advanced 6.30.9574.0 true NI070174 2022-04-01 2023-03-31 NI070174 2023-03-31 NI070174 bus:Director1 1 2023-03-31 NI070174 bus:Director1 2 2023-03-31 NI070174 bus:OrdinaryShareClass1 2023-03-31 NI070174 core:RetainedEarningsAccumulatedLosses 2023-03-31 NI070174 core:ShareCapital 2023-03-31 NI070174 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI070174 core:FurnitureFittingsToolsEquipment 2023-03-31 NI070174 core:OtherPropertyPlantEquipment 2023-03-31 NI070174 bus:SmallEntities 2022-04-01 2023-03-31 NI070174 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI070174 bus:FullAccounts 2022-04-01 2023-03-31 NI070174 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI070174 bus:RegisteredOffice 2022-04-01 2023-03-31 NI070174 bus:Director1 2022-04-01 2023-03-31 NI070174 bus:Director1 1 2022-04-01 2023-03-31 NI070174 bus:Director1 2 2022-04-01 2023-03-31 NI070174 bus:Director2 2022-04-01 2023-03-31 NI070174 bus:Director3 2022-04-01 2023-03-31 NI070174 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 NI070174 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI070174 core:FurnitureFittings 2022-04-01 2023-03-31 NI070174 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 NI070174 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 NI070174 core:PlantMachinery 2022-04-01 2023-03-31 NI070174 countries:NorthernIreland 2022-04-01 2023-03-31 NI070174 2022-03-31 NI070174 bus:Director1 1 2022-03-31 NI070174 bus:Director1 2 2022-03-31 NI070174 core:FurnitureFittingsToolsEquipment 2022-03-31 NI070174 core:OtherPropertyPlantEquipment 2022-03-31 NI070174 2021-04-01 2022-03-31 NI070174 2022-03-31 NI070174 bus:Director1 1 2022-03-31 NI070174 bus:Director1 2 2022-03-31 NI070174 bus:OrdinaryShareClass1 2022-03-31 NI070174 core:RetainedEarningsAccumulatedLosses 2022-03-31 NI070174 core:ShareCapital 2022-03-31 NI070174 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI070174 core:FurnitureFittingsToolsEquipment 2022-03-31 NI070174 core:OtherPropertyPlantEquipment 2022-03-31 NI070174 bus:Director1 1 2021-04-01 2022-03-31 NI070174 bus:Director1 2 2021-04-01 2022-03-31 NI070174 bus:Director1 1 2021-03-31 NI070174 bus:Director1 2 2021-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI070174

Northern Island Ltd

Filleted Financial Statements

for the Year Ended 31 March 2023

 

Northern Island Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Northern Island Ltd

Company Information

Directors

Ms Judith Boyle

Juan Herrero

Maureen Boyle

Registered office

1 Inishanier
Whiterock
Killinchy
Co Down
BT23 6SU

 

Northern Island Ltd

(Registration number: NI070174)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,318

2,048

Current assets

 

Cash at bank and in hand

 

78,305

38,154

Creditors: Amounts falling due within one year

(14,459)

(3,576)

Net current assets

 

63,846

34,578

Net assets

 

67,164

36,626

Capital and reserves

 

Called up share capital

2

2

Retained earnings

67,162

36,624

Shareholders' funds

 

67,164

36,626

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2023 and signed on its behalf by:
 

.........................................
Ms Judith Boyle
Director

 

Northern Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
1 Inishanier
Whiterock
Killinchy
Co Down
BT23 6SU
Northern Ireland

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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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.

Tax

The tax expense for the period comprises current 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.

 

Northern Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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.

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

Plant and machinery

25% Reducing balance

Fixtures and fittings

15% Reducing balance

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors) during the year, was 1 (2022 - 1).

 

Northern Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

3,383

7,934

11,317

Additions

1,900

-

1,900

At 31 March 2023

5,283

7,934

13,217

Depreciation

At 1 April 2022

1,705

7,564

9,269

Charge for the year

537

93

630

At 31 March 2023

2,242

7,657

9,899

Carrying amount

At 31 March 2023

3,041

277

3,318

At 31 March 2022

1,678

370

2,048

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

13

116

Income tax liability

 

11,188

506

Other creditors

 

3,258

2,954

 

14,459

3,576

 

Northern Island Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Related party transactions

Transactions with directors

2023

At 1 April 2022
£

Advances from director
£

At 31 March 2023
£

Ms Judith Boyle

-

-

-

Director's loan account

1,454

303

1,757

 

1,454

303

1,757

     

 

2022

At 1 April 2021
£

Advances from director
£

At 31 March 2022
£

Ms Judith Boyle

-

-

-

Director's loan account

1,152

302

1,454

 

1,152

302

1,454

     

 

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2