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Registered Number: NI685772
Northern Ireland

 

 

 

THE IRONING ROOM (NI) LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 11 February 2022

End date: 28 February 2023
Directors Marie Bronagh CURRAN
Sinead CURRAN
Registered Number NI685772
Registered Office 99 Syerla Road
Dungannon
Tyrone
BT71 7ET
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 28 February 2023
Principal activities
The companys principal activity during the year was Ironing.
Directors
The directors who served the company throughout the period were as follows:
Marie Bronagh CURRAN
Sinead CURRAN
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

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). 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 then apply them consistently
  • make judgments 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 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. The directors 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
Sinead CURRAN
Director

Date approved: 10 November 2023
2
 
 
Notes
 
2023
£
Fixed assets    
Tangible fixed assets 3 15,550 
15,550 
Current assets    
Debtors 4 1 
Cash at bank and in hand 14,307 
14,308 
Creditors: amount falling due within one year 5 (805)
Net current assets 13,503 
 
Total assets less current liabilities 29,053 
Creditors: amount falling due after more than one year 6 (17,312)
Net assets 11,741 
 

Capital and reserves
   
Called up share capital 7 1 
Profit and loss account 11,740 
Shareholder's funds 11,741 
 


For the period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 November 2023 and were signed on its behalf by:


-------------------------------
Sinead CURRAN
Director
3
General Information
The Ironing Room (NI) Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI685772, registration address 99 Syerla Road, Dungannon, Tyrone, BT71 7ET.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10 Straight Line
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2.

Average number of employees

Average number of employees during the period was 2.
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 11 February 2022  
Additions 17,300    17,300 
Disposals  
At 28 February 2023 17,300    17,300 
Depreciation
At 11 February 2022  
Charge for period 1,750    1,750 
On disposals  
At 28 February 2023 1,750    1,750 
Net book values
Closing balance as at 28 February 2023 15,550    15,550 
Opening balance as at 11 February 2022  


4.

Debtors: amounts falling due within one year

2023
£
Called up Share Capital Not Paid 1 
1 

5.

Creditors: amount falling due within one year

2023
£
Corporation Tax 305 
Accrued Expenses 500 
805 

6.

Creditors: amount falling due after more than one year

2023
£
Directors' Loan Accounts 17,312 
17,312 

7.

Share Capital

Authorised
10 Class A shares of £0.10 each
Allotted, called up and fully paid
2023
£
10 Class A shares of £0.10 each

8.

Ultimate Controlling Party

The ultimate controlling party is Marie Bronagh Curran and Sinead Curran.
4