IRIS Accounts Production v23.3.1.45 NI642779 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false Ordinary shares 1.00000 16752 46708 47075 49205 33470 79161 30357 16752 Ordinary shares 1.00000 16752 46708 47075 49205 33470 79161 30357 16752 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6427792022-03-31NI6427792023-03-31NI6427792022-04-012023-03-31NI6427792021-03-31NI6427792021-04-012022-03-31NI6427792022-03-31NI642779ns10:Originalns15:NorthernIreland2022-04-012023-03-31NI642779ns14:PoundSterlingns10:Original2022-04-012023-03-31NI642779ns10:Originalns10:Director12022-04-012023-03-31NI642779ns10:Original2022-04-012023-03-31NI642779ns10:Originalns10:Director22022-04-012023-03-31NI642779ns10:Original2023-03-31NI642779ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-31NI642779ns10:Originalns10:SmallEntities2022-04-012023-03-31NI642779ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-31NI642779ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31NI642779ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-31NI642779ns10:Originalns10:FullAccounts2022-04-012023-03-31NI642779ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-31NI642779ns10:Original41ns10:Director12022-03-31NI642779ns10:Original41ns10:Director12021-03-31NI642779ns10:Original41ns10:Director12022-04-012023-03-31NI642779ns10:Original41ns10:Director12021-04-012022-03-31NI642779ns10:Original41ns10:Director12023-03-31NI642779ns10:Original41ns10:Director12022-03-31NI642779ns10:Originalns10:RegisteredOffice2022-04-012023-03-31NI642779ns10:Original2022-03-31NI642779ns10:Originalns5:CurrentFinancialInstruments2023-03-31NI642779ns10:Originalns5:CurrentFinancialInstruments2022-03-31NI642779ns5:ShareCapitalns10:Original2023-03-31NI642779ns5:ShareCapitalns10:Original2022-03-31NI642779ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-31NI642779ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31NI642779ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-04-012023-03-31NI642779ns10:Originalns5:PlantMachinery2022-04-012023-03-31NI642779ns10:Originalns5:FurnitureFittings2022-04-012023-03-31NI642779ns10:Originalns5:ComputerEquipment2022-04-012023-03-31NI642779ns10:Original2021-04-012022-03-31NI642779ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-03-31NI642779ns10:Originalns5:PlantMachinery2022-03-31NI642779ns10:Originalns5:FurnitureFittings2022-03-31NI642779ns10:Originalns5:ComputerEquipment2022-03-31NI642779ns10:Original2022-03-31NI642779ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2023-03-31NI642779ns10:Originalns5:PlantMachinery2023-03-31NI642779ns10:Originalns5:FurnitureFittings2023-03-31NI642779ns10:Originalns5:ComputerEquipment2023-03-31NI642779ns5:LongLeaseholdAssetsns10:Originalns5:LandBuildings2022-03-31NI642779ns10:Originalns5:PlantMachinery2022-03-31NI642779ns10:Originalns5:FurnitureFittings2022-03-31NI642779ns10:Originalns5:ComputerEquipment2022-03-31NI642779ns10:Originalns5:CurrentFinancialInstruments2022-04-012023-03-31NI642779ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2023-03-31NI642779ns5:AcceleratedTaxDepreciationDeferredTaxns10:Original2022-03-31NI642779ns10:Originalns5:DeferredTaxation2022-03-31NI642779ns10:Originalns5:DeferredTaxation2022-04-012023-03-31NI642779ns10:Originalns5:DeferredTaxation2023-03-31NI642779ns10:Originalns10:OrdinaryShareClass12023-03-31NI642779ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-31NI642779ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-04-012023-03-31NI642779ns10:Originalns10:Director222022-03-31NI642779ns10:Originalns10:Director222021-03-31NI642779ns10:Originalns10:Director222022-04-012023-03-31NI642779ns10:Originalns10:Director222021-04-012022-03-31NI642779ns10:Originalns10:Director222023-03-31NI642779ns10:Originalns10:Director222022-03-31
REGISTERED NUMBER: NI642779 (Northern Ireland)













Drink Store (Maghaberry) Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Drink Store (Maghaberry) Ltd (Registered number: NI642779)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3 to 6


Drink Store (Maghaberry) Ltd

Company Information
for the Year Ended 31 March 2023







Directors: Mr A Hendron
Mrs C Heaney





Registered office: 23 Maghaberry Road
Moira
Craigavon
Co Armagh
BT67 0JF





Registered number: NI642779 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Drink Store (Maghaberry) Ltd (Registered number: NI642779)

Statement of Financial Position
31 March 2023

2023 2022
Notes £ £
Fixed assets
Property, plant and equipment 4 39,500 46,268

Current assets
Inventories 5 57,561 53,251
Receivables 6 1,738 1,370
Cash at bank and in hand 76,364 79,214
135,663 133,835
Payables
Amounts falling due within one year 7 (89,814 ) (77,809 )
Net current assets 45,849 56,026
Total assets less current liabilities 85,349 102,294

Provisions for liabilities 8 (6,644 ) (7,885 )
Net assets 78,705 94,409

Capital and reserves
Called up share capital 9 100 100
Retained earnings 10 78,605 94,309
Shareholders' funds 78,705 94,409

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 November 2023 and were signed on its behalf by:



Mr A Hendron - Director



Mrs C Heaney - Director


Drink Store (Maghaberry) Ltd (Registered number: NI642779)

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


1. Statutory information

Drink Store (Maghaberry) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 4% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - straight line over 3 years

Inventories
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Drink Store (Maghaberry) Ltd (Registered number: NI642779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3. Employees and directors

The average number of employees during the year was 5 (2022 - 2 ) .

Drink Store (Maghaberry) Ltd (Registered number: NI642779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. Property, plant and equipment
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£ £ £ £ £
Cost
At 1 April 2022 5,965 25,708 61,130 5,527 98,330
Additions - - - 1,713 1,713
At 31 March 2023 5,965 25,708 61,130 7,240 100,043
Depreciation
At 1 April 2022 1,195 14,301 33,674 2,892 52,062
Charge for year 239 1,711 4,118 2,413 8,481
At 31 March 2023 1,434 16,012 37,792 5,305 60,543
Net book value
At 31 March 2023 4,531 9,696 23,338 1,935 39,500
At 31 March 2022 4,770 11,407 27,456 2,635 46,268

5. Inventories
2023 2022
£ £
Goods for resale 57,561 53,251

6. Receivables: amounts falling
due within one year
2023 2022
£ £
Prepayments 1,738 1,370

7. Payables: amounts falling due within one year
2023 2022
£ £
Trade payables 40,103 40,075
Taxation and social security 8,892 12,624
Other payables 40,819 25,110
89,814 77,809

Included within other payables is an amount of £30,357 (2022: £16,752) owing to the directors, Mr A Hendron and Mrs C Heaney.

8. Provisions for liabilities
2023 2022
£ £
Deferred tax
Accelerated capital allowances 6,644 7,885

Drink Store (Maghaberry) Ltd (Registered number: NI642779)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


8. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 April 2022 7,885
Provided during year (1,241 )
Balance at 31 March 2023 6,644

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary shares 1 100 100

10. Reserves
Retained
earnings
£

At 1 April 2022 94,309
Profit for the year 29,376
Dividends (45,080 )
At 31 March 2023 78,605

11. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

2023 2022
£ £
Mrs C Heaney and Mr A Hendron
Balance outstanding at start of year 16,752 46,708
Amounts advanced 47,075 49,205
Amounts repaid (33,470 ) (79,161 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 30,357 16,752