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Company registration number:
NI046044
Trade Robes Limited
Unaudited filleted abridged financial statements
28 February 2023
Trade Robes Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Trade Robes Limited
Directors and other information
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Directors |
A Reid |
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W Reid |
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Secretary |
W Reid |
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Company number |
NI046044 |
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Registered office |
97a Moy Road |
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Dungannon |
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Co Tyrone |
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BT71 7DX |
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Accountants |
ASM (D) Ltd |
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79 Cunninghams Lane |
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Dungannon |
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Co Tyrone |
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BT71 6BX |
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Bankers |
Bank of Ireland |
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Scotch Street |
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Dungannon |
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Co Tyrone |
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Trade Robes Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Trade Robes Limited
Year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Trade Robes Limited for the year ended 28 February 2023 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of Trade Robes Limited, as a body, in accordance with the terms of our engagement letter dated 21 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Trade Robes Limited and state those matters that we have agreed to state to the board of directors of Trade Robes Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland, as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Trade Robes Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Trade Robes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Trade Robes Limited. You consider that Trade Robes Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Trade Robes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
ASM (D) Ltd
79 Cunninghams Lane
Dungannon
Co Tyrone
BT71 6BX
24 November 2023
Trade Robes Limited
Abridged statement of financial position
28 February 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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|
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Intangible assets |
|
5 |
13,000 |
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|
13,000 |
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Tangible assets |
|
6 |
209,904 |
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|
223,197 |
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|
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|
________ |
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________ |
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222,904 |
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236,197 |
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Current assets |
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Stocks |
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31,000 |
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15,000 |
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Debtors |
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74,021 |
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85,283 |
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Cash at bank and in hand |
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33,096 |
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157,714 |
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________ |
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________ |
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138,117 |
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257,997 |
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Creditors: amounts falling due |
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within one year |
|
7 |
(
133,009) |
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(
181,352) |
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________ |
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________ |
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Net current assets |
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5,108 |
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76,645 |
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________ |
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________ |
Total assets less current liabilities |
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228,012 |
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312,842 |
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Creditors: amounts falling due |
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after more than one year |
|
8 |
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(
41,450) |
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(
61,666) |
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Provisions for liabilities |
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(
52,138) |
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(
42,116) |
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________ |
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________ |
Net assets |
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134,424 |
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209,060 |
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________ |
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________ |
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Capital and reserves |
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Called up share capital |
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2 |
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2 |
Profit and loss account |
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134,422 |
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209,058 |
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________ |
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________ |
Shareholders funds |
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134,424 |
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209,060 |
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________ |
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________ |
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For the year ending 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:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
24 November 2023
, and are signed on behalf of the board by:
A Reid
Director
Company registration number:
NI046044
Trade Robes Limited
Notes to the financial statements
Year ended 28 February 2023
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 97a Moy Road, Dungannon, Co Tyrone, BT71 7DX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Short leasehold property |
- |
20 % |
reducing balance |
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Plant and machinery |
- |
20 % |
straight line |
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Fittings fixtures and equipment |
- |
20 % |
straight line |
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Motor vehicles |
- |
20 % |
reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2022:
14
).
5.
Intangible assets
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£ |
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Cost |
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At 1 March 2022 and 28 February 2023 |
70,710 |
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________ |
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Amortisation |
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At 1 March 2022 and 28 February 2023 |
57,710 |
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________ |
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Carrying amount |
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At 28 February 2023 |
13,000 |
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________ |
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At 28 February 2022 |
13,000 |
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________ |
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6.
Tangible assets
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£ |
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Cost |
|
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At 1 March 2022 |
399,421 |
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Additions |
11,978 |
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________ |
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At 28 February 2023 |
411,399 |
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________ |
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Depreciation |
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|
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At 1 March 2022 |
176,224 |
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Charge for the year |
25,271 |
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________ |
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At 28 February 2023 |
201,495 |
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________ |
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Carrying amount |
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At 28 February 2023 |
209,904 |
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|
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________ |
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At 28 February 2022 |
223,197 |
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________ |
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7.
Creditors: amounts falling due within one year
Obligations under hire purchase agreements of £27,195 (2022: £37,208) are secured on the assets for which the finance was originally obtained.
8.
Creditors: amounts falling due after more than one year
A bounce back loan of £34,667 (2022 - £43,333) is guaranteed by the UK Government under the Bounce Back Loan Scheme. The loan is repayable over 6 years with a rate of interest of 2.5%.