BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the retail and wholesale distribution of oil. 31 July 2024 9 9 NI041804 2023-10-31 NI041804 2022-10-31 NI041804 2021-10-31 NI041804 2022-11-01 2023-10-31 NI041804 2021-11-01 2022-10-31 NI041804 uk-bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI041804 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI041804 uk-bus:AbridgedAccounts 2022-11-01 2023-10-31 NI041804 uk-core:ShareCapital 2023-10-31 NI041804 uk-core:ShareCapital 2022-10-31 NI041804 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI041804 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI041804 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI041804 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI041804 uk-bus:FRS102 2022-11-01 2023-10-31 NI041804 uk-core:LandBuildings 2022-11-01 2023-10-31 NI041804 uk-core:Land 2022-11-01 2023-10-31 NI041804 uk-core:PlantMachinery 2022-11-01 2023-10-31 NI041804 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI041804 uk-core:MotorVehicles 2022-11-01 2023-10-31 NI041804 uk-core:CostValuation 2023-10-31 NI041804 2022-11-01 2023-10-31 NI041804 uk-bus:Director1 2022-11-01 2023-10-31 NI041804 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Hanratty Fuels & Lubricants Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 October 2023



Hanratty Fuels & Lubricants Ltd
Company Registration Number: NI041804
ABRIDGED BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 256,797 285,583
Investments 5 43 43
───────── ─────────
Fixed Assets 256,840 285,626
───────── ─────────
 
Current Assets
Stocks 78,869 101,228
Debtors 455,519 225,205
Cash at bank and in hand 155,548 205,418
───────── ─────────
689,936 531,851
───────── ─────────
Creditors: amounts falling due within one year (407,958) (305,030)
───────── ─────────
Net Current Assets 281,978 226,821
───────── ─────────
Total Assets less Current Liabilities 538,818 512,447
 
Creditors:
amounts falling due after more than one year (38,224) (53,156)
───────── ─────────
Net Assets 500,594 459,291
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 500,593 459,290
───────── ─────────
Shareholders' Funds 500,594 459,291
═════════ ═════════
 
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.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges her 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 Director and authorised for issue on 31 July 2024
           
           
________________________________          
Miss Niamh Hanratty          
Director          
           



Hanratty Fuels & Lubricants Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
Hanratty Fuels & Lubricants Ltd is a private company limited by shares incorporated in Northern Ireland. 49 Dundalk Road, Crossmaglen, Newry, Co. Down, BT35 9HL, Northern Ireland is the registered office, which is also the principal place of business of the company. The company number NI041804.

The financial statements cover the individual entity for the year ended 31 October 2023 for the individual entity only.

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 October 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.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Turnover from the provision of goods is recognised when the risks & rewards of ownership have been transferred to the customer.
 
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 - Nil
  Long leasehold property - 4% Straight line
  Plant and machinery - 25% reducing balance
  Fixtures, fittings and equipment - 25% Reducing Balance
  Motor vehicles - 25% 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.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stockss are determined on a first-in first-out basis. 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.
 
Taxation and deferred 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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by 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.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2023 2022
  Number Number
 
Management and Administration 9 9
  ═════════ ═════════

               
4. Tangible assets
  Land and Long Plant and Fixtures, Motor Total
  buildings leasehold machinery fittings and vehicles  
  freehold property   equipment    
  £ £ £ £ £ £
Cost
At 1 November 2022 164,613 16,777 33,833 26,659 130,718 372,600
  ───────── ───────── ───────── ───────── ───────── ─────────
 
At 31 October 2023 164,613 16,777 33,833 26,659 130,718 372,600
  ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 November 2022 1,300 8,052 11,145 18,293 48,227 87,017
Charge for the financial year 325 671 5,075 2,092 20,623 28,786
  ───────── ───────── ───────── ───────── ───────── ─────────
At 31 October 2023 1,625 8,723 16,220 20,385 68,850 115,803
  ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 October 2023 162,988 8,054 17,613 6,274 61,868 256,797
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 31 October 2022 163,313 8,725 22,688 8,366 82,491 285,583
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════

       
5. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 October 2023 43 43
  ───────── ─────────
Net book value
At 31 October 2023 43 43
  ═════════ ═════════
At 31 October 2022 43 43
  ═════════ ═════════