Company Registration No. NI630277 (Northern Ireland)
Lyons N.I. Ltd.
Unaudited accounts
for the year ended 31 May 2024
Lyons N.I. Ltd.
Unaudited accounts
Contents
Lyons N.I. Ltd.
Company Information
for the year ended 31 May 2024
Directors
Mr J Lyons
Mr FJ Lyons
Company Number
NI630277 (Northern Ireland)
Registered Office
Lyons N.I. Ltd
26D Moygannon Road
Donaghcloney
Armagh
BT66 7NB
Accountants
JMW
74 Ballantine Gardens
Lisburn
Co. Down
BT27 5FB
Lyons N.I. Ltd.
Statement of financial position
as at 31 May 2024
Intangible assets
7,500
12,500
Tangible assets
359,391
188,820
Inventories
408,136
364,625
Cash at bank and in hand
246,844
343,789
Creditors: amounts falling due within one year
(373,551)
(333,193)
Net current assets
684,864
782,061
Total assets less current liabilities
1,051,755
983,381
Creditors: amounts falling due after more than one year
(143,711)
(144,330)
Provisions for liabilities
Other provisions
(10,278)
(13,441)
Net assets
897,766
825,610
Called up share capital
2
2
Profit and loss account
897,764
825,608
Shareholders' funds
897,766
825,610
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by
Mr FJ Lyons
Director
Company Registration No. NI630277
Lyons N.I. Ltd.
Notes to the Accounts
for the year ended 31 May 2024
Lyons N.I. Ltd. is a private company, limited by shares, registered in Northern Ireland, registration number NI630277. The registered office is Lyons N.I. Ltd, 26D Moygannon Road, Donaghcloney, Armagh, BT66 7NB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Plant & machinery
20% Reducing Balance
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Lyons N.I. Ltd.
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
133,983
9,209
74,890
32,670
250,752
Additions
103,010
2,016
68,198
10,907
184,131
At 31 May 2024
236,993
11,225
143,088
43,577
434,883
At 1 June 2023
450
6,205
29,864
25,413
61,932
Charge for the year
90
1,004
9,006
3,460
13,560
At 31 May 2024
540
7,209
38,870
28,873
75,492
At 31 May 2024
236,453
4,016
104,218
14,704
359,391
At 31 May 2023
133,533
3,004
45,026
7,257
188,820
Amounts falling due within one year
Trade debtors
399,828
403,233
Accrued income and prepayments
3,607
3,607
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
275,735
214,696
Taxes and social security
33,663
53,255
Loans from directors
20,000
20,000
Lyons N.I. Ltd.
Notes to the Accounts
for the year ended 31 May 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
143,711
144,330
9
Average number of employees
During the year the average number of employees was 15 (2023: 15).