2023-04-012024-03-312024-03-31falseNI051815UHY HACKER YOUNG FITCH LIMITED2024-08-25iso4217:GBPxbrli:pureNI0518152023-04-01NI0518152024-03-31NI0518152023-04-012024-03-31NI0518152022-01-01NI0518152023-03-31NI0518152022-01-012023-03-31NI051815bus:SmallEntities2023-04-012024-03-31NI051815bus:AuditExempt-NoAccountantsReport2023-04-012024-03-31NI051815bus:FullAccounts2023-04-012024-03-31NI051815bus:PrivateLimitedCompanyLtd2023-04-012024-03-31NI051815core:WithinOneYear2024-03-31NI051815core:AfterOneYear2024-03-31NI051815core:WithinOneYear2023-03-31NI051815core:AfterOneYear2023-03-31NI051815core:ShareCapital2024-03-31NI051815core:SharePremium2024-03-31NI051815core:RevaluationReserve2024-03-31NI051815core:OtherReservesSubtotal2024-03-31NI051815core:RetainedEarningsAccumulatedLosses2024-03-31NI051815core:ShareCapital2023-03-31NI051815core:SharePremium2023-03-31NI051815core:RevaluationReserve2023-03-31NI051815core:OtherReservesSubtotal2023-03-31NI051815core:RetainedEarningsAccumulatedLosses2023-03-31NI051815core:LandBuildings2024-03-31NI051815core:PlantMachinery2024-03-31NI051815core:Vehicles2024-03-31NI051815core:FurnitureFittings2024-03-31NI051815core:OfficeEquipment2024-03-31NI051815core:NetGoodwill2024-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2024-03-31NI051815core:ListedExchangeTraded2024-03-31NI051815core:UnlistedNon-exchangeTraded2024-03-31NI051815core:LandBuildings2023-03-31NI051815core:PlantMachinery2023-03-31NI051815core:Vehicles2023-03-31NI051815core:FurnitureFittings2023-03-31NI051815core:OfficeEquipment2023-03-31NI051815core:NetGoodwill2023-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2023-03-31NI051815core:ListedExchangeTraded2023-03-31NI051815core:UnlistedNon-exchangeTraded2023-03-31NI051815core:LandBuildings2023-04-012024-03-31NI051815core:PlantMachinery2023-04-012024-03-31NI051815core:Vehicles2023-04-012024-03-31NI051815core:FurnitureFittings2023-04-012024-03-31NI051815core:OfficeEquipment2023-04-012024-03-31NI051815core:NetGoodwill2023-04-012024-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31NI051815core:ListedExchangeTraded2023-04-012024-03-31NI051815core:UnlistedNon-exchangeTraded2023-04-012024-03-31NI051815core:MoreThanFiveYears2023-04-012024-03-31NI051815core:Non-currentFinancialInstruments2024-03-31NI051815core:Non-currentFinancialInstruments2023-03-31NI051815dpl:CostSales2023-04-012024-03-31NI051815dpl:DistributionCosts2023-04-012024-03-31NI051815core:LandBuildings2023-04-012024-03-31NI051815core:PlantMachinery2023-04-012024-03-31NI051815core:Vehicles2023-04-012024-03-31NI051815core:FurnitureFittings2023-04-012024-03-31NI051815core:OfficeEquipment2023-04-012024-03-31NI051815dpl:AdministrativeExpenses2023-04-012024-03-31NI051815core:NetGoodwill2023-04-012024-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-31NI051815dpl:GroupUndertakings2023-04-012024-03-31NI051815dpl:ParticipatingInterests2023-04-012024-03-31NI051815dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-31NI051815core:ListedExchangeTraded2023-04-012024-03-31NI051815dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-31NI051815core:UnlistedNon-exchangeTraded2023-04-012024-03-31NI051815dpl:CostSales2022-01-012023-03-31NI051815dpl:DistributionCosts2022-01-012023-03-31NI051815core:LandBuildings2022-01-012023-03-31NI051815core:PlantMachinery2022-01-012023-03-31NI051815core:Vehicles2022-01-012023-03-31NI051815core:FurnitureFittings2022-01-012023-03-31NI051815core:OfficeEquipment2022-01-012023-03-31NI051815dpl:AdministrativeExpenses2022-01-012023-03-31NI051815core:NetGoodwill2022-01-012023-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2022-01-012023-03-31NI051815dpl:GroupUndertakings2022-01-012023-03-31NI051815dpl:ParticipatingInterests2022-01-012023-03-31NI051815dpl:GroupUndertakingscore:ListedExchangeTraded2022-01-012023-03-31NI051815core:ListedExchangeTraded2022-01-012023-03-31NI051815dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-01-012023-03-31NI051815core:UnlistedNon-exchangeTraded2022-01-012023-03-31NI051815core:NetGoodwill2024-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2024-03-31NI051815core:LandBuildings2024-03-31NI051815core:PlantMachinery2024-03-31NI051815core:Vehicles2024-03-31NI051815core:FurnitureFittings2024-03-31NI051815core:OfficeEquipment2024-03-31NI051815core:AfterOneYear2024-03-31NI051815core:WithinOneYear2024-03-31NI051815core:ListedExchangeTraded2024-03-31NI051815core:UnlistedNon-exchangeTraded2024-03-31NI051815core:ShareCapital2024-03-31NI051815core:SharePremium2024-03-31NI051815core:RevaluationReserve2024-03-31NI051815core:OtherReservesSubtotal2024-03-31NI051815core:RetainedEarningsAccumulatedLosses2024-03-31NI051815core:NetGoodwill2023-03-31NI051815core:IntangibleAssetsOtherThanGoodwill2023-03-31NI051815core:LandBuildings2023-03-31NI051815core:PlantMachinery2023-03-31NI051815core:Vehicles2023-03-31NI051815core:FurnitureFittings2023-03-31NI051815core:OfficeEquipment2023-03-31NI051815core:AfterOneYear2023-03-31NI051815core:WithinOneYear2023-03-31NI051815core:ListedExch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UHY HACKER YOUNG FITCH LIMITED

Registered Number
NI051815
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

UHY HACKER YOUNG FITCH LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

FITCH, Michael Craig
MCCULLOUGH, Samuel Scott

Company Secretary

FITCH, Gillian Barbara

Registered Address

Suite 2.06, Custom House Custom House Square
Belfast
BT1 3ET

Registered Number

NI051815 (Northern Ireland)
UHY HACKER YOUNG FITCH LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets476,13033,020
Investments522
76,13233,022
Current assets
Debtors6684,177763,422
Cash at bank and on hand213,487330,073
897,6641,093,495
Creditors amounts falling due within one year7(780,188)(903,142)
Net current assets (liabilities)117,476190,353
Total assets less current liabilities193,608223,375
Provisions for liabilities8(18,824)(8,124)
Net assets174,784215,251
Capital and reserves
Called up share capital104104
Profit and loss account174,680215,147
Shareholders' funds174,784215,251
The financial statements were approved and authorised for issue by the Board of Directors on 25 August 2024, and are signed on its behalf by:
FITCH, Michael Craig
Director
Registered Company No. NI051815
UHY HACKER YOUNG FITCH LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
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).
Revenue from rendering of services
Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Interest income
Interest income is recognised using the effective interest rate method.
Dividend income
Dividend income is recognised when the right to receive payment is established.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Defined contribution pension plan
The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)Straight line (years)
Fixtures and fittings20-
Vehicles-10
Office Equipment20-
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year1010
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 23600,000600,000
At 31 March 24600,000600,000
Amortisation and impairment
At 01 April 23600,000600,000
At 31 March 24600,000600,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Vehicles

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 23-105,992165,560271,552
Additions61,4781,09315,15477,725
Disposals-(105,992)(148,084)(254,076)
At 31 March 2461,4781,09332,63095,201
Depreciation and impairment
At 01 April 23-98,502140,030238,532
Charge for year7,8701,4988,63117,999
On disposals-(100,000)(137,460)(237,460)
At 31 March 247,870-11,20119,071
Net book value
At 31 March 2453,6081,09321,42976,130
At 31 March 23-7,49025,53033,020
5.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 April 2322
At 31 March 2422
Net book value
At 31 March 2422
At 31 March 2322

Notes

1Other investments other than loans
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables547,059507,010
Other debtors88,346209,278
Prepayments and accrued income48,77247,134
Total684,177763,422
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables20,95911,519
Bank borrowings and overdrafts9,06537,200
Taxation and social security102,091179,107
Other creditors591,555671,189
Accrued liabilities and deferred income56,5184,127
Total780,188903,142
8.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 profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet 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 Balance sheet.

2024

2023

££
Net deferred tax liability (asset)18,8248,124
Total18,8248,124
9.Financial instruments
Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.
10.Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £25,763 (2023 - £21,957). Contributions totaling £2,712 (2023 - £2,319) were payable to the fund at the balance sheet date and are included in creditors.
11.Related party transactions
During the year the company entered into transactions, in the ordinary course of business with other related parties. Transactions entered into and trading balances outstanding at 31 March 2024, are as follows: Terms and conditions of transactions with related parties Sales and purchases between related parties are made at normal market prices. Outstanding balances with entities are unsecured, interest is payable at a rate of 0% to 20% and cash settlement is expected within 60 days of invoice. The Company has not provided or benefited from any guarantees for any related party receivables or payables. During the period ended 31 March 2024, the Company has not made any provision for doubtful debts relating to amounts owed by related parties (2023: £nil). Key management personnel All directors who have authority and responsibility for planning, directing and controlling the activities of the Company are considered to be key management personnel. Total payments in respect of these individuals is £111,418 (2023: £163,993). At the balance sheet date, the company balance owed to key management personnel is £99,427 (2023: £2,974).
12.Controlling party
The ultimate controlling party is Michael C Fitch by virtue of his ordinary shareholding in the company.