S H Coleman (Glarryford) Limited NI014161 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is sale of fertilizer, mixing and sale of animal feeds and haulage Digita Accounts Production Advanced 6.30.9574.0 true true true NI014161 2022-12-01 2023-11-30 NI014161 2023-11-30 NI014161 bus:OrdinaryShareClass1 2023-11-30 NI014161 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-11-30 NI014161 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-11-30 NI014161 core:CurrentFinancialInstruments 2023-11-30 NI014161 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 NI014161 core:Non-currentFinancialInstruments 2023-11-30 NI014161 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 NI014161 core:Buildings 2023-11-30 NI014161 core:FurnitureFittingsToolsEquipment 2023-11-30 NI014161 core:LandBuildings 2023-11-30 NI014161 core:MotorVehicles 2023-11-30 NI014161 core:OtherPropertyPlantEquipment 2023-11-30 NI014161 bus:SmallEntities 2022-12-01 2023-11-30 NI014161 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 NI014161 bus:FilletedAccounts 2022-12-01 2023-11-30 NI014161 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI014161 bus:RegisteredOffice 2022-12-01 2023-11-30 NI014161 bus:Director1 2022-12-01 2023-11-30 NI014161 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 NI014161 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI014161 core:Buildings 2022-12-01 2023-11-30 NI014161 core:FurnitureFittings 2022-12-01 2023-11-30 NI014161 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 NI014161 core:LandBuildings 2022-12-01 2023-11-30 NI014161 core:MotorVehicles 2022-12-01 2023-11-30 NI014161 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 NI014161 countries:NorthernIreland 2022-12-01 2023-11-30 NI014161 2022-11-30 NI014161 core:FurnitureFittingsToolsEquipment 2022-11-30 NI014161 core:LandBuildings 2022-11-30 NI014161 core:MotorVehicles 2022-11-30 NI014161 core:OtherPropertyPlantEquipment 2022-11-30 NI014161 2021-12-01 2022-11-30 NI014161 2022-11-30 NI014161 bus:OrdinaryShareClass1 2022-11-30 NI014161 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-11-30 NI014161 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-11-30 NI014161 core:CurrentFinancialInstruments 2022-11-30 NI014161 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 NI014161 core:Non-currentFinancialInstruments 2022-11-30 NI014161 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 NI014161 core:Buildings 2022-11-30 NI014161 core:FurnitureFittingsToolsEquipment 2022-11-30 NI014161 core:LandBuildings 2022-11-30 NI014161 core:MotorVehicles 2022-11-30 NI014161 core:OtherPropertyPlantEquipment 2022-11-30 NI014161 bus:OrdinaryShareClass1 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI014161

S H Coleman (Glarryford) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

S H Coleman (Glarryford) Limited

(Registration number: NI014161)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

674,803

626,633

Current assets

 

Stocks

5

407,572

429,522

Debtors

6

873,225

1,011,628

Cash at bank and in hand

 

308

306

 

1,281,105

1,441,456

Creditors: Amounts falling due within one year

7

(1,043,117)

(1,281,620)

Net current assets

 

237,988

159,836

Total assets less current liabilities

 

912,791

786,469

Creditors: Amounts falling due after more than one year

7

(57,952)

(74,945)

Provisions for liabilities

(150,276)

(99,899)

Net assets

 

704,563

611,625

Capital and reserves

 

Called up share capital

9

100

100

Revaluation reserve

70,000

70,000

Retained earnings

634,463

541,525

Shareholders' funds

 

704,563

611,625

 

S H Coleman (Glarryford) Limited

(Registration number: NI014161)
Balance Sheet as at 30 November 2023

For the financial year ending 30 November 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 August 2024 and signed on its behalf by:
 

.........................................
Mr S H Coleman
Director

 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
160 Dunminning Road
Glarryford
BALLYMENA
Co Antrim
BT44 9ET

These financial statements were authorised for issue by the Board on 21 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency of these financial statements is sterling and all amounts have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. As at the date of sign off of the financial statements, the directors believe that the company will continue as a going concern and will be able to realise its assets, and discharge its liabilities in the normal course of business.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.The company assesses at each reporting date whether tangible fixed assets are impaired
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Buildings

8% straight line

Fixtures and fittings

20% straight line

Motor vehicles

15% straight line

Other property , plant and equipment

10% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Leases

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2022 - 12).

 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

401,944

25,208

289,195

803,837

1,520,184

Additions

-

-

40,750

190,800

231,550

Disposals

-

-

-

(68,000)

(68,000)

At 30 November 2023

401,944

25,208

329,945

926,637

1,683,734

Depreciation

At 1 December 2022

317,545

17,760

141,726

416,520

893,551

Charge for the year

23,198

3,012

44,812

67,158

138,180

Eliminated on disposal

-

-

-

(22,800)

(22,800)

At 30 November 2023

340,743

20,772

186,538

460,878

1,008,931

Carrying amount

At 30 November 2023

61,201

4,436

143,407

465,759

674,803

At 30 November 2022

84,399

7,448

147,469

387,317

626,633

 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Revaluation

The fair value of the company's buildings was revalued on 30 November 2013 by an independent valuer.
The basis of this valuation was open market value.. The valuation was carried out by J H McKinney & Son.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £Nil (2022 - £Nil).

Included within the net book value of land and buildings above is £61,201 (2022 - £84,399) in respect of freehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

407,572

429,522

6

debtors

Current

2023
£

2022
£

Trade debtors

796,985

954,256

Prepayments

29,476

13,363

Other debtors

46,764

44,009

 

873,225

1,011,628

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

278,255

298,073

Trade creditors

 

759,450

915,154

Taxation and social security

 

5,250

38,352

Accruals and deferred income

 

-

4,500

Other creditors

 

162

25,541

 

1,043,117

1,281,620

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

57,952

74,945

 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,970

25,825

Hire purchase contracts

41,982

49,120

57,952

74,945

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,654

10,654

Bank overdrafts

187,581

232,598

Hire purchase contracts

80,020

54,821

278,255

298,073

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of £280.00 (2022 - £320.00) per each Ordinary

28,000

32,000

 

 
 

S H Coleman (Glarryford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

21,600

21,600

Contributions paid to money purchase schemes

461

461

22,061

22,061