Registration number:
S H Coleman (Glarryford) Limited
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 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
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|
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Total assets less current liabilities |
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|
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Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
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:
• |
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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 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
......................................... |
S H Coleman (Glarryford) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
S H Coleman (Glarryford) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other property, plant and equipment |
Total |
|
Cost or valuation |
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At 1 December 2022 |
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Additions |
- |
- |
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Disposals |
- |
- |
- |
( |
( |
At 30 November 2023 |
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Depreciation |
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At 1 December 2022 |
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Charge for the year |
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Eliminated on disposal |
- |
- |
- |
( |
( |
At 30 November 2023 |
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Carrying amount |
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At 30 November 2023 |
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At 30 November 2022 |
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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
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.
Stocks |
2023 |
2022 |
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Other inventories |
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debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
- |
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Other creditors |
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|
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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S H Coleman (Glarryford) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Loans and borrowings |
Non-current loans and borrowings
2023 |
2022 |
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Bank borrowings |
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Hire purchase contracts |
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Current loans and borrowings
2023 |
2022 |
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Bank borrowings |
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Bank overdrafts |
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Hire purchase contracts |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Dividends |
Final dividends paid
2023 |
2022 |
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Final dividend of £ |
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S H Coleman (Glarryford) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023
Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2023 |
2022 |
|
Remuneration |
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|
Contributions paid to money purchase schemes |
|
|
22,061 |
22,061 |