ERRIGAL MOTORS NW LIMITED

Company Registration Number:
NI658345 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 January 2024

Period of accounts

Start date: 01 February 2023

End date: 31 January 2024

ERRIGAL MOTORS NW LIMITED

Contents of the Financial Statements

for the Period Ended 31 January 2024

Balance sheet
Notes

ERRIGAL MOTORS NW LIMITED

Balance sheet

As at 31 January 2024


Notes

2024

2023


£

£
Current assets
Stocks: 67,298 70,690
Debtors: 3 0 20,343
Cash at bank and in hand: 8,119 4,625
Total current assets: 75,417 95,658
Creditors: amounts falling due within one year:   (74,752) (95,481)
Net current assets (liabilities): 665 177
Total assets less current liabilities: 665 177
Total net assets (liabilities): 665 177
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 565 77
Shareholders funds: 665 177

The notes form part of these financial statements

ERRIGAL MOTORS NW LIMITED

Balance sheet statements

For the year ending 31 January 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 09 May 2024
and signed on behalf of the board by:

Name: Ciaran Gallagher
Status: Director

The notes form part of these financial statements

ERRIGAL MOTORS NW LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Other accounting policies

Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value though profit or loss. The financial statements are prepared in Sterling, which is the functional currency of the entity. Going Concern After reviewing the company's financial statements and other books and records, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

ERRIGAL MOTORS NW LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

ERRIGAL MOTORS NW LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

3. Debtors

2024 2023
££
Debtors due after more than one year: 0 20,343

ERRIGAL MOTORS NW LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

4. Loans to directors

Name of director receiving advance or credit: Ciaran Gallagher
Description of the loan: The director, Ciaran Gallagher has provided an interest free loan to the company. The balance on this loan at the 31 January 2023 was £18,500 cr. This amount is included in "Creditors: Amounts falling due within one year" in the balance sheet.
£
Balance at 01 February 2023 18,500
Balance at 31 January 2024 18,500

ERRIGAL MOTORS NW LIMITED

Notes to the Financial Statements

for the Period Ended 31 January 2024

5. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: The director, Ciaran Gallagher has provided an interest free loan to the company. The balance on this loan at the 31 January 2023 was £18,500 cr. This amount is included in "Creditors: Amounts falling due within one year" in the balance sheet.
£
Balance at 01 February 2023 18,500
Balance at 31 January 2024 18,500