IRIS Accounts Production v24.2.0.383 NI631467 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6314672023-05-31NI6314672024-05-31NI6314672023-06-012024-05-31NI6314672022-05-31NI6314672022-06-012023-05-31NI6314672023-05-31NI631467ns15:NorthernIreland2023-06-012024-05-31NI631467ns14:PoundSterling2023-06-012024-05-31NI631467ns10:Director12023-06-012024-05-31NI631467ns10:PrivateLimitedCompanyLtd2023-06-012024-05-31NI631467ns10:SmallEntities2023-06-012024-05-31NI631467ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-31NI631467ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-31NI631467ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-31NI631467ns10:FullAccounts2023-06-012024-05-31NI631467ns10:Director22023-06-012024-05-31NI631467ns10:Director32023-06-012024-05-31NI631467ns10:RegisteredOffice2023-06-012024-05-31NI631467ns5:CurrentFinancialInstruments2024-05-31NI631467ns5:CurrentFinancialInstruments2023-05-31NI631467ns5:Non-currentFinancialInstruments2024-05-31NI631467ns5:Non-currentFinancialInstruments2023-05-31NI631467ns5:ShareCapital2024-05-31NI631467ns5:ShareCapital2023-05-31NI631467ns5:RetainedEarningsAccumulatedLosses2024-05-31NI631467ns5:RetainedEarningsAccumulatedLosses2023-05-31NI631467ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-06-012024-05-31NI631467ns5:PlantMachinery2023-06-012024-05-31NI631467ns5:FurnitureFittings2023-06-012024-05-31NI631467ns5:MotorVehicles2023-06-012024-05-31NI631467ns5:LandBuildings2023-05-31NI631467ns5:PlantMachinery2023-05-31NI631467ns5:FurnitureFittings2023-05-31NI631467ns5:LandBuildings2023-06-012024-05-31NI631467ns5:LandBuildings2024-05-31NI631467ns5:PlantMachinery2024-05-31NI631467ns5:FurnitureFittings2024-05-31NI631467ns5:LandBuildings2023-05-31NI631467ns5:PlantMachinery2023-05-31NI631467ns5:FurnitureFittings2023-05-31NI631467ns5:MotorVehicles2023-05-31NI631467ns5:ComputerEquipment2023-05-31NI631467ns5:ComputerEquipment2023-06-012024-05-31NI631467ns5:MotorVehicles2024-05-31NI631467ns5:ComputerEquipment2024-05-31NI631467ns5:MotorVehicles2023-05-31NI631467ns5:ComputerEquipment2023-05-31NI631467ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-31NI631467ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-06-012024-05-31NI631467ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-05-31NI631467ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-31NI631467ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-31NI631467ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-31
REGISTERED NUMBER: NI631467 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Heslip Fishing Ltd

Heslip Fishing Ltd (Registered number: NI631467)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Heslip Fishing Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mrs C Heslip
C Heslip
P Heslip





REGISTERED OFFICE: 38 Church Meadow
Mountain Road
Kilkeel
Co. Down
BT34 4YE





REGISTERED NUMBER: NI631467 (Northern Ireland)





ACCOUNTANT: E M Sheehan Limited
Chartered Certified Accountants
T/A E M Sheehan & Co
30A Greencastle Street
Kilkeel
Co. Down
BT34 4BH

Heslip Fishing Ltd (Registered number: NI631467)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,002 58,296

CURRENT ASSETS
Debtors 5 12,096 22,060
Cash at bank 33,934 14,124
46,030 36,184
CREDITORS
Amounts falling due within one year 6 22,353 19,893
NET CURRENT ASSETS 23,677 16,291
TOTAL ASSETS LESS CURRENT
LIABILITIES

66,679

74,587

CREDITORS
Amounts falling due after more than
one year

7

45,684

37,633
NET ASSETS 20,995 36,954

Heslip Fishing Ltd (Registered number: NI631467)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 20,895 36,854
20,995 36,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by:





C Heslip - Director


Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Heslip Fishing Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 10% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 145,000 62,974 492
Additions - 6,071 -
Disposals - (1,521 ) -
At 31 May 2024 145,000 67,524 492
DEPRECIATION
At 1 June 2023 116,000 36,780 492
Charge for year 14,500 5,560 -
Eliminated on disposal - (654 ) -
At 31 May 2024 130,500 41,686 492
NET BOOK VALUE
At 31 May 2024 14,500 25,838 -
At 31 May 2023 29,000 26,194 -

Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 24,821 - 233,287
Additions - 483 6,554
Disposals - - (1,521 )
At 31 May 2024 24,821 483 238,320
DEPRECIATION
At 1 June 2023 21,719 - 174,991
Charge for year 775 146 20,981
Eliminated on disposal - - (654 )
At 31 May 2024 22,494 146 195,318
NET BOOK VALUE
At 31 May 2024 2,327 337 43,002
At 31 May 2023 3,102 - 58,296

Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 June 2023
and 31 May 2024 20,400
DEPRECIATION
At 1 June 2023 8,002
Charge for year 2,480
At 31 May 2024 10,482
NET BOOK VALUE
At 31 May 2024 9,918
At 31 May 2023 12,398

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Trade debtors 7,840 18,238
Other debtors 4,256 3,822
12,096 22,060

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 4,627 5,074
Trade creditors 6,735 3,015
Taxation and social security 7,440 9,117
Other creditors 3,551 2,687
22,353 19,893

Heslip Fishing Ltd (Registered number: NI631467)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts - 4,627
Other creditors 45,684 33,006
45,684 37,633