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Sage Accounts Production 23.0 - FRS102_2023
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NI026632
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NI026632
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NI026632
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NI026632
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NI026632
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2023-03-01
2024-02-28
NI026632
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2023-03-01
2024-02-28
NI026632
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2023-03-01
2024-02-28
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2023-02-28
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2023-02-28
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2024-02-28
Company registration number:
NI026632
Hemel Limited
Unaudited filleted abridged financial statements
28 February 2024
Hemel Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Hemel Limited
Directors and other information
|
|
|
|
Director |
Mr E Toner |
|
|
|
|
|
|
|
Secretary |
Mrs B Toner |
|
|
|
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|
Company number |
NI026632 |
|
|
|
|
|
|
|
Registered office |
Site 12 |
|
|
Forge Lane |
|
|
Moy |
|
|
Co Tyrone |
|
|
BT71 7SB |
|
|
|
|
|
|
|
Accountants |
ASM (D) Ltd |
|
|
79 Cunninghams Lane |
|
|
Dungannon |
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|
Co Tyrone |
|
|
BT71 6BX |
|
|
|
|
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|
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|
|
|
|
|
|
Bankers |
Ulster Bank Ltd |
|
|
39 Market Square |
|
|
Dungannon |
|
|
Co Tyrone |
|
|
BT70 1JJ |
|
|
|
|
|
|
|
Solicitors |
Eversheds Sutherland NI |
|
|
Scottish Provident Building |
|
|
7 Donegall Square West |
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|
Belfast |
|
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|
Hemel Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Hemel Limited
Year ended 28 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hemel Limited for the year ended 28 February 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of Hemel Limited, as a body, in accordance with the terms of our engagement letter dated 31 March 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Hemel Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland, as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hemel Limited and its director as a body for our work or for this report.
It is your duty to ensure that Hemel Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hemel Limited. You consider that Hemel Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Hemel Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
ASM (D) Ltd
Chartered Accountants
79 Cunninghams Lane
Dungannon
Co Tyrone
BT71 6BX
3 September 2024
Hemel Limited
Abridged statement of financial position
28 February 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
46,515 |
|
|
|
55,017 |
|
|
Tangible assets |
|
6 |
2,989,391 |
|
|
|
2,879,964 |
|
|
Investments |
|
7 |
491,145 |
|
|
|
491,145 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
3,527,051 |
|
|
|
3,426,126 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Stocks |
|
|
207,594 |
|
|
|
216,702 |
|
|
Debtors |
|
|
37,765 |
|
|
|
31,966 |
|
|
Cash at bank and in hand |
|
|
446,732 |
|
|
|
628,481 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
692,091 |
|
|
|
877,149 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
|
(
851,420) |
|
|
|
(
876,880) |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
Net current (liabilities)/assets |
|
|
|
|
(
159,329) |
|
|
|
269 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Total assets less current liabilities |
|
|
|
|
3,367,722 |
|
|
|
3,426,395 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
|
|
|
(
119,167) |
|
|
|
(
229,167) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
|
|
|
(
174,790) |
|
|
|
(
129,950) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_________ |
|
|
|
_________ |
Net assets |
|
|
|
|
3,073,765 |
|
|
|
3,067,278 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
|
|
|
22 |
|
|
|
22 |
Profit and loss account |
|
|
|
|
3,073,743 |
|
|
|
3,067,256 |
|
|
|
|
|
_________ |
|
|
|
_________ |
Shareholders funds |
|
|
|
|
3,073,765 |
|
|
|
3,067,278 |
|
|
|
|
|
_________ |
|
|
|
_________ |
|
|
|
|
|
|
|
|
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|
For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 28 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the
board of directors
and authorised for issue on
03 September 2024
, and are signed on behalf of the board by:
Mr E Toner
Director
Company registration number:
NI026632
Hemel Limited
Notes to the financial statements
Year ended 28 February 2024
1.
General information
The company is a private company limited by shares, registered in N Ireland. The address of the registered office is Site 12, Forge Lane, Moy, Co Tyrone, BT71 7SB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Goodwill |
- |
10 % |
straight line |
Licence |
- |
5 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Freehold property |
- |
2 % |
straight line |
|
Plant and machinery |
- |
20 % |
reducing balance |
|
Fittings fixtures and equipment |
- |
20 % |
reducing balance |
|
Motor vehicles |
- |
20 % |
reducing balance |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
83
(2023:
78
).
5.
Intangible assets
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
At 1 March 2023 and 28 February 2024 |
366,192 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
At 1 March 2023 |
311,175 |
|
|
|
|
|
Charge for the year |
8,502 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
At 28 February 2024 |
319,677 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
At 28 February 2024 |
46,515 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
At 28 February 2023 |
55,017 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
|
6.
Tangible assets
|
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 March 2023 |
4,450,887 |
|
|
|
|
|
|
Additions |
261,112 |
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
At 28 February 2024 |
4,711,999 |
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
At 1 March 2023 |
1,570,924 |
|
|
|
|
|
|
Charge for the year |
151,684 |
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
At 28 February 2024 |
1,722,608 |
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 28 February 2024 |
2,989,391 |
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
At 28 February 2023 |
2,879,963
|
|
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
|
|
|
7.
Investments
|
|
|
|
|
|
|
|
|
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
At 1 March 2023 and 28 February 2024 |
491,145 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
Impairment |
|
|
|
|
|
|
At 1 March 2023 and 28 February 2024 |
- |
|
|
|
|
|
|
_________ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
At 28 February 2024 |
491,145 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
At 28 February 2023 |
491,145 |
|
|
|
|
|
|
_________ |
|
|
|
|
|
|
|
|
|
|
|
8.
Parent company
The directors regard New Vision Management Ltd, which is registered in Northern Ireland to be the company's ultimate parent company. New Vision Management Ltd has a 100% interest in the ordinary share capital of
Hemel Limited
at 28 February 2024.