Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 NI057232 Mr George Brian Wilson Mr John Wilson Mrs Helen Wilson iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI057232 2022-12-31 NI057232 2023-12-31 NI057232 2023-01-01 2023-12-31 NI057232 frs-core:CurrentFinancialInstruments 2023-12-31 NI057232 frs-core:FurnitureFittings 2023-12-31 NI057232 frs-core:FurnitureFittings 2023-01-01 2023-12-31 NI057232 frs-core:FurnitureFittings 2022-12-31 NI057232 frs-core:NetGoodwill 2023-12-31 NI057232 frs-core:NetGoodwill 2023-01-01 2023-12-31 NI057232 frs-core:NetGoodwill 2022-12-31 NI057232 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-12-31 NI057232 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI057232 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2022-12-31 NI057232 frs-core:MotorVehicles 2023-12-31 NI057232 frs-core:MotorVehicles 2023-01-01 2023-12-31 NI057232 frs-core:MotorVehicles 2022-12-31 NI057232 frs-core:ShareCapital 2023-12-31 NI057232 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI057232 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI057232 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 NI057232 frs-bus:SmallEntities 2023-01-01 2023-12-31 NI057232 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI057232 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI057232 frs-bus:Director1 2023-01-01 2023-12-31 NI057232 frs-bus:Director2 2023-01-01 2023-12-31 NI057232 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 NI057232 frs-countries:NorthernIreland 2023-01-01 2023-12-31 NI057232 2021-12-31 NI057232 2022-12-31 NI057232 2022-01-01 2022-12-31 NI057232 frs-core:CurrentFinancialInstruments 2022-12-31 NI057232 frs-core:ShareCapital 2022-12-31 NI057232 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: NI057232
H.E. Wilson First Ireland Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
42a-44a New Row
Coleraine
BT52 1AF
Contents
Page
Accountant's Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of H.E. Wilson First Ireland Limited For The Year Ended 31 December 2023
In accordance with the engagement letter dated 08 September 2022, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet as at year ended 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
17/09/2024
EM Accountants
Chartered Accountants
42a-44a New Row
Coleraine
BT52 1AF
Page 1
Page 2
Balance Sheet
Registered number: NI057232
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 54,167 79,167
Tangible Assets 5 320,475 331,873
Investment Properties 6 491,917 491,917
866,559 902,957
CURRENT ASSETS
Stocks 7 143,684 123,402
Debtors 8 11,879 24,460
Cash at bank and in hand 192,410 196,032
347,973 343,894
Creditors: Amounts Falling Due Within One Year 9 (747,476 ) (748,626 )
NET CURRENT ASSETS (LIABILITIES) (399,503 ) (404,732 )
TOTAL ASSETS LESS CURRENT LIABILITIES 467,056 498,225
PROVISIONS FOR LIABILITIES
Deferred Taxation (38,369 ) (39,238 )
NET ASSETS 428,687 458,987
CAPITAL AND RESERVES
Called up share capital 11 100 100
Profit and Loss Account 428,587 458,887
SHAREHOLDERS' FUNDS 428,687 458,987
Page 2
Page 3
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr John Wilson
Director
17/09/2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
H.E. Wilson First Ireland Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI057232 . The registered office is 8 Corrstown Park, Portrush, Co Antrim, BT55 8SN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 50 year Straight Line
Motor Vehicles 25% Reducing balance
Fixtures & Fittings 10% Reducing balance
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
Page 4
Page 5
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2023 2022
Office and administration 1 1
Sales, marketing and distribution 8 8
9 9
Page 5
Page 6
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 500,000
As at 31 December 2023 500,000
Amortisation
As at 1 January 2023 420,833
Provided during the period 25,000
As at 31 December 2023 445,833
Net Book Value
As at 31 December 2023 54,167
As at 1 January 2023 79,167
5. Tangible Assets
Land & Property
Freehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 341,211 28,937 34,622 404,770
Additions - - 1,363 1,363
As at 31 December 2023 341,211 28,937 35,985 406,133
Depreciation
As at 1 January 2023 44,844 13,169 14,884 72,897
Provided during the period 6,824 3,942 1,995 12,761
As at 31 December 2023 51,668 17,111 16,879 85,658
Net Book Value
As at 31 December 2023 289,543 11,826 19,106 320,475
As at 1 January 2023 296,367 15,768 19,738 331,873
6. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 491,917
Page 6
Page 7
7. Stocks
2023 2022
£ £
Stocks 143,684 123,402
8. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 1,839 -
Other debtors 10,040 19,198
Corporation tax recoverable assets - 5,262
11,879 24,460
9. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 53,130 45,826
Corporation tax 1,226 -
Other taxes and social security 4,235 8,554
VAT 24,119 31,537
Accruals and deferred income 2,500 2,110
Directors' loan accounts 662,266 660,599
747,476 748,626
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
Page 7