IRIS Accounts Production v24.2.0.383 NI673388 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6733882022-12-31NI6733882023-12-31NI6733882023-01-012023-12-31NI6733882021-12-31NI6733882022-01-012022-12-31NI6733882022-12-31NI673388ns15:NorthernIreland2023-01-012023-12-31NI673388ns14:PoundSterling2023-01-012023-12-31NI673388ns10:Director12023-01-012023-12-31NI673388ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31NI673388ns10:SmallEntities2023-01-012023-12-31NI673388ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-31NI673388ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31NI673388ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31NI673388ns10:FullAccounts2023-01-012023-12-31NI673388ns10:Director22023-01-012023-12-31NI673388ns10:RegisteredOffice2023-01-012023-12-31NI673388ns5:CurrentFinancialInstruments2023-12-31NI673388ns5:CurrentFinancialInstruments2022-12-31NI673388ns5:Non-currentFinancialInstruments2023-12-31NI673388ns5:Non-currentFinancialInstruments2022-12-31NI673388ns5:ShareCapital2023-12-31NI673388ns5:ShareCapital2022-12-31NI673388ns5:RetainedEarningsAccumulatedLosses2023-12-31NI673388ns5:RetainedEarningsAccumulatedLosses2022-12-31NI673388ns5:LandBuildings2022-12-31NI673388ns5:PlantMachinery2022-12-31NI673388ns5:LandBuildings2023-01-012023-12-31NI673388ns5:PlantMachinery2023-01-012023-12-31NI673388ns5:LandBuildings2023-12-31NI673388ns5:PlantMachinery2023-12-31NI673388ns5:LandBuildings2022-12-31NI673388ns5:PlantMachinery2022-12-31NI673388ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31NI673388ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31NI673388ns5:Secured2023-12-31NI673388ns5:Secured2022-12-31
REGISTERED NUMBER: NI673388 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

L&M RETAIL ANNAHILT LIMITED

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


L&M RETAIL ANNAHILT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: M Boyd
Ms L Kearney





REGISTERED OFFICE: 23 Linnhurst Park
Drumaness
Ballynahinch
BT24 8RR





REGISTERED NUMBER: NI673388 (Northern Ireland)





ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 491,345 38,656

CURRENT ASSETS
Stocks 48,656 41,452
Debtors 5 5,368 30,791
Cash at bank and in hand 49,311 57,078
103,335 129,321
CREDITORS
Amounts falling due within one year 6 142,590 115,907
NET CURRENT (LIABILITIES)/ASSETS (39,255 ) 13,414
TOTAL ASSETS LESS CURRENT
LIABILITIES

452,090

52,070

CREDITORS
Amounts falling due after more than one
year

7

(377,056

)

(11,113

)

PROVISIONS FOR LIABILITIES (9,664 ) (9,664 )
NET ASSETS 65,370 31,293

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 65,270 31,193
65,370 31,293

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

BALANCE SHEET - continued
31 DECEMBER 2023


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 19 September 2024 and were signed on its behalf by:





M Boyd - Director


L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

L&M Retail Annahilt Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:
Establish whether there are indicators of impairment of goodwill and the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

Consider the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The directors also consider the amortisation and depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

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.

Fixtures and Fittings - 25% reducing balance

Motor Vehicles - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 - 55,656 55,656
Additions 430,920 38,289 469,209
At 31 December 2023 430,920 93,945 524,865
DEPRECIATION
At 1 January 2023 - 17,000 17,000
Charge for year 3,855 12,665 16,520
At 31 December 2023 3,855 29,665 33,520
NET BOOK VALUE
At 31 December 2023 427,065 64,280 491,345
At 31 December 2022 - 38,656 38,656

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 5,368 30,791

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 30,553 4,587
Hire purchase contracts 7,285 -
Trade creditors 22,409 37,796
Taxation and social security 27,617 13,570
Other creditors 54,726 59,954
142,590 115,907

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 228,099 11,113
Hire purchase contracts 15,915 -
Other creditors 133,042 -
377,056 11,113

L&M RETAIL ANNAHILT LIMITED (REGISTERED NUMBER: NI673388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 258,652 15,700

Ulsterbank loan is secured by way of a fixed and floating charge over all the property and undertakings of the company.