Company Registration No. NI687282 (Northern Ireland)
HML Downey Accountants Limited
Annual report and unaudited accounts
for the year ended 30 April 2024
HML Downey Accountants Limited
Annual report and unaudited accounts
Contents
HML Downey Accountants Limited
Company Information
for the year ended 30 April 2024
Company Number
NI687282 (Northern Ireland)
Registered Office
34 WOODLAND AVENUE
LISBURN
BT27 4PJ
NORTHERN IRELAND
Accountants
H Downey and Company
Incorporated Financial Accountants
65 Eglantine Avenue
Belfast
Antrim
BT9 6EW
HML Downey Accountants Limited
(Company no: NI687282 Northern Ireland)
Director's Report
The director presents her report and accounts for the year ended 30 April 2024.
Lucia Downey held office during the whole of the period.
Statement of directors' responsibilities
The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations.
Company law requires the directors to prepare accounts for each financial year. Under that law, the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
Signed on behalf of the board of directors
............................................................................
Lucia Downey
Director
Approved by the board on: 25 September 2024
Accountants' report on the preparation of the unaudited statutory statements of HML Downey Accountants Limited (The Company) for the year ended 30 April 2024
In order to assist you as the sole director to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 30 April 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to you as the sole director of the company, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to you, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and you as the sole director for our work or for this report.
It is your duty to ensure that the company 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 financial performance of the company. You consider that the company is exempt from the statutory audit requirement for the year ended 30 April 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. 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.
H Downey and Company
Financial Accountants
Incorporated Financial Accountants
65 Eglantine Avenue
Belfast
Antrim
BT9 6EW
29 September 2024
HML Downey Accountants Limited
Income statement
for the year ended 30 April 2024
Gross profit
36,266
65,696
Administrative expenses
(31,549)
(40,667)
Operating profit
4,717
25,029
Loss on revaluation of intangible assets
(30)
-
Interest payable and similar charges
-
(254)
Profit on ordinary activities before taxation
4,687
24,775
Tax on profit on ordinary activities
(1,216)
(2,646)
Profit for the financial year
3,471
22,129
HML Downey Accountants Limited
Statement of financial position
as at 30 April 2024
Intangible assets
12,300
12,300
Tangible assets
7,815
8,850
Cash at bank and in hand
15,390
3,911
Creditors: amounts falling due within one year
(15,998)
(4,947)
Net current liabilities
(608)
(1,036)
Total assets less current liabilities
19,507
20,114
Creditors: amounts falling due after more than one year
(2,498)
(3,577)
Called up share capital
100
100
Profit and loss account
16,909
16,438
Shareholders' funds
17,009
16,538
For the year ending 30 April 2024 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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
The financial statements were approved by the Board and authorised for issue on 25 September 2024 and were signed on its behalf by
Lucia Downey
Director
Company Registration No. NI687282
HML Downey Accountants Limited
Notes to the Accounts
for the year ended 30 April 2024
HML Downey Accountants Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI687282. The registered office is 34 WOODLAND AVENUE, LISBURN, BT27 4PJ, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill
HML Downey Accountants Limited
Notes to the Accounts
for the year ended 30 April 2024
5
Tangible fixed assets
Fixtures & fittings
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
1,216
2,646
Loans from directors
14,782
2,269
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
HML Downey Accountants Limited
Detailed Profit and Loss Account
for the year ended 30 April 2024
This schedule does not form part of the statutory accounts.
Other direct costs
410
323
Gross profit
36,266
65,696
Wages and salaries
1,984
1,842
Directors' salaries
11,950
12,900
Stationery and printing
166
413
Repairs and maintenance
1,175
319
Consultancy fees
6,000
12,250
Advertising and PR
1,084
22
Other legal and professional
390
1,004
Operating profit
4,717
25,029
Loss from revaluation of intangible assets
(30)
-
Bank loans and overdrafts
-
254
Profit on ordinary activities before taxation
4,687
24,775