2023-01-012023-12-312023-12-31falseNI047291JJ COYLE 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JJ COYLE LIMITED

Registered Number
NI047291
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 December 2023

JJ COYLE LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Martin Coyle
Noreen Coyle

Company Secretary

Noreen Coyle

Registered Address

416 Ballyquin Road
Dungiven
Londonderry
BT47 4NQ

Registered Number

NI047291 (Northern Ireland)
JJ COYLE LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets5-20,000
Tangible assets6801,337830,414
801,337850,414
Current assets
Stocks459,806514,206
Debtors314,397295,671
Cash at bank and on hand313,685175,144
1,087,888985,021
Creditors amounts falling due within one year(460,054)(507,825)
Net current assets (liabilities)627,834477,196
Total assets less current liabilities1,429,1711,327,610
Creditors amounts falling due after one year(13,993)(51,998)
Provisions for liabilities(14,957)(15,793)
Net assets1,400,2211,259,819
Capital and reserves
Called up share capital22
Profit and loss account1,400,2191,259,817
Shareholders' funds1,400,2211,259,819
The financial statements were approved and authorised for issue by the Board of Directors on 25 September 2024, and are signed on its behalf by:
Martin Coyle
Director
Registered Company No. NI047291
JJ COYLE LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 20% reducing balance Fixtures and fittings - 15% reducing balance Motor Vehicles - 20% reducing balance Freehold property - 2% straight line
Intangible assets policy
Goodwill Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years. 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 - 5% straight line If there is an indication that there has been a significant change in amortisation rate, useful life or residual value
Stocks policy
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year99
5.Intangible assets

Total

£
Cost or valuation
At 01 January 23400,000
At 31 December 23400,000
Amortisation and impairment
At 01 January 23380,000
Charge for year20,000
At 31 December 23400,000
Net book value
At 31 December 23-
At 31 December 2220,000
6.Property, plant and equipment

Total

£
Cost or valuation
At 01 January 231,569,982
Additions11,914
At 31 December 231,581,896
Depreciation and impairment
At 01 January 23739,568
Charge for year40,991
At 31 December 23780,560
Net book value
At 31 December 23801,337
At 31 December 22830,414