BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is the sale of vehicles, mainly trucks for the haulage sector. 19 September 2024 NI640987 2023-12-31 NI640987 2023-01-31 NI640987 2022-01-31 NI640987 2023-02-01 2023-12-31 NI640987 2022-02-01 2023-01-31 NI640987 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2023-12-31 NI640987 uk-curr:PoundSterling 2023-02-01 2023-12-31 NI640987 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2023-12-31 NI640987 uk-bus:FullAccounts 2023-02-01 2023-12-31 NI640987 uk-bus:Director1 2023-02-01 2023-12-31 NI640987 uk-bus:Director2 2023-02-01 2023-12-31 NI640987 uk-bus:RegisteredOffice 2023-02-01 2023-12-31 NI640987 uk-bus:Agent1 2023-02-01 2023-12-31 NI640987 uk-core:ShareCapital 2023-12-31 NI640987 uk-core:ShareCapital 2023-01-31 NI640987 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI640987 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI640987 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI640987 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI640987 uk-bus:FRS102 2023-02-01 2023-12-31 NI640987 uk-core:LandBuildings 2023-02-01 2023-12-31 NI640987 uk-core:PlantMachinery 2023-02-01 2023-12-31 NI640987 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2023-12-31 NI640987 uk-bus:Audited 2023-02-01 2023-12-31 NI640987 uk-core:CurrentFinancialInstruments 2023-12-31 NI640987 uk-core:CurrentFinancialInstruments 2023-01-31 NI640987 uk-core:CurrentFinancialInstruments 2023-12-31 NI640987 uk-core:CurrentFinancialInstruments 2023-01-31 NI640987 uk-core:WithinOneYear 2023-12-31 NI640987 uk-core:WithinOneYear 2023-01-31 NI640987 uk-core:WithinOneYear 2023-12-31 NI640987 uk-core:WithinOneYear 2023-01-31 NI640987 uk-core:EmployeeBenefits 2023-01-31 NI640987 uk-core:EmployeeBenefits 2023-02-01 2023-12-31 NI640987 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI640987 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI640987 uk-core:OtherDeferredTax 2023-12-31 NI640987 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI640987 uk-core:EmployeeBenefits 2023-12-31 NI640987 uk-core:ParentEntities 2023-02-01 2023-12-31 NI640987 2023-02-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI640987
 
 
Hannon Fleet Sales Ltd
 
Financial Statements
 
for the financial period ended 31 December 2023
Hannon Fleet Sales Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Aodh Hannon
Teresa Hannon
 
 
Company Registration Number NI640987
 
 
Registered Office 21 Brankinstown Road
Aghalee
Lurgan
Co. Armagh
BT67 0DF
Northern Ireland
 
 
Business Address 21 Brankinstown Road
Aghalee
Lurgan
Co. Armagh
BT67 0DF
Northern Ireland
 
 
Independent Auditors MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers HSBC
  52-56 Meadow Lane
  Portadown
  Co. Armagh
  BT62 3NJ
  United Kingdom
 
   
Solicitors Tughans
  Marlborough House
  30 Victoria Street
  Belfast
  Co. Antrim
  BT1 3GG
  United Kingdom



Hannon Fleet Sales Ltd
Company Registration Number: NI640987
BALANCE SHEET
as at 31 December 2023

Dec 23 Jan 23
Notes £ £
 
Fixed Assets
Tangible assets 6 71,796 44,327
───────── ─────────
 
Current Assets
Stocks 7 1,878,255 1,356,849
Debtors 8 992,260 964,176
Cash and cash equivalents 275,832 197,076
───────── ─────────
3,146,347 2,518,101
───────── ─────────
Creditors: amounts falling due within one year 9 (2,399,178) (2,084,871)
───────── ─────────
Net Current Assets 747,169 433,230
───────── ─────────
Total Assets less Current Liabilities 818,965 477,557
 
Provisions for liabilities 12 (7,105) -
───────── ─────────
Net Assets 811,860 477,557
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 811,859 477,556
───────── ─────────
Equity attributable to owners of the company 811,860 477,557
═════════ ═════════
 
The financial statements 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
Approved by the Board and authorised for issue on 19 September 2024 and signed on its behalf by
           
           
________________________________          
Aodh Hannon          
Director          
           



Hannon Fleet Sales Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial period ended 31 December 2023

   
1. General Information
 
Hannon Fleet Sales Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 21 Brankinstown Road, Aghalee, Lurgan, Co. Armagh, BT67 0DF, Northern Ireland. The principal activity of the company is the sale of vehicles, mainly trucks for the haulage sector. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of vehicles sales and vehicle hire, exclusive of trade discounts and value added tax. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- The Company has transferred the significant risks and rewards of ownership to the buyer;
- The amount of revenue can be measured reliably;
- It is probable that the Company will receive the consideration due under the transaction;
- The costs incurred or to be incurred in respect of the transaction can be measured reliably.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 11 month period ended 31 December 2023.
   
4. INFORMATION RELATING TO THE AUDITOR'S REPORT
 
The Audit Report was unqualified. There were no matters to which the auditor was required to refer by way of emphasis.
 
The financial statements were audited by MG accountants.
The Auditor's Report was signed by Martin Grimley (Senior Statutory Auditor) for and on behalf of MG accountants on 19th September 2024.
 
       
5. Employees
 
The average monthly number of employees, including directors, during the financial period was 4, (Jan 23 - 4).
 
  Dec 23 Jan 23
  Number Number
 
Directors 2 2
Employees 2 2
  ───────── ─────────
  4 4
  ═════════ ═════════
           
6. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 February 2023 9,380 31,977 26,106 67,463
Additions - 42,000 - 42,000
  ───────── ───────── ───────── ─────────
At 31 December 2023 9,380 73,977 26,106 109,463
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 764 4,351 18,021 23,136
Charge for the financial period 308 12,760 1,463 14,531
  ───────── ───────── ───────── ─────────
At 31 December 2023 1,072 17,111 19,484 37,667
  ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 8,308 56,866 6,622 71,796
  ═════════ ═════════ ═════════ ═════════
At 31 January 2023 8,616 27,626 8,085 44,327
  ═════════ ═════════ ═════════ ═════════
       
7. Stocks Dec 23 Jan 23
  £ £
 
Vehicles for resale 1,878,255 1,356,849
  ═════════ ═════════
       
8. Debtors Dec 23 Jan 23
  £ £
 
Trade debtors 366,629 304,705
Amounts owed by group undertakings 530,106 514,313
Amounts owed by related parties 8,066 -
Other debtors 2,000 7,000
Taxation  (Note 10) 84,894 129,363
Prepayments and accrued income 565 8,795
  ───────── ─────────
  992,260 964,176
  ═════════ ═════════
       
9. Creditors Dec 23 Jan 23
Amounts falling due within one year £ £
 
Bank overdrafts 423,191 699,843
Trade creditors 23,725 16,622
Amounts owed to group undertakings 1,938,581 1,356,479
Taxation  (Note 10) 4,006 4,006
Other creditors 1,913 2,036
Accruals 7,762 5,885
  ───────── ─────────
  2,399,178 2,084,871
  ═════════ ═════════
       
10. Taxation Dec 23 Jan 23
  £ £
 
Debtors:
VAT 84,894 129,363
  ═════════ ═════════
Creditors:
Corporation tax 1,382 1,382
PAYE / NI 2,624 2,624
  ───────── ─────────
  4,006 4,006
  ═════════ ═════════
       
11. Details of creditors
 
Security given in respect of creditors
HSBC UK hold a debenture including a fixed charge over all present property or undertaking of the company to include a first floating charge over all assets and undertaking both present and future dated 17 May 2017.

Unlimited cross company guarantee dated 22 May 2017 given by Hannon Transport Limited.
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    Dec 23 Jan 23
  £ £ £
 
At financial period start - - -
Charged to profit and loss 7,105 7,105 -
  ───────── ───────── ─────────
At financial period end 7,105 7,105 -
  ═════════ ═════════ ═════════
   
13. Parent company
 
At 31 December 2023 the companys ultimate parent undertaking is Hannon Holdings Ltd.