IRIS Accounts Production v24.2.0.383 NI656768 Board of Directors 1.1.23 31.12.23 31.12.23 25.9.24 false true false false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI6567682022-12-31NI6567682023-12-31NI6567682023-01-012023-12-31NI6567682021-12-31NI6567682022-01-012022-12-31NI6567682022-12-31NI656768ns15:NorthernIreland2023-01-012023-12-31NI656768ns14:PoundSterling2023-01-012023-12-31NI656768ns10:Director12023-01-012023-12-31NI656768ns10:PrivateLimitedCompanyLtd2023-01-012023-12-31NI656768ns10:SmallEntities2023-01-012023-12-31NI656768ns10:Audited2023-01-012023-12-31NI656768ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-31NI656768ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-31NI656768ns10:FullAccounts2023-01-012023-12-31NI65676812023-01-012023-12-31NI656768ns10:Director22023-01-012023-12-31NI656768ns10:CompanySecretary12023-01-012023-12-31NI656768ns10:RegisteredOffice2023-01-012023-12-31NI656768ns5:CurrentFinancialInstruments2023-12-31NI656768ns5:CurrentFinancialInstruments2022-12-31NI656768ns5:ShareCapital2023-12-31NI656768ns5:ShareCapital2022-12-31NI656768ns5:SharePremium2023-12-31NI656768ns5:SharePremium2022-12-31NI656768ns5:RetainedEarningsAccumulatedLosses2023-12-31NI656768ns5:RetainedEarningsAccumulatedLosses2022-12-31NI656768ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31NI656768ns5:ComputerSoftware2023-01-012023-12-31NI656768ns5:OwnedOrFreeholdAssetsns5:LandBuildings2023-01-012023-12-31NI656768ns5:PlantMachinery2023-01-012023-12-31NI656768ns5:FurnitureFittings2023-01-012023-12-31NI656768ns5:MotorVehicles2023-01-012023-12-31NI656768ns5:ComputerSoftware2022-12-31NI656768ns5:ComputerSoftware2023-12-31NI656768ns5:ComputerSoftware2022-12-31NI656768ns5:LandBuildings2022-12-31NI656768ns5:LeaseholdImprovements2022-12-31NI656768ns5:PlantMachinery2022-12-31NI656768ns5:LandBuildings2023-01-012023-12-31NI656768ns5:LeaseholdImprovements2023-01-012023-12-31NI656768ns5:LandBuildings2023-12-31NI656768ns5:LeaseholdImprovements2023-12-31NI656768ns5:PlantMachinery2023-12-31NI656768ns5:LandBuildings2022-12-31NI656768ns5:LeaseholdImprovements2022-12-31NI656768ns5:PlantMachinery2022-12-31NI656768ns5:FurnitureFittings2022-12-31NI656768ns5:MotorVehicles2022-12-31NI656768ns5:FurnitureFittings2023-12-31NI656768ns5:MotorVehicles2023-12-31NI656768ns5:FurnitureFittings2022-12-31NI656768ns5:MotorVehicles2022-12-31NI656768ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-31NI656768ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: NI656768 (Northern Ireland)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

UK (IRELAND) EQUIPMENT LIMITED

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 7


UK (IRELAND) EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Jarvis
J Jarvis





SECRETARY: Dentons Secretaries Limited





REGISTERED OFFICE: 16 Ballycraigy Road
Antrim
Co. Antrim
BT41 1PL





REGISTERED NUMBER: NI656768 (Northern Ireland)





AUDITORS: Baker Tilly Mooney Moore
Statutory Auditors
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

BALANCE SHEET
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 23,878 30,741
Tangible assets 6 1,429,539 1,117,084
1,453,417 1,147,825

CURRENT ASSETS
Stocks 1,416,938 681,070
Debtors 7 665,609 685,677
Cash at bank and in hand 843,126 883,710
2,925,673 2,250,457
CREDITORS
Amounts falling due within one year 8 1,590,224 1,179,196
NET CURRENT ASSETS 1,335,449 1,071,261
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,788,866

2,219,086

PROVISIONS FOR LIABILITIES 212,387 133,172
NET ASSETS 2,576,479 2,085,914

CAPITAL AND RESERVES
Called up share capital 1 1
Share premium 245,755 245,755
Retained earnings 2,330,723 1,840,158
2,576,479 2,085,914

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2024 and were signed on its behalf by:





P Jarvis - Director


UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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


1. STATUTORY INFORMATION

UK (Ireland) Equipment 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 in:

The consideration of the recoverability of trade debtors and the need for impairment provisions. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The need for impairment provisions against items held in work in progress. These considerations are undertaken regularly by the directors, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as irrecoverable will be provided against in the relevant period.

The directors also consider the depreciation rates and useful lives on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost
Fixtures, fittings & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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


3. ACCOUNTING POLICIES - continued

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

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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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


5. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 January 2023
and 31 December 2023 57,741
AMORTISATION
At 1 January 2023 27,000
Amortisation for year 6,863
At 31 December 2023 33,863
NET BOOK VALUE
At 31 December 2023 23,878
At 31 December 2022 30,741

6. TANGIBLE FIXED ASSETS
Assets
Freehold Under Plant and
property Construction machinery
£    £    £   
COST
At 1 January 2023 606,702 6,884 451,546
Additions - 23,183 350,639
At 31 December 2023 606,702 30,067 802,185
DEPRECIATION
At 1 January 2023 14,502 - 30,322
Charge for year 9,668 - 30,094
At 31 December 2023 24,170 - 60,416
NET BOOK VALUE
At 31 December 2023 582,532 30,067 741,769
At 31 December 2022 592,200 6,884 421,224

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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


6. TANGIBLE FIXED ASSETS - continued

Fixtures,
fittings Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 21,771 133,107 1,220,010
Additions - - 373,822
At 31 December 2023 21,771 133,107 1,593,832
DEPRECIATION
At 1 January 2023 11,006 47,096 102,926
Charge for year 2,403 19,202 61,367
At 31 December 2023 13,409 66,298 164,293
NET BOOK VALUE
At 31 December 2023 8,362 66,809 1,429,539
At 31 December 2022 10,765 86,011 1,117,084

Tangible fixed asset's held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 622,897 593,728
Other debtors 42,712 91,949
665,609 685,677

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 1,205,870 668,561
Taxation and social security 188,051 329,145
Other creditors 196,303 181,490
1,590,224 1,179,196

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Joanne Small (Senior Statutory Auditor)
for and on behalf of Baker Tilly Mooney Moore

UK (IRELAND) EQUIPMENT LIMITED (REGISTERED NUMBER: NI656768)

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


10. ULTIMATE CONTROLLING PARTY

The company's immediate parent is Jarvis Products UK Ltd. The ultimate parent company and controlling party is Penco Corporation, a company incorporated in the USA, registered at 299 Buckingham St, Hartford, CT 06106.