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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
Page
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HML Downey Accountants Limited Company Information for the year ended 30 April 2024
Director
Lucia Downey
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
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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.
Directors
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.
Small company provisions
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
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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
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HML Downey Accountants Limited Income statement for the year ended 30 April 2024
2024 
2023 
£ 
£ 
Turnover
36,676 
66,019 
Cost of sales
(410)
(323)
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 
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HML Downey Accountants Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
12,300 
12,300 
Tangible assets
7,815 
8,850 
20,115 
21,150 
Current assets
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)
Net assets
17,009 
16,537 
Capital and reserves
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
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HML Downey Accountants Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 May 2023
12,300 
At 30 April 2024
12,300 
Amortisation
At 1 May 2023
- 
At 30 April 2024
- 
Net book value
At 30 April 2024
12,300 
At 30 April 2023
12,300 
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HML Downey Accountants Limited Notes to the Accounts for the year ended 30 April 2024
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 May 2023
11,800 
Additions
679 
At 30 April 2024
12,479 
Depreciation
At 1 May 2023
2,950 
Charge for the year
1,714 
At 30 April 2024
4,664 
Net book value
At 30 April 2024
7,815 
At 30 April 2023
8,850 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
1,216 
2,646 
Other creditors
- 
32 
Loans from directors
14,782 
2,269 
15,998 
4,947 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
2,498 
3,577 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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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.
2024 
2023 
£ 
£ 
Turnover
Fees
36,676 
66,019 
Cost of sales
Other direct costs
410 
323 
Gross profit
36,266 
65,696 
Administrative expenses
Wages and salaries
1,984 
1,842 
Directors' salaries
11,950 
12,900 
Pensions
308 
284 
Motor expenses
985 
2,440 
Rates
1,016 
1,059 
Use of home
1,270 
1,220 
Telephone and fax
88 
96 
Postage
90 
129 
Stationery and printing
166 
413 
Subscriptions
725 
198 
Bank charges
160 
215 
Insurance
510 
811 
Software
1,845 
2,453 
Repairs and maintenance
1,175 
319 
Depreciation
1,714 
2,950 
Sundry expenses
89 
62 
Consultancy fees
6,000 
12,250 
Advertising and PR
1,084 
22 
Other legal and professional
390 
1,004 
31,549 
40,667 
Operating profit
4,717 
25,029 
Exceptional items
Loss from revaluation of intangible assets
(30)
- 
Interest payable
Bank loans and overdrafts
- 
254 
Profit on ordinary activities before taxation
4,687 
24,775 
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