2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 101,855 101,855 101,855 xbrli:pure xbrli:shares iso4217:GBP NI003399 2023-01-01 2023-12-31 NI003399 2023-12-31 NI003399 2022-12-31 NI003399 2022-01-01 2022-12-31 NI003399 2022-12-31 NI003399 2021-12-31 NI003399 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 NI003399 bus:Director1 2023-01-01 2023-12-31 NI003399 core:WithinOneYear 2023-12-31 NI003399 core:WithinOneYear 2022-12-31 NI003399 core:ShareCapital 2023-12-31 NI003399 core:ShareCapital 2022-12-31 NI003399 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI003399 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI003399 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 NI003399 core:Non-currentFinancialInstruments 2023-12-31 NI003399 core:Non-currentFinancialInstruments 2022-12-31 NI003399 bus:Director1 2022-12-31 NI003399 bus:Director1 2023-12-31 NI003399 bus:Director1 2021-12-31 NI003399 bus:Director1 2022-12-31 NI003399 bus:Director1 2022-01-01 2022-12-31 NI003399 bus:SmallEntities 2023-01-01 2023-12-31 NI003399 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI003399 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI003399 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI003399 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: NI003399
NORTHFERRY IMPORTERS LIMITED
Filleted Unaudited Financial Statements
31 December 2023
NORTHFERRY IMPORTERS LIMITED
Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of NORTHFERRY IMPORTERS LIMITED
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NORTHFERRY IMPORTERS LIMITED for the year ended 31 December 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of NORTHFERRY IMPORTERS LIMITED, as a body, in accordance with the terms of our engagement letter dated 20 June 2014. Our work has been undertaken solely to prepare for your approval the financial statements of NORTHFERRY IMPORTERS LIMITED and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NORTHFERRY IMPORTERS LIMITED and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that NORTHFERRY IMPORTERS LIMITED 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 profit of NORTHFERRY IMPORTERS LIMITED. You consider that NORTHFERRY IMPORTERS LIMITED is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of NORTHFERRY IMPORTERS LIMITED. 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.
JOSEPH MURRAY LIMITED Chartered accountants
30b MARKET SQUARE DROMORE CO. DOWN BT25 1AW
21 June 2024
NORTHFERRY IMPORTERS LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
5
101,855
101,855
Current assets
Stocks
500
1,500
Debtors
6
59
3
Cash at bank and in hand
13,726
11,083
--------
--------
14,285
12,586
Creditors: amounts falling due within one year
7
19,093
17,508
--------
--------
Net current liabilities
4,808
4,922
---------
---------
Total assets less current liabilities
97,047
96,933
--------
--------
Net assets
97,047
96,933
--------
--------
Capital and reserves
Called up share capital
300
300
Profit and loss account
96,747
96,633
--------
--------
Shareholders funds
97,047
96,933
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NORTHFERRY IMPORTERS LIMITED
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 21 June 2024 , and are signed on behalf of the board by:
Mr Holland
Director
Company registration number: NI003399
NORTHFERRY IMPORTERS LIMITED
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Upper Cairncastle Road, LARNE, BT40 2DT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
101,855
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
101,855
---------
At 31 December 2022
101,855
---------
6. Debtors
2023
2022
£
£
Other debtors
59
3
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,619
3,620
Corporation tax
942
Social security and other taxes
5,744
5,318
Other creditors
9,788
8,570
--------
--------
19,093
17,508
--------
--------
8. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Holland
( 820)
( 24,555)
24,637
( 738)
----
--------
--------
----
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr Holland
( 15,737)
( 87,197)
102,114
( 820)
--------
--------
---------
----
9. Related party transactions
No transactions with related parties, other than that described above, were undertaken such as are required to be disclosed under the provisions of FRS 102.