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REGISTERED NUMBER: NI046062 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

CARDS GALORE BELFAST LIMITED

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


CARDS GALORE BELFAST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: G A Crawford
A Crawford
G M Crawford



SECRETARY: A Crawford



REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



REGISTERED NUMBER: NI046062 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Ulster Bank
Unit G Westwood Shopping Centre
Kennedy Way
Belfast
BT11 9BQ



SOLICITORS: SDM Solicitors Limited
38-42 Hill Street
Belfast
BT1 2LB

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 286,664 276,005
286,664 276,005

CURRENT ASSETS
Stocks 217,249 240,655
Debtors 6 227,568 190,161
Cash at bank and in hand 299,646 297,135
744,463 727,951
CREDITORS
Amounts falling due within one year 7 385,040 323,774
NET CURRENT ASSETS 359,423 404,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

646,087

680,182

CREDITORS
Amounts falling due after more than one
year

8

(17,459

)

(3,094

)

PROVISIONS FOR LIABILITIES (8,097 ) (2,604 )
NET ASSETS 620,531 674,484

CAPITAL AND RESERVES
Called up share capital 900 900
Retained earnings 619,631 673,584
SHAREHOLDERS' FUNDS 620,531 674,484

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





G M Crawford - Director


CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Cards Galore Belfast 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 (£).


The address of the company's place of business is Unit 9, D C Enterprise Centre, Kennedy Way, Belfast BT11 9AP.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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:

Determine whether there are indicators of impairment of the company's intangible and tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets and the business in general.

Estimates are made in respect of the recoverable value of trade debtors and stock. When assessing the level of provisions required, factors considered include current experience of debtor book, historical rates of non-recoverability, the ageing profile of debtors, the age and condition of stock..

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

The directors reassessed the useful life of goodwill on transition to FRS 102 and are satisfied that the current policy accurately reflects the useful life of the goodwill.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Improvements to property - 2% on cost
Fixtures, fittings & equipment - 33% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

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.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and is available to carry forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 300,000
AMORTISATION
At 1 April 2023
and 31 March 2024 300,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 April 2023 329,095 1,850 2,500
Additions - - -
Disposals - - -
At 31 March 2024 329,095 1,850 2,500
DEPRECIATION
At 1 April 2023 85,238 182 819
Charge for year 6,582 37 420
Eliminated on disposal - - -
At 31 March 2024 91,820 219 1,239
NET BOOK VALUE
At 31 March 2024 237,275 1,631 1,261
At 31 March 2023 243,857 1,668 1,681

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS - continued

Fixtures,
fittings Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 2,357 133,491 2,056 471,349
Additions - 36,435 - 36,435
Disposals (2,357 ) (28,036 ) - (30,393 )
At 31 March 2024 - 141,890 2,056 477,391
DEPRECIATION
At 1 April 2023 1,658 106,273 1,174 195,344
Charge for year 105 14,321 291 21,756
Eliminated on disposal (1,763 ) (24,610 ) - (26,373 )
At 31 March 2024 - 95,984 1,465 190,727
NET BOOK VALUE
At 31 March 2024 - 45,906 591 286,664
At 31 March 2023 699 27,218 882 276,005

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 22,250
Additions 36,435
At 31 March 2024 58,685
DEPRECIATION
At 1 April 2023 20,690
Charge for year 10,196
Transfer to ownership (9,156 )
At 31 March 2024 21,730
NET BOOK VALUE
At 31 March 2024 36,955
At 31 March 2023 1,560

CARDS GALORE BELFAST LIMITED (REGISTERED NUMBER: NI046062)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 200,086 159,710
Directors' current accounts 15,000 15,000
Prepayments and accrued income 12,482 15,451
227,568 190,161

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 30,114 -
Hire purchase contracts 15,056 5,899
Trade creditors 194,318 160,741
Taxation and social security 122,280 130,390
Other creditors 23,272 26,744
385,040 323,774

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Hire purchase contracts 17,459 3,094

9. CONTINGENT LIABILITIES

A contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.