BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The company's principal activity during the year continued to be risk and damage evaluation. 2 October 2024 0 0 NI611487 2024-03-31 NI611487 2023-03-31 NI611487 2022-03-31 NI611487 2023-04-01 2024-03-31 NI611487 2022-04-01 2023-03-31 NI611487 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI611487 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI611487 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI611487 uk-core:ShareCapital 2024-03-31 NI611487 uk-core:ShareCapital 2023-03-31 NI611487 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI611487 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI611487 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI611487 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI611487 uk-bus:FRS102 2023-04-01 2024-03-31 NI611487 uk-core:Buildings 2023-04-01 2024-03-31 NI611487 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI611487 uk-core:MotorVehicles 2023-04-01 2024-03-31 NI611487 2023-04-01 2024-03-31 NI611487 uk-bus:Director1 2023-04-01 2024-03-31 NI611487 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI611487
 
 
Hourican Associates Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Hourican Associates Ltd
Company Registration Number: NI611487
ABRIDGED BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 204,034 217,999
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Current Assets
Debtors 26,033 61,969
Cash and cash equivalents 281,403 212,806
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307,436 274,775
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Creditors: amounts falling due within one year (56,279) (35,595)
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Net Current Assets 251,157 239,180
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Total Assets less Current Liabilities 455,191 457,179
 
Creditors:
amounts falling due after more than one year (23,024) (35,036)
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Net Assets 432,167 422,143
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Capital and Reserves
Called up share capital 1 1
Retained earnings 432,166 422,142
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Shareholders' Funds 432,167 422,143
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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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 2 October 2024
           
           
________________________________          
Mr. Richard Hourican          
Director          
           



Hourican Associates Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Hourican Associates Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 5 Conthem Road, Strabane, Co. Tyrone, BT82 8NY, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. 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 March 2024 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 goods supplied by the company, exclusive of trade discounts and value added tax.
 
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, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - 10% Straight line
  Plant and machinery - 20% Straight line
  Motor vehicles - 20% Straight line
 
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.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
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.
 
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.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year 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. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2023 - 1).
             
4. Tangible assets
  Investment Short Plant and Motor Total
  properties leasehold machinery vehicles  
    property      
  £ £ £ £ £
Cost
At 1 April 2023 120,234 17,946 41,939 82,550 262,669
Additions - - 9,813 - 9,813
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 120,234 17,946 51,752 82,550 272,482
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2023 - 9,271 32,647 2,752 44,670
Charge for the financial year - 1,795 5,473 16,510 23,778
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 - 11,066 38,120 19,262 68,448
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 March 2024 120,234 6,880 13,632 63,288 204,034
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 March 2023 120,234 8,675 9,292 79,798 217,999
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.