Candy Enterprises (Ballymena) Ltd NI602453 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is retail of general convenience goods Digita Accounts Production Advanced 6.30.9574.0 true true NI602453 2023-05-01 2024-04-30 NI602453 2024-04-30 NI602453 bus:OrdinaryShareClass1 2024-04-30 NI602453 core:CurrentFinancialInstruments 2024-04-30 NI602453 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 NI602453 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 NI602453 core:OtherResidualIntangibleAssets 2024-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2024-04-30 NI602453 core:LandBuildings 2024-04-30 NI602453 bus:SmallEntities 2023-05-01 2024-04-30 NI602453 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI602453 bus:FilletedAccounts 2023-05-01 2024-04-30 NI602453 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI602453 bus:RegisteredOffice 2023-05-01 2024-04-30 NI602453 bus:Director2 2023-05-01 2024-04-30 NI602453 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 NI602453 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI602453 core:LandBuildings 2023-05-01 2024-04-30 NI602453 countries:NorthernIreland 2023-05-01 2024-04-30 NI602453 2023-04-30 NI602453 core:OtherResidualIntangibleAssets 2023-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2023-04-30 NI602453 core:LandBuildings 2023-04-30 NI602453 2022-05-01 2023-04-30 NI602453 2023-04-30 NI602453 bus:OrdinaryShareClass1 2023-04-30 NI602453 core:CurrentFinancialInstruments 2023-04-30 NI602453 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 NI602453 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 NI602453 core:OtherResidualIntangibleAssets 2023-04-30 NI602453 core:FurnitureFittingsToolsEquipment 2023-04-30 NI602453 core:LandBuildings 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI602453

Candy Enterprises (Ballymena) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Candy Enterprises (Ballymena) Ltd

(Registration number: NI602453)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

110,850

110,850

Tangible assets

5

101,237

93,415

 

212,087

204,265

Current assets

 

Stocks

6

82,073

79,621

Debtors

7

5,545

6,365

Cash at bank and in hand

 

288,040

238,280

 

375,658

324,266

Creditors: Amounts falling due within one year

8

(158,147)

(154,267)

Net current assets

 

217,511

169,999

Total assets less current liabilities

 

429,598

374,264

Creditors: Amounts falling due after more than one year

8

(27,000)

-

Provisions for liabilities

(13,049)

(10,662)

Net assets

 

389,549

363,602

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

388,549

362,602

Shareholders' funds

 

389,549

363,602

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Candy Enterprises (Ballymena) Ltd

(Registration number: NI602453)
Balance Sheet as at 30 April 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Candy Enterprises (Ballymena) Ltd

(Registration number: NI602453)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 11 July 2024
 

.........................................
Mr Thomas James McMaster
Director

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 7 Old Galgorm Manor, Old Galgorm Road, Ballymena, Co. Antrim, BT42 1RY.

These financial statements were authorised for issue by the director on 11 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment, fixtures and fittings

20% straight line basis

Improvements

2.5% straight line basis

Intangible assets

Intangible assets comprise costs incurred by the Company to acquire a liquor licence. Amortisation is not provided on the licence as its value to the company is non-depreciating.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 23 (2023 - 19).

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Off Sales Licence
 £

Total
£

Cost or valuation

At 1 May 2023

110,850

110,850

At 30 April 2024

110,850

110,850

Amortisation

Carrying amount

At 30 April 2024

110,850

110,850

At 30 April 2023

110,850

110,850

Amortisation is not provided on the intangible fixed asset held by the Company. The liquor licence is of continued value to the Company and holds a readily attainable market value in excess of its cost.

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Improvements
£

Equipment, fixtures and fittings
 £

Total
£

Cost or valuation

At 1 May 2023

74,684

176,356

251,040

Additions

-

34,906

34,906

At 30 April 2024

74,684

211,262

285,946

Depreciation

At 1 May 2023

8,665

148,960

157,625

Charge for the year

1,648

25,436

27,084

At 30 April 2024

10,313

174,396

184,709

Carrying amount

At 30 April 2024

64,371

36,866

101,237

At 30 April 2023

66,019

27,396

93,415

6

Stocks

2024
£

2023
£

Stock of goods for resale

82,073

79,621

7

Debtors

Current

2024
£

2023
£

Prepayments

956

717

Other debtors

4,589

5,648

 

5,545

6,365

 

Candy Enterprises (Ballymena) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

66,353

57,289

Directors' loan account

26,961

22,538

Taxation and social security

 

28,634

24,785

Accruals

 

6,755

6,114

Other creditors

 

29,444

43,541

 

158,147

154,267

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Directors' loan account

27,000

-

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       

10

Related party transactions

The following amounts were due to the directors at the year end:-

2024
 £

2023
 £

Directors' loan account

53,961

22,538