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REGISTERED NUMBER: NI066688 (Northern Ireland)














Unaudited Financial Statements

for the Year Ended 31 January 2024

for

JOE HANNA'S LIMITED

JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


JOE HANNA'S LIMITED

Company Information
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr B Hanna
Mr M Hanna



SECRETARY: Mr B Hanna



REGISTERED OFFICE: 5-7 The Square
Ballynahinch
Co. Down
BT24 8AE



REGISTERED NUMBER: NI066688 (Northern Ireland)



ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS



BANKERS: Danske Bank
Donegall Square West
Belfast
BT1 6JS

JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Abridged Balance Sheet
31 JANUARY 2024

31/1/24 31/1/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,000 81,250
Tangible assets 5 44,020 39,931
109,020 121,181

CURRENT ASSETS
Stocks 36,275 35,288
Debtors 1,258 1,170
Cash at bank and in hand 341,028 367,965
378,561 404,423
CREDITORS
Amounts falling due within one year 344,760 355,793
NET CURRENT ASSETS 33,801 48,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

142,821

169,811

PROVISIONS FOR LIABILITIES 8,298 7,506
NET ASSETS 134,523 162,305

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 134,323 162,105
SHAREHOLDERS' FUNDS 134,523 162,305

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Abridged Balance Sheet - continued
31 JANUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 16 October 2024 and were signed on its behalf by:




Mr B Hanna - Director



Mr M Hanna - Director


JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Joe Hanna's 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 (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Amortisation
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Goodwill - 5% Straight Line

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Equipment - 10% 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.

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.


JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Financial instruments
Financial Instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An entity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023
and 31 January 2024 325,000
AMORTISATION
At 1 February 2023 243,750
Amortisation for year 16,250
At 31 January 2024 260,000
NET BOOK VALUE

At 31 January 2024 65,000
At 31 January 2023 81,250

JOE HANNA'S LIMITED (REGISTERED NUMBER: NI066688)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 February 2023 129,282
Additions 9,124
At 31 January 2024 138,406
DEPRECIATION
At 1 February 2023 89,351
Charge for year 5,035
At 31 January 2024 94,386
NET BOOK VALUE
At 31 January 2024 44,020
At 31 January 2023 39,931