IRIS Accounts Production v24.2.0.383 NI040031 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 15.10.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0400312023-07-31NI0400312024-07-31NI0400312023-08-012024-07-31NI0400312022-07-31NI0400312022-08-012023-07-31NI0400312023-07-31NI040031ns15:NorthernIreland2023-08-012024-07-31NI040031ns14:PoundSterling2023-08-012024-07-31NI040031ns10:Director12023-08-012024-07-31NI040031ns10:Director22023-08-012024-07-31NI040031ns10:CompanyLimitedByGuarantee2023-08-012024-07-31NI040031ns10:SmallEntities2023-08-012024-07-31NI040031ns10:Audited2023-08-012024-07-31NI040031ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-31NI040031ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-31NI040031ns10:FullAccounts2023-08-012024-07-31NI040031ns10:Director32023-08-012024-07-31NI040031ns10:Director42023-08-012024-07-31NI040031ns10:Director52023-08-012024-07-31NI040031ns10:Director62023-08-012024-07-31NI040031ns10:Director72023-08-012024-07-31NI040031ns10:Director82023-08-012024-07-31NI040031ns10:Director92023-08-012024-07-31NI040031ns10:Director102023-08-012024-07-31NI040031ns10:Director112023-08-012024-07-31NI040031ns10:Director122023-08-012024-07-31NI040031ns10:Director132023-08-012024-07-31NI040031ns10:Director142023-08-012024-07-31NI040031ns10:Director152023-08-012024-07-31NI040031ns10:Director162023-08-012024-07-31NI040031ns10:CompanySecretary12023-08-012024-07-31NI040031ns10:RegisteredOffice2023-08-012024-07-31NI040031ns5:CurrentFinancialInstruments2024-07-31NI040031ns5:CurrentFinancialInstruments2023-07-31NI040031ns5:RetainedEarningsAccumulatedLosses2024-07-31NI040031ns5:RetainedEarningsAccumulatedLosses2023-07-31NI040031ns5:LeaseholdImprovements2023-08-012024-07-31NI040031ns5:FurnitureFittings2023-08-012024-07-31NI040031ns5:LeaseholdImprovements2023-07-31NI040031ns5:FurnitureFittings2023-07-31NI040031ns5:LeaseholdImprovements2024-07-31NI040031ns5:FurnitureFittings2024-07-31NI040031ns5:LeaseholdImprovements2023-07-31NI040031ns5:FurnitureFittings2023-07-31NI040031ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-31NI040031ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: NI040031 (Northern Ireland)















Financial Statements for the Year Ended 31 July 2024

for

Northern Ireland Independent
Retail Trade Association

Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1 to 2

Statement of Financial Position 3

Notes to the Financial Statements 4 to 7


Northern Ireland Independent
Retail Trade Association

Company Information
for the Year Ended 31 July 2024







DIRECTORS: P J Doody
P A McBride
N R McRobbie
A J Porter
G Roberts
P G McCool
D T Barber
P Murney
A R Davis
J G Crawford
Mrs H Wall
M G Little
N Maxwell
C O'Reilly
A M McErlean
K S Patterson





SECRETARY: G Roberts





REGISTERED OFFICE: 245 Upper Newtownards Road
Belfast
Co. Antrim
BT4 3JF





REGISTERED NUMBER: NI040031 (Northern Ireland)






Northern Ireland Independent
Retail Trade Association

Company Information
for the Year Ended 31 July 2024







AUDITORS: Lynn Drake & Co Ltd
Statutory Auditors
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE

Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)

Statement of Financial Position
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 2,797 4,220

CURRENT ASSETS
Debtors 6 61,949 40,543
Cash at bank and in hand 221,355 215,070
283,304 255,613
CREDITORS
Amounts falling due within one year 7 10,818 7,853
NET CURRENT ASSETS 272,486 247,760
TOTAL ASSETS LESS CURRENT
LIABILITIES

275,283

251,980

RESERVES
Income and expenditure account 275,283 251,980
275,283 251,980

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:




P J Doody - Director



N Maxwell - Director


Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Northern Ireland Independent Retail Trade Association is a private company, limited by guarantee , 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on cost

Tangible Fixed Assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Financial instruments
Debtors and creditors receivable/payable within one year
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 ar recognised in the profit and loss account in other administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 August 2023
and 31 July 2024 3,444 22,590 26,034
DEPRECIATION
At 1 August 2023 3,444 18,370 21,814
Charge for year - 1,423 1,423
At 31 July 2024 3,444 19,793 23,237
NET BOOK VALUE
At 31 July 2024 - 2,797 2,797
At 31 July 2023 - 4,220 4,220

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 59,731 39,822
Other debtors 1,397 -
Prepayments 821 721
61,949 40,543

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 3,062 273
Tax 754 319
Social security and other taxes 2,501 2,463
Other creditors 1,081 1,793
Accrued expenses 3,420 3,005
10,818 7,853

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Billy Drake (Senior Statutory Auditor)
for and on behalf of Lynn Drake & Co Ltd

Northern Ireland Independent
Retail Trade Association (Registered number: NI040031)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

9. LIMITED BY GUARANTEE

The company has no share capital and is limited by guarantee.

10. RESERVE POLICY

The director's have designated £150,000 of the company reserves towards general projects to assist and protect the company position.