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Registration number: NI648683

Comfort Needs Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Comfort Needs Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Comfort Needs Limited

Company Information

Director

Mr Jonathan Lutton

Registered office

57 Dunminning Road
Cullybackey
Ballymena
Co Antrim
BT42 1PE

Accountants

James Anthony McClements
Accountant
25B Ballymena Business Centre
Galgorm
Ballymena
Co Antrim
BT42 1FL

 

Comfort Needs Limited

(Registration number: NI648683)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,900

8,250

Current assets

 

Debtors

5

31,974

62,324

Cash at bank and in hand

 

697,379

1,728,564

 

729,353

1,790,888

Creditors: Amounts falling due within one year

6

(67,210)

(59,693)

Net current assets

 

662,143

1,731,195

Total assets less current liabilities

 

666,043

1,739,445

Creditors: Amounts falling due after more than one year

6

(87,600)

(7,600)

Provisions for liabilities

(1,682)

(1,682)

Net assets

 

576,761

1,730,163

Capital and reserves

 

Retained earnings

576,761

1,730,163

Shareholders' funds

 

576,761

1,730,163

For the financial year ending 31 October 2023 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.

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.

Approved and authorised by the director on 17 October 2024
 

.........................................
Mr Jonathan Lutton
Director

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
57 Dunminning Road
Cullybackey
Ballymena
Co Antrim
BT42 1PE
Northern Ireland

These financial statements were authorised for issue by the director on 17 October 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.

Tax

The tax expense for the period comprises 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.

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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

Fixtures and Fittings

20% Straight Line

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

4,691

14,700

19,391

At 31 October 2023

4,691

14,700

19,391

Depreciation

At 1 November 2022

3,041

8,100

11,141

Charge for the year

1,650

2,700

4,350

At 31 October 2023

4,691

10,800

15,491

Carrying amount

At 31 October 2023

-

3,900

3,900

At 31 October 2022

1,650

6,600

8,250

5

Debtors

Current

2023
£

2022
£

Trade debtors

15,156

14,048

Prepayments

451

-

Other debtors

16,367

48,276

 

31,974

62,324

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

19,897

472

Accruals and deferred income

2,500

2,500

Other creditors

44,813

56,721

67,210

59,693

Creditors: amounts falling due after more than one year

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2023
£

2022
£

Due after one year

Other non-current financial liabilities

87,600

7,600

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

300

300

300

300

       

8

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of £600.00 per each Ordinary Shares

60,000

60,000

 

 

9

Related party transactions

 

Comfort Needs Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

20,764

20,778