Company Registration No. NI694263 (Northern Ireland)
THE NORN IRISH GIFT SHOP LTD
Unaudited accounts
for the period from 6 February 2023 to 29 February 2024
THE NORN IRISH GIFT SHOP LTD
Unaudited accounts
Contents
THE NORN IRISH GIFT SHOP LTD
Company Information
for the period from 6 February 2023 to 29 February 2024
Directors
Fiona Lane
Keith Lane
Company Number
NI694263 (Northern Ireland)
Registered Office
6 CLONETRACE LANE
BROUGHSHANE
BALLYMENA
BT43 7HX
NORTHERN IRELAND
Accountants
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
THE NORN IRISH GIFT SHOP LTD
Accountants' report
Accountants' report to the board of directors of THE NORN IRISH GIFT SHOP LTD on the preparation of the unaudited statutory accounts for the period from 6 February 2023 to 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
THE NORN IRISH GIFT SHOP LTD for the period from
6 February 2023 to
29 February 2024 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of THE NORN IRISH GIFT SHOP LTD, as a body, in accordance with the terms of our engagement letter dated 6 February 2023. Our work has been undertaken solely to prepare for your approval the accounts of THE NORN IRISH GIFT SHOP LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than THE NORN IRISH GIFT SHOP LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that THE NORN IRISH GIFT SHOP LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of THE NORN IRISH GIFT SHOP LTD. You consider that THE NORN IRISH GIFT SHOP LTD is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of THE NORN IRISH GIFT SHOP LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd
34 Knockmoyle Drive
Greystone Road
Antrim
BT41 1HE
24 October 2024
THE NORN IRISH GIFT SHOP LTD
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
11,230
Creditors: amounts falling due within one year
(21,121)
Net current liabilities
(1,359)
Profit and loss account
(1,359)
Shareholders' funds
(1,359)
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by
Fiona Lane
Director
Company Registration No. NI694263
THE NORN IRISH GIFT SHOP LTD
Notes to the Accounts
for the period from 6 February 2023 to 29 February 2024
THE NORN IRISH GIFT SHOP LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI694263. The registered office is 6 CLONETRACE LANE, BROUGHSHANE, BALLYMENA, BT43 7HX, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
THE NORN IRISH GIFT SHOP LTD
Notes to the Accounts
for the period from 6 February 2023 to 29 February 2024
4
Creditors: amounts falling due within one year
2024
Loans from directors
21,121
5
Average number of employees
During the period the average number of employees was 3.