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Registration number: NI664863

Accident First Choice Management NI Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Accident First Choice Management NI Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Accident First Choice Management NI Ltd

Company Information

Directors

Mr Glenn Burrows

Mr Maurice O'Kane

Registered office

51 Terrenew Road
Dungannon
Co Tyrone
BT70 3AB

Accountants

Anne Douglas Ltd
2 Killyman Street
Moy
Co Tyrone
BT71 7SJ

 

Accident First Choice Management NI Ltd

(Registration number: NI664863)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

64

1,472

Current assets

 

Debtors

5

261,812

228,365

Cash at bank and in hand

 

114,075

43,091

 

375,887

271,456

Creditors: Amounts falling due within one year

6

(206,728)

(161,822)

Net current assets

 

169,159

109,634

Total assets less current liabilities

 

169,223

111,106

Creditors: Amounts falling due after more than one year

6

(70,000)

(70,000)

Net assets

 

99,223

41,106

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

99,123

41,006

Shareholders' funds

 

99,223

41,106

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.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Accident First Choice Management NI Ltd

(Registration number: NI664863)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 31 October 2024 and signed on its behalf by:
 

.........................................
Mr Glenn Burrows
Director

 

Accident First Choice Management NI Ltd

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:
51 Terrenew Road
Dungannon
Co Tyrone
BT70 3AB
Northern Ireland

These financial statements were authorised for issue by the Board on 31 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.

 

Accident First Choice Management NI Ltd

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

Tax

The tax expense for the period comprises current 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.

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

Motor vehicles

20% Reducing Balance

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.

 

Accident First Choice Management NI Ltd

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

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

Accident First Choice Management NI Ltd

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

114

2,500

2,614

Disposals

-

(2,500)

(2,500)

At 31 October 2023

114

-

114

Depreciation

At 1 November 2022

29

1,113

1,142

Charge for the year

21

-

21

Eliminated on disposal

-

(1,113)

(1,113)

At 31 October 2023

50

-

50

Carrying amount

At 31 October 2023

64

-

64

At 31 October 2022

85

1,387

1,472

5

Debtors

Current

2023
£

2022
£

Trade debtors

171,800

201,592

Prepayments

-

1,497

Other debtors

90,012

25,276

 

261,812

228,365

 

Accident First Choice Management NI Ltd

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

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,313

19,338

Taxation and social security

15,642

11,851

Accruals and deferred income

127,451

59,793

Other creditors

62,322

70,840

206,728

161,822

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

70,000

70,000

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary share class 1 of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

70,000

70,000

 

Accident First Choice Management NI Ltd

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

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

38,769

24,961