BrightAccountsProduction v1.0.0 v1.0.0 2022-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is running a shop in the Glenullin community. 30 October 2024 12 12 NI634555 2023-10-31 NI634555 2022-10-31 NI634555 2021-10-31 NI634555 2022-11-01 2023-10-31 NI634555 2021-11-01 2022-10-31 NI634555 uk-bus:CompanyLimitedByGuarantee 2022-11-01 2023-10-31 NI634555 uk-curr:PoundSterling 2022-11-01 2023-10-31 NI634555 uk-bus:FullAccounts 2022-11-01 2023-10-31 NI634555 uk-bus:Director1 2022-11-01 2023-10-31 NI634555 uk-bus:Director2 2022-11-01 2023-10-31 NI634555 uk-bus:Director3 2022-11-01 2023-10-31 NI634555 uk-bus:Director4 2022-11-01 2023-10-31 NI634555 uk-bus:Director5 2022-11-01 2023-10-31 NI634555 uk-bus:RegisteredOffice 2022-11-01 2023-10-31 NI634555 uk-bus:Agent1 2022-11-01 2023-10-31 NI634555 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI634555 uk-core:RetainedEarningsAccumulatedLosses 2022-10-31 NI634555 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI634555 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-10-31 NI634555 uk-bus:FRS102 2022-11-01 2023-10-31 NI634555 uk-core:PlantMachinery 2022-11-01 2023-10-31 NI634555 uk-core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 NI634555 uk-core:CurrentFinancialInstruments 2023-10-31 NI634555 uk-core:CurrentFinancialInstruments 2022-10-31 NI634555 uk-core:WithinOneYear 2023-10-31 NI634555 uk-core:WithinOneYear 2022-10-31 NI634555 uk-core:WithinOneYear 2023-10-31 NI634555 uk-core:WithinOneYear 2022-10-31 NI634555 uk-core:AfterOneYear 2023-10-31 NI634555 uk-core:AfterOneYear 2022-10-31 NI634555 uk-core:BetweenOneTwoYears 2023-10-31 NI634555 uk-core:BetweenOneTwoYears 2022-10-31 NI634555 uk-core:BetweenTwoFiveYears 2023-10-31 NI634555 uk-core:BetweenTwoFiveYears 2022-10-31 NI634555 2022-11-01 2023-10-31 NI634555 uk-bus:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI634555
 
 
Eagle Glen Stores Limited
(A company limited by guarantee, not having a share capital)
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 October 2023
Eagle Glen Stores Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS AND OTHER INFORMATION

 
Directors Gerard Joseph O'Kane
Gerard Patrick Mullan
Dan Mullan
Gerard Seamus Heaney
Diarmuid James Henry
 
 
Company Registration Number NI634555
 
 
Registered Office and Business Address 9 Curraghmore Road
Garvagh
Co. Derry
BT51 5DB
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
 
Bankers Danske Bank
  Donegall Square West
  Belfast
  Co Antrim
  BT1 6JS
  Belfast



Eagle Glen Stores Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS' REPORT
for the financial year ended 31 October 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 October 2023.
 
The Company is limited by guarantee not having a share capital.
     
Directors
The directors who served during the financial year are as follows:
     
Gerard Joseph O'Kane
Gerard Patrick Mullan
Dan Mullan
Gerard Seamus Heaney
Diarmuid James Henry
   
There were no changes in shareholdings between 31 October 2023 and the date of signing the financial statements.
     
In accordance with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Dan Mullan
Director
     
30 October 2024



Eagle Glen Stores Limited
(A company limited by guarantee, not having a share capital)
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 October 2023
2023 2022
Notes £ £

Turnover 675,917 575,021
 
Cost of sales (552,474) (447,869)
───────── ─────────
Gross profit 123,443 127,152
 
Administrative expenses (120,975) (117,754)
───────── ─────────
Operating profit 2,468 9,398
 
Interest payable and similar expenses (2,490) (3,484)
───────── ─────────
(Loss)/profit before taxation (22) 5,914
 
Tax on (loss)/profit - 3,518
───────── ─────────
(Loss)/profit for the financial year (22) 9,432
───────── ─────────
Total comprehensive income (22) 9,432
    ═════════   ═════════



Eagle Glen Stores Limited
(A company limited by guarantee, not having a share capital)
Company Registration Number: NI634555
BALANCE SHEET
as at 31 October 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 57,176 71,470
───────── ─────────
 
Current Assets
Stocks 5 52,021 49,544
Debtors 6 10,939 6,673
Cash and cash equivalents 24,292 6,825
───────── ─────────
87,252 63,042
───────── ─────────
Creditors: amounts falling due within one year 7 (64,062) (84,517)
───────── ─────────
Net Current Assets/(Liabilities) 23,190 (21,475)
───────── ─────────
Total Assets less Current Liabilities 80,366 49,995
 
Creditors:
amounts falling due after more than one year 8 (36,059) (5,666)
───────── ─────────
Net Assets 44,307 44,329
═════════ ═════════
 
Reserves
Retained surplus 44,307 44,329
───────── ─────────
Equity attributable to owners of the company 44,307 44,329
═════════ ═════════
 
The financial statements have been prepared 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).
           
For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 30 October 2024 and signed on its behalf by
           
           
________________________________          
Dan Mullan          
Director          
           



Eagle Glen Stores Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2023

   
1. General Information
 
Eagle Glen Stores Limited is a company limited by guarantee incorporated and registered in Northern Ireland. The registered number of the company is NI634555. The registered office of the company is 9 Curraghmore Road, Garvagh, Co. Derry, BT51 5DB which is also the principal place of business of the company. The principal activity of the company is running a shop in the Glenullin community. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing Balance
  Fixtures, fittings and equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a a NEST pension scheme in line with Government Regulations.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 12, (2022 - 12).
 
  2023 2022
  Number Number
 
Employee 12 12
  ═════════ ═════════
         
4. Tangible assets
  Plant and Fixtures, Total
  machinery fittings and  
    equipment  
  £ £ £
Cost
At 1 November 2022 60,062 52,837 112,899
  ───────── ───────── ─────────
 
At 31 October 2023 60,062 52,837 112,899
  ───────── ───────── ─────────
Depreciation
At 1 November 2022 21,146 20,283 41,429
Charge for the financial year 7,783 6,511 14,294
  ───────── ───────── ─────────
At 31 October 2023 28,929 26,794 55,723
  ───────── ───────── ─────────
Net book value
At 31 October 2023 31,133 26,043 57,176
  ═════════ ═════════ ═════════
At 31 October 2022 38,916 32,554 71,470
  ═════════ ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 52,021 49,544
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Trade debtors 6,421 2,155
Other debtors 1,000 1,000
Taxation  (Note 9) 3,518 3,518
  ───────── ─────────
  10,939 6,673
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 5,119 5,119
User definable loan desc. 6,183 22,596
Trade creditors 43,021 52,462
Taxation  (Note 9) 5,193 2,630
Other creditors 1,592 -
Accruals:
Pension accrual 54 310
Other accruals 2,900 1,400
  ───────── ─────────
  64,062 84,517
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 1,663 5,666
User definable loan desc. 34,396 -
  ───────── ─────────
  36,059 5,666
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 11,302 27,715
Repayable between one and two years 7,847 5,118
Repayable between two and five years 28,212 548
  ───────── ─────────
  47,361 33,381
  ═════════ ═════════
 
       
9. Taxation 2023 2022
  £ £
 
Debtors:
Corporation tax 3,518 3,518
  ═════════ ═════════
Creditors:
VAT 4,551 2,007
PAYE / NI 642 623
  ───────── ─────────
  5,193 2,630
  ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 October 2023.
   
11. Contingent liabilities
 
Eagle Glen Stores previously entered into an onerous arrangement with the Rhino Media Group. The arrangement could potentially cost the company ?299.87 per month over a 36 month period. The arrangemnt is currently being contested. No provision has currently been made in the accounts with respect to this arrangement.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.