BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 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 the building of housing developments. 12 November 2024 NI024376 2024-04-30 NI024376 2023-04-30 NI024376 2022-04-30 NI024376 2023-05-01 2024-04-30 NI024376 2022-05-01 2023-04-30 NI024376 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI024376 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI024376 uk-bus:AbridgedAccounts 2023-05-01 2024-04-30 NI024376 uk-core:ShareCapital 2024-04-30 NI024376 uk-core:ShareCapital 2023-04-30 NI024376 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI024376 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI024376 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI024376 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI024376 uk-bus:FRS102 2023-05-01 2024-04-30 NI024376 uk-core:PlantMachinery 2023-05-01 2024-04-30 NI024376 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI024376 uk-core:MotorVehicles 2023-05-01 2024-04-30 NI024376 uk-core:CostValuation 2024-04-30 NI024376 uk-core:Subsidiary1 2023-05-01 2024-04-30 NI024376 2023-05-01 2024-04-30 NI024376 uk-bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 NI024376 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Colm Meehan & Co. Ltd.
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 April 2024



Colm Meehan & Co. Ltd.
Company Registration Number: NI024376
ABRIDGED BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 334,846 380,128
Investments 5 85 85
───────── ─────────
Fixed Assets 334,931 380,213
───────── ─────────
 
Current Assets
Stocks 13,355,430 13,612,840
Debtors 410,323 79,264
Cash and cash equivalents 166,494 307,451
───────── ─────────
13,932,247 13,999,555
───────── ─────────
Creditors: amounts falling due within one year (3,488,461) (4,492,305)
───────── ─────────
Net Current Assets 10,443,786 9,507,250
───────── ─────────
Total Assets less Current Liabilities 10,778,717 9,887,463
 
Provisions for liabilities (83,712) (95,032)
───────── ─────────
Net Assets 10,695,005 9,792,431
═════════ ═════════
 
Capital and Reserves
Called up share capital 20,000 20,000
Retained earnings 10,675,005 9,772,431
───────── ─────────
Equity attributable to owners of the company 10,695,005 9,792,431
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 April 2024 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 12 November 2024 and signed on its behalf by
           
           
________________________________          
Colm Meehan          
Director          
           



Colm Meehan & Co. Ltd.
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Colm Meehan & Co. Ltd. is a private company limited by shares incorporated in Northern Ireland. 99 Armagh Road, Newry, Co. Down, BT35 6PW, Northern Ireland is the registered office, which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements are for the individual entity Colm Meehan & Co. Ltd. for the year ended 30 April 2024.

The company registration number is NI024376.
         
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 year ended 30 April 2024 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.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods & services supplied by the company, exclusive of trade discounts and value added tax.
 
Government Grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
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 - 12.5% Straight Line
  Fixtures, fittings and equipment - 12.5% Straight Line
  Motor vehicles - 20% Straight Line
 
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.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.  Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are also recognised in profit or loss.
 
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.
 
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.
 
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.
 
Pensions
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Administration 1 1
Building 8 8
  ───────── ─────────
  9 9
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 May 2023 780,160 791 79,776 860,727
Additions 36,000 - - 36,000
Disposals (18,500) - - (18,500)
  ───────── ───────── ───────── ─────────
At 30 April 2024 797,660 791 79,776 878,227
  ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2023 447,913 393 32,293 480,599
Charge for the financial year 62,318 56 13,755 76,129
On disposals (13,347) - - (13,347)
  ───────── ───────── ───────── ─────────
At 30 April 2024 496,884 449 46,048 543,381
  ───────── ───────── ───────── ─────────
Net book value
At 30 April 2024 300,776 342 33,728 334,846
  ═════════ ═════════ ═════════ ═════════
At 30 April 2023 332,247 398 47,483 380,128
  ═════════ ═════════ ═════════ ═════════
     
5. Investments
  Group and
  participating
  interests/
  joint ventures
Investments £
Cost
 
At 30 April 2024 85
  ─────────
Net book value
At 30 April 2024 85
  ═════════
At 30 April 2023 85
  ═════════
             
5.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Omeath Park Hotel Limited The Park Hotel
Omeath
Louth
Ireland
Dormant   Ordinary 100%
 
 
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
 
  Year ended Capital and     Profit for
    reserves     the year
    £     £
 
Omeath Park Hotel Limited 30 April 2024 85     -
    ═════════     ═════════
 
In the opinion of the directors, the value to the company of the unlisted investments is not less than the book amount shown above.
       
6. Pension commitments
 
The company operates a defined contributon pension scheme for the benefit of the employees. At the year end date 30 April 2024 the company had pension commitments totalling £704 (2023: £993). These are included in the creditors: amounts falling due within one year.
       
7. Guarantees
 
Colm Meehan & Co. Ltd. has given a cross company guarantee.