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REGISTERED NUMBER: NI065271 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

C & N ROONEY LIMITED

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


C & N ROONEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: C Rooney
Mrs N Rooney



SECRETARY: Mrs N Rooney



REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



REGISTERED NUMBER: NI065271 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: Danske Bank
62 - 66 Bow Street
Lisburn
BT28 1YS

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 74,581 92,860
74,581 92,860

CURRENT ASSETS
Stocks 31,220 29,234
Debtors 6 16,365 37,339
Cash at bank and in hand 64,276 66,653
111,861 133,226
CREDITORS
Amounts falling due within one year 7 66,174 62,069
NET CURRENT ASSETS 45,687 71,157
TOTAL ASSETS LESS CURRENT
LIABILITIES

120,268

164,017

CREDITORS
Amounts falling due after more than one
year

8

(65,987

)

(76,642

)

PROVISIONS FOR LIABILITIES (14,170 ) (21,822 )
NET ASSETS 40,111 65,553

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 40,011 65,453
SHAREHOLDERS' FUNDS 40,111 65,553

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

BALANCE SHEET - continued
31 AUGUST 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were authorised for issue the Board of Directors and authorised for issue on 3 December 2024 and were signed on its behalf by:





C Rooney - Director


C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

C & N Rooney Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Carrying value of goodwill:

The carrying value of goodwill is assessed annually by the directors with any indicators of impairment considered. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the assets and the business in general.

The directors also consider the amortisation rates and useful lives on an annual basis to ensure there is sufficient evidence to support these and that the estimates remain reasonable.

Consider the age and condition of stock and the need for any impairment provisions. These considerations are undertaken by directors at regular intervals, especially at the year end date. Factors taken into consideration include the period of ownership of the stock, market demand and historical experience. Stock identified as impaired will be provided against in the relevant period.

Useful economic lives of tangible assets:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Negative goodwill is amortised over the remaining useful life of the non-monetary assets acquired.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.

- Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

- Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 268,993
AMORTISATION
At 1 September 2023
and 31 August 2024 268,993
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 September 2023 167,957 58,190 9,655 235,802
Additions 6,629 - 529 7,158
Disposals - - (6,186 ) (6,186 )
At 31 August 2024 174,586 58,190 3,998 236,774
DEPRECIATION
At 1 September 2023 118,930 15,474 8,538 142,942
Charge for year 13,849 10,679 600 25,128
Eliminated on disposal - - (5,877 ) (5,877 )
At 31 August 2024 132,779 26,153 3,261 162,193
NET BOOK VALUE
At 31 August 2024 41,807 32,037 737 74,581
At 31 August 2023 49,027 42,716 1,117 92,860

C & N ROONEY LIMITED (REGISTERED NUMBER: NI065271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 6,704 9,413
Directors' current accounts 3,764 19,618
VAT 1,548 4,303
Prepayments and accrued income 4,349 4,005
16,365 37,339

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 6,288 6,288
Hire purchase contracts 3,738 3,509
Trade creditors 17,886 17,552
Tax 36,332 29,987
Social security and other taxes (3,986 ) (63 )
Accrued expenses 5,916 4,796
66,174 62,069

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans - 1-2 years 6,288 6,288
Bank loans - 2-5 years 18,864 18,864
Bank loans more 5 yr by instal 3,813 10,730
Hire purchase contracts 37,022 40,760
65,987 76,642

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,813 10,730