BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 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 to carry on the business of retailing meat, grocery, confectionery products and alcohol. 21 October 2024 23 22 NI683124 2024-01-31 NI683124 2023-01-31 NI683124 2022-01-31 NI683124 2023-02-01 2024-01-31 NI683124 2022-02-01 2023-01-31 NI683124 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI683124 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI683124 uk-bus:AbridgedAccounts 2023-02-01 2024-01-31 NI683124 uk-core:ShareCapital 2024-01-31 NI683124 uk-core:ShareCapital 2023-01-31 NI683124 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI683124 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI683124 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI683124 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI683124 uk-bus:FRS102 2023-02-01 2024-01-31 NI683124 uk-core:LandBuildings 2023-02-01 2024-01-31 NI683124 uk-core:PlantMachinery 2023-02-01 2024-01-31 NI683124 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI683124 uk-core:CostValuation 2024-01-31 NI683124 2023-02-01 2024-01-31 NI683124 uk-bus:Director1 2023-02-01 2024-01-31 NI683124 uk-bus:Director2 2023-02-01 2024-01-31 NI683124 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Mourne Food & Drink Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2024



Mourne Food & Drink Ltd
Company Registration Number: NI683124
ABRIDGED BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 530,783 558,766
Investments 5 1,840,275 1,840,275
───────── ─────────
Fixed Assets 2,371,058 2,399,041
───────── ─────────
 
Current Assets
Stocks 104,863 103,656
Debtors 19,311 19,681
Cash and cash equivalents 27,929 48,459
───────── ─────────
152,103 171,796
───────── ─────────
Creditors: amounts falling due within one year (876,008) (872,843)
───────── ─────────
Net Current Liabilities (723,905) (701,047)
───────── ─────────
Total Assets less Current Liabilities 1,647,153 1,697,994
 
Creditors:
amounts falling due after more than one year (719,528) (733,445)
───────── ─────────
Net Assets 927,625 964,549
═════════ ═════════
 
Capital and Reserves
Called up share capital 1,000,100 1,000,100
Retained earnings (72,475) (35,551)
───────── ─────────
Shareholders' Funds 927,625 964,549
═════════ ═════════
 
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 31 January 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 21 October 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Seamus Devlin     Martin O'Higgins
Director     Director
           



Mourne Food & Drink Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Mourne Food & Drink Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI683124. The registered office of the company is 112 Camlough Road, Bessbrook, Newry, Down, BT35 7EE, Northern Ireland. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

These financial statements are for the individual entity for the year ended 31st January 2024. The comparative figures are for 15 months ended 31st January 2023 and therefore are not entirely comparable.
         
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 January 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 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:
 
  Land and buildings freehold - 2.5% Straight line
  Plant and machinery - 15% Straight line
  Fixtures, fittings and equipment - 10% 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 financial year in which it is receivable.
 
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.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
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
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.
 
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.
 
Share capital of the company
 
Ordinary share capital
The ordinary share capital of the company is presented as equity. Eaach share has equal rights to dividends.
 
Preference share capital
The redeemable preference shares may be redeemed by the issuer at any time at their par value. In the event of insolvency or winding up, the holders of the redeemable preference shares shall be entitled to payment in advance of the holders of ordinary shares. Dividends are payable at the discretion of the directors.  The redeemable preference shares carry no voting rights to a capital distribution on a winding up.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Employees 23 22
  ═════════ ═════════
           
4. Tangible assets
  Land and Plant and Fixtures, Total
  buildings machinery fittings and  
  freehold   equipment  
  £ £ £ £
Cost
At 1 February 2023 409,500 25,029 139,905 574,434
  ───────── ───────── ───────── ─────────
 
At 31 January 2024 409,500 25,029 139,905 574,434
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 1,790 1,842 12,036 15,668
Charge for the financial year 10,238 3,754 13,991 27,983
  ───────── ───────── ───────── ─────────
At 31 January 2024 12,028 5,596 26,027 43,651
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2024 397,472 19,433 113,878 530,783
  ═════════ ═════════ ═════════ ═════════
At 31 January 2023 407,710 23,187 127,869 558,766
  ═════════ ═════════ ═════════ ═════════
       
5. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 January 2024 1,840,275 1,840,275
  ───────── ─────────
Net book value
At 31 January 2024 1,840,275 1,840,275
  ═════════ ═════════
At 31 January 2023 1,840,275 1,840,275
  ═════════ ═════════
       
6. Security given over creditors
 
The aggregate amount of secured liabilities at the period end 31st January 2024 was £733,430 (2023: £746,379). This was secured over property owned by the company and its wholly owned subsidiary further supported by a negative pledge.
       
7. Financial commitments
 
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. The total pension contributions due to the fund at period end 31st January 2024 are £1,182 (2023: £1,090). These are included in creditors: amounts falling due within one year.