11 01/10/2022 29/02/2024 2024-02-29 true false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2022-10-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP NI620635 2022-10-01 2024-02-29 NI620635 2024-02-29 NI620635 2022-09-30 NI620635 2021-10-01 2022-09-30 NI620635 2022-09-30 NI620635 2021-09-30 NI620635 bus:RegisteredOffice 2022-10-01 2024-02-29 NI620635 bus:LeadAgentIfApplicable 2022-10-01 2024-02-29 NI620635 bus:Director2 2022-10-01 2024-02-29 NI620635 bus:Director3 2022-10-01 2024-02-29 NI620635 bus:Director1 2022-10-01 2024-02-29 NI620635 core:WithinOneYear 2024-02-29 NI620635 core:WithinOneYear 2022-09-30 NI620635 core:AfterOneYear 2024-02-29 NI620635 core:ShareCapital 2024-02-29 NI620635 core:ShareCapital 2022-09-30 NI620635 core:RetainedEarningsAccumulatedLosses 2024-02-29 NI620635 core:RetainedEarningsAccumulatedLosses 2022-09-30 NI620635 bus:Director1 2024-02-29 NI620635 bus:Director1 2022-09-30 NI620635 bus:SmallEntities 2022-10-01 2024-02-29 NI620635 bus:AuditExempt-NoAccountantsReport 2022-10-01 2024-02-29 NI620635 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2024-02-29 NI620635 bus:PrivateLimitedCompanyLtd 2022-10-01 2024-02-29 NI620635 bus:AbridgedAccounts 2022-10-01 2024-02-29
Company registration number: NI620635
Fermanagh Metals Limited
Unaudited filleted abridged financial statements
29 February 2024
Fermanagh Metals Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Fermanagh Metals Limited
Directors and other information
Directors
Mr Fergal Trainor
Mrs Frances Trainor
Company number NI620635
Registered office 9 Lackaghboy Road
Lackaghboy
Enniskillen
County Fermanagh
BT74 4RL
Accountants Crudden Dolan Limited
23-25 Darling Street
Enniskillen
County Fermanagh
BT74 7DP
Bankers HSBC UK
1 Dublin Road
Omagh
County Tyrone
BT78 1ES
Fermanagh Metals Limited
Abridged statement of financial position
29 February 2024
29/02/24 30/09/22
Note £ £ £ £
Current assets
Stocks 101,105 116,370
Debtors 267,026 3,952
Cash at bank and in hand 2,895 29,185
_______ _______
371,026 149,507
Creditors: amounts falling due
within one year ( 161,962) ( 86,655)
_______ _______
Net current assets 209,064 62,852
_______ _______
Total assets less current liabilities 209,064 62,852
Creditors: amounts falling due
after more than one year ( 97,373) -
_______ _______
Net assets 111,691 62,852
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 111,689 62,850
_______ _______
Shareholders funds 111,691 62,852
_______ _______
For the period ending 29 February 2024 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 financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current period ending 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 31 December 2024 , and are signed on behalf of the board by:
Mr Fergal Trainor Mrs Frances Trainor
Director Director
Company registration number: NI620635
Fermanagh Metals Limited
Notes to the financial statements
Period ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 9 Lackaghboy Road, Lackaghboy, Enniskillen, County Fermanagh, BT74 4RL.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 11 (2022: Nil).
5. Directors advances, credits and guarantees
Balance brought forward and o/standing Balance brought forward and o/standing
Period Year
ended ended
29/02/24 30/09/22
£ £
Clodagh McCaffrey 3,952 3,952
_______ _______