1 May 2023 false Taxfiler 2024.6.1 NI035348business:PrivateLimitedCompanyLtd2023-05-012024-04-30 NI0353482023-04-30 NI0353482023-05-012024-04-30 NI035348business:AuditExemptWithAccountantsReport2023-05-012024-04-30 NI035348business:FilletedAccounts2023-05-012024-04-30 NI0353482024-04-30 NI035348business:Director12023-05-012024-04-30 NI035348business:Director22023-05-012024-04-30 NI035348business:CompanySecretary12023-05-012024-04-30 NI035348business:RegisteredOffice2023-05-012024-04-30 NI0353482023-04-30 NI035348core:WithinOneYear2024-04-30 NI035348core:WithinOneYear2023-04-30 NI035348core:ShareCapitalcore:PreviouslyStatedAmount2024-04-30 NI035348core:ShareCapitalcore:PreviouslyStatedAmount2023-04-30 NI035348core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-04-30 NI035348core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-04-30 NI035348core:PreviouslyStatedAmount2024-04-30 NI035348core:PreviouslyStatedAmount2023-04-30 NI035348business:SmallEntities2023-05-012024-04-30 NI035348countries:NorthernIreland2023-05-012024-04-30 NI035348core:LandBuildings2023-05-012024-04-30 NI035348core:PlantMachinery2023-05-012024-04-30 NI035348core:MotorVehicles2023-05-012024-04-30 NI035348core:LandBuildings2023-04-30 NI035348core:PlantMachinery2023-04-30 NI035348core:MotorVehicles2023-04-30 NI035348core:LandBuildings2024-04-30 NI035348core:PlantMachinery2024-04-30 NI035348core:MotorVehicles2024-04-30 NI035348core:WithinOneYear2023-05-012024-04-30 NI035348core:AcceleratedTaxDepreciationDeferredTax2024-04-30 NI035348core:AcceleratedTaxDepreciationDeferredTax2023-04-30 NI0353482022-04-30 NI0353482022-05-012023-04-30 NI035348business:OrdinaryShareClass12023-05-012024-04-30 NI035348business:OrdinaryShareClass12022-05-012023-04-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. NI035348 (Northern Ireland)
Speedy Registrations Company Limited Companies House accounts for the year ended 30 April 2024
Speedy Registrations Company Limited Companies House accounts Contents
Page
- 2 -
Speedy Registrations Company Limited Company Information for the year ended 30 April 2024
Directors
Desmond P Elton Brigitte Elton
Secretary
Mrs Brigitte Elton
Company Number
NI035348 (Northern Ireland)
Registered Office
Millwood Lisbellaw Enniskillen Co Fermanagh BT94 5HQ N Ireland
Accountants
Allan Montgomery & Co 100 Main Street Fivemiletown Co Tyrone BT75 0PW
- 3 -
Speedy Registrations Company Limited Statement of financial position as at 30 April 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
238,640 
249,362 
Current assets
Inventories
2,758,047 
2,629,171 
Debtors
17,165 
23,983 
Cash at bank and in hand
132,357 
145,997 
2,907,569 
2,799,151 
Creditors: amounts falling due within one year
(737,260)
(743,213)
Net current assets
2,170,309 
2,055,938 
Total assets less current liabilities
2,408,949 
2,305,300 
Provisions for liabilities
Deferred tax
(8,639)
(7,812)
Net assets
2,400,310 
2,297,488 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
2,400,110 
2,297,288 
Shareholders' funds
2,400,310 
2,297,488 
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 14 January 2025 and were signed on its behalf by
Desmond P Elton Director Company Registration No. NI035348
- 4 -
Speedy Registrations Company Limited Notes to the Accounts for the year ended 30 April 2024
1
Statutory information
Speedy Registrations Company Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI035348. The registered office is Millwood, Lisbellaw, Enniskillen, Co Fermanagh, BT94 5HQ, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover and income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Income is recognised when goods and services have been provided to customers such that risks and rewards of ownership have been transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
- 5 -
Speedy Registrations Company Limited Notes to the Accounts for the year ended 30 April 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as rentals are incurred. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2023
309,048 
96,708 
41,239 
446,995 
Additions
- 
900 
- 
900 
At 30 April 2024
309,048 
97,608 
41,239 
447,895 
Depreciation
At 1 May 2023
100,801 
78,689 
18,143 
197,633 
Charge for the year
4,165 
2,838 
4,619 
11,622 
At 30 April 2024
104,966 
81,527 
22,762 
209,255 
Net book value
At 30 April 2024
204,082 
16,081 
18,477 
238,640 
At 30 April 2023
208,247 
18,019 
23,096 
249,362 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
17,165 
23,983 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
3,694 
5,827 
Trade creditors
8,879 
8,233 
Taxes and social security
66,987 
49,525 
Other creditors
3,966 
6,430 
Loans from directors
653,734 
673,198 
737,260 
743,213 
Creditors due within one year include directors' loans £653,734 (2023 : £673,198)
- 6 -
Speedy Registrations Company Limited Notes to the Accounts for the year ended 30 April 2024
7
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
8,639 
7,812 
2024 
2023 
£ 
£ 
Provision at start of year
7,812 
9,372 
Charged/(credited) to the profit and loss account
827 
(1,560)
Provision at end of year
8,639 
7,812 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
9
Transactions with related parties
The company uses premises owned by the Directors for which they are paid a rent set at commercial rates on an arm's length basis. The amount of rent incurred for the year was £12,000.
10
Average number of employees
During the year the average number of employees was 10 (2023: 11).
- 7 -