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REGISTERED NUMBER: NI040342 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

KATRIONA LTD

KATRIONA LTD (REGISTERED NUMBER: NI040342)

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


KATRIONA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Mrs K Monaghan





SECRETARY: K Monaghan





REGISTERED OFFICE: 6-8 Scarva Street
Banbridge
Down
BT32 3DA





REGISTERED NUMBER: NI040342 (Northern Ireland)





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

KATRIONA LTD (REGISTERED NUMBER: NI040342)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 58,851 71,853
Investments 5 1 1
58,852 71,854

CURRENT ASSETS
Stocks 331,722 328,167
Debtors 6 11,016 1,851
Cash at bank and in hand 61,511 126,243
404,249 456,261
CREDITORS
Amounts falling due within one year 7 351,885 347,345
NET CURRENT ASSETS 52,364 108,916
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,216

180,770

PROVISIONS FOR LIABILITIES 10,340 9,702
NET ASSETS 100,876 171,068

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 100,776 170,968
SHAREHOLDERS' FUNDS 100,876 171,068

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 director acknowledges her 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.

KATRIONA LTD (REGISTERED NUMBER: NI040342)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2025 and were signed by:





Mrs K Monaghan - Director


KATRIONA LTD (REGISTERED NUMBER: NI040342)

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


1. STATUTORY INFORMATION

Katriona Ltd 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 director has made the following judgements and estimates:

The determination of whether there are indicators of impairment of the company's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and business in general.

The consideration of the recoverability of trade debtors and the valuation of stock and the need for impairment provisions for these asset classes. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience, current market conditions and knowledge of the sector. Amounts identified as being impaired will be provided against in the relevant period.

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

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold Improvements - 15% on reducing balance
Improvements to property - 15% on reducing balance
Fixtures, fittings & equipment - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

KATRIONA LTD (REGISTERED NUMBER: NI040342)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings
All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 13 ) .

KATRIONA LTD (REGISTERED NUMBER: NI040342)

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


4. TANGIBLE FIXED ASSETS
Improvements Fixtures,
Leasehold to fittings Motor
Improvements property & equipment vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 29,921 251,646 147,989 33,295 462,851
Disposals - - - (7,095 ) (7,095 )
At 31 August 2024 29,921 251,646 147,989 26,200 455,756
DEPRECIATION
At 1 September 2023 29,601 218,870 131,392 11,135 390,998
Charge for year 64 4,916 3,324 4,353 12,657
Eliminated on disposal - - - (6,750 ) (6,750 )
At 31 August 2024 29,665 223,786 134,716 8,738 396,905
NET BOOK VALUE
At 31 August 2024 256 27,860 13,273 17,462 58,851
At 31 August 2023 320 32,776 16,597 22,160 71,853

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 September 2023
and 31 August 2024 1
NET BOOK VALUE
At 31 August 2024 1
At 31 August 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 11,016 1,851

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 18,232 28,283
Trade creditors 259,470 230,400
Taxation and social security 66,922 75,891
Other creditors 7,261 12,771
351,885 347,345

KATRIONA LTD (REGISTERED NUMBER: NI040342)

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


8. CONTINGENT LIABILITIES

A contingent liability may exist in respect of a repayment of grant income to HM Revenue and Customs should the conditions under which a grant was awarded to the company not be met. Due to the nature of these contingencies, it is not currently possible to estimate the likelihood of this occurring, nor quantify the financial effect or provide an indication of timing as to the potential liability that may arise.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs K Monaghan.