Acorah Software Products - Accounts Production 16.1.200 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 NI072602 Mr Diarmaid McLaughlin Mr Kienan McLaughlin Mr John McShane Mrs Kathleen McShane iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI072602 2023-09-30 NI072602 2024-09-30 NI072602 2023-10-01 2024-09-30 NI072602 frs-core:CurrentFinancialInstruments 2024-09-30 NI072602 frs-core:Non-currentFinancialInstruments 2024-09-30 NI072602 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-10-01 2024-09-30 NI072602 frs-core:FurnitureFittings 2024-09-30 NI072602 frs-core:FurnitureFittings 2023-10-01 2024-09-30 NI072602 frs-core:FurnitureFittings 2023-09-30 NI072602 frs-core:NetGoodwill 2024-09-30 NI072602 frs-core:NetGoodwill 2023-10-01 2024-09-30 NI072602 frs-core:NetGoodwill 2023-09-30 NI072602 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2024-09-30 NI072602 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 NI072602 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-09-30 NI072602 frs-core:MotorVehicles 2024-09-30 NI072602 frs-core:MotorVehicles 2023-10-01 2024-09-30 NI072602 frs-core:MotorVehicles 2023-09-30 NI072602 frs-core:PlantMachinery 2024-09-30 NI072602 frs-core:PlantMachinery 2023-10-01 2024-09-30 NI072602 frs-core:PlantMachinery 2023-09-30 NI072602 frs-core:ShareCapital 2024-09-30 NI072602 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI072602 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI072602 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 NI072602 frs-bus:SmallEntities 2023-10-01 2024-09-30 NI072602 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 NI072602 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI072602 frs-bus:Director1 2023-10-01 2024-09-30 NI072602 frs-bus:Director2 2023-10-01 2024-09-30 NI072602 frs-bus:Director3 2023-10-01 2024-09-30 NI072602 frs-bus:Director4 2023-10-01 2024-09-30 NI072602 frs-countries:NorthernIreland 2023-10-01 2024-09-30 NI072602 2022-09-30 NI072602 2023-09-30 NI072602 2022-10-01 2023-09-30 NI072602 frs-core:CurrentFinancialInstruments 2023-09-30 NI072602 frs-core:Non-currentFinancialInstruments 2023-09-30 NI072602 frs-core:ShareCapital 2023-09-30 NI072602 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30
Registered number: NI072602
GLEN FRESH FOODS LTD
Unaudited Financial Statements
For The Year Ended 30 September 2024
Gray + Press Accountants
21 Old Channel Road
Unit 4A Channel Wharf
Belfast
Antrim
BT3 9DE
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: NI072602
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 180,000 200,000
Tangible Assets 5 209,011 210,015
389,011 410,015
CURRENT ASSETS
Stocks 6 33,229 21,756
Debtors 7 236,873 256,533
Cash at bank and in hand 697 650
270,799 278,939
Creditors: Amounts Falling Due Within One Year 8 (582,109 ) (621,487 )
NET CURRENT ASSETS (LIABILITIES) (311,310 ) (342,548 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,701 67,467
Creditors: Amounts Falling Due After More Than One Year 9 (24,403 ) (58,321 )
NET ASSETS 53,298 9,146
CAPITAL AND RESERVES
Called up share capital 200 200
Profit and Loss Account 53,098 8,946
SHAREHOLDERS' FUNDS 53,298 9,146
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For the year ending 30 September 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kienan McLaughlin
Director
23/12/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
GLEN FRESH FOODS LTD is a private company, limited by shares, incorporated in Northern Ireland, registered number NI072602 . The registered office is Unit F965 Dublin Road Industrial Estate , BT82 9EA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or  intangible assets cannot be made, the life is presumed not to exceed ten years.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Freehold 4% Straight Line
Plant & Machinery 10% Straight Line
Motor Vehicles 0% Straight Line
Fixtures & Fittings 10% Straight Line
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. 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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 32)
15 32
4. Intangible Assets
Goodwill
£
Cost
As at 1 October 2023 200,000
As at 30 September 2024 200,000
Amortisation
As at 1 October 2023 -
Provided during the period 20,000
As at 30 September 2024 20,000
Net Book Value
As at 30 September 2024 180,000
As at 1 October 2023 200,000
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 October 2023 203,164 445,451 130,861 18,229 797,705
Additions - 14,315 - - 14,315
Disposals - - (1,400 ) - (1,400 )
As at 30 September 2024 203,164 459,766 129,461 18,229 810,620
Depreciation
As at 1 October 2023 - 440,358 130,861 16,471 587,690
Provided during the period 8,127 5,434 - 1,758 15,319
Disposals - - (1,400 ) - (1,400 )
As at 30 September 2024 8,127 445,792 129,461 18,229 601,609
Net Book Value
As at 30 September 2024 195,037 13,974 - - 209,011
As at 1 October 2023 203,164 5,093 - 1,758 210,015
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6. Stocks
2024 2023
£ £
Stock 33,229 21,756
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 223,737 234,315
Other debtors 13,136 22,218
236,873 256,533
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 260,516 268,521
Bank loans and overdrafts 32,201 66,702
Amounts owed to group undertakings 20,000 -
Other creditors 250,753 268,677
Taxation and social security 18,639 17,587
582,109 621,487
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 24,403 58,321
10. Related Party Transactions
Included in creditors is amounts owed totalling £20,000
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