BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the compnay is to carry on the business of gas and oil distributes. 28 January 2025 3 3 NI014298 2024-05-31 NI014298 2023-05-31 NI014298 2022-05-31 NI014298 2023-06-01 2024-05-31 NI014298 2022-06-01 2023-05-31 NI014298 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI014298 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI014298 uk-bus:AbridgedAccounts 2023-06-01 2024-05-31 NI014298 uk-core:ShareCapital 2024-05-31 NI014298 uk-core:ShareCapital 2023-05-31 NI014298 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI014298 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI014298 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI014298 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI014298 uk-bus:FRS102 2023-06-01 2024-05-31 NI014298 uk-core:LandBuildings 2023-06-01 2024-05-31 NI014298 uk-core:Land 2023-06-01 2024-05-31 NI014298 uk-core:PlantMachinery 2023-06-01 2024-05-31 NI014298 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI014298 uk-core:MotorVehicles 2023-06-01 2024-05-31 NI014298 uk-core:CostValuation 2024-05-31 NI014298 2023-06-01 2024-05-31 NI014298 uk-bus:Director1 2023-06-01 2024-05-31 NI014298 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI014298
 
 
Armaghmourne Gas Co. Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 May 2024
Armaghmourne Gas Co. Limited
Company Registration Number: NI014298
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 May 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 170,756 183,389
Financial assets 5 2,000 2,000
───────── ─────────
Non-Current Assets 172,756 185,389
───────── ─────────
 
Current Assets
Stocks 10,750 10,750
Debtors 58,297 79,153
Cash and cash equivalents 131,999 115,506
───────── ─────────
201,046 205,409
───────── ─────────
Creditors: amounts falling due within one year (155,022) (159,142)
───────── ─────────
Net Current Assets 46,024 46,267
───────── ─────────
Total Assets less Current Liabilities 218,780 231,656
 
Creditors:
amounts falling due after more than one year (56,897) (76,495)
 
Provisions for liabilities (5,644) (6,362)
───────── ─────────
Net Assets 156,239 148,799
═════════ ═════════
 
Capital and Reserves
Called up share capital 9,770 9,770
Retained earnings 146,469 139,029
───────── ─────────
Equity attributable to owners of the company 156,239 148,799
═════════ ═════════
 
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 Income Statement and Directors' Report.
For the financial year ended 31 May 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 28 January 2025 and signed on its behalf by
           
           
________________________________          
Mr. Noel Devlin          
Director          
           



Armaghmourne Gas Co. Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
Armaghmourne Gas Co. Limited is a company limited by shares incorporated in Northern Ireland.
         
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 year ended 31 May 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.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Long leasehold property - 5% Straight line
  Plant and machinery - 15% Reducing balance
  Fixtures, fittings and equipment - 20% Reducing balance
  Motor vehicles - 20% Reducing balance
 
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.
 
Financial assets
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 Income Statement in the year in which it is receivable.
 
Stocks
Stockss are valued at the lower of cost and net realisable value. Stockss 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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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 and deferred 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 Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position 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 Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 3, (2023 - 3).
 
  2024 2023
  Number Number
 
Employee 3 3
  ═════════ ═════════
             
4. Property, plant and equipment
  Long Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost or Valuation
At 1 June 2023 195,207 168,472 22,931 27,791 414,401
Additions - 18,000 - - 18,000
Disposals - (7,000) - (27,791) (34,791)
  ───────── ───────── ───────── ───────── ─────────
At 31 May 2024 195,207 179,472 22,931 - 397,610
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 56,309 134,104 20,092 20,507 231,012
Charge for the financial year 8,976 6,806 567 1,457 17,806
On disposals - - - (21,964) (21,964)
  ───────── ───────── ───────── ───────── ─────────
At 31 May 2024 65,285 140,910 20,659 - 226,854
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 129,922 38,562 2,272 - 170,756
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 May 2023 138,898 34,368 2,839 7,284 183,389
  ═════════ ═════════ ═════════ ═════════ ═════════
       
5. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
 
At 31 May 2024 2,000 2,000
  ───────── ─────────
Net book value
At 31 May 2024 2,000 2,000
  ═════════ ═════════
At 31 May 2023 2,000 2,000
  ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
   
7. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.