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REGISTERED NUMBER: NI641240 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

RATHCOOLE ENTERPRISE LTD

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


RATHCOOLE ENTERPRISE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: G Wall
Mrs H Wall





REGISTERED OFFICE: 17 Clarendon Road
Clarendon Dock
Belfast
Co. Antrim
BT1 3BG





REGISTERED NUMBER: NI641240 (Northern Ireland)





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

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,781 18,781
Tangible assets 5 284,654 346,123
298,435 364,904

CURRENT ASSETS
Stocks 165,164 154,571
Debtors 6 780,826 782,085
Cash at bank and in hand 128,003 188,739
1,073,993 1,125,395
CREDITORS
Amounts falling due within one year 7 996,578 1,010,048
NET CURRENT ASSETS 77,415 115,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

375,850

480,251

CREDITORS
Amounts falling due after more than one
year

8

(121,327

)

(186,550

)

PROVISIONS FOR LIABILITIES (32,259 ) (39,850 )
NET ASSETS 222,264 253,851

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 222,164 253,751
SHAREHOLDERS' FUNDS 222,264 253,851

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were authorised for issue by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





Mrs H Wall - Director


RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Rathcoole Enterprise 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 (£).


The address of the company's place of business is 42 Doagh Road , Newtownabbey , BT37 9NY.

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:

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

Consider the valuation of stock and the requirement for write down provisions. These considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into account include historical experience and knowledge of the sector. Stock identified as impaired will be written down in value in the relevant period.

The director also considers the depreciation and amortisation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - not provided
Fixtures, fittings & equipment - 15% on cost and 10% on cost
Computer equipment - 15% on cost

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

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023 31,219
Amortisation for year 5,000
At 30 April 2024 36,219
NET BOOK VALUE
At 30 April 2024 13,781
At 30 April 2023 18,781

5. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings Computer
property & equipment equipment Totals
£    £    £    £   
COST
At 1 May 2023 13,921 816,485 3,277 833,683
Additions - 30,649 1,106 31,755
At 30 April 2024 13,921 847,134 4,383 865,438
DEPRECIATION
At 1 May 2023 - 486,725 835 487,560
Charge for year - 92,698 526 93,224
At 30 April 2024 - 579,423 1,361 580,784
NET BOOK VALUE
At 30 April 2024 13,921 267,711 3,022 284,654
At 30 April 2023 13,921 329,760 2,442 346,123

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Amounts owed by group undertakings 682,261 682,261
Other debtors 98,565 99,824
780,826 782,085

RATHCOOLE ENTERPRISE LTD (REGISTERED NUMBER: NI641240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 383,443 328,398
Amounts owed to group undertakings 435,468 447,686
Taxation and social security 53,065 90,667
Other creditors 124,602 143,297
996,578 1,010,048

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Other creditors 121,327 186,550

9. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Other loans 176,964 228,523

The other loans are secured by a fixed and floating charge over all of the assets of the business being undertaken from the property at 38-42 Doagh Road, Newtownabbey, BT37 9NY, including goodwill.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent undertaking is Rathcoole PFS Ltd, a company incorporated in Northern Ireland.

The ultimate controlling parties are Mr G Wall and Mrs H Wall by virtue of their shareholding.