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REGISTERED NUMBER: NI629905 (Northern Ireland)















Financial Statements for the Year Ended 30 April 2024

for

Ernecast Limited

Ernecast Limited (Registered number: NI629905)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ernecast Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: P McCaffrey
S McCaffrey





REGISTERED OFFICE: 49 Knockninny Road
Aghakillymaud
Derrylin
Co. Fermanagh
BT92 9JT





REGISTERED NUMBER: NI629905 (Northern Ireland)





AUDITORS: Dundas Gallagher
Chartered Accountants and Statutory Auditors
Thistlebank House
2 Old Henry Street
Enniskillen
Co. Fermanagh
BT74 7JX

Ernecast Limited (Registered number: NI629905)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 10,000 15,000
Tangible assets 5 1,959,932 1,767,453
1,969,932 1,782,453

CURRENT ASSETS
Stocks 201,971 163,382
Debtors 6 755,665 677,153
Cash at bank 2,295,105 2,153,808
3,252,741 2,994,343
CREDITORS
Amounts falling due within one year 7 2,176,712 2,142,877
NET CURRENT ASSETS 1,076,029 851,466
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,045,961

2,633,919

CREDITORS
Amounts falling due after more than one year 8 (137,386 ) (117,679 )

PROVISIONS FOR LIABILITIES (277,473 ) (150,608 )
NET ASSETS 2,631,102 2,365,632

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 2,631,101 2,365,631
SHAREHOLDERS' FUNDS 2,631,102 2,365,632

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 approved by the Board of Directors and authorised for issue on 30 January 2025 and were signed on its behalf by:




P McCaffrey - Director



S McCaffrey - Director


Ernecast Limited (Registered number: NI629905)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Ernecast Limited 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 and on a going concern basis.

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 2016, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible fixed assets are originally stated at cost (or deemed cost) and subsequently carried at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter:

Land and buildings- 2% straight line
Plant and machinery- 10% on reducing balance
Motor vehicles- 20% on reducing balance
Fixtures and fittings- 20% straight line
Computer equipment- 15% on reducing balance

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

Financial instruments
Basic financial assets, including trade and other debtors, loans from group companies and bank balances are recognised at transaction price. There are no financing arrangements.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Basic financial liabilities including trade and other creditors are recognised at transaction price. There are no financing arrangements.

Financial liabilities are presented as such in the balance sheet.

Where contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited directly to equity.


Ernecast Limited (Registered number: NI629905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The company returned a net profit of £415,063 for the year to 30 April 2024 . The company returned a net profit of £464,008 in the prior year. The company continues to demonstrate growth in revenues, continuing profitability and an increasing net asset position.

The owners have expressed their satisfaction with the performance of the business and confirmed their support for the company going forward.

Based on the above, it is deemed appropriate for the company to be regarded as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 23 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023 35,000
Charge for year 5,000
At 30 April 2024 40,000
NET BOOK VALUE
At 30 April 2024 10,000
At 30 April 2023 15,000

Ernecast Limited (Registered number: NI629905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 400,000 2,998,356 3,398,356
Additions - 481,318 481,318
Disposals - (98,400 ) (98,400 )
At 30 April 2024 400,000 3,381,274 3,781,274
DEPRECIATION
At 1 May 2023 56,000 1,574,903 1,630,903
Charge for year 8,000 244,732 252,732
Eliminated on disposal - (62,293 ) (62,293 )
At 30 April 2024 64,000 1,757,342 1,821,342
NET BOOK VALUE
At 30 April 2024 336,000 1,623,932 1,959,932
At 30 April 2023 344,000 1,423,453 1,767,453

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 634,376 614,354
Other debtors 121,289 62,799
755,665 677,153

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 52,800 52,800
Hire purchase contracts 41,615 26,782
Trade creditors 374,123 216,375
Amounts owed to group undertakings 1,733,640 1,752,680
Taxation and social security (51,321 ) 58,820
Other creditors 25,855 35,420
2,176,712 2,142,877

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 75,874 117,679
Hire purchase contracts 61,512 -
137,386 117,679

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £0.01 1 1

Ernecast Limited (Registered number: NI629905)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ruairi Dundas (Senior Statutory Auditor)
for and on behalf of Dundas Gallagher

11. POST BALANCE SHEET EVENTS

There have been no significant events affecting the company since the financial year end.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr P McCaffrey and Mr S McCaffrey.