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REGISTERED NUMBER: NI005037 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Ulster Journals Limited

Ulster Journals Limited (Registered number: NI005037)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Ulster Journals Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C J Sherry
R McGowan-Smyth
R G Sherry
J P Sherry



SECRETARY: J P Sherry



REGISTERED OFFICE: 39 Boucher Road
Belfast
Co. Antrim
BT12 6HR



REGISTERED NUMBER: NI005037 (Northern Ireland)



ACCOUNTANTS: Lynn Drake & Co Ltd
Chartered Accountants
1st Floor
34 B-D Main Street
Moira
Co. Armagh
BT67 0LE



SOLICITORS: Worthingtons Solicitors
92 High Street
Belfast
BT1 2BG

Ulster Journals Limited (Registered number: NI005037)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 17,284 19,077

CURRENT ASSETS
Stocks 56,916 60,362
Debtors 6 254,074 333,856
Cash at bank and in hand 101,011 108,690
412,001 502,908
CREDITORS
Amounts falling due within one year 7 256,874 245,076
NET CURRENT ASSETS 155,127 257,832
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,411

276,909

PROVISIONS FOR LIABILITIES 4,145 4,555
NET ASSETS 168,266 272,354

CAPITAL AND RESERVES
Called up share capital 45,750 45,750
Retained earnings 122,516 226,604
SHAREHOLDERS' FUNDS 168,266 272,354

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Ulster Journals Limited (Registered number: NI005037)

Balance Sheet - continued
30 September 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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:




C J Sherry - Director R G Sherry - Director




J P Sherry - Director


Ulster Journals Limited (Registered number: NI005037)

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

1. STATUTORY INFORMATION

Ulster Journals 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Fixtures and fittings - 25% on Reducing Balance
Motor vehicles - 25% on Reducing Balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment ar recognised in the profit and loss account in other administrative expenses.


Ulster Journals Limited (Registered number: NI005037)

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

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

4. EMPLOYEES AND DIRECTORS

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

Ulster Journals Limited (Registered number: NI005037)

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

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023 195,334 12,925 208,259
Additions 1,099 - 1,099
At 30 September 2024 196,433 12,925 209,358
DEPRECIATION
At 1 October 2023 179,354 9,828 189,182
Charge for year 2,275 617 2,892
At 30 September 2024 181,629 10,445 192,074
NET BOOK VALUE
At 30 September 2024 14,804 2,480 17,284
At 30 September 2023 15,980 3,097 19,077

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 222,354 222,281
Amounts owed by group undertakings 18,418 97,718
Other debtors 13,302 13,857
254,074 333,856

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade creditors 97,017 90,831
Taxation and social security 85,429 92,839
Other creditors 74,428 61,406
256,874 245,076