BrightAccountsProduction v1.0.0 v1.0.0 2023-07-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is poultry dealing and poultry haulage 5 March 2025 NI024099 2024-06-30 NI024099 2023-06-30 NI024099 2022-06-30 NI024099 2023-07-01 2024-06-30 NI024099 2022-07-01 2023-06-30 NI024099 uk-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI024099 uk-curr:PoundSterling 2023-07-01 2024-06-30 NI024099 uk-bus:AbridgedAccounts 2023-07-01 2024-06-30 NI024099 uk-core:ShareCapital 2024-06-30 NI024099 uk-core:ShareCapital 2023-06-30 NI024099 uk-core:RetainedEarningsAccumulatedLosses 2024-06-30 NI024099 uk-core:RetainedEarningsAccumulatedLosses 2023-06-30 NI024099 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-06-30 NI024099 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-06-30 NI024099 uk-bus:FRS102 2023-07-01 2024-06-30 NI024099 uk-core:PlantMachinery 2023-07-01 2024-06-30 NI024099 uk-core:MotorVehicles 2023-07-01 2024-06-30 NI024099 2023-07-01 2024-06-30 NI024099 uk-bus:Director1 2023-07-01 2024-06-30 NI024099 uk-bus:Director2 2023-07-01 2024-06-30 NI024099 uk-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
Owen McElroy (NI) Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 June 2024



Owen McElroy (NI) Ltd
Company Registration Number: NI024099
ABRIDGED BALANCE SHEET
as at 30 June 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 436,432 389,946
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Current Assets
Debtors 413,165 384,667
Cash and cash equivalents 35,892 97,594
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449,057 482,261
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Creditors: amounts falling due within one year (244,095) (309,683)
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Net Current Assets 204,962 172,578
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Total Assets less Current Liabilities 641,394 562,524
 
Creditors:
amounts falling due after more than one year (120,483) (116,830)
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Net Assets 520,911 445,694
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Capital and Reserves
Called up share capital 2 2
Retained earnings 520,909 445,692
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Shareholders' Funds 520,911 445,694
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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 Profit and Loss Account and Directors' Report.
For the financial year ended 30 June 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 5 March 2025 and signed on its behalf by
           
           
________________________________          
Owen McElroy          
Director          
           
           
________________________________
Brian McElroy
Director
           



Owen McElroy (NI) Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 June 2024

   
1. General Information
 
Owen McElroy (NI) Ltd is a company limited by shares incorporated in the 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 30 June 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.
 
Tangible assets and depreciation
Tangible assets 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 tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 25% Reducing Balance
  Motor vehicles - 15% 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.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
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.
 
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 Balance Sheet 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 Balance Sheet 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 Profit and Loss Account.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Drivers 1 -
Managers 2 2
  ───────── ─────────
  3 2
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4. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 July 2023 679,185 1,017,713 1,696,898
Additions 12,050 123,700 135,750
  ───────── ───────── ─────────
At 30 June 2024 691,235 1,141,413 1,832,648
  ───────── ───────── ─────────
Depreciation
At 1 July 2023 587,140 719,812 1,306,952
Charge for the financial year 26,024 63,240 89,264
  ───────── ───────── ─────────
At 30 June 2024 613,164 783,052 1,396,216
  ───────── ───────── ─────────
Net book value
At 30 June 2024 78,071 358,361 436,432
  ═════════ ═════════ ═════════
At 30 June 2023 92,045 297,901 389,946
  ═════════ ═════════ ═════════