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REGISTERED NUMBER: NI640296 (Northern Ireland)















SLUGGAN HOLDINGS LTD

Unaudited Financial Statements for the Year Ended 31 August 2024






SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


SLUGGAN HOLDINGS LTD

Company Information
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Paul Murphy
Martina Murphy





REGISTERED OFFICE: 91 Sluggan Road
Pomeroy
Dungannon
Co. Tyrone
BT70 2UP





REGISTERED NUMBER: NI640296 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Sluggan Holdings Ltd

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 31 August 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 31 August 2024 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP


26 February 2025

SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)

Statement of Financial Position
31 AUGUST 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant & equipment 5 2,589,679 2,571,375
Investments 6 1,040 1,040
2,590,719 2,572,415

CURRENT ASSETS
Receivables: amounts falling due within
one year

7

16,908

155,732
Cash at bank 472,171 274,123
489,079 429,855
PAYABLES
Amounts falling due within one year 8 (449,784 ) (276,880 )
NET CURRENT ASSETS 39,295 152,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,630,014

2,725,390

PAYABLES
Amounts falling due after more than
one year

9

-

(810,422

)

PROVISIONS FOR LIABILITIES (438,326 ) -
NET ASSETS 2,191,688 1,914,968

CAPITAL AND RESERVES
Called up share capital 11 50 50
Retained earnings 2,191,638 1,914,918
SHAREHOLDERS' FUNDS 2,191,688 1,914,968

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 August 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.

SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)

Statement of Financial Position - continued
31 AUGUST 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 approved by the Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





Paul Murphy - Director


SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Sluggan Holdings 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.

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 are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Freehold property- 4% Straight Line
Plant and machinery- 25% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

3. ACCOUNTING POLICIES - continued

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

Finance costs
Finance costs are charged to the Income Statement over the term of the debt.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and
property machinery Totals
£ £ £
COST
At 1 September 2023 1,648,505 966,012 2,614,517
Additions 38,934 330,989 369,923
Disposals - (28,000 ) (28,000 )
At 31 August 2024 1,687,439 1,269,001 2,956,440
DEPRECIATION
At 1 September 2023 1,438 41,704 43,142
Charge for year 66,631 256,988 323,619
At 31 August 2024 68,069 298,692 366,761
NET BOOK VALUE
At 31 August 2024 1,619,370 970,309 2,589,679
At 31 August 2023 1,647,067 924,308 2,571,375

6. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£ £ £
COST
At 1 September 2023
and 31 August 2024 40 1,000 1,040
NET BOOK VALUE
At 31 August 2024 40 1,000 1,040
At 31 August 2023 40 1,000 1,040

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other receivables 16,908 155,732

SLUGGAN HOLDINGS LTD (REGISTERED NUMBER: NI640296)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts - 92,000
Trade payables 21,284 20,001
Amounts owed to group undertakings 347,342 34,920
Other payables 81,158 129,959
449,784 276,880

The amount owed to group undertakings are interest free and repayable on demand.

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans - 810,422

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Bank loans - 902,422

The bank loan is secured by a fixed and floating charge over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
50 Ordinary 1 50 50

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A balance of £80,658 (2023 - £124,547) was owing from the company to the directors at the
year end.