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REGISTERED NUMBER: NI038298 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Screenspares Direct Ltd

Screenspares Direct Ltd (Registered number: NI038298)






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 8


Screenspares Direct Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S D O'Neill
J M O'Neill





REGISTERED OFFICE: 47A Moor Road
Coalisland
Co. Tyrone
BT71 4QB





REGISTERED NUMBER: NI038298 (Northern Ireland)





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

Screenspares Direct Ltd (Registered number: NI038298)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 317,672 281,716

CURRENT ASSETS
Stocks 482,954 601,258
Debtors 6 1,947,333 2,684,271
Investments 7 1,701,215 -
Cash at bank 268,496 742,945
4,399,998 4,028,474
CREDITORS
Amounts falling due within one year 8 561,619 808,179
NET CURRENT ASSETS 3,838,379 3,220,295
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,156,051

3,502,011

CREDITORS
Amounts falling due after more than one
year

9

(7,210

)

-

PROVISIONS FOR LIABILITIES 10 (29,971 ) (17,867 )
NET ASSETS 4,118,870 3,484,144

CAPITAL AND RESERVES
Called up share capital 11 277,001 277,001
Retained earnings 3,841,869 3,207,143
SHAREHOLDERS' FUNDS 4,118,870 3,484,144

Screenspares Direct Ltd (Registered number: NI038298)

Balance Sheet - continued
30 April 2024


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.

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 24 March 2025 and were signed on its behalf by:




S D O'Neill - Director



J M O'Neill - Director


Screenspares Direct Ltd (Registered number: NI038298)

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

1. STATUTORY INFORMATION

Screenspares Direct 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 (£).


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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost and 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
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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.


Screenspares Direct Ltd (Registered number: NI038298)

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

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates fo charge on the net obligations outstanding in each period.

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.

Screenspares Direct Ltd (Registered number: NI038298)

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

3. ACCOUNTING POLICIES - continued

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 24 (2023 - 24 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 May 2023 311,539 475,108 60,823 107,091 954,561
Additions - 42,306 600 48,100 91,006
Disposals - (20,856 ) - (33,845 ) (54,701 )
At 30 April 2024 311,539 496,558 61,423 121,346 990,866
DEPRECIATION
At 1 May 2023 101,290 430,646 59,633 81,276 672,845
Charge for year 12,462 34,864 1,128 6,596 55,050
Eliminated on disposal - (20,856 ) - (33,845 ) (54,701 )
At 30 April 2024 113,752 444,654 60,761 54,027 673,194
NET BOOK VALUE
At 30 April 2024 197,787 51,904 662 67,319 317,672
At 30 April 2023 210,249 44,462 1,190 25,815 281,716

Screenspares Direct Ltd (Registered number: NI038298)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 20,600
At 30 April 2024 20,600
DEPRECIATION
Charge for year 4,721
At 30 April 2024 4,721
NET BOOK VALUE
At 30 April 2024 15,879

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 1,009,672 1,588,603
Other debtors 4,909 3,821
Supplier payments on account 232,008 381,070
Other loans 700,000 700,000
Prepayments 744 10,777
1,947,333 2,684,271

7. CURRENT ASSET INVESTMENTS
30.4.24 30.4.23
£    £   
Listed investments 1,701,215 -

Screenspares Direct Ltd (Registered number: NI038298)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 6,180 -
Trade creditors 187,739 301,664
Tax 160,708 143,246
Social security and other taxes 6,740 10,514
VAT 33,063 128,953
Other creditors 138,085 141,879
Pension creditor 2,495 3,237
Directors' current accounts 4,506 11,032
Accrued expenses 22,103 67,654
561,619 808,179

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 7,210 -

10. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax
Accelerated capital allowances 29,971 17,867

Deferred
tax
£   
Balance at 1 May 2023 17,867
Charge to Statement of Income and Retained Earnings during year 12,104
Balance at 30 April 2024 29,971

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
277,001 Ordinary £1 277,001 277,001