Registered number
NI043288
AMENDED
Interbev Ireland Ltd
Unaudited Filleted Accounts
31 July 2024
Interbev Ireland Ltd
Registered number: NI043288
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 61,389 54,415
Current assets
Stocks 76,000 75,000
Debtors 4 418,868 251,094
Investments held as current assets 5 15,000 15,000
Cash at bank and in hand 653,803 497,465
1,163,671 838,559
Creditors: amounts falling due within one year 6 (635,124) (450,934)
Net current assets 528,547 387,625
Total assets less current liabilities 589,936 442,040
Creditors: amounts falling due after more than one year 7 (16,114) (36,074)
Net assets 573,822 405,966
Capital and reserves
Called up share capital 150,000 150,000
Profit and loss account 423,822 255,966
Shareholders' funds 573,822 405,966
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gerard Keenan
Director
Approved by the board on 5 March 2025
Interbev Ireland Ltd
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 August 2023 212,650 70,933 283,583
Additions 23,850 11,220 35,070
At 31 July 2024 236,500 82,153 318,653
Depreciation
At 1 August 2023 173,155 56,013 229,168
Charge for the year 18,705 9,391 28,096
At 31 July 2024 191,860 65,404 257,264
Net book value
At 31 July 2024 44,640 16,749 61,389
At 31 July 2023 39,495 14,920 54,415
4 Debtors 2024 2023
£ £
Trade debtors 366,020 198,246
Amounts owed by group undertakings 52,848 52,848
418,868 251,094
5 Investments held as current assets 2024 2023
£ £
Fair value
Unlisted investments 15,000 15,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 22,488 22,488
Trade creditors 475,415 343,415
Amounts owed by to group undertakings 100,000 -
Corporation tax 7,149 47,786
Other taxes and social security costs 30,072 37,245
635,124 450,934
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,114 36,074
8 Other information
Interbev Ireland Ltd is a private company limited by shares and incorporated in Northern Ireland. Its regsitered office is: 62a Drumconwell Road, Armagh, BT60 2LT.
Interbev Ireland Ltd NI043288 false 2023-08-01 2024-07-31 2024-07-31 VT Final Accounts April 2024 Gerard Keenan No description of principal activity NI043288 2022-08-01 2023-07-31 NI043288 core:WithinOneYear 2023-07-31 NI043288 core:AfterOneYear 2023-07-31 NI043288 core:ShareCapital 2023-07-31 NI043288 core:RetainedEarningsAccumulatedLosses 2023-07-31 NI043288 2023-08-01 2024-07-31 NI043288 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 NI043288 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 NI043288 bus:Director40 2023-08-01 2024-07-31 NI043288 1 2023-08-01 2024-07-31 NI043288 2 2023-08-01 2024-07-31 NI043288 core:PlantMachinery 2023-08-01 2024-07-31 NI043288 core:Vehicles 2023-08-01 2024-07-31 NI043288 countries:England 2023-08-01 2024-07-31 NI043288 bus:FRS102 2023-08-01 2024-07-31 NI043288 bus:FilletedAccounts 2023-08-01 2024-07-31 NI043288 2024-07-31 NI043288 core:WithinOneYear 2024-07-31 NI043288 core:AfterOneYear 2024-07-31 NI043288 core:ShareCapital 2024-07-31 NI043288 core:RetainedEarningsAccumulatedLosses 2024-07-31 NI043288 core:PlantMachinery 2024-07-31 NI043288 core:Vehicles 2024-07-31 NI043288 2023-07-31 NI043288 core:PlantMachinery 2023-07-31 NI043288 core:Vehicles 2023-07-31 iso4217:GBP xbrli:pure