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REGISTERED NUMBER: NI055704 (Northern Ireland)















Financial Statements for the Year Ended 30 June 2024

for

Scissors (Newry) Limited

Scissors (Newry) Limited (Registered number: NI055704)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Scissors (Newry) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mrs C Loughran





SECRETARY: Mrs K Gray





REGISTERED OFFICE: 4 Marcus St
Newry
Co. Down
BT34 1AZ





REGISTERED NUMBER: NI055704 (Northern Ireland)





ACCOUNTANTS: Farrell & Farrell
35 Main St
Hilltown
Newry
Co. Down
BT34 5UJ

Scissors (Newry) Limited (Registered number: NI055704)

Abridged Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,892 25,069

CURRENT ASSETS
Stocks 4,500 4,500
Debtors 14,731 12,365
Cash at bank 2,726 2,289
21,957 19,154
CREDITORS
Amounts falling due within one year 31,943 25,986
NET CURRENT LIABILITIES (9,986 ) (6,832 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,906

18,237

CREDITORS
Amounts falling due after more than one
year

277,428

282,999
NET LIABILITIES (265,522 ) (264,762 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (265,524 ) (264,764 )
SHAREHOLDERS' FUNDS (265,522 ) (264,762 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Scissors (Newry) Limited (Registered number: NI055704)

Abridged Balance Sheet - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 March 2025 and were signed by:





Mrs C Loughran - Director


Scissors (Newry) Limited (Registered number: NI055704)

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

1. STATUTORY INFORMATION

Scissors (Newry) 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.

2. ACCOUNTING POLICIES

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

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The balance sheet has net liabilities however the director believes that it is appropriate for the financial statements to be prepared on the going concern basis.

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.
Land and buildings - 4% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2023 111,419
Additions 224
At 30 June 2024 111,643
DEPRECIATION
At 1 July 2023 86,350
Charge for year 3,401
At 30 June 2024 89,751
NET BOOK VALUE
At 30 June 2024 21,892
At 30 June 2023 25,069

Scissors (Newry) Limited (Registered number: NI055704)

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

5. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The owner of the property, Ms Catriona Boyle, did not charge the company any rent for the year ended 30 June 2024.

At the year end the company owed the director the sum of £1,288. This balance is included within other creditors.

6. RELATED PARTY DISCLOSURES

Included within Other Creditors is an amount outstanding to Mr John Boyle for £271,250. There was no interest charged on this balance. Mr John Boyle is a related party of the director. Repayment of funds provided by Mr Boyle is not expected until the company returns to a profitable position.