0
false
false
false
false
false
false
false
false
false
false
true
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No description of principal activity
2023-03-30
Sage Accounts Production Advanced 2024 - FRS102_2024
31,608
25,722
8,458
17,264
14,344
5,886
xbrli:pure
xbrli:shares
iso4217:GBP
NI626740
2023-03-30
2024-03-29
NI626740
2024-03-29
NI626740
2023-03-29
NI626740
2022-04-01
2023-03-29
NI626740
2023-03-29
NI626740
2022-03-31
NI626740
core:FurnitureFittings
2023-03-30
2024-03-29
NI626740
core:MotorVehicles
2023-03-30
2024-03-29
NI626740
bus:OrdinaryShareClass1
2023-03-30
2024-03-29
NI626740
bus:Director1
2023-03-30
2024-03-29
NI626740
core:FurnitureFittings
2023-03-29
NI626740
core:MotorVehicles
2023-03-29
NI626740
core:FurnitureFittings
2024-03-29
NI626740
core:MotorVehicles
2024-03-29
NI626740
core:WithinOneYear
2024-03-29
NI626740
core:WithinOneYear
2023-03-29
NI626740
core:AfterOneYear
2024-03-29
NI626740
core:AfterOneYear
2023-03-29
NI626740
bus:OrdinaryShareClass1
2022-04-01
2023-03-29
NI626740
core:ShareCapital
2024-03-29
NI626740
core:ShareCapital
2023-03-29
NI626740
core:RetainedEarningsAccumulatedLosses
2024-03-29
NI626740
core:RetainedEarningsAccumulatedLosses
2023-03-29
NI626740
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-29
NI626740
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2023-03-29
NI626740
core:FurtherSpecificIncreaseDecreaseInProvisionsForImpairmentInvestments1ComponentCorrespondingTotal
core:Non-currentFinancialInstruments
2024-03-29
NI626740
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2024-03-29
NI626740
core:Non-currentFinancialInstruments
2024-03-29
NI626740
core:Non-currentFinancialInstruments
2023-03-29
NI626740
core:FurnitureFittings
2023-03-29
NI626740
core:MotorVehicles
2023-03-29
NI626740
bus:SmallEntities
2023-03-30
2024-03-29
NI626740
bus:AuditExemptWithAccountantsReport
2023-03-30
2024-03-29
NI626740
bus:SmallCompaniesRegimeForAccounts
2023-03-30
2024-03-29
NI626740
bus:PrivateLimitedCompanyLtd
2023-03-30
2024-03-29
NI626740
bus:FullAccounts
2023-03-30
2024-03-29
NI626740
bus:OrdinaryShareClass1
2024-03-29
NI626740
bus:OrdinaryShareClass1
2023-03-29
COMPANY REGISTRATION NUMBER:
NI626740
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
29 March 2024
Fixed assets
Tangible assets |
5 |
|
10,552 |
11,301 |
Investments |
6 |
|
14,344 |
5,886 |
|
|
-------- |
-------- |
|
|
24,896 |
17,187 |
|
|
|
|
|
Current assets
Debtors |
7 |
229,951 |
|
258,292 |
Cash at bank and in hand |
53,808 |
|
80,632 |
|
--------- |
|
--------- |
|
283,759 |
|
338,924 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
81,973 |
|
99,972 |
|
--------- |
|
--------- |
Net current assets |
|
201,786 |
238,952 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
226,682 |
256,139 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
30,069 |
38,328 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
468 |
468 |
|
|
--------- |
--------- |
Net assets |
|
196,145 |
217,343 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
10 |
|
110 |
110 |
Profit and loss account |
|
196,035 |
217,233 |
|
|
--------- |
--------- |
Shareholders funds |
|
196,145 |
217,343 |
|
|
--------- |
--------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
29 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 March 2025
, and are signed on behalf of the board by:
Company registration number:
NI626740
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 29 MARCH 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is C/o Flannigan Edmonds Bannon, Linenhall Street, First Floor, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
(b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & fittings |
- |
20% straight line |
|
Motor vehicles |
- |
20% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Dividends
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):
|
2024 |
2023 |
|
£ |
£ |
Dividends on equity shares |
50,000 |
50,000 |
|
-------- |
-------- |
|
|
|
5.
Tangible assets
|
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 30 March 2023 |
6,475 |
19,391 |
25,866 |
Additions |
4,326 |
– |
4,326 |
|
-------- |
-------- |
-------- |
At 29 March 2024 |
10,801 |
19,391 |
30,192 |
|
-------- |
-------- |
-------- |
Depreciation |
|
|
|
At 30 March 2023 |
4,546 |
10,019 |
14,565 |
Charge for the year |
1,197 |
3,878 |
5,075 |
|
-------- |
-------- |
-------- |
At 29 March 2024 |
5,743 |
13,897 |
19,640 |
|
-------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 29 March 2024 |
5,058 |
5,494 |
10,552 |
|
-------- |
-------- |
-------- |
At 29 March 2023 |
1,929 |
9,372 |
11,301 |
|
-------- |
-------- |
-------- |
|
|
|
|
6.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 30 March 2023 and 29 March 2024 |
31,608 |
|
-------- |
Impairment |
|
At 30 March 2023 |
25,722 |
Revaluations |
(
8,458) |
|
-------- |
At 29 March 2024 |
17,264 |
|
-------- |
|
|
Carrying amount |
|
At 29 March 2024 |
14,344 |
|
-------- |
At 29 March 2023 |
5,886 |
|
-------- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
2,400 |
– |
Amounts owed by group undertakings |
124,981 |
124,981 |
Other debtors |
102,570 |
133,311 |
|
--------- |
--------- |
|
229,951 |
258,292 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
5,384 |
5,251 |
Trade creditors |
1,980 |
2,080 |
Corporation tax |
17,961 |
13,112 |
Social security and other taxes |
11,260 |
5,156 |
Other creditors |
45,388 |
74,373 |
|
-------- |
-------- |
|
81,973 |
99,972 |
|
-------- |
-------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
30,069 |
35,454 |
Other creditors |
– |
2,874 |
|
-------- |
-------- |
|
30,069 |
38,328 |
|
-------- |
-------- |
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
110 |
110 |
110 |
110 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
11.
Related party transactions
, The company was under the control of
Mr S Saab
throughout the current and previous period. Mr S Saab
is the sole director and shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.