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REGISTERED NUMBER: NI601451 (Northern Ireland)













A & C COMPONENTS LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2024 TO 17 OCTOBER 2024






A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


A & C COMPONENTS LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024







DIRECTORS: Mr T O'Brien
Mrs B O'Brien



REGISTERED OFFICE: Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



REGISTERED NUMBER: NI601451 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
Business Banking
PO Box 183
Donegall Square West
BELFAST
BT1 6JS



BANKERS: Bank of Ireland
Main Street
Ballybofey
Co Donegal

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
A & C COMPONENTS 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 Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors 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 period ended 17 October 2024 which comprise the Income Statement, Balance Sheet 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 Balance Sheet as at 17 October 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 period.

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.






McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


27 March 2025

A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

BALANCE SHEET
17 OCTOBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,750 62,688
8,750 62,688

CURRENT ASSETS
Stocks - 148,000
Debtors 6 1,238,812 330,331
Cash at bank and in hand 208,005 1,210,217
1,446,817 1,688,548
CREDITORS
Amounts falling due within one year 7 25,665 291,719
NET CURRENT ASSETS 1,421,152 1,396,829
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,429,902

1,459,517

CREDITORS
Amounts falling due after more than one
year

8

-

(129,987

)

PROVISIONS FOR LIABILITIES - (16,612 )
NET ASSETS 1,429,902 1,312,918

A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

BALANCE SHEET - continued
17 OCTOBER 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,429,702 1,312,718
SHAREHOLDERS' FUNDS 1,429,902 1,312,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 17 October 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 17 October 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





Mr T O'Brien - Director


A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024

1. STATUTORY INFORMATION

A & C Components 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. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 for the first time. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery - 15% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value.

Taxation
Taxation for the period comprises current and deferred 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 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.


A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
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 period 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 average rate of exchange for the period the accounts relate to . Exchange differences are recognised in the profit & loss account.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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 transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 4 ) .

A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024 500,000
Disposals (500,000 )
At 17 October 2024 -
AMORTISATION
At 1 January 2024 500,000
Eliminated on disposal (500,000 )
At 17 October 2024 -
NET BOOK VALUE
At 17 October 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Plant &
machinery
£   
COST
At 1 January 2024 125,688
Disposals (77,188 )
At 17 October 2024 48,500
DEPRECIATION
At 1 January 2024 63,000
Charge for period 25,200
Eliminated on disposal (48,450 )
At 17 October 2024 39,750
NET BOOK VALUE
At 17 October 2024 8,750
At 31 December 2023 62,688

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,633 316,810
Other debtors 1,224,179 13,521
1,238,812 330,331

A & C COMPONENTS LTD (REGISTERED NUMBER: NI601451)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2024 TO 17 OCTOBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 11,420 230,674
Taxation and social security - 36,445
Other creditors 14,245 24,600
25,665 291,719

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors - 129,987

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors' loan - 129,987

9. RELATED PARTY DISCLOSURES

At 31 December 2023, the company owed members of key personnel £129,987. This is presented within creditors: amounts falling due after more than one year.

At 17 October 2024, members of key personnel owed the company £1,005,772. This is presented within other debtors: amounts falling due within one year.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are Mr T O'Brien & Mrs B O'Brien.