REGISTERED NUMBER: |
Bob McCullagh Business Services Ltd |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
Bob McCullagh Business Services Ltd |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
Bob McCullagh Business Services Ltd (Registered number: NI603663) |
Contents of the Financial Statements |
for the Year Ended 31 July 2024 |
Page |
Company information | 1 |
Statement of financial position | 2 |
Notes to the financial statements | 3 | to | 5 |
Bob McCullagh Business Services Ltd |
Company Information |
for the Year Ended 31 July 2024 |
Director: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
Chartered Accountants |
Armagh Business Centre |
2 Loughgall Road |
Armagh |
BT61 7NH |
Bob McCullagh Business Services Ltd (Registered number: NI603663) |
Statement of Financial Position |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Property, plant and equipment | 4 |
Current assets |
Receivables | 5 |
Cash at bank |
Payables |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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 were approved by the director and authorised for issue on |
Bob McCullagh Business Services Ltd (Registered number: NI603663) |
Notes to the Financial Statements |
for the Year Ended 31 July 2024 |
1. | Statutory information |
Bob McCullagh Business Services Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment |
Fixtures and fittings | - |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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. |
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. |
Receivables |
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. |
Bob McCullagh Business Services Ltd (Registered number: NI603663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
2. | Accounting policies - continued |
Payables |
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Dividends |
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable. |
Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. There are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Property, plant and equipment |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 August 2023 |
and 31 July 2024 |
Depreciation |
At 1 August 2023 |
Charge for year |
At 31 July 2024 |
Net book value |
At 31 July 2024 |
At 31 July 2023 |
5. | Receivables: amounts falling |
due within one year |
2024 | 2023 |
£ | £ |
Trade receivables |
Other receivables |
Bob McCullagh Business Services Ltd (Registered number: NI603663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2024 |
6. | Payables: amounts falling |
due within one year |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other payables |
7. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 145 | 177 |
Deferred tax |
£ |
Balance at 1 August 2023 |
Credit to Statement of income and retained earnings during year | ( |
) |
Balance at 31 July 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary shares | £1 each | 100 | 100 |
9. | Director's advances, credits and guarantees |
The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
During the year, the company made a loan to the director. Interest was charged at the rate of 2.25%.The loan was part repaid in within 9 months of the year end. |