Acorah Software Products - Accounts Production 16.2.850 false true true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 NI635670 Mrs Adele Webster Mr Vivion Connolly iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI635670 2023-04-30 NI635670 2024-04-30 NI635670 2023-05-01 2024-04-30 NI635670 frs-core:CurrentFinancialInstruments 2024-04-30 NI635670 frs-core:Non-currentFinancialInstruments 2024-04-30 NI635670 frs-core:BetweenOneFiveYears 2024-04-30 NI635670 frs-core:FurnitureFittings 2024-04-30 NI635670 frs-core:FurnitureFittings 2023-05-01 2024-04-30 NI635670 frs-core:FurnitureFittings 2023-04-30 NI635670 frs-core:NetGoodwill 2024-04-30 NI635670 frs-core:NetGoodwill 2023-05-01 2024-04-30 NI635670 frs-core:NetGoodwill 2023-04-30 NI635670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-04-30 NI635670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-05-01 2024-04-30 NI635670 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-30 NI635670 frs-core:MotorVehicles 2024-04-30 NI635670 frs-core:MotorVehicles 2023-05-01 2024-04-30 NI635670 frs-core:MotorVehicles 2023-04-30 NI635670 frs-core:PlantMachinery 2024-04-30 NI635670 frs-core:PlantMachinery 2023-05-01 2024-04-30 NI635670 frs-core:PlantMachinery 2023-04-30 NI635670 frs-core:WithinOneYear 2024-04-30 NI635670 frs-core:ShareCapital 2024-04-30 NI635670 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI635670 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI635670 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 NI635670 frs-bus:SmallEntities 2023-05-01 2024-04-30 NI635670 frs-bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI635670 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI635670 frs-core:CostValuation 2023-04-30 NI635670 frs-core:AdditionsToInvestments 2024-04-30 NI635670 frs-core:CostValuation 2024-04-30 NI635670 frs-core:ProvisionsForImpairmentInvestments 2023-04-30 NI635670 frs-core:ProvisionsForImpairmentInvestments 2024-04-30 NI635670 frs-bus:Director1 2023-05-01 2024-04-30 NI635670 frs-bus:Director2 2023-05-01 2024-04-30 NI635670 frs-countries:NorthernIreland 2023-05-01 2024-04-30 NI635670 2022-04-30 NI635670 2023-04-30 NI635670 2022-05-01 2023-04-30 NI635670 frs-core:CurrentFinancialInstruments 2023-04-30 NI635670 frs-core:Non-currentFinancialInstruments 2023-04-30 NI635670 frs-core:BetweenOneFiveYears 2023-04-30 NI635670 frs-core:WithinOneYear 2023-04-30 NI635670 frs-core:ShareCapital 2023-04-30 NI635670 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: NI635670
Connollys Of Moy Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—8
Page 1
Accountants' Report
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to 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 directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 April 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 year.
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.
Signed
MARY MACKLE & CO
25/04/2025
Mary Mackle & Co
Chartered Accountants
73 Charlestown Road
Portadown
Craigavon
BT63 5PP
Page 1
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Balance Sheet
Registered number: NI635670
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 40,485 101,214
Tangible Assets 5 247,517 66,479
Investments 6 198,670 131,670
486,672 299,363
CURRENT ASSETS
Stocks 7 1,102,307 975,100
Debtors 8 28,278 175,277
Cash at bank and in hand 571,380 575,129
1,701,965 1,725,506
Creditors: Amounts Falling Due Within One Year 9 (643,910 ) (615,073 )
NET CURRENT ASSETS (LIABILITIES) 1,058,055 1,110,433
TOTAL ASSETS LESS CURRENT LIABILITIES 1,544,727 1,409,796
Creditors: Amounts Falling Due After More Than One Year 10 (171,126 ) (25,040 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (52,949 ) (12,630 )
NET ASSETS 1,320,652 1,372,126
CAPITAL AND RESERVES
Called up share capital 12 100 100
Profit and Loss Account 1,320,552 1,372,026
SHAREHOLDERS' FUNDS 1,320,652 1,372,126
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For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Vivion Connolly
Director
25/04/2025
The notes on pages 4 to 8 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Connollys Of Moy Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI635670 . The registered office is Ballycullen Road, Moy, Tyrone.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 20% RB
Plant & Machinery 20% SL
Motor Vehicles 25%RB
Fixtures & Fittings 20%SL
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 6 6
Sales, marketing and distribution 12 12
18 18
4. Intangible Assets
Goodwill
£
Cost
As at 1 May 2023 363,643
As at 30 April 2024 363,643
Amortisation
As at 1 May 2023 262,429
Provided during the period 60,729
As at 30 April 2024 323,158
Net Book Value
As at 30 April 2024 40,485
As at 1 May 2023 101,214
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 May 2023 10,170 26,197 88,080 67,327 191,774
Additions - 425 217,083 1,699 219,207
As at 30 April 2024 10,170 26,622 305,163 69,026 410,981
Depreciation
As at 1 May 2023 9,811 24,683 42,659 48,142 125,295
Provided during the period 359 303 33,330 4,177 38,169
As at 30 April 2024 10,170 24,986 75,989 52,319 163,464
Net Book Value
As at 30 April 2024 - 1,636 229,174 16,707 247,517
As at 1 May 2023 359 1,514 45,421 19,185 66,479
6. Investments
Other
£
Cost
As at 1 May 2023 131,670
Additions 67,000
As at 30 April 2024 198,670
Provision
As at 1 May 2023 -
As at 30 April 2024 -
Net Book Value
As at 30 April 2024 198,670
As at 1 May 2023 131,670
7. Stocks
2024 2023
£ £
Finished goods 1,102,307 975,100
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8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 4,359 14,627
Prepayments and accrued income 2,800 -
Other debtors - 42,558
Directors' loan accounts 21,119 118,092
28,278 175,277
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 20,637 4,829
Trade creditors 380,364 315,526
Bank loans and overdrafts 9,885 9,885
Corporation tax 53,359 99,898
Other taxes and social security 52,662 15,561
VAT 84,192 109,137
Net wages 10,306 9,286
Accruals and deferred income 23,719 17,319
Amounts owed to related parties 8,786 33,632
643,910 615,073
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 159,344 3,620
Bank loans 11,782 21,420
171,126 25,040
11. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 20,637 4,829
Later than one year and not later than five years 159,344 3,620
179,981 8,449
179,981 8,449
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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13. Related Party Transactions
Connollys Media LtdShared directorPurchase of services to the value of £160,550 (2023: £153,400). Year end net creditor balance of £8,782 (2023: £33,632) disclosed in creditors note.

Connollys Media Ltd

Shared director

Purchase of services to the value of £160,550 (2023: £153,400). Year end net creditor balance of £8,782 (2023: £33,632) disclosed in creditors note.

Connollys of Moy (Outlet Stores) LtdShared DirectorSale of goods of £290,597 no balance was due at year end.

Connollys of Moy (Outlet Stores) Ltd

Shared Director

Sale of goods of £290,597 no balance was due at year end.

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