COMPANY REGISTRATION NUMBER:
NI666200
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
4 |
1,887 |
2,543 |
|
|
|
|
Current assets
|
Stocks |
37,586 |
24,464 |
|
Debtors |
5 |
15,036 |
25,960 |
|
Cash at bank and in hand |
33,639 |
80,781 |
|
-------- |
--------- |
|
86,261 |
131,205 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
38,740 |
96,332 |
|
-------- |
--------- |
|
Net current assets |
47,521 |
34,873 |
|
-------- |
-------- |
|
Total assets less current liabilities |
49,408 |
37,416 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
472 |
483 |
|
-------- |
-------- |
|
Net assets |
48,936 |
36,933 |
|
-------- |
-------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
48,836 |
36,833 |
|
-------- |
-------- |
|
Shareholders funds |
48,936 |
36,933 |
|
-------- |
-------- |
|
|
|
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 income statement has not been delivered.
For the year ending 31 December 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) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
2 May 2025
, and are signed on behalf of the board by:
Company registration number:
NI666200
|
Notes to the Financial Statements |
|
Year ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 73 Clarendon Street, Derry-Londonderry, Northern Ireland, BT48 7ER. The principal activity of the company during the year was tax consultancy services.
2.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
|
Equipment |
- |
20% straight line |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
4.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
3,278 |
|
------- |
|
Depreciation |
|
|
At 1 January 2024 |
735 |
|
Charge for the year |
656 |
|
------- |
|
At 31 December 2024 |
1,391 |
|
------- |
|
Carrying amount |
|
|
At 31 December 2024 |
1,887 |
|
------- |
|
At 31 December 2023 |
2,543 |
|
------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
12,086 |
23,344 |
|
Other debtors |
2,950 |
2,616 |
|
-------- |
-------- |
|
15,036 |
25,960 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
1,616 |
2,563 |
|
Social security and other taxes |
19,509 |
15,407 |
|
Other creditors |
17,615 |
78,362 |
|
-------- |
-------- |
|
38,740 |
96,332 |
|
-------- |
-------- |
|
|
|
7.
Director's advances, credits and guarantees
During the year a director provided loans to the company totalling £48,194 which includes interest charged at 8% of £2,344. Cash withdrawn and personal expenses paid by the company on behalf of the director totalled £109,551. The balance owed to the director at 31 December 2024 was £15,501. (2023: £76,858)