BrightAccountsProduction v1.0.0 v1.0.0 2023-09-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is as a solicitors practice. 27 May 2025 10 11 NI615164 2024-08-31 NI615164 2023-08-31 NI615164 2022-08-31 NI615164 2023-09-01 2024-08-31 NI615164 2022-09-01 2023-08-31 NI615164 uk-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI615164 uk-curr:PoundSterling 2023-09-01 2024-08-31 NI615164 uk-bus:AbridgedAccounts 2023-09-01 2024-08-31 NI615164 uk-core:ShareCapital 2024-08-31 NI615164 uk-core:ShareCapital 2023-08-31 NI615164 uk-core:RetainedEarningsAccumulatedLosses 2024-08-31 NI615164 uk-core:RetainedEarningsAccumulatedLosses 2023-08-31 NI615164 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-08-31 NI615164 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-08-31 NI615164 uk-bus:FRS102 2023-09-01 2024-08-31 NI615164 uk-core:Goodwill 2023-09-01 2024-08-31 NI615164 uk-core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 NI615164 uk-core:Goodwill 2023-08-31 NI615164 uk-core:Goodwill 2024-08-31 NI615164 2023-09-01 2024-08-31 NI615164 uk-bus:Director1 2023-09-01 2024-08-31 NI615164 uk-bus:Director2 2023-09-01 2024-08-31 NI615164 uk-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Fitzsimons Mallon Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 August 2024



Fitzsimons Mallon Limited
Company Registration Number: NI615164
ABRIDGED BALANCE SHEET
as at 31 August 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 - 10,000
Tangible assets 5 12,774 11,791
───────── ─────────
Fixed Assets 12,774 21,791
───────── ─────────
 
Current Assets
Stocks 233,778 252,892
Debtors 261,595 215,522
Cash and cash equivalents 944,082 1,658,064
───────── ─────────
1,439,455 2,126,478
───────── ─────────
Creditors: amounts falling due within one year (1,206,180) (1,776,830)
───────── ─────────
Net Current Assets 233,275 349,648
───────── ─────────
Total Assets less Current Liabilities 246,049 371,439
 
Creditors:
amounts falling due after more than one year (30,869) (36,061)
───────── ─────────
Net Assets 215,180 335,378
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 215,080 335,278
───────── ─────────
Shareholders' Funds 215,180 335,378
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 27 May 2025 and signed on its behalf by
           
           
________________________________     ________________________________
Paul Gerard Fitzsimons     Stephen Martin Mallon
Director     Director
           



Fitzsimons Mallon Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 August 2024

   
1. General Information
 
Fitzsimons Mallon Limited is a private company limited by shares incorporated in Northern Ireland. 6 John Mitchel Place, Newry, Co. Down, BT34 2BP, Northern Ireland is the registered office, which is also the principal place of business of the company. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company. The Companies Registration Number is NI615164.

These financial statements are for the individual entity Fitzsimons Mallon Limited for the year end 31 August 2024.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 August 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of services supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. Due to the client profile of the practice, amortisation over ten years was deemed most appropriate by the directors. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the Abridged Balance Sheet bank overdrafts are shown within Creditors.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2024 2023
  Number Number
 
Staff 10 11
  ═════════ ═════════
     
4. Intangible assets
   
  Goodwill
  £
Cost
At 1 September 2023 100,000
  ─────────
 
At 31 August 2024 100,000
  ─────────
Amortisation
At 1 September 2023 90,000
Charge for financial year 10,000
  ─────────
At 31 August 2024 100,000
  ─────────
Net book value
At 31 August 2024 -
  ═════════
At 31 August 2023 10,000
  ═════════
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost or Valuation
At 1 September 2023 44,782 44,782
Additions 5,383 5,383
  ───────── ─────────
At 31 August 2024 50,165 50,165
  ───────── ─────────
Depreciation
At 1 September 2023 32,991 32,991
Charge for the financial year 4,400 4,400
  ───────── ─────────
At 31 August 2024 37,391 37,391
  ───────── ─────────
Net book value
At 31 August 2024 12,774 12,774
  ═════════ ═════════
At 31 August 2023 11,791 11,791
  ═════════ ═════════
       
6. Financial commitments
 
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable to the company's pension scheme are charged to the Profit and Loss Account in the period to which they relate. The total pension contributions due to the fund at year end 31st August 2024 are £1,084. (2023 - £1,102). These are included in creditors: amounts falling due within one year.
       
7. Security given over creditors
 
A mortgage debenture incorporating a fixed and floating charge over the assets has been provided on debts totalling £179,615 in the financial year end 31st August 2024 (2023:£187,714).