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REGISTERED NUMBER: NI622131 (Northern Ireland)












Cromore Halt Inn Ltd

Unaudited Financial Statements for the Year Ended 31st January 2025






Cromore Halt Inn Ltd (Registered number: NI622131)






Contents of the Financial Statements
for the year ended 31st January 2025




Page

Balance sheet 1

Notes to the financial statements 2


Cromore Halt Inn Ltd (Registered number: NI622131)

Balance Sheet
31st January 2025

2025 2024
Notes £    £   
Fixed assets
Intangible assets 4 - -
Tangible assets 5 12,915 17,810
12,915 17,810

Current assets
Stocks 6 9,183 6,236
Cash at bank and in hand 189,083 204,251
198,266 210,487
Creditors
Amounts falling due within one year 7 (67,380 ) (59,699 )
Net current assets 130,886 150,788
Total assets less current liabilities 143,801 168,598

Capital and reserves
Called up share capital 8 2 2
Retained earnings 9 143,799 168,596
Shareholders' funds 143,801 168,598

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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 29th May 2025 and were signed on its behalf by:




Mrs K C Lafferty - Director


Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements
for the year ended 31st January 2025

1. Statutory information

Cromore Halt Inn Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address are as below:

Registered number: NI622131

Registered office: 158 Station Road
Portstewart
Co. Londonderry
BT55 7PU

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

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

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 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

2. Accounting policies - continued

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legal enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year 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.


Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

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 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.

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.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the
ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

2. Accounting policies - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

3. Employees and directors

The average number of employees during the year was 24 (2024 - 24 ) .

4. Intangible fixed assets
Goodwill
£   
Cost
At 1st February 2024
and 31st January 2025 40,000
Amortisation
At 1st February 2024
and 31st January 2025 40,000
Net book value
At 31st January 2025 -
At 31st January 2024 -

Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

5. Tangible fixed assets
Fixtures
and
fittings
£   
Cost
At 1st February 2024
and 31st January 2025 91,919
Depreciation
At 1st February 2024 74,109
Charge for year 4,895
At 31st January 2025 79,004
Net book value
At 31st January 2025 12,915
At 31st January 2024 17,810

6. Stocks
2025 2024
£    £   
Finished goods 9,183 6,236

7. Creditors: amounts falling due within one year
2025 2024
£    £   
Trade creditors 22,949 19,650
Social security and other taxes 2,159 2,397
Pension commitments 517 530
VAT 22,583 19,833
Other creditors 8,354 4,678
Directors' current accounts 1,068 4,197
Accrued expenses 9,750 8,414
67,380 59,699

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
2 Ordinary £1 2 2

Cromore Halt Inn Ltd (Registered number: NI622131)

Notes to the Financial Statements - continued
for the year ended 31st January 2025

9. Reserves
Retained
earnings
£   

At 1st February 2024 168,596
Deficit for the year (6,797 )
Dividends (18,000 )
At 31st January 2025 143,799

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31st January 2025 and 31st January 2024:

2025 2024
£    £   
Mr M A Lafferty and Mrs K C Lafferty
Balance outstanding at start of year (1,661 ) (3,656 )
Amounts advanced 11,070 11,277
Amounts repaid (10,012 ) (9,282 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (603 ) (1,661 )

Mrs K C Lafferty and Mr M A Lafferty
Balance outstanding at start of year (2,536 ) (3,656 )
Amounts advanced 11,070 10,120
Amounts repaid (9,000 ) (9,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (466 ) (2,536 )