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Registration number: NI710794

GJM Retail Consulting Ltd

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

GJM Retail Consulting Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

GJM Retail Consulting Ltd

Company Information

Director

Gregory Murtagh

Registered office

52 Limestone Meadows
Moira
Craigavon
Armagh
BT67 0UT

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

GJM Retail Consulting Ltd

(Registration number: NI710794)
Balance Sheet as at 28 February 2025

Note

2025
£

Fixed assets

 

Intangible assets

4

5,000

Tangible assets

5

16,655

 

21,655

Current assets

 

Debtors

6

53,016

Cash at bank and in hand

 

735

 

53,751

Creditors: Amounts falling due within one year

7

(32,141)

Net current assets

 

21,610

Total assets less current liabilities

 

43,265

Creditors: Amounts falling due after more than one year

7

(11,790)

Provisions for liabilities

(3,165)

Net assets

 

28,310

Capital and reserves

 

Called up share capital

8

100

Retained earnings

28,210

Shareholders' funds

 

28,310

For the financial year ending 28 February 2025 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 accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 June 2025
 

.........................................
Gregory Murtagh
Director

   
     
 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
52 Limestone Meadows
Moira
Craigavon
Armagh
BT67 0UT

These financial statements were authorised for issue by the director on 11 June 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

Motor Vehicles

20% Reducing Balanace

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.

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

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2.

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

Additions acquired separately

5,000

5,000

At 28 February 2025

5,000

5,000

Amortisation

Carrying amount

At 28 February 2025

5,000

5,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

1,567

19,350

20,917

At 28 February 2025

1,567

19,350

20,917

Depreciation

Charge for the year

392

3,870

4,262

At 28 February 2025

392

3,870

4,262

Carrying amount

At 28 February 2025

1,175

15,480

16,655

6

Debtors

Current

2025
£

Trade debtors

52,800

Prepayments

116

Other debtors

100

 

53,016

7

Creditors

Creditors: amounts falling due within one year

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Note

2025
£

Due within one year

 

Loans and borrowings

9

3,265

Trade creditors

 

336

Taxation and social security

 

27,178

Accruals and deferred income

 

1,200

Other creditors

 

162

 

32,141

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Creditors: amounts falling due after more than one year

Note

2025
£

Due after one year

 

Loans and borrowings

9

11,790

8

Share capital

Allotted, called up and fully paid shares

2025

No.

£

Ordinary Share of £1 each

100

100

   

9

Loans and borrowings

Non-current loans and borrowings

2025
£

Hire purchase contracts

11,790

Current loans and borrowings

2025
£

Hire purchase contracts

3,265

10

Dividends

Interim dividends paid

2025
£

Interim dividend of £330.00 per each Ordinary Share

33,000

 

11

Related party transactions

 

GJM Retail Consulting Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

Remuneration

10,475

Dividends paid to the director

2025
£

Gregory Murtagh

Dividends issued at 28.02.2025

33,000

 

Loans to related parties

2025

Key management
£

Total
£

Advanced

59,378

59,378

Repaid

(59,237)

(59,237)

At end of period

141

141