BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 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 the manufacture, wholesale and retail of bread and pastries. 20 June 2025 68 87 NI028733 2024-09-30 NI028733 2023-09-30 NI028733 2022-09-30 NI028733 2023-10-01 2024-09-30 NI028733 2022-10-01 2023-09-30 NI028733 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI028733 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI028733 uk-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI028733 uk-bus:AbridgedAccounts 2023-10-01 2024-09-30 NI028733 uk-bus:Director1 2023-10-01 2024-09-30 NI028733 uk-bus:Director2 2023-10-01 2024-09-30 NI028733 uk-bus:RegisteredOffice 2023-10-01 2024-09-30 NI028733 uk-bus:Agent1 2023-10-01 2024-09-30 NI028733 uk-core:ShareCapital 2024-09-30 NI028733 uk-core:ShareCapital 2023-09-30 NI028733 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI028733 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI028733 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI028733 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI028733 uk-bus:FRS102 2023-10-01 2024-09-30 NI028733 uk-core:LandBuildings 2023-10-01 2024-09-30 NI028733 uk-core:Land 2023-10-01 2024-09-30 NI028733 uk-core:PlantMachinery 2023-10-01 2024-09-30 NI028733 uk-core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 NI028733 uk-core:MotorVehicles 2023-10-01 2024-09-30 NI028733 2023-10-01 2024-09-30 NI028733 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
Cardona Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 September 2024



Cardona Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Hugh Boyle
Hugh Boyle (Jnr)
 
 
Company Registration Number NI028733
 
 
Registered Office and Business Address 67 - 69 Hill Street
Newry
Co. Down
BT34 1DG
Northern Ireland
 
 
Accountants John MacMahon & Co
Chartered Accountants
112 Camlough Road
Newry
Co. Down
BT35 7EE
Northern Ireland



Cardona Limited
Company Registration Number: NI028733
ABRIDGED BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 1,965,890 2,013,724
───────── ─────────
 
Current Assets
Stocks 247,675 231,946
Debtors 1,433,163 1,397,201
Cash and cash equivalents 1,975,305 1,353,965
───────── ─────────
3,656,143 2,983,112
───────── ─────────
Creditors: amounts falling due within one year (381,331) (317,186)
───────── ─────────
Net Current Assets 3,274,812 2,665,926
───────── ─────────
Total Assets less Current Liabilities 5,240,702 4,679,650
 
Creditors:
amounts falling due after more than one year - (124,762)
 
Provisions for liabilities (70,876) (42,775)
 
Government grants (13,628) (16,354)
───────── ─────────
Net Assets 5,156,198 4,495,759
═════════ ═════════
 
Capital and Reserves
Called up share capital 500,100 100
Retained earnings 4,656,098 4,495,659
───────── ─────────
Shareholders' Funds 5,156,198 4,495,759
═════════ ═════════
 
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 30 September 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 20 June 2025 and signed on its behalf by
           
           
________________________________          
Hugh Boyle (Jnr)          
Director          
           



Cardona Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Cardona Limited is a private company limited by shares incorporated in the Northern Ireland  The registered office address is 67 - 69 Hill Street, Newry, Co. Down, BT34 1DG, which is also the principal place of business of the company. The company registration number is NI028733.

The financial statements cover the individual entity, Cardona Limited for the financial year ended 30 September 2024.

The financial statements are presented in Pound Sterling (£) which is also the functional currency of the company.
         
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 30 September 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 total value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
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:
 
  Land and buildings freehold - 4% Straight line
  Improvements - 4% Straight line
  Office equiptment - 20% Straight Line
  Fixtures, fittings and equipment - 15% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
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.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred 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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
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.
 
Pensions
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.
 
Share capital of the company
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Preference share capital
The dividend rights of the preference shares are non-cumulative and payment is at the discretion of the company. The preference shares carry voting rights at meetings. Based on their characteristics the preference shares are considered to be presented as equity and not liabilities. There is no option to redeem the preference shares.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 68 87
  ═════════ ═════════

                 
4. Tangible assets
  Land and Investment Improvements Office Fixtures, Motor Total
  buildings properties   equiptment fittings and vehicles  
  freehold       equipment    
  £ £ £ £ £ £ £
Cost
At 1 October 2023 1,200,110 933,000 882,161 74,648 1,386,510 145,835 4,622,264
Additions - - - 867 77,366 - 78,233
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
At 30 September 2024 1,200,110 933,000 882,161 75,515 1,463,876 145,835 4,700,497
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 October 2023 704,145 - 558,051 67,942 1,185,595 92,807 2,608,540
Charge for the financial year 48,004 - 33,485 2,860 31,173 10,545 126,067
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
At 30 September 2024 752,149 - 591,536 70,802 1,216,768 103,352 2,734,607
  ───────── ───────── ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 September 2024 447,961 933,000 290,625 4,713 247,108 42,483 1,965,890
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
At 30 September 2023 495,965 933,000 324,110 6,706 200,915 53,028 2,013,724
  ═════════ ═════════ ═════════ ═════════ ═════════ ═════════ ═════════
 
Investment properties are carried at fair value at the balance sheet date as determined by the director of the company.  Fair value was determined based on a 10 year rental value for each property.

   
5. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.
       
6. Pension Commitments
 
The company operates a defined contribution pension scheme for its employees.  The assets of the scheme are held separately from those of the company in an independently administered fund.  At the balance sheet date, there was an outstanding liability of £10,768 due to the fund.  This is included in creditors amounts falling due within one year.
       
7. Related parties
 
At the balance sheet date the following amounts were due from companies under common control of the directors and shareholders of Cardona Limited:
Shelbourne Financial Solutions Ltd: £330,661
Casino Palace Ltd: £272,176
Shelbourne Properties Newry Ltd: £797,417