2024-01-01 NI050830 2024-12-31 NI050830 2024-01-01 2024-12-31 NI050830 2023-12-31 NI050830 2023-01-01 2023-12-31 NI050830 uk-core:WithinOneYear 2023-12-31 NI050830 uk-core:WithinOneYear 2024-12-31 NI050830 uk-core:AfterOneYear 2023-12-31 NI050830 uk-core:AfterOneYear 2024-12-31 NI050830 uk-core:ShareCapital 2024-12-31 NI050830 uk-core:ShareCapital 2023-12-31 NI050830 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI050830 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI050830 uk-bus:Director1 2024-01-01 2024-12-31 NI050830 uk-core:PlantMachinery 2024-01-01 2024-12-31 NI050830 uk-core:ComputerEquipment 2024-01-01 2024-12-31 NI050830 uk-core:CommercialMotorVehicles 2024-01-01 2024-12-31 NI050830 uk-core:FurnitureFittings 2024-01-01 2024-12-31 NI050830 uk-core:ComputerEquipment 2023-12-31 NI050830 uk-core:FurnitureFittings 2023-12-31 NI050830 uk-core:CommercialMotorVehicles 2023-12-31 NI050830 uk-core:PlantMachinery 2023-12-31 NI050830 uk-core:CommercialMotorVehicles 2024-12-31 NI050830 uk-core:FurnitureFittings 2024-12-31 NI050830 uk-core:ComputerEquipment 2024-12-31 NI050830 uk-core:PlantMachinery 2024-12-31 NI050830 uk-core:WithinOneYear 2024-12-31 NI050830 uk-core:WithinOneYear 2023-12-31 NI050830 uk-core:AfterOneYear uk-core:Secured 2024-12-31 NI050830 uk-core:AfterOneYear uk-core:Secured 2023-12-31 iso4217:GBP xbrli:pure NI050830 uk-bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 NI050830 uk-bus:FRS102 2024-01-01 2024-12-31 NI050830 uk-bus:FilletedAccounts 2024-01-01 2024-12-31 NI050830 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31
Iron Designs (Armagh) Limited
Registered Number:NI050830
For the year ended 31 December 2024
Northern Ireland
Unaudited Financial Statements
2
For the year ended 31 December 2024
Iron Designs (Armagh) Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
NI050830
As at 31 December 2024
Iron Designs (Armagh) Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
89,718
97,453
2
89,718
97,453
Current assets
Inventories
77,186
126,271
3
Trade and other receivables
34,068
20,530
4
200
Cash and cash equivalents
200
147,001
111,454
Trade and other payables: amounts falling due within one
year
(99,016)
(148,540)
5
12,438
(1,539)
Net current liabilities
Total assets less current liabilities
88,179
109,891
Trade and other payables: amounts falling due after more
than one year
(25,777)
(18,994)
6
69,185
Net assets
84,114
Capital and reserves
Called up share capital
20,002
20,002
Retained earnings
49,183
64,112
69,185
84,114
Shareholders' funds
For the year ended 31 December 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Paul McKeown Director
These financial statements were approved and authorised for issue by the Board on 20 June 2025 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 December 2024
Iron Designs (Armagh) Limited
Notes to the Financial Statements
Statutory Information
Iron Designs (Armagh) Limited is a private limited company, limited by shares, domiciled in Northern Ireland,
registration number NI050830.
Registered address:
80 Drumahean Road
Middletown
Armagh
BT60 3QG
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery
10 Reducing balance
20 Reducing balance
Computer Equipment
25 Reducing balance
Motor Vehicles
20 Reducing balance
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
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5
For the year ended 31 December 2024
Iron Designs (Armagh) Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Computer
Equipment
Furniture and
Fittings
Motor
Vehicles
Plant and
Machinery
£
£
£
£
£
Cost or
valuation
At 01 January 2024
260,259
10,804
10,710
72,232
166,513
4,268
350
-
-
3,918
Additions
At 31 December 2024
72,232
10,710
11,154
264,527
170,431
Provision for depreciation and impairment
At 01 January 2024
162,806
8,589
8,861
58,342
87,014
Charge for year
12,003
513
370
2,778
8,342
At 31 December 2024
174,809
9,102
9,231
61,120
95,356
At 31 December 2024
Net book value
75,075
11,112
1,479
2,052
89,718
At 31 December 2023
79,499
13,890
1,849
2,215
97,453
3. Inventories
2023
2024
£
£
Stocks
126,271
77,186
4. Trade and other receivables
2023
2024
£
£
Trade debtors
20,530
34,068
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
27,978
17,302
Trade creditors
29,563
41,261
Taxation and social security
7,505
5,364
Other creditors
83,494
35,089
148,540
99,016
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6
For the year ended 31 December 2024
Iron Designs (Armagh) Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
18,994
25,777
7. Average number of persons employed
During the year the average number of employees was 7 (2023 : 8)
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