| Iron Designs (Armagh) Limited |
| Registered Number:NI050830 |
For the year ended 31 December 2024
Northern Ireland
Unaudited Financial Statements
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
Iron Designs (Armagh) Limited
Statement of Financial Position
2023
2024
| Property, plant and equipment |
89,718
97,453
2
89,718
97,453
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
20,002
20,002
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. |
| 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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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. |
80 Drumahean Road
Middletown
Armagh
BT60 3QG
| The presentation currency is £ sterling. |
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
Computer Equipment
Motor Vehicles
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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For the year ended 31 December 2024
Iron Designs (Armagh) Limited
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
260,259
10,804
10,710
72,232
166,513
4,268
350
-
-
3,918
72,232
10,710
11,154
264,527
170,431
| Provision for depreciation and impairment |
162,806
8,589
8,861
58,342
87,014
Charge for year
12,003
513
370
2,778
8,342
174,809
9,102
9,231
61,120
95,356
75,075
11,112
1,479
2,052
89,718
79,499
13,890
1,849
2,215
97,453
2023
2024
126,271
77,186
| 4. Trade and other receivables |
2023
2024
20,530
34,068
| 5. Trade and other payables: amounts falling due within one year |
2023
2024
27,978
17,302
29,563
41,261
| Taxation and social security |
7,505
5,364
83,494
35,089
148,540
99,016
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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
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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