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Company Registration Number: NI012000
 
 
Russell's (Frozen Foods) Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 30 September 2024
Russell's (Frozen Foods) Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Dominic Fagan
Ms. Teresa Harhen
 
 
Company Secretary Mr. Dominic Fagan
 
 
Company Registration Number NI012000
 
 
Registered Office Sentinel House
13 Pump Street Derry
BT 48 6JG
Northern Ireland
 
 
Accountants MCI Chartered Accountants
Sentinel House
13 Pump Street
Derry
BT48 6JG



Russell's (Frozen Foods) Limited
DIRECTORS' REPORT
for the financial year ended 30 September 2024

 
The directors present their report and the unaudited financial statements for the financial year ended 30 September 2024.
     
Directors
The directors who served during the financial year are as follows:
     
Mr. Dominic Fagan
Ms. Teresa Harhen
   
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Mr. Dominic Fagan
Director
     
20 June 2025



Russell's (Frozen Foods) Limited
STATEMENT OF DIRECTORS' RESPONSIBILITIES
for the financial year ended 30 September 2024

 
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
select suitable accounting policies and apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
 
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
     
On behalf of the board
     
     
___________________________
Mr. Dominic Fagan
Director
     
20 June 2025



Russell's (Frozen Foods) Limited

ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Russell's (Frozen Foods) Limited
for the financial year ended 30 September 2024
 
In accordance with the engagement letter dated 26 June 2023 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 30 September 2024 as set out on pages 7 to 10 which comprise the Statement of Income and Retained Earnings, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Russell's (Frozen Foods) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Balance Sheet for the year ended 30 September 2024 your duty to ensure that Russell's (Frozen Foods) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Russell's (Frozen Foods) Limited. You consider that Russell's (Frozen Foods) Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Russell's (Frozen Foods) Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
MCI CHARTERED ACCOUNTANTS
Sentinel House
13 Pump Street
Derry
BT48 6JG
 
20 June 2025



Russell's (Frozen Foods) Limited
STATEMENT OF INCOME AND RETAINED EARNINGS
for the financial year ended 30 September 2024
2024 2023
Notes £ £

Profit before taxation - -
 
 
Tax on profit - -
───────── ─────────
Profit for the financial year - -
         
         
Accumulated (loss) brought forward   (611,169)   (611,169)
    ─────────   ─────────
Accumulated loss carried forward   (611,169)   (611,169)
    ═════════   ═════════



Russell's (Frozen Foods) Limited
Company Registration Number: NI012000
BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Creditors: amounts falling due within one year 3 (346,169) (346,169)
───────── ─────────
Net Current Liabilities (346,169) (346,169)
───────── ─────────
Total Assets less Current Liabilities (346,169) (346,169)
═════════ ═════════
 
Capital and Reserves
Called up share capital 265,000 265,000
Statement of income and retained earnings (611,169) (611,169)
───────── ─────────
Shareholders' Deficit (346,169) (346,169)
═════════ ═════════
 
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).
           
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
           
           
________________________________          
Mr. Dominic Fagan          
Director          
           



Russell's (Frozen Foods) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Russell's (Frozen Foods) Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI012000. The registered office of the company is Sentinel House, 13 Pump Street Derry, BT 48 6JG, Northern Ireland. The principle activity is the manufacturing of frozen foods. The financial statements have been presented in Pound (£) 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 financial 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.
 
Provisions
Provisions are recognised when the company has an obligation at the Balance Sheet date as a result of a past event and it is probable that an outflow of economic benefits will be required in settlement of that obligation and the amount can be reliably estimated.
 
Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
 
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.
 
Taxation
The charge for taxation is based on the results for the year and takes into account taxation deferred because of timing difference between the treatment of certain items for taxation and accounting purposes.          Deferred tax is recognised in respect in respect of all timing difference that have originated but not reversed at the Balance Sheet date. Provision is made at the rates expected to apply when the timing differences reverse. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in taxable profits different from those in which they are recognised in the financial statements.
       
3. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 17,907 17,907
Directors' current accounts 289,755 289,755
Other creditors 38,507 38,507
  ───────── ─────────
  346,169 346,169
  ═════════ ═════════
       
4. Ultimate controlling party
 
The company's ultimate parent undertaking is Mulroy Grain and Provender Company Limited, a company incorporated and registered in the Republic of Ireland and under control of its directors.
       
5. Going concern
 
At 30 September 2024 the company had a deficit on shareholder's funds of £346,169.

The company is currently dependent upon one of its directors for continuing financial support. As at 30 September 2024, the company owed the director £289,755. The director has provided the company with written assurance that he will not seek repayment of any of the monies owing to him for at least twelve months from the date of signing the financial statements and in any event not until the deficit in the profit and loss account of the company has been eliminated. In the circumstances and given the specific financial support being provided by him, he has a reasonable expectation that the company will have adequate resources to continue in operational existence for at least twelve months from the date of signing the financial statements.

On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result if the going concern basis were not appropriate. Given the matters referred to above, there is however a material uncertainty which may cast significant doubt as to the company's ability to continue as a going concern and therefore it may be unable to realise its assets and discharge its liabilities in the normal course of business.