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Registration number: NI657903

Botheen Men Retail NI Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2024

 

Botheen Men Retail NI Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

Botheen Men Retail NI Limited

Company Information

Directors

Shane Coman

Conor Ryan

Daire Ryan

Registered office

c/o Integral Accounting Solutions
Main Street
Maguiresbridge
BT94 4RZ

Accountants

Mr Mark Johnston

 

Botheen Men Retail NI Limited

(Registration number: NI657903)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

741,177

899,873

Current assets

 

Stocks

5

69,584

96,267

Debtors

28,624

23,667

Cash at bank and in hand

 

83,767

113,170

 

181,975

233,104

Prepayments and accrued income

 

93,608

23,536

Creditors: Amounts falling due within one year

(1,506,301)

(1,619,451)

Net current liabilities

 

(1,230,718)

(1,362,811)

Total assets less current liabilities

 

(489,541)

(462,938)

Provisions for liabilities

(12,730)

(12,730)

Accruals and deferred income

 

(150,000)

(184,285)

Net liabilities

 

(652,271)

(659,953)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(652,371)

(660,053)

Shareholders' deficit

 

(652,271)

(659,953)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Botheen Men Retail NI Limited

(Registration number: NI657903)
Abridged Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 

.........................................

Conor Ryan

Director

.........................................

Daire Ryan

Director

 

Botheen Men Retail NI Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
c/o Integral Accounting Solutions
Main Street
Maguiresbridge
BT94 4RZ

These financial statements were authorised for issue by the Board on 20 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 abridged 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 abridged 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Botheen Men Retail NI Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

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:

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Botheen Men Retail NI Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Borrowings

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 32).

 

Botheen Men Retail NI Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

1,170,748

2,272

9,550

230,938

1,413,508

Additions

800

-

-

1,678

2,478

At 31 December 2024

1,171,548

2,272

9,550

232,616

1,415,986

Depreciation

At 1 January 2024

359,738

1,340

8,913

143,644

513,635

Charge for the year

113,654

311

637

46,572

161,174

At 31 December 2024

473,392

1,651

9,550

190,216

674,809

Carrying amount

At 31 December 2024

698,156

621

-

42,400

741,177

At 31 December 2023

811,010

932

637

87,294

899,873

Included within the net book value of land and buildings above is £565,697 (2023 - £659,175) in respect of freehold land and buildings and £132,459 (2023 - £151,835) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

69,584

96,267

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

7

Related party transactions

 

Botheen Men Retail NI Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

84,943

77,656