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CLAREMOUNT (MAGHERA) LIMITED

Registered Number
NI633547
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 September 2024

CLAREMOUNT (MAGHERA) LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

Karol McCauley
Shaun McElhinney

Registered Address

2 Martins Terrace
Maghera
BT46 5BT

Registered Number

NI633547 (Northern Ireland)
CLAREMOUNT (MAGHERA) LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets327,50030,000
Tangible assets466,78070,562
94,280100,562
Current assets
Stocks12,6684,323
Debtors19,76317,745
Cash at bank and on hand4,63710,362
37,06832,430
Creditors amounts falling due within one year(33,862)(19,489)
Net current assets (liabilities)3,20612,941
Total assets less current liabilities97,486113,503
Creditors amounts falling due after one year(25,901)(53,838)
Net assets71,58559,665
Capital and reserves
Called up share capital300300
Profit and loss account71,28559,365
Shareholders' funds71,58559,665
The financial statements were approved and authorised for issue by the Board of Directors on 27 June 2025, and are signed on its behalf by:
Karol McCauley
Director
Registered Company No. NI633547
CLAREMOUNT (MAGHERA) LIMITED
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Land and buildings2
Plant and machinery20
Fixtures and fittings20
Stocks and work in progress
Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year44
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 October 2350,00050,000
At 30 September 2450,00050,000
Amortisation and impairment
At 01 October 2320,00020,000
Charge for year2,5002,500
At 30 September 2422,50022,500
Net book value
At 30 September 2427,50027,500
At 30 September 2330,00030,000
4.Tangible fixed assets

Land & buildings

Plant & machinery

Office Equipment

Total

££££
Cost or valuation
At 01 October 2378,74810,7626,17495,684
At 30 September 2478,74810,7626,17495,684
Depreciation and impairment
At 01 October 2312,6006,7735,74925,122
Charge for year1,5751,9942133,782
At 30 September 2414,1758,7675,96228,904
Net book value
At 30 September 2464,5731,99521266,780
At 30 September 2366,1483,98942570,562