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REGISTERED NUMBER: NI043490 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

P.M. Fireplaces Limited

P.M. Fireplaces Limited (Registered number: NI043490)

Contents of the Financial Statements
for the Year Ended 31 March 2025










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P.M. Fireplaces Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: J McNulty
B McNulty
N McNulty





SECRETARY: J McNulty





REGISTERED OFFICE: 56 Ballygawley Road
Dungannon
Co. Tyrone
BT70 1TZ





REGISTERED NUMBER: NI043490 (Northern Ireland)





ACCOUNTANTS: Gildernew & Co Ltd
Six Northland Row
DUNGANNON
Co. Tyrone
BT71 6AW

P.M. Fireplaces Limited (Registered number: NI043490)

Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 725,756 598,097

CURRENT ASSETS
Stocks 588,169 650,282
Debtors 5 412,350 705,075
Cash at bank and in hand 238,434 4,254
1,238,953 1,359,611
CREDITORS
Amounts falling due within one year 6 1,289,921 1,387,601
NET CURRENT LIABILITIES (50,968 ) (27,990 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

674,788

570,107

CREDITORS
Amounts falling due after more than one
year

7

(205,758

)

(289,212

)

PROVISIONS FOR LIABILITIES (51,980 ) (49,447 )
NET ASSETS 417,050 231,448

CAPITAL AND RESERVES
Called up share capital 24 24
Share premium 99,489 99,489
Revaluation reserve 195,000 -
Retained earnings 122,537 131,935
417,050 231,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 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.

P.M. Fireplaces Limited (Registered number: NI043490)

Balance Sheet - continued
31 March 2025


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:




J McNulty - Director B McNulty - Director




N McNulty - Director


P.M. Fireplaces Limited (Registered number: NI043490)

Notes to the Financial Statements
for the Year Ended 31 March 2025


1. STATUTORY INFORMATION

P.M. Fireplaces Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 25% reducing balance and 4% on cost

After initial recognition, the Land & Buildings category is measured using the revaluation model. Revaluations are carried out with sufficient regularity to ensure that the carrying amount does not differ materially from the fair value at the reporting date.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

P.M. Fireplaces Limited (Registered number: NI043490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2024 - 41 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 April 2024 130,000 1,727,586 1,857,586
Additions - 35,885 35,885
Disposals - (6,060 ) (6,060 )
Revaluations 195,000 - 195,000
At 31 March 2025 325,000 1,757,411 2,082,411
DEPRECIATION
At 1 April 2024 - 1,259,489 1,259,489
Charge for year - 97,411 97,411
Eliminated on disposal - (245 ) (245 )
At 31 March 2025 - 1,356,655 1,356,655
NET BOOK VALUE
At 31 March 2025 325,000 400,756 725,756
At 31 March 2024 130,000 468,097 598,097

The company values its properties using the revaluation model. The directors have valued the properties as at 31 March 2025 at £325,000.

Cost or valuation at 31 March 2025 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2025 195,000 - 195,000
Cost 130,000 1,757,411 1,887,411
325,000 1,757,411 2,082,411

P.M. Fireplaces Limited (Registered number: NI043490)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Trade debtors 353,206 538,439
Other debtors 59,144 166,636
412,350 705,075

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£    £   
Bank loans and overdrafts 638,167 531,689
Hire purchase contracts 62,573 63,837
Trade creditors 445,901 657,229
Amounts owed to group undertakings 7,609 7,609
Taxation and social security 62,392 62,083
Other creditors 73,279 65,154
1,289,921 1,387,601

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.25 31.3.24
£    £   
Bank loans 68,755 93,755
Hire purchase contracts 113,003 149,832
Other creditors 24,000 45,625
205,758 289,212