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REGISTERED NUMBER: NI044160 (Northern Ireland)















MOYHEELAND LIMITED

Unaudited Financial Statements for the Year Ended 31 October 2024






MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MOYHEELAND LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Patrick Burns
Marie Terese Burns
Patrick Michael Burns
James Edward Burns
Kathleen Mearns





REGISTERED OFFICE: 15 St Patricks Street
Draperstown
Co Derry
BT45 7AJ





REGISTERED NUMBER: NI044160 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Statement of Financial Position
31 OCTOBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 1,157,384 1,191,710
Investments 6 200,000 -
1,357,384 1,191,710

CURRENT ASSETS
Inventories 431,089 599,488
Receivables 7 13,330 18,193
Cash at bank and in hand 1,391,486 1,561,686
1,835,905 2,179,367
PAYABLES
Amounts falling due within one year 8 (624,206 ) (807,377 )
NET CURRENT ASSETS 1,211,699 1,371,990
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,569,083

2,563,700

PAYABLES
Amounts falling due after more than
one year

9

(7,288

)

(17,895

)

PROVISIONS FOR LIABILITIES (38,998 ) (44,526 )
NET ASSETS 2,522,797 2,501,279

CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Retained earnings 2,517,797 2,496,279
SHAREHOLDERS' FUNDS 2,522,797 2,501,279

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 2024 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.

MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Statement of Financial Position - continued
31 OCTOBER 2024


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 9 April 2025 and were signed on its behalf by:





Patrick Burns - Director


MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Moyheeland 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

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

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Freehold property- Nil
Long leasehold- 4% Straight Line
Plant & Machinery- 25% Reducing Balance
Fixtures and fittings- 15% Reducing Balance


The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition.

Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income Statement when received.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 18 ) .

MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Long Improvements
property leasehold to property
£ £ £
COST
At 1 November 2023 895,233 189,874 -
Additions - - 3,490
At 31 October 2024 895,233 189,874 3,490
DEPRECIATION
At 1 November 2023 - 93,203 -
Charge for year - 7,595 -
At 31 October 2024 - 100,798 -
NET BOOK VALUE
At 31 October 2024 895,233 89,076 3,490
At 31 October 2023 895,233 96,671 -

Fixtures
Plant and and
machinery fittings Totals
£ £ £
COST
At 1 November 2023 29,500 972,774 2,087,381
Additions - 1,839 5,329
At 31 October 2024 29,500 974,613 2,092,710
DEPRECIATION
At 1 November 2023 12,906 789,562 895,671
Charge for year 4,149 27,911 39,655
At 31 October 2024 17,055 817,473 935,326
NET BOOK VALUE
At 31 October 2024 12,445 157,140 1,157,384
At 31 October 2023 16,594 183,212 1,191,710

6. FIXED ASSET INVESTMENTS
Listed
investments
£
COST
Additions 200,000
At 31 October 2024 200,000
NET BOOK VALUE
At 31 October 2024 200,000

MOYHEELAND LIMITED (REGISTERED NUMBER: NI044160)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

7. RECEIVABLES
2024 2023
£ £
Trade receivables 5,971 10,496
Other receivables 7,359 7,697
13,330 18,193

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 10,077 -
Trade payables 255,736 494,429
Taxation and social security 163,718 144,548
Other payables 194,675 168,400
624,206 807,377

The bank overdraft is secured by way of fixed and floating charge over the undertaking of the company all monies and all of its property.

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 7,288 17,895

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
5,000 Ordinary shares 1 5,000 5,000