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| Directors |
George Mullan |
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Paul Reaney (Appointed 22 November 2024) |
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Keith Wilson |
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Crawford Wilson (Appointed 21 May 2024) |
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Niall ODonnell |
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Alison Pell |
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Deirdre McIvor (Resigned 31 March 2025) |
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Neville Graham (Resigned 22 November 2024) |
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Thomas Douglas (Resigned 21 May 2024) |
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| Company Secretary |
Pearl Campbell (Appointed 5 August 2025) |
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Valerie McCann (Resigned 5 August 2025) |
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| Company Registration Number |
NI040263 |
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| Registered Office and Business Address |
1A Lissue Walk |
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Lissue Industrial Estate (East) |
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LISBURN |
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Co. Antrim |
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BT28 2LU |
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Northern Ireland |
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| Independent Auditors |
MG accountants |
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(Portadown) |
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25-27 Carleton Street |
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Portadown |
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Co. Armagh |
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BT62 3EP |
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Northern Ireland |
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| Bankers |
Ulster Bank Ltd |
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11-16 Donegall Square East |
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Belfast |
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BT1 5UB |
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United Kingdom |
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| Solicitors |
Mills Selig |
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21 Arthur Street |
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Belfast |
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BT1 4GA |
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Northern Ireland |
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| 2. |
Summary of Significant Accounting Policies |
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The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. |
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Statement of compliance |
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The financial statements of the company for the year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. |
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Basis of preparation |
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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. |
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Turnover |
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Turnover comprises the invoice value of inspection and certification services supplied by the company, exclusive of value added tax.
Turnover is measured at the fair value of the consideration received or receivable for services rendered. The company recognises revenue upon completion of the services provided. |
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Tangible assets and depreciation |
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Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: |
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Office equipment |
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33% Straight line |
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The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
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Investments |
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Current asset investments are recorded at fair value. Change in investment value due to investment performance are recognised as investment income in the company's profit and loss account. |
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Trade and other debtors |
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Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. |
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Trade and other creditors |
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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. |
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Taxation |
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Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. |
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| 10. |
Related party transactions |
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LMC is a promoter of this organisation. During the year ended 31 March 2025, the following arms length transactions were undertaken in the normal course of trading: Services to LMC amounted to £1,169,114 (2024: £1,156,351). Purchases of goods and services from LMC amounted to £106,872 (2024: £109,115). Amounts owed to LMC amounted to £41,493 (2024:£36,951).
The company secretary, who served during the year, under the trading entity Food Technology Services, provides audit services and key professional management services to the company, as well as undertaking the secretarial requirements of the business. During the year ended 31 March 2025, services from Food Technology Services amounted to £63,757 (2024: £62,047). |