Albert Graham Limited NI011444 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is retailing of furniture and furnishings Digita Accounts Production Advanced 6.30.9574.0 true true NI011444 2024-04-01 2025-03-31 NI011444 2025-03-31 NI011444 bus:OrdinaryShareClass1 2025-03-31 NI011444 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 NI011444 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 NI011444 core:CurrentFinancialInstruments 2025-03-31 NI011444 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 NI011444 core:Non-currentFinancialInstruments 2025-03-31 NI011444 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 NI011444 core:FurnitureFittingsToolsEquipment 2025-03-31 NI011444 core:LandBuildings 2025-03-31 NI011444 core:MotorVehicles 2025-03-31 NI011444 bus:SmallEntities 2024-04-01 2025-03-31 NI011444 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 NI011444 bus:FilletedAccounts 2024-04-01 2025-03-31 NI011444 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 NI011444 bus:RegisteredOffice 2024-04-01 2025-03-31 NI011444 bus:Director3 2024-04-01 2025-03-31 NI011444 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 NI011444 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 NI011444 core:Buildings 2024-04-01 2025-03-31 NI011444 core:ComputerEquipment 2024-04-01 2025-03-31 NI011444 core:FurnitureFittings 2024-04-01 2025-03-31 NI011444 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 NI011444 core:LandBuildings 2024-04-01 2025-03-31 NI011444 core:MotorCars 2024-04-01 2025-03-31 NI011444 core:MotorVehicles 2024-04-01 2025-03-31 NI011444 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 NI011444 countries:NorthernIreland 2024-04-01 2025-03-31 NI011444 2024-03-31 NI011444 core:FurnitureFittingsToolsEquipment 2024-03-31 NI011444 core:LandBuildings 2024-03-31 NI011444 core:MotorVehicles 2024-03-31 NI011444 2023-04-01 2024-03-31 NI011444 2024-03-31 NI011444 bus:OrdinaryShareClass1 2024-03-31 NI011444 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 NI011444 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 NI011444 core:CurrentFinancialInstruments 2024-03-31 NI011444 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI011444 core:Non-currentFinancialInstruments 2024-03-31 NI011444 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI011444 core:FurnitureFittingsToolsEquipment 2024-03-31 NI011444 core:LandBuildings 2024-03-31 NI011444 core:MotorVehicles 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI011444

Albert Graham Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Albert Graham Limited

(Registration number: NI011444)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

495,209

533,051

Investment property

5

500,000

500,000

 

995,209

1,033,051

Current assets

 

Stocks

6

326,845

347,526

Debtors

7

53,320

103,593

Cash at bank and in hand

 

4,579

889

 

384,744

452,008

Creditors: Amounts falling due within one year

8

(333,577)

(388,411)

Net current assets

 

51,167

63,597

Total assets less current liabilities

 

1,046,376

1,096,648

Creditors: Amounts falling due after more than one year

8

(2,110)

(20,108)

Provisions for liabilities

(30,234)

(31,496)

Net assets

 

1,014,032

1,045,044

Capital and reserves

 

Called up share capital

10

8,500

8,500

Revaluation reserve

322,644

322,644

Retained earnings

682,888

713,900

Shareholders' funds

 

1,014,032

1,045,044

For the financial year ending 31 March 2025 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.

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.

 

Albert Graham Limited

(Registration number: NI011444)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 28 July 2025 and signed on its behalf by:
 

.........................................
Mr Darius Graham
Director

 

Albert Graham Limited

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

1

General information

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

The address of its registered office is: Bridgewater House, 1-5 Railway Street, Ballymena, Co. Antrim, BT42 2AA.

These financial statements were authorised for issue by the Board on 28 July 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 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 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.

Exemption from preparing group accounts

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group.

Revenue recognition

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

 

Albert Graham Limited

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

Tangible assets

Tangible assets (other than freehold property) are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Land and property assets are held at fair value.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Fixed assets are depreciated at rates calculated to reduce them to residual value at the end of their expected normal lives. The principal rates used are as follows:

Asset class

Depreciation method and rate

Buildings - owned

4% per year (straight line)

Fixtures and fittings

10% per year (straight line)

Motor vehicles

25% per year (reducing balance)

Computer equipment

25% per year (straight line)

Website development costs

25% per year (straight line)

Investment property

Investment properties are accounted for in accordance with the requirements of Financial Reporting Standard 102. They are included in the financial statements at their fair value as at the balance sheet date. Fair value gains and losses are reported through the profit and loss account.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stock is valued at lower of cost and net realisable value, after due regard for obsolete and slow moving stock.

 

Albert Graham Limited

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

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The Company has a defined contribution scheme operated by a life assurance company and the premiums payable are charged in the accounts in the year in which they are paid.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2024 - 9).

 

Albert Graham Limited

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

4

Tangible assets

Freehold land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

1,098,535

268,021

121,947

1,488,503

Additions

-

5,400

-

5,400

Disposals

-

-

(18,500)

(18,500)

At 31 March 2025

1,098,535

273,421

103,447

1,475,403

Depreciation

At 1 April 2024

655,240

255,350

44,862

955,452

Charge for the year

12,900

6,680

18,540

38,120

Eliminated on disposal

-

-

(13,378)

(13,378)

At 31 March 2025

668,140

262,030

50,024

980,194

Carrying amount

At 31 March 2025

430,395

11,391

53,423

495,209

At 31 March 2024

443,295

12,671

77,085

533,051


Included in fixed assets are motor vehicles with a net book value of £35,113 (2024: £46,825) which are the subject of hire purchase contracts. The amount outstanding on the finance agreement at the year end was £5,912 (2024: £11,775). Depreciation charged on these assets during the year amounted to £11,712 (2024: £6,659).

Revaluation

The fair value of the company's property was revalued on 13 May 2019 by an independent valuer . The name and qualification of the independent valuer are Mark Patterson (MRICS) on behalf of O'Connor Kennedy Turtle. The directors have reviewed the methods and assumptions used by the independent valuer in determining fair value and and concluded that these remain appropriate. As a result, the directors consider the carrying value to be equalivent to current market value.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £172,280 (2024 - £172,280).

 

Albert Graham Limited

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

5

Investment properties

2025
£

At 1 April

500,000

At 31 March

500,000

The Company's investment property was valued by professional valuers in May 2019 and adjustments to cost have been made as appropriate so as to include the property at fair value. Having reviewed the methods and assumptions used by the independent valuer to determine fair value, the directors are of the opinion that carrying value is consistent with current market value.

6

Stocks

2025
£

2024
£

Goods for resale

326,845

347,526

7

Debtors

Current

2025
£

2024
£

Trade debtors

38,915

86,362

Prepayments

14,405

17,231

 

53,320

103,593

 

Albert Graham Limited

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

8

Creditors

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

9

16,912

25,902

Trade creditors

 

43,252

45,942

Taxation and social security

 

47,620

48,263

Other creditors

 

216,568

240,119

Corporation tax

 

9,225

28,185

 

333,577

388,411

Due after one year

 

Loans and borrowings

9

2,110

20,108

Substantially all of the amounts due to trade creditors have been incurred under conditions of sale which include terms relating to the reservation of title of goods supplied until payment is made.

The bank borrowings are secured by a charge over the book debts, a floating charge over all the assets of the Company and a legal mortgage over the Company's property.
 

9

Loans and borrowings

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

2,110

14,196

Hire purchase contracts

-

5,912

2,110

20,108

2025
£

2024
£

Current loans and borrowings

Bank borrowings

11,000

10,000

Bank overdrafts

-

10,039

Hire purchase contracts

5,912

5,863

16,912

25,902

 

Albert Graham Limited

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

10

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

8,500

8,500

8,500

8,500

       

11

Related party transactions

The Company is a wholly owned subsidiary of DAG Property Limited, which is controlled by Darius and Mrs Maureen Graham.

At the balance sheet date, amounts due to the Directors was as follows:

2025
 £

2024
 £

Directors current account

160,628

136,209


No interest is charged in respect of this balance.