REGISTERED NUMBER: NI038919 (Northern Ireland)

Financial Statements

for the Year Ended 31 December 2024

for

Buchanan's (Northern Ireland) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

C.M. Rae

SECRETARY:

D.A. Finch

REGISTERED OFFICE:

Unit 22

Avondale Business Park

Ballyclare

Co. Antrim

BT39 9AU

REGISTERED NUMBER:

NI038919 (Northern Ireland)

AUDITORS:

Henderson & Company

73 Union Street

Greenock

Renfrewshire

PA16 8BG

CURRENT ASSETS

Stocks

210,396

260,941

Debtors

5

258,685

280,225

Cash at bank

7,864

12,742

476,945

553,908

CREDITORS

Amounts falling due within one year

6

290,319

431,660

NET CURRENT ASSETS

186,626

122,248

TOTAL ASSETS LESS CURRENT LIABILITIES

186,626

122,248

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

186,625

122,247

SHAREHOLDERS' FUNDS

186,626

122,248

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 director and authorised for issue on 18 September 2025 and were signed by:

C.M. Rae - Director

1.	STATUTORY INFORMATION

Buchanan's (Northern Ireland) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with the 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. These financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets

Depreciation is provided at annual rates between 25% and 33% in order to write off each asset over its estimated useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write downs to stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.

Taxation

The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as an interest expense.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors

Basic financial instruments are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

32,484

DEPRECIATION

At 1 January 2024

and 31 December 2024

32,484

NET BOOK VALUE

At 31 December 2024

-

5.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

253,145

280,145

Other debtors

1,323

80

254,468

280,225

Amounts falling due after more than one year:

Other debtors

4,217

-

Aggregate amounts

258,685

280,225

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

175,851

305,201

Amounts owed to group undertakings

51,837

-

Taxation and social security

36,595

44,645

Other creditors

26,036

81,814

290,319

431,660

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

£

Within one year

41,072

-

Between one and five years

85,538

-

126,610

-

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for opinion

We were not appointed as auditor until after 31 December 2024 and thus did not observe the counting of physical inventories at the year end. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 December 2024, which are included in the balance sheet at £210,396, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary and our opinion on the company's financial statements is qualified.

Robert Henderson (Senior Statutory Auditor)

for and on behalf of Henderson & Company

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Golden Casket (Greenock) Limited. Mr C.M. Rae owns 100% of the issued ordinary share capital of Golden Casket (Greenock) Limited and is therefore the ultimate controlling party.