LK Communications (Ireland) Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI055546

LK Communications (Ireland) Limited

Filleted Financial Statements

31 December 2024

LK Communications (Ireland) Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	6		2,838	3,644

Current assets

Stocks		–	10,000
Debtors	7	204,026	230,621
Cash at bank and in hand		217,849	77,884
		---------	---------
		421,875	318,505

Creditors: amounts falling due within one year	8	212,944		99,106
		---------		---------
Net current assets			208,931	219,399
			---------	---------
Total assets less current liabilities			211,769	223,043

Creditors: amounts falling due after more than one year	9		4,411	14,810

Provisions

Taxation including deferred tax	134	134
	---------	---------
Net assets	207,224	208,099
	---------	---------

Capital and reserves

Called up share capital	10	30,100	30,100
Profit and loss account		177,124	177,999
		---------	---------
Shareholders funds		207,224	208,099
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

LK Communications (Ireland) Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:

Mr J Keane

Director

Company registration number: NI055546

LK Communications (Ireland) Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Ardmore House, Pavilions Office Park, Kinnegar Drive, Holywood, Co. Down, BT18 9JQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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 the 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.

Income tax

Deferred tax is provided in full on timing differences which result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise 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. Deferred tax assets are recognised to the extent that it it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Office equipment	-	33% reducing balance
Computer equipment	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).

5. Tax on profit

Major components of tax expense

		Period from
	Year to	1 Nov 22 to
	31 Dec 24	31 Dec 23
	£	£

Current tax:

UK current tax expense	2,551	3,279
Adjustments in respect of prior periods	–	149
	-------	-------
Total current tax	2,551	3,428
	-------	-------
	-------	-------
Tax on profit	2,551	3,428
	-------	-------

Tax recognised as other comprehensive income or equity

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2023: higher than) the standard rate of corporation tax in the UK of 25 % (2023: 22.50 %).

		Period from
	Year to	1 Nov 22 to
	31 Dec 24	31 Dec 23
	£	£
Profit on ordinary activities before taxation	1,676	2,551
	-------	-------
Profit on ordinary activities by rate of tax	419	574
Adjustment to tax charge in respect of prior periods	–	149
Effect of expenses not deductible for tax purposes	201	( 662)
Effect of different UK tax rates on some earnings	(563)	(319)
Utilisation of tax losses	2,494	3,686
	-------	-------
Tax on profit	2,551	3,428
	-------	-------

6. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 January 2024	45,192	13,335	58,527
Additions	475	–	475
	--------	--------	--------
At 31 December 2024	45,667	13,335	59,002
	--------	--------	--------
Depreciation
At 1 January 2024	41,548	13,335	54,883
Charge for the year	1,281	–	1,281
	--------	--------	--------
At 31 December 2024	42,829	13,335	56,164
	--------	--------	--------
Carrying amount
At 31 December 2024	2,838	–	2,838
	--------	--------	--------
At 31 December 2023	3,644	–	3,644
	--------	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	161,503	135,020
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	62,717
Other debtors	42,523	32,884
	---------	---------
	204,026	230,621
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	15,886	14,255
Trade creditors	11,808	17,393
Amounts owed to group undertakings and undertakings in which the company has a participating interest	97,657	–
Corporation tax	2,551	3,279
Social security and other taxes	28,145	44,400
Other creditors	56,897	19,779
	---------	--------
	212,944	99,106
	---------	--------

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	4,411	14,810
	-------	--------

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	30,100	30,100	30,100	30,100
	--------	--------	--------	--------

11. Summary audit opinion

The auditor's report dated 27 August 2025 was unqualified .

The senior statutory auditor was Michael Flannigan , for and on behalf of FEB Chartered Accountants .

12. Directors' advances, credits and guarantees

13. Related party transactions

At the year end, the related party balances were as follows:

	2024	2023
	£	£
Ardmore Advertising & Marketing Limited	97,657	62,717

14. Controlling party

The company is a private company, limited by shares. It is registered in Northern Ireland (NI022062) with its registered office at Unit 3 Kinnegar Drive, Holywood, BT18 9JQ.