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Registration number: NI627701

Lirqalo Ltd
Unaudited Filleted Financial Statements
for the Year Ended 5 April 2025

Lirqalo Ltd

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Lirqalo Ltd

Company Information

Directors | Mrs Anne Quinn Mr Liam Quinn

Company secretary | Mr Liam Quinn

Registered office | 53 Main Street Randalstown County Antrim BT41 3BB

Accountants | McKeague Morgan & Company Chartered Accountants27 College Gardens Belfast BT9 6BS

Lirqalo Ltd

(Registration number: NI627701)
Balance Sheet as at 5 April 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 13,103 | 15,423
Current assets |  |  |
Debtors | 6 | 502 | 10,125
Cash at bank and in hand |  | 57,902 | 14,142
|  | 58,404 | 24,267
Creditors: Amounts falling due within one year | 7 | (60,595) | (34,980)
Net current liabilities |  | (2,191) | (10,713)
Total assets less current liabilities |  | 10,912 | 4,710
Provisions for liabilities |  | (2,513) | (2,926)
Net assets |  | 8,399 | 1,784
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 8,299 | 1,684
Total equity |  | 8,399 | 1,784

For the financial year ending 5 April 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.

Approved and authorised by the Board on 2 October 2025 and signed on its behalf by:

.........................................

Mr Liam Quinn

Company secretary and director

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

1 | General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
53 Main Street
Randalstown
County Antrim
BT41 3BB

These financial statements were authorised for issue by the Board on 2 October 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.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
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 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 income 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.

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

2 | Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant & machinery | 12.5% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 20% straight line

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.

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

2 | Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

2 | Accounting policies (continued)

Financial instruments

Classification
The company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and investments in non-puttable shares.
Recognition and measurement
Debt instruments (other than those wholly repayable or receivable with one year), including loans and other accounts receivable and payable, are measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measureed initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Impairment
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment, if objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and best estimate and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet date when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 5).

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 6 April 2024 | 42,000 | 42,000
At 5 April 2025 | 42,000 | 42,000
Amortisation
At 6 April 2024 | 42,000 | 42,000
At 5 April 2025 | 42,000 | 42,000
Carrying amount
At 5 April 2025 | - | -

5 | Tangible assets

| Other property, plant and equipment £ | Total £
Cost or valuation
At 6 April 2024 | 58,851 | 58,851
Disposals | (2,000) | (2,000)
At 5 April 2025 | 56,851 | 56,851
Depreciation
At 6 April 2024 | 43,428 | 43,428
Charge for the year | 1,070 | 1,070
Eliminated on disposal | (750) | (750)
At 5 April 2025 | 43,748 | 43,748
Carrying amount
At 5 April 2025 | 13,103 | 13,103
At 5 April 2024 | 15,423 | 15,423

Lirqalo Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2025

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 222 | 426
Prepayments | 280 | 228
Other debtors | - | 9,471
| 502 | 10,125

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 9,817 | 2,069
Corporation tax liability |  | 38,389 | 27,439
Taxation and social security |  | 5,945 | 872
Other creditors |  | 1,489 | -
Loans from directors |  | 355 | -
Accruals and deferred income |  | 4,600 | 4,600
|  | 60,595 | 34,980

8 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 100 | 100 | 100 | 100