MH (Newry) Limited iXBRL

Company Registration Number: NI045276

MH (Newry) Limited

Unaudited Financial Statements

for the financial year ended 31 March 2025

MH (Newry) Limited

DIRECTOR AND OTHER INFORMATION


Director	Mr. Richard Garvey


Company Secretary	Claire Garvey


Company Registration Number	NI045276


Registered Office	42 Dernaroy Road
	Killeavy
	Newry
	Co. Down
	BT35 8SP
	Northern Ireland


Business Address	Unit 1b
	Quays Shopping Centre
	Newry
	Co. Down
	BT35 8QS
	Northern Ireland


Accountants	MG accountants
	(Portadown)
	25-27 Carleton Street
	Portadown
	Co. Armagh
	BT62 3EP
	Northern Ireland


Bankers	Danske Bank
	PO Box 183
	Donegall Square West
	Belfast
	Co. Antrim
	BT1 6JS
	United Kingdom

MH (Newry) Limited

Company Registration Number: NI045276

BALANCE SHEET

as at 31 March 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

2,317

12,582

─────────

Current Assets

Stocks

160,000

200,000

Debtors

78,692

72,447

Cash and cash equivalents

70,124

15,744

─────────

308,816

288,191

─────────

Creditors: amounts falling due within one year

(217,265)

(265,498)

─────────

Net Current Assets

91,551

22,693

─────────

Total Assets less Current Liabilities

93,868

35,275

═════════

Capital and Reserves

Called up share capital

100

100

Retained earnings

93,768

35,175

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Equity attributable to owners of the company

93,868

35,275

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Director and authorised for issue on 28 August 2025



________________________________
Mr. Richard Garvey
Director

MH (Newry) Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

MH (Newry) Limited is a company limited by shares incorporated in Northern Ireland. 42 Dernaroy Road, Killeavy, Newry, Co. Down, BT35 8SP, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

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.

Basis of preparation

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.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue is recognised at the point of sale.

Tangible assets and depreciation

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:

Fixtures, fittings and equipment

15% Straight line

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.

Stocks

Stocks are valued at the lower of cost and net realisable value.

Trade and other debtors

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.

Trade and other creditors

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.

Taxation

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.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including director, during the financial year was 9, (2024 - 9).

2025

2024

Number

Number

Shop Staff

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4.	Tangible assets
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 April 2024	128,296	128,296
	Additions	1,670	1,670
		─────────	─────────
	At 31 March 2025	129,966	129,966
		─────────	─────────
	Depreciation
	At 1 April 2024	115,714	115,714
	Charge for the financial year	11,935	11,935
		─────────	─────────
	At 31 March 2025	127,649	127,649
		─────────	─────────
	Net book value
	At 31 March 2025	2,317	2,317
		═════════	═════════
	At 31 March 2024	12,582	12,582
		═════════	═════════


5.	Stocks	2025	2024
		£	£

	Finished goods and goods for resale	160,000	200,000
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


6.	Debtors	2025	2024
		£	£

	Trade debtors	67,157	62,958
	Taxation (Note 8)	8,089	2,380
	Prepayments and accrued income	3,446	7,109
		─────────	─────────
		78,692	72,447
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Bank overdrafts	-	13,964
	Trade creditors	170,094	206,581
	Amounts owed to group undertakings	2,412	15,202
	Taxation (Note 8)	40,509	25,751
	Accruals	4,250	4,000
		─────────	─────────
		217,265	265,498
		═════════	═════════


8.	Taxation	2025	2024
		£	£

	Debtors:
	VAT	8,089	2,380
		═════════	═════════
	Creditors:
	Corporation tax	22,879	24,267
	PAYE / NI	17,630	1,484
		─────────	─────────
		40,509	25,751
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial year-ended 31 March 2025.

10.

Related party transactions

The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.

11.

Parent company

The company regards Meigh Pharmacy Limited as its parent company.

12.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.