Registration number: NI050872

Ribhinn Donn Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Ribhinn Donn Limited

(Registration number: NI050872)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	64,260	64,260
Tangible assets	5	537,896	631,181
		602,156	695,441
Current assets
Debtors	6	84,846	125,359
Cash at bank and in hand		1,426	-
		86,272	125,359
Creditors: Amounts falling due within one year	7	(152,281)	(225,194)
Net current liabilities		(66,009)	(99,835)
Total assets less current liabilities		536,147	595,606
Creditors: Amounts falling due after more than one year	7	(139,321)	(241,846)
Provisions for liabilities		(129,752)	(124,300)
Net assets		267,074	229,460
Capital and reserves
Called up share capital	8	100	100
Retained earnings		266,974	229,360
Shareholders' funds		267,074	229,460

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.

Director's 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 director acknowledges 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Ribhinn Donn Limited

(Registration number: NI050872)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 21 October 2025
 

......................................... William Mark Hugh Coffey Director

Ribhinn Donn 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 the registered office is 17 New Harbour Road, Portavogie, Newtownards, County Down, BT22 1EE.

These financial statements were authorised for issue by the director on 21 October 2025.

2	Accounting policies

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.

The presentation currency is £ Sterling. The level of rounding used in presenting amounts in the financial statements is £1.

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.

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.

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.

Ribhinn Donn Limited

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

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 generally recognised for all taxable timing differences. Deferred tax assets are generally 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 of 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 recovered.

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 the asset realised, based on tax rates (and tax laws) that have
been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

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
Freehold Property	4% straight line
Plant & Machinery	25% straight line
Boat	4% straight line
Motor vehicles	25% straight line

Intangible assets

Intangible assets relate to quota.

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	Nil years

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.

Ribhinn Donn Limited

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

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.

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.

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.

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.

Ribhinn Donn Limited

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

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 2).

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 April 2024	64,260	64,260
At 31 March 2025	64,260	64,260
Amortisation
Carrying amount
At 31 March 2025	64,260	64,260
At 31 March 2024	64,260	64,260

5	Tangible assets

	Land and buildings £	Plant and machinery £	Boat £	Motor vehicles  £
Cost or valuation
At 1 April 2024	18,885	262,593	590,311	49,153
At 31 March 2025	18,885	262,593	590,311	49,153
Depreciation
At 1 April 2024	-	79,656	167,039	43,066
Charge for the year	-	64,138	23,060	6,087
At 31 March 2025	-	143,794	190,099	49,153
Carrying amount
At 31 March 2025	18,885	118,799	400,212	-
At 31 March 2024	18,885	182,937	423,272	6,087

Ribhinn Donn Limited

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

	Total £
Cost or valuation
At 1 April 2024	920,942
At 31 March 2025	920,942
Depreciation
At 1 April 2024	289,761
Charge for the year	93,285
At 31 March 2025	383,046
Carrying amount
At 31 March 2025	537,896
At 31 March 2024	631,181

Included within the net book value of land and buildings above is £18,885 (2024 - £18,885) in respect of freehold land and buildings.
 

6

Debtors

Current	2025 £	2024 £
Trade debtors	27,057	37,498
Prepayments	16,087	-
Other debtors	41,702	87,861
	84,846	125,359

Ribhinn Donn Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	14,881	58,275
Trade creditors		26,339	24,446
Taxation and social security		73,215	8,539
Accruals and deferred income		3,355	19,123
Other creditors		34,491	114,811
		152,281	225,194

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	139,321	241,846

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A of £1 each	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	139,321	241,846

Ribhinn Donn Limited

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

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	14,696	27,224
Bank overdrafts	185	26,390
Other borrowings	-	4,661
	14,881	58,275

10	Related party transactions

Transactions with the director

2025	At 1 April 2024 £	Advances to director £	Repayments by director £	At 31 March 2025 £
William Mark Hugh Coffey
	93,641	93,792	(153,051)	34,382