Lir Construction Limited - Filleted accounts

Registered number

NI073689

Lir Construction Limited

Unaudited Financial Statements

for the year ended

31 January 2025

Lir Construction Limited
Registered number:		NI073689
Balance Sheet
as at 31 January 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		97,620			80,329

Current assets
Stocks		338,500			351,800
Debtors	4	238,034			76,071
Cash at bank and in hand		968,287			994,696
		1,544,821			1,422,567

Creditors: amounts falling due within one year	5	(658,187)			(610,884)

Net current assets			886,634			811,683

Total assets less current liabilities			984,254			892,012

Provisions for liabilities			(24,405)			(20,082)

Net assets			959,849			871,930

Capital and reserves
Called up share capital			6			6
Profit and loss account			959,843			871,924

Shareholders' funds			959,849			871,930

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Liam Mone
Director
Approved by the Board on 27 October 2025

Lir Construction Limited
Notes to the Accounts
for the year ended 31 January 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			25% reducing balance
	Motor vehicles			25% reducing balance
	Office equipment			20% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					6		5


3	Tangible fixed assets
		Plant and machinery		Motor vehicles		Office equipment		Total
£			£		£		£
	Cost
	At 1 February 2024	260,598		91,735		7,718		360,051
	Additions	39,900		-		-		39,900
	At 31 January 2025	300,498		91,735		7,718		399,951

	Depreciation
	At 1 February 2024	213,033		61,217		5,472		279,722
	Charge for the year	14,462		7,629		518		22,609
	At 31 January 2025	227,495		68,846		5,990		302,331

	Net book value
	At 31 January 2025	73,003		22,889		1,728		97,620
	At 31 January 2024	47,565		30,518		2,246		80,329


4	Debtors					2025		2024
£							£

	Trade debtors					202,996		50,000
	Other debtors					35,038		26,071
						238,034		76,071


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Trade creditors					47,713		31,356
	Taxation and social security costs					46,737		51,433
	Other creditors					563,737		528,095
						658,187		610,884


6	Other information

	Lir Construction Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: Stony Brae, Upper Darkley Road, Keady, Co.Armagh, BT60 3RE