Registration number:
Poole's (Dromore) Ltd
for the Period from 1 August 2024 to 1 April 2025
Poole's (Dromore) Ltd
Contents
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Company Information |
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Directors' Report |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Poole's (Dromore) Ltd
Company Information
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Directors |
Mr Michael Kelleher Mrs Maeve Mitchell |
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Company secretary |
Mr Eoin Connolly |
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Registered office |
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Accountants |
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Poole's (Dromore) Ltd
Directors' Report for the Period from 1 August 2024 to 1 April 2025
The directors present their report and the abridged financial statements for the period from 1 August 2024 to 1 April 2025.
Directors of the company
The directors who held office during the period were as follows:
The following directors were appointed after the period end:
Principal activity
The principal activity of the company is the operation of a supermarket. On 2nd April 2025 the entire share capital of the company was purchased by Musgrave Retail Partners NI Limited, whose ultimate parent company is Musgrave Group plc, incorporated in the Republic of Ireland. The existing company directors resigned and were replaced by new directors. Also on the same date, the company sold its assets, liabilities and trade to Musgrave Retail Stores NI Limited, a fellow group company. The company ceased to trade from that point onwards.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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Poole's (Dromore) Ltd
(Registration number: NI621440)
Abridged Balance Sheet as at 1 April 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
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Net current liabilities |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Accruals and deferred income |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial period ending 1 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Poole's (Dromore) Ltd
(Registration number: NI621440)
Abridged Balance Sheet as at 1 April 2025
Approved and authorised by the
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Poole's (Dromore) Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2024 to 1 April 2025
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
The principal place of business is:
16 Banbridge Road
Town Centre
Dromore
Down
BT25 1NB
These financial statements were authorised for issue by the
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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 abridged 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 abridged 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.
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.
Poole's (Dromore) Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2024 to 1 April 2025
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.
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:
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Asset class |
Depreciation method and rate |
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Land & Buildings |
2% Straight Line |
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Plant & Machinery |
10% Straight Line |
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Fixtures & Fittings |
10% 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.
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.
Poole's (Dromore) Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2024 to 1 April 2025
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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.
Poole's (Dromore) Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2024 to 1 April 2025
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
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Tangible assets |
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Land and buildings |
Furniture, fittings and equipment |
Other tangible assets |
Total |
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Cost or valuation |
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At 1 August 2024 |
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Additions |
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At 1 April 2025 |
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Depreciation |
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At 1 August 2024 |
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Charge for the period |
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At 1 April 2025 |
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Carrying amount |
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At 1 April 2025 |
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At 31 July 2024 |
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Included within the net book value of land and buildings above is £2,831,222 (2024 - £2,874,148) in respect of freehold land and buildings.
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Stocks |
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2025 |
2024 |
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Other inventories |
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Share capital |
Allotted, called up and fully paid shares
Poole's (Dromore) Ltd
Notes to the Unaudited Abridged Financial Statements for the Period from 1 August 2024 to 1 April 2025
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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1,000 |
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1,000 |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the period was as follows:
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2025 |
2024 |
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Remuneration |
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Contributions paid to money purchase schemes |
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25,662 |
97,841 |