0 false false false false false false false false false false true false false false false false false No description of principal activity 2024-06-01 Sage Accounts Production Advanced 2024 - FRS102_2024 210,000 210,000 xbrli:pure xbrli:shares iso4217:GBP NI040350 2024-06-01 2025-05-31 NI040350 2025-05-31 NI040350 2024-05-31 NI040350 2023-06-01 2024-05-31 NI040350 2024-05-31 NI040350 2023-05-31 NI040350 core:NetGoodwill 2024-06-01 2025-05-31 NI040350 bus:LeadAgentIfApplicable 2024-06-01 2025-05-31 NI040350 core:NetGoodwill 2025-05-31 NI040350 core:WithinOneYear 2025-05-31 NI040350 core:WithinOneYear 2024-05-31 NI040350 core:ShareCapital 2025-05-31 NI040350 core:ShareCapital 2024-05-31 NI040350 core:RetainedEarningsAccumulatedLosses 2025-05-31 NI040350 core:RetainedEarningsAccumulatedLosses 2024-05-31 NI040350 bus:Director1 2024-06-01 2025-05-31 NI040350 bus:Director2 2024-06-01 2025-05-31 NI040350 bus:SmallEntities 2024-06-01 2025-05-31 NI040350 bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 NI040350 bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 NI040350 bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 NI040350 bus:FullAccounts 2024-06-01 2025-05-31 NI040350 core:OfficeEquipment 2024-06-01 2025-05-31
COMPANY REGISTRATION NUMBER: NI040350

E & R Logan Limited

Filleted Unaudited Financial Statements

For the year ended

31 May 2025

E & R Logan Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of E & R Logan Limited

Year ended 31 May 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HENRY MURRAY & CO LTD. Chartered Accountants
23 Church Place Lurgan Co Armagh BT66 6EY
10 November 2025

E & R Logan Limited

Statement of Financial Position

31 May 2025

| 2025 | 2024
Note | £ | £ | £

Fixed assets

Tangible assets | 5 |  | 1,236 | 1,545

Current assets

Stocks | 316,800 |  | 186,786
Debtors | 6 | 982 |  | 771
Cash at bank and in hand | 114,558 |  | 301,407
| --------- |  | ---------
| 432,340 |  | 488,964

Creditors: amounts falling due within one year | 7 | 247,416 |  | 300,673
| --------- |  | ---------
Net current assets |  | 184,924 | 188,291
|  | --------- | ---------
Total assets less current liabilities |  | 186,160 | 189,836
|  | --------- | ---------
Net assets |  | 186,160 | 189,836
|  | --------- | ---------

Capital and reserves

Called up share capital |  | 10,002 | 10,002
Profit and loss account |  | 176,158 | 179,834
|  | --------- | ---------
Shareholders funds |  | 186,160 | 189,836
|  | --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

E & R Logan Limited

Statement of Financial Position (continued)

31 May 2025
These financial statements were approved by the board of directors and authorised for issue on 10 November 2025 , and are signed on behalf of the board by:
Mr E Logan Mrs R Logan
Company registration number: NI040350

E & R Logan Limited

Notes to the Financial Statements

Year ended 31 May 2025
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 100 Church Street, Ahoghill, Co Antrim.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future having adequate funds to meet their obligations as they fall due. The validity of this assumption depends on: i) the continued support of the company's bankers; ii) the continued support of the company's shareholders; iii) an improvement in market conditions. In the light of current residential property market conditions and associated funding issues, the directors have reviewed the company's activities and are of the opinion that the company will remain viable over the medium term and that any additional funding requirement which may arise, can be adequately addressed. Consequently, they are satisfied that it is appropriate for the financial statements to be prepared on a going concern basis at this time.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

| Goodwill | - | 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Equipment | - | 20% reducing balance

Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Work in progress and related costs are stated at the lower of cost and net realisable value. Cost is calculated as all costs relating to construction services. Where net realisable value is used it is based on the Directors best assessment of the realisable value given the market conditions prevailing at the relevant time and their view of the medium term prospects. Independent professional valuations were not obtained. Work in progress and related costs are stated at the lower of cost and net realisable value. Cost is calculated as all costs relating to construction services. Where net realisable value is used it is based on the Directors best assessment of the realisable value given the market conditions prevailing at the relevant time and their view of the medium term prospects. Independent professional valuations were not obtained.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Intangible assets

| Goodwill
| £
Cost |
At 1 June 2024 and 31 May 2025 | 210,000
| ---------
Amortisation |
At 1 June 2024 and 31 May 2025 | 210,000
| ---------
Carrying amount |
At 31 May 2025 | –
| ---------
At 31 May 2024 | –
| ---------

5. Tangible assets

| Equipment | Total
| £ | £
Cost |  |
At 1 June 2024 and 31 May 2025 | 54,168 | 54,168
| -------- | --------
Depreciation |  |
At 1 June 2024 | 52,623 | 52,623
Charge for the year | 309 | 309
| -------- | --------
At 31 May 2025 | 52,932 | 52,932
| -------- | --------
Carrying amount |  |
At 31 May 2025 | 1,236 | 1,236
| -------- | --------
At 31 May 2024 | 1,545 | 1,545
| -------- | --------

6. Debtors

| 2025 | 2024
| £ | £
Other debtors | 982 | 771
| ---- | ----

7. Creditors: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 12,249 | 21,541
Trade creditors | 4,565 | 2,842
Corporation tax | – | 20,288
Other creditors | 230,602 | 256,002
| --------- | ---------
| 247,416 | 300,673
| --------- | ---------

8. Bank borrowings and securities
The Company's bank facilities are secured as follows.
1. Fixed Charge over the Book Debts of the Company.
2. Floating Charge over the assets and undertakings of the Company.
3. Mortgage and Legal Charge over the Title Deeds and Documents of 2.25 acres of development land at Ahoghill, Co. Antrim and over the land comprised in Folio Nos 28476 and 22218, Co. Antrim.
4. All Monies Charge over Folio 99241.
5. Counter Indemnity (incorporating offset arrangements) in respect of Preformance Bonds in favour of the bank to Department of Environment in the amount of £58,000.
9. Contingencies
The bank has issued a Preformance Bond in the amount of £58,000 in relation to various developments in the favour of the Department of Environment.
10. Related party transactions
During the year to 31st May 2025 the company was engaged in a building contract with one of the Directors children to build their home on a commercial basis. The amount of £12,000 has been invoiced out in total during the year with£0 remaining outstanding at the year end.