UHY HACKER YOUNG FITCH LIMITED


Directors	M C FITCH
	S S MCCULLOUGH


Company Secretary	G B FITCH


Registered Address	Suite 2.06, Custom House Custom House Square
	Belfast
	BT1 3ET


Registered Number	NI051815 (Northern Ireland)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	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).

	Revenue from rendering of services
	Revenue 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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Interest income
	Interest income is recognised using the effective interest rate method.

	Dividend income
	Dividend income is recognised when the right to receive payment is established.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Borrowing costs
	All borrowing costs are recognised in profit or loss in the period in which they are incurred.

	Finance costs
	Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.

	Deferred tax
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Fixtures and fittings	20	-
Vehicles	-	10
Office Equipment	20	-

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Trade and other 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.

Trade and other 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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other 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.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2025		2024
	Average number of employees during the year	11		10

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 24	600,000	600,000
At 31 March 25	600,000	600,000
Amortisation and impairment
At 01 April 24	600,000	600,000
At 31 March 25	600,000	600,000
Net book value
At 31 March 25	-	-
At 31 March 24	-	-

4.	Tangible fixed assets

	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 24	61,478	1,093	32,630	95,201
Additions	-	-	4,278	4,278
Disposals	-	-	(1,429)	(1,429)
At 31 March 25	61,478	1,093	35,479	98,050
Depreciation and impairment
At 01 April 24	7,870	-	11,158	19,028
Charge for year	7,869	219	8,838	16,926
On disposals	-	-	(1,429)	(1,429)
At 31 March 25	15,739	219	18,567	34,525
Net book value
At 31 March 25	45,739	874	16,912	63,525
At 31 March 24	53,608	1,093	21,472	76,173

5.	Fixed asset investments

	Other investments¹	Total
	£	£
Cost or valuation
At 01 April 24	2	2
At 31 March 25	2	2
Net book value
At 31 March 25	2	2
At 31 March 24	2	2

	Notes
	¹Other investments other than loans

6.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	641,581	547,059
Other debtors	59,566	88,346
Prepayments and accrued income	48,436	48,772
Total	749,583	684,177

7.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	17,639	20,959
Bank borrowings and overdrafts	7,178	9,065
Taxation and social security	149,950	102,091
Other creditors	821,241	591,555
Accrued liabilities and deferred income	32,684	56,561
Total	1,028,692	780,231

8.	Provisions for liabilities
	Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Balance sheet.

	2025	2024
	£	£
Net deferred tax liability (asset)	15,881	18,824
Total	15,881	18,824

9.	Financial instruments
	Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

10.	Pension commitments
	The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,062 (2024 - £25,763). Contributions totaling £1,670 (2024 - £2,712) were payable to the fund at the balance sheet date and are included in creditors.

10.

Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £28,062 (2024 - £25,763).  Contributions totaling £1,670 (2024 - £2,712) were payable to the fund at the balance sheet date and are included in creditors.

11.	Related party transactions
	During the year the company entered into transactions, in the ordinary course of business with other related parties. Transactions entered into and trading balances outstanding at 31 March 2025, are as follows: Terms and conditions of transactions with related parties Sales and purchases between related parties are made at normal market prices. Outstanding balances with entities are unsecured, interest is payable at a rate of 0% to 20% and cash settlement is expected within 60 days of invoice. The Company has not provided or benefited from any guarantees for any related party receivables or payables. During the period ended 31 March 2025, the Company has not made any provision for doubtful debts relating to amounts owed by related parties (2024: £nil). Key management personnel All directors who have authority and responsibility for planning, directing and controlling the activities of the Company are considered to be key management personnel. Total payments in respect of these individuals is £203,017 (2024: £111,418). At the balance sheet date, the company balance owed to key management personnel is £279,929 (2024: £99,427).

11.

Related party transactions

During the year the company entered into transactions, in the ordinary course of business with other related parties. Transactions entered into and trading balances outstanding at 31 March 2025, are as follows:

Terms and conditions of transactions with related parties
Sales and purchases between related parties are made at normal market prices. Outstanding balances with entities are unsecured, interest is payable at a rate of 0% to 20% and cash settlement is expected within 60 days of invoice. The Company has not provided or benefited from any guarantees for any related party receivables or payables. During the period ended 31 March 2025, the Company has not made any provision for doubtful debts relating to amounts owed by related parties (2024: £nil). 

Key management personnel
All directors who have authority and responsibility for planning, directing and controlling the activities of the Company are considered to be key management personnel. Total payments in respect of these individuals is £203,017 (2024: £111,418). At the balance sheet date, the company balance owed to key management personnel is £279,929 (2024: £99,427).

12.	Controlling party
	No individual shareholder holds a majority of voting rights. Therefore, there is no ultimate controlling party by virtue of shareholding.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		63,525		76,173
Investments	5		2		2
			63,527		76,175
Current assets
Debtors	6	749,583		684,177
Cash at bank and on hand		450,481		213,487
		1,200,064		897,664
Creditors amounts falling due within one year	7	(1,028,692)		(780,231)
Net current assets (liabilities)			171,372		117,433
Total assets less current liabilities			234,899		193,608
Provisions for liabilities	8		(15,881)		(18,824)
Net assets			219,018		174,784
Capital and reserves
Called up share capital			104		104
Profit and loss account			218,914		174,680
Shareholders' funds			219,018		174,784