Lisburn Auto Salvage Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI603743

LISBURN AUTO SALVAGE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 April 2025

LISBURN AUTO SALVAGE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2025

CONTENTS	PAGE

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

LISBURN AUTO SALVAGE LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LISBURN AUTO SALVAGE LIMITED

YEAR ENDED 30 APRIL 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 30 April 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 & COMPANY LTD. Chartered Accountants

23 Church Place, Lurgan, Co. Armagh. N. Ireland BT66 6EY

10 December 2025

LISBURN AUTO SALVAGE LIMITED

STATEMENT OF FINANCIAL POSITION

30 April 2025

	2025		2024
Note	£	£	£

FIXED ASSETS

Intangible assets	7	36,582	42,779
Tangible assets	8	1,645,520	1,532,072
		------------	------------
		1,682,102	1,574,851

CURRENT ASSETS

Stocks		869,922	1,029,536
Debtors	9	167,385	153,553
Cash at bank and in hand		2,028,182	1,742,743
		------------	------------
		3,065,489	2,925,832

CREDITORS: amounts falling due within one year	10	443,778		518,958
		------------		------------
NET CURRENT ASSETS			2,621,711	2,406,874
			------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES			4,303,813	3,981,725

PROVISIONS

Taxation including deferred tax	116,632	115,769
	------------	------------
NET ASSETS	4,187,181	3,865,956
	------------	------------

CAPITAL AND RESERVES

Called up share capital	12	20,000	20,000
Profit and loss account		4,167,181	3,845,956
		------------	------------
SHAREHOLDERS FUNDS		4,187,181	3,865,956
		------------	------------

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 comprehensive income has not been delivered.

For the year ending 30 April 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 .

LISBURN AUTO SALVAGE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 10 December 2025 , and are signed on behalf of the board by:

Mr J Black	Mrs C Black
Director	Director

Company registration number: NI603743

LISBURN AUTO SALVAGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 APRIL 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 2C Old Road, Ballinderry Upper, Lisburn, Co. Antrim, BT28 2NJ, N. Ireland.

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 the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

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:

Vans & Lorries	-	25% reducing balance
Plant & Machinery	-	20% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance

	Office Equipment	-	15% 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

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 24 (2024: 21 ).

5. TAX ON PROFIT

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	172,199	260,858

Deferred tax:

Origination and reversal of timing differences	863	( 25,803)
	---------	---------
Tax on profit	173,062	235,055
	---------	---------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is lower than (2024: lower than) the standard rate of corporation tax in the UK of 25 % (2024: 25 %).

	2025	2024
	£	£
Profit on ordinary activities before taxation	714,287	957,860
	---------	---------
Profit on ordinary activities by rate of tax	178,572	239,465
Effect of expenses not deductible for tax purposes	250	250
Effect of capital allowances and depreciation	( 6,623)	21,143
Deferred tax	863	( 25,803)
	---------	---------
Tax on profit	173,062	235,055
	---------	---------

6. DIVIDENDS

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Dividends on equity shares	220,000	270,000
	---------	---------

7. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 May 2024 and 30 April 2025	123,934
	---------
Amortisation
At 1 May 2024	81,155
Charge for the year	6,197
	---------
At 30 April 2025	87,352
	---------
Carrying amount
At 30 April 2025	36,582
	---------
At 30 April 2024	42,779
	---------

8. TANGIBLE ASSETS

	Land and buildings	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 May 2024	1,106,535	715,874	130,527	249,458	2,202,394
Additions	313,084	3,110	3,792	–	319,986
Disposals	( 3,078)	( 80,649)	–	( 70,600)	( 154,327)
	------------	---------	---------	---------	------------
At 30 April 2025	1,416,541	638,335	134,319	178,858	2,368,053
	------------	---------	---------	---------	------------
Depreciation
At 1 May 2024	195,100	342,717	74,350	58,155	670,322
Charge for the year	61,532	71,025	8,994	13,005	154,556
Disposals	( 2,021)	( 59,508)	–	( 40,816)	( 102,345)
	------------	---------	---------	---------	------------
At 30 April 2025	254,611	354,234	83,344	30,344	722,533
	------------	---------	---------	---------	------------
Carrying amount
At 30 April 2025	1,161,930	284,101	50,975	148,514	1,645,520
	------------	---------	---------	---------	------------
At 30 April 2024	911,435	373,157	56,177	191,303	1,532,072
	------------	---------	---------	---------	------------

Land on which the premises has been erected is not owned by the company.

9. DEBTORS

	2025	2024
	£	£
Trade debtors	125,353	117,143
Other debtors	42,032	36,410
	---------	---------
	167,385	153,553
	---------	---------

10. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	619	2,136
Trade creditors	65,960	37,302
Corporation tax	172,199	260,833
Social security and other taxes	123,088	118,620
Other creditors	81,912	100,067
	---------	---------
	443,778	518,958
	---------	---------

11. FINANCIAL INSTRUMENTS

Interest on the Hire purchase agreement has been calculated using a straight-line approach over the life of the loan. Using an amortised cost approach with an effective interest rate is immaterially different from the straight-line approach.

12. CALLED UP SHARE CAPITAL

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary A shares of £ 1 each	9,000	9,000	9,000	9,000
Ordinary B shares of £ 1 each	9,000	9,000	9,000	9,000
Ordinary C shares of £ 1 each	1,000	1,000	1,000	1,000
Ordinary D shares of £ 1 each	1,000	1,000	1,000	1,000
	--------	--------	--------	--------
	20,000	20,000	20,000	20,000
	--------	--------	--------	--------

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end a balance of £29,769.61 is owed to the directors by the company. Interest on overdrawn balances during the year has been charged at the official rate.

14. RELATED PARTY TRANSACTIONS

No amounts were owed to the company from related parties at the year end.