REGISTERED NUMBER: NI642779 (Northern Ireland)

Drink Store (Maghaberry) Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2025

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

7

Directors:

Mr A Hendron

Mrs C Heaney

Registered office:

23 Maghaberry Road

Moira

Craigavon

Co Armagh

BT67 0JF

Registered number:

NI642779 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Property, plant and equipment

4

28,779

33,174

Current assets

Inventories

5

65,896

68,337

Receivables

6

2,464

2,698

Cash at bank and in hand

74,339

82,141

142,699

153,176

Payables

Amounts falling due within one year

7

(113,781

)

(110,521

)

Net current assets

28,918

42,655

Total assets less current liabilities

57,697

75,829

Provisions for liabilities

8

(4,698

)

(5,488

)

Net assets

52,999

70,341

Capital and reserves

Called up share capital

9

100

100

Retained earnings

10

52,899

70,241

Shareholders' funds

52,999

70,341

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2025 and were signed on its behalf by:

Mr A Hendron - Director

Mrs C Heaney - Director

1.	Statutory information

Drink Store (Maghaberry) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

4% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

straight line over 3 years

Inventories

Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

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 the Income Statement in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position 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 Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets

The annual depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3.	Employees and directors

The average number of employees during the year was 6 (2024 - 5 ) .

4.	Property, plant and equipment

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2024

5,965

25,708

61,404

7,240

100,317

Additions

-

-

-

208

208

At 31 March 2025

5,965

25,708

61,404

7,448

100,525

Depreciation

At 1 April 2024

1,673

17,466

41,334

6,670

67,143

Charge for year

239

1,236

3,011

117

4,603

At 31 March 2025

1,912

18,702

44,345

6,787

71,746

Net book value

At 31 March 2025

4,053

7,006

17,059

661

28,779

At 31 March 2024

4,292

8,242

20,070

570

33,174

5.	Inventories

2025

2024

£

£

Goods for resale

65,896

68,337

6.	Receivables: amounts falling

due within one year

2025

2024

£

£

Prepayments

2,464

2,698

7.

Payables: amounts falling due within one year

2025

2024

£

£

Trade payables

40,963

46,207

Taxation and social security

7,931

10,344

Other payables

64,887

53,970

113,781

110,521

Included within other payables is an amount of £55,868 (2024: £45,691) owing to the directors, Mr A Hendron and Mrs C Heaney. This loan does not bear interest and is repayable on demand.

8.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Accelerated capital allowances

4,698

5,488

Deferred tax

£

Balance at 1 April 2024

5,488

Credit to Statement of income and retained earnings during year

(790

)

Balance at 31 March 2025

4,698

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary shares

1

100

100

10.

Reserves

Retained

earnings

£

At 1 April 2024

70,241

Profit for the year

23,568

Dividends

(40,910

)

At 31 March 2025

52,899

11.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

Mrs C Heaney and Mr A Hendron

Balance outstanding at start of year

45,691

30,357

Amounts advanced

42,876

44,876

Amounts repaid

(32,699

)

(29,542

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

55,868

45,691