Registration number: NI027399

E.A. Lonergan Ltd

(Registration number: NI027399)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,100,156	2,100,218
Investment property		325,000	-
		2,425,156	2,100,218
Current assets
Debtors	5	32,332	14,896
Cash at bank and in hand		132,111	66,943
		164,443	81,839
Creditors: due within one year	6	(109,001)	(71,778)
Net current assets		55,442	10,061
Total assets less current liabilities		2,480,598	2,110,279
Creditors: due after more than one year	7	(1,539,665)	(1,571,612)
Provisions for liabilities		(4,700)	(55)
Net assets		936,233	538,612
Capital and reserves
Called up share capital	8	2	2
Retained earnings		936,231	538,610
Shareholders' funds		936,233	538,612

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

E.A. Lonergan Ltd

(Registration number: NI027399)
Balance Sheet as at 31 March 2025

Approved and authorised by the Board on 15 December 2025 and signed on its behalf by:
 

.............................................. Mr Edward Aidan Lonergan Director

.............................................. Mrs Ciara Teresa Lewis Director

E.A. Lonergan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 4 Annadale Avenue, Belfast, BT7 3JH.

These financial statements were authorised for issue by the Board on 15 December 2025.

2	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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

Rental income

Rental income is recognised on a straight-line basis over the lease term. The aggregate costs of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.

Government grants

Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable.

Investment property

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

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.

E.A. Lonergan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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:

Asset class	Depreciation method and rate
Equipment	20% per year straight line basis

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

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, or if the likelihood of earlier settlement is remote.

Taxation

Current 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.

Deferred tax is provided in respect of all timing differences at the balance sheet. Timing differences are differences between the Company’s taxable profit and its results stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax assets and liabilities are not discounted.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

E.A. Lonergan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Investment property £	Equipment  £	Total £
Valuation/cost
At 1 April 2024	2,100,000	1,564	2,101,564
At 31 March 2025	2,100,000	1,564	2,101,564
Depreciation
At 1 April 2024	-	1,346	1,346
Charge for the year	-	62	62
At 31 March 2025	-	1,408	1,408
Valuation/cost
At 31 March 2025	2,100,000	156	2,100,156
At 31 March 2024	2,100,000	218	2,100,218

5

Debtors

	2025 £	2024 £
Trade debtors	109	-
Prepayments	209	202
Other debtors	32,014	14,694
	32,332	14,896

6	Creditors: due within one year

	2025 £	2024 £
Bank loans and overdrafts	37,000	20,000
Other creditors	44,705	33,855
Accruals and deferred income	27,296	17,923
	109,001	71,778

E.A. Lonergan Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7	Creditors: due after more than one year

	2025 £	2024 £
Bank borrowings	311,645	343,592
Shareholders loans	1,228,020	1,228,020
	1,539,665	1,571,612

The bank loan is secured by way of a fixed charge over the Company’s investment properties.

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2