REGISTERED NUMBER: NI044495 (Northern Ireland)

SETANTA LTD

Unaudited Financial Statements for the Year Ended 30 April 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mark Gribbin

Niall Gribbin

REGISTERED OFFICE:

Ronan Valley Business Park

58-60 Ballyronan Road

Magherafelt

Co. Derry

BT45 6EW

REGISTERED NUMBER:

NI044495 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Intangible assets

5

-

-

Property, plant and equipment

6

71,204

33,020

71,204

33,020

CURRENT ASSETS

Inventories

686,850

818,894

Receivables

7

231,681

89,354

Cash at bank

191,179

70,527

1,109,710

978,775

PAYABLES

Amounts falling due within one year

8

(446,799

)

(307,678

)

NET CURRENT ASSETS

662,911

671,097

TOTAL ASSETS LESS CURRENT LIABILITIES

734,115

704,117

PAYABLES

Amounts falling due after more than one year

9

(61,335

)

-

PROVISIONS FOR LIABILITIES

(7,869

)

(7,869

)

NET ASSETS

664,911

696,248

CAPITAL AND RESERVES

Called up share capital

10

10,000

10,000

Retained earnings

654,911

686,248

SHAREHOLDERS' FUNDS

664,911

696,248

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

Mark Gribbin - Director

Niall Gribbin - Director

1.	STATUTORY INFORMATION

Setanta 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The Financial Statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant & machinery

- 20% straight line

Fixtures & fittings

- 20% straight line

Motor vehicles

- 25% straight line

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories and Work in Progress are valued at the lower of cost and net realisable value. Cost in respect of finished goods represents direct materials, direct labour and a proportion of appropriate overheads. Net realisable value is the price at which inventory can be realised in the normal course of business. Provision is made where necessary for obsolete, slow moving and defective inventory.

Work in Progress is valued on the basis of direct costs plus attributable overheads based on normal activity. Provisions are made for any foreseeable losses where appropriate. No element of profit is included in the valuation of Work in Progress.

Taxation

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

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 or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within current liabilities.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt.

Share capital

Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2024 - 16 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2024

and 30 April 2025

14,922

AMORTISATION

At 1 May 2024

and 30 April 2025

14,922

NET BOOK VALUE

At 30 April 2025

-

At 30 April 2024

-

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 May 2024

-

357,603

28,573

113,333

499,509

Additions

1,068

17,698

1,164

87,000

106,930

Revaluations

-

(22,065

)

-

-

(22,065

)

At 30 April 2025

1,068

353,236

29,737

200,333

584,374

DEPRECIATION

At 1 May 2024

-

336,427

21,109

108,953

466,489

Charge for year

-

9,453

5,856

31,372

46,681

At 30 April 2025

-

345,880

26,965

140,325

513,170

NET BOOK VALUE

At 30 April 2025

1,068

7,356

2,772

60,008

71,204

At 30 April 2024

-

21,176

7,464

4,380

33,020

Cost or valuation at 30 April 2025 is represented by:

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2025

1,068

353,236

29,737

200,333

584,374

7.	RECEIVABLES

2025

2024

£

£

Trade receivables

58,149

40,178

Amounts owed by group undertakings

169,873

-

Other receivables

3,659

49,176

231,681

89,354

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

15,660

2,507

Trade payables

176,637

223,079

Amounts owed to group undertakings

222,442

58,278

Taxation and social security

10,236

1,544

Other payables

21,824

22,270

446,799

307,678

9.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2025

2024

£

£

Hire purchase contracts

61,335

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

10,000

Ordinary

1

10,000

10,000

11.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.