Company Registration No. NI035348 (Northern Ireland)
Speedy Registrations Company Limited
Companies House accounts
for the year ended 30 April 2025
Speedy Registrations Company Limited
Companies House accounts
Contents
Speedy Registrations Company Limited
Company Information
for the year ended 30 April 2025
Directors
Desmond P Elton
Brigitte Elton
Secretary
Mrs Brigitte Elton
Company Number
NI035348 (Northern Ireland)
Registered Office
Millwood
Lisbellaw
Enniskillen
Co Fermanagh
BT94 5HQ
N Ireland
Accountants
Allan Montgomery & Co
100 Main Street
Fivemiletown
Co Tyrone
BT75 0PW
Speedy Registrations Company Limited
Statement of financial position
as at 30 April 2025
Tangible assets
234,110
238,640
Inventories
2,816,650
2,758,047
Cash at bank and in hand
175,243
132,357
Creditors: amounts falling due within one year
(767,827)
(737,260)
Net current assets
2,243,072
2,170,309
Total assets less current liabilities
2,477,182
2,408,949
Provisions for liabilities
Deferred tax
(8,527)
(8,639)
Net assets
2,468,655
2,400,310
Called up share capital
200
200
Profit and loss account
2,468,455
2,400,110
Shareholders' funds
2,468,655
2,400,310
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2026 and were signed on its behalf by
Desmond P Elton
Director
Company Registration No. NI035348
Speedy Registrations Company Limited
Notes to the Accounts
for the year ended 30 April 2025
Speedy Registrations Company Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI035348. The registered office is Millwood, Lisbellaw, Enniskillen, Co Fermanagh, BT94 5HQ, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover and income recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Income is recognised when goods and services have been provided to customers such that risks and rewards of ownership have been transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% reducing balance
Plant & machinery
15% reducing balance
Motor vehicles
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Speedy Registrations Company Limited
Notes to the Accounts
for the year ended 30 April 2025
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as rentals are incurred.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 May 2024
309,048
97,608
41,239
447,895
Additions
-
-
22,690
22,690
Disposals
-
-
(30,500)
(30,500)
At 30 April 2025
309,048
97,608
33,429
440,085
At 1 May 2024
104,966
81,527
22,762
209,255
Charge for the year
4,082
2,412
5,110
11,604
On disposals
-
-
(14,884)
(14,884)
At 30 April 2025
109,048
83,939
12,988
205,975
At 30 April 2025
200,000
13,669
20,441
234,110
At 30 April 2024
204,082
16,081
18,477
238,640
Amounts falling due within one year
Trade debtors
19,006
17,165
6
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
19,872
3,694
Trade creditors
5,397
8,879
Taxes and social security
23,871
66,987
Other creditors
5,414
3,966
Loans from directors
661,268
653,734
Creditors due within one year include directors' loans £661,268 (2024 : £653,734)
Speedy Registrations Company Limited
Notes to the Accounts
for the year ended 30 April 2025
7
Deferred taxation
2025
2024
Accelerated capital allowances
8,527
8,639
Provision at start of year
8,639
7,812
(Credited)/charged to the profit and loss account
(112)
827
Provision at end of year
8,527
8,639
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
9
Transactions with related parties
The company uses premises owned by the Directors for which they are paid a rent set at commercial rates on an arm's length basis. The amount of rent incurred for the year was £12,000.
10
Average number of employees
During the year the average number of employees was 11 (2024: 10).