REGISTERED NUMBER: NI602524 (Northern Ireland)

for

Page

Company Information  

1

Group Strategic Report  

2

Report of the Directors  

3

Report of the Independent Auditors  

5

Consolidated Income Statement  

8

Consolidated Other Comprehensive Income  

9

Consolidated Balance Sheet  

10

Company Balance Sheet  

11

Consolidated Statement of Changes in Equity  

12

Company Statement of Changes in Equity  

13

Consolidated Cash Flow Statement  

14

Notes to the Consolidated Cash Flow Statement

15

Notes to the Consolidated Financial Statements

16

DIRECTORS:

M Simpson

Mrs A Simpson

H Moore

REGISTERED OFFICE:

9 Castlewellan Road

Rathfriland

Co. Down

BT34 5LY

REGISTERED NUMBER:

NI602524 (Northern Ireland)

AUDITORS:

Farrell & Farrell

35 Main St

Hilltown

Newry

Co. Down

BT34 5UJ

The directors present their strategic report of the company and the group for the year ended 31 May 2025.

REVIEW OF BUSINESS

The results for the period and the financial position at the period end were considered satisfactory by the directors.

PRINCIPAL RISKS AND UNCERTAINTIES

The group's operations expose it to a variety of financial risks that include currency risk and liquidity risk.  The group has in place a risk management programme that seeks to limit adverse effects in its financial performance.  The policies set out by the directors are implemented by the company's management team.

ON BEHALF OF THE BOARD:

M Simpson - Director

22 May 2026

The directors present their report with the financial statements of the company and the group for the year ended 31 May 2025.

DIVIDENDS

The total distribution of dividends paid during the year ended 31 May 2025 was £360,000.

FUTURE DEVELOPMENTS

The group plans to continue its present activities and current trading levels.  Employees are kept as fully informed as practicable about developments within the business.

The group is committed to pursuing equality and diversity in all its employment activities to ensure that the recruitment, training, career development and promotion of disabled persons should as far as possible be identical to that of other employees.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 June 2024 to the date of this report.

M Simpson

Mrs A Simpson

H Moore

FINANCIAL INSTRUMENTS

Financial risk management objectives and policies

The group uses financial instruments throughout its business.  The core risks associated with the group's financial instruments are currency risk and liquidity risk.  The board reviews and agrees policies for the prudent management of these risks as follows:

Currency risk

The group's objective is to minimise the impact of currency volatility and fluctuations.  Variances affecting operational activities in this regard are reflected in operating costs in the profit and loss account in the years in which they arise. The group manages, where practical and cost effective, to partially hedge the foreign currency impact.

Liquidity and cash flow risk

The group's objective is to maintain a balance between the continuity of funding and flexibility through the use of borrowings with a range of maturities when necessary.  The group's policy is to ensure that sufficient resources are available either from cash balances, cash flows and near cash liquid investments to ensure all obligations can be met when they fall due.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.  In preparing these financial statements, the directors are required to:

-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS

The auditors,  Farrell & Farrell, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

M Simpson - Director

22 May 2026

Opinion

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report.  We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.  We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-

the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-

the parent company financial statements are not in agreement with the accounting records and returns; or

-

certain disclosures of directors' remuneration specified by law are not made; or

-

we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jayme Farrell (Senior Statutory Auditor)

for and on behalf of Farrell & Farrell

35 Main St

Hilltown

Newry

Co. Down

BT34 5UJ

22 May 2026

TURNOVER

17,558,214

16,465,867

Cost of sales

3,250,017

3,103,850

GROSS PROFIT

14,308,197

13,362,017

Administrative expenses

12,080,716

12,953,225

2,227,481

408,792

Other operating income

15,696

1,622,538

OPERATING PROFIT

4

2,243,177

2,031,330

Interest receivable and similar income

4,130

1,958

2,247,307

2,033,288

Interest payable and similar expenses

5

326,085

468,298

PROFIT BEFORE TAXATION

1,921,222

1,564,990

Tax on profit

6

383,458

247,753

PROFIT FOR THE FINANCIAL YEAR

1,537,764

1,317,237

Profit attributable to:

Owners of the parent

1,537,764

1,317,237

PROFIT FOR THE YEAR

1,537,764

1,317,237

OTHER COMPREHENSIVE INCOME  

Consolidation translation

(31,532

)

(22,292

)

Income tax relating to other comprehensive

income

-

-

OTHER COMPREHENSIVE INCOME

FOR THE YEAR, NET OF INCOME TAX

(31,532

)

(22,292

)

TOTAL COMPREHENSIVE INCOME

FOR THE YEAR

1,506,232

1,294,945

Total comprehensive income attributable to:

Owners of the parent

1,506,232

1,294,945

FIXED ASSETS

Intangible assets

9

955,102

1,081,096

Tangible assets

10

7,075,382

6,843,695

Investments

11

-

-

8,030,484

7,924,791

CURRENT ASSETS

Stocks

12

244,807

214,046

Debtors

13

1,111,760

1,166,600

Cash at bank and in hand

1,834,115

1,370,159

3,190,682

2,750,805

CREDITORS

Amounts falling due within one year

14

3,486,502

3,707,811

NET CURRENT LIABILITIES

(295,820

)

(957,006

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

7,734,664

6,967,785

CREDITORS

Amounts falling due after more than one

year

15

(2,309,540

)

(2,917,631

)

PROVISIONS FOR LIABILITIES

19

(636,496

)

(407,758

)

NET ASSETS

4,788,628

3,642,396

CAPITAL AND RESERVES

Called up share capital

20

66

66

Retained earnings

21

4,788,562

3,642,330

SHAREHOLDERS' FUNDS

4,788,628

3,642,396

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

M Simpson - Director

Mrs A Simpson - Director

FIXED ASSETS

Intangible assets

9

25

1,445

Tangible assets

10

144,292

149,601

Investments

11

586

586

144,903

151,632

CURRENT ASSETS

Stocks

12

3,322

6,338

Debtors

13

2,902,954

1,911,137

Cash at bank

42,737

37,381

2,949,013

1,954,856

CREDITORS

Amounts falling due within one year

14

1,742,491

1,243,889

NET CURRENT ASSETS

1,206,522

710,967

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,351,425

862,599

CREDITORS

Amounts falling due after more than one

year

15

(339,713

)

(684,181

)

PROVISIONS FOR LIABILITIES

19

(1,892

)

(2,126

)

NET ASSETS

1,009,820

176,292

CAPITAL AND RESERVES

Called up share capital

20

66

66

Retained earnings

21

1,009,754

176,226

SHAREHOLDERS' FUNDS

1,009,820

176,292

Company's profit for the financial year

1,193,528

198,939

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

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2026 and were signed on its behalf by:

Mrs A Simpson - Director

M Simpson - Director

Called up

share

Retained

Total

capital

earnings

equity

£   

£   

£   

Balance at 1 June 2023

66

2,647,385

2,647,451

Changes in equity

Dividends

-

(300,000

)

(300,000

)

Total comprehensive income

-

1,294,945

1,294,945

Balance at 31 May 2024

66

3,642,330

3,642,396

Changes in equity

Dividends

-

(360,000

)

(360,000

)

Total comprehensive income

-

1,506,232

1,506,232

Balance at 31 May 2025

66

4,788,562

4,788,628

Called up

share

Retained

Total

capital

earnings

equity

£   

£   

£   

Balance at 1 June 2023

66

277,287

277,353

Changes in equity

Dividends

-

(300,000

)

(300,000

)

Total comprehensive income

-

198,939

198,939

Balance at 31 May 2024

66

176,226

176,292

Changes in equity

Dividends

-

(360,000

)

(360,000

)

Total comprehensive income

-

1,193,528

1,193,528

Balance at 31 May 2025

66

1,009,754

1,009,820

Cash flows from operating activities

Cash generated from operations

1

3,853,300

3,947,251

Interest paid

(320,674

)

(458,307

)

Interest element of hire purchase payments

paid

(5,411

)

(9,991

)

Tax paid

(298,881

)

(263,777

)

Net cash from operating activities

3,228,334

3,215,176

Cash flows from investing activities

Purchase of tangible fixed assets

(1,628,862

)

(1,875,211

)