REGISTERED NUMBER: NI042161 (Northern Ireland)

GA Allen Limited

Unaudited Financial Statements

for the Year Ended 31 December 2025

Page

Company information

1

Statement of financial position

2

to

3

Notes to the financial statements

4

to

8

Directors:

Mr I Allen

Mrs R Allen

Mr N Allen

Secretary:

Mrs R Allen

Registered office:

131 Grovehill Road

Banbridge

Co Down

BT32 5AB

Registered number:

NI042161 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Intangible assets

4

-

-

Property, plant and equipment

5

196,436

154,071

196,436

154,071

Current assets

Inventories

2,297,716

2,875,870

Receivables

6

550,335

737,542

Cash at bank

2,030,060

1,133,579

4,878,111

4,746,991

Payables

Amounts falling due within one year

7

(2,051,177

)

(2,069,199

)

Net current assets

2,826,934

2,677,792

Total assets less current liabilities

3,023,370

2,831,863

Payables

Amounts falling due after more than one year

8

(115,614

)

(144,000

)

Provisions for liabilities

9

(45,898

)

(33,091

)

Net assets

2,861,858

2,654,772

Capital and reserves

Called up share capital

10

1,000

1,000

Retained earnings

2,860,858

2,653,772

Shareholders' funds

2,861,858

2,654,772

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 28 May 2026 and were signed on its behalf by:

Mr I Allen - Director

1.	Statutory information

GA Allen Limited 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, has been amortised evenly over its estimated useful life of five years.

Property,plant and equipment

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

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.

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.

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 and 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 lability simultaneously.

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.

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.

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 Statement of Income and Retained Earnings 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 intangible and tangible assets

The annual depreciation and amortisation charges for intangible and tangible assets is 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 Intangible Fixed Assets note and 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 11 (2024 - 12 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 January 2025

and 31 December 2025

500,000

Amortisation

At 1 January 2025

and 31 December 2025

500,000

Net book value

At 31 December 2025

-

At 31 December 2024

-

5.	Property, plant and equipment

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 January 2025

117,199

48,123

197,407

362,729

Additions

5,645

-

85,500

91,145

Disposals

-

-

(18,992

)

(18,992

)

At 31 December 2025

122,844

48,123

263,915

434,882

Depreciation

At 1 January 2025

71,417

34,868

102,373

208,658

Charge for year

11,563

2,651

32,031

46,245

Eliminated on disposal

-

-

(16,457

)

(16,457

)

At 31 December 2025

82,980

37,519

117,947

238,446

Net book value

At 31 December 2025

39,864

10,604

145,968

196,436

At 31 December 2024

45,782

13,255

95,034

154,071

6.	Receivables: amounts falling

due within one year

2025

2024

£

£

Trade receivables

522,658

712,856

Other receivables

27,677

24,686

550,335

737,542

7.

Payables: amounts falling due within one year

2025

2024

£

£

Trade payables

364,389

158,980

Taxation and social security

115,110

191,654

Other payables

1,571,678

1,718,565

2,051,177

2,069,199

Included within other payables is an amount of £334,628 (2024: £407,416 ) repayable to the directors. The loan is interest free and repayable on demand.

Also included within other payables is a loan of £38,100 (2024: £36,000) from the Allen Family Pension Fund. The total loan outstanding at year end is £153,714 (2024: £180,000) and is repayable by instalments over the remaining term of 4 years with commercial interest being charged. The loan is secured on farmland which is owned by Mr Ivan and Mrs Rosemary Allen.

8.	Payables: amounts falling

due after more than one year

2025

2024

£

£

Other payables

115,614

144,000

Other payables is a loan of £115,614 (2024: £144,000) from the Allen Family Pension Fund. The total loan outstanding at year end is £153,714 (2024: £180,000) in total and is repayable by instalments over the remaining term of 4 years with commercial interest being charged. The loan is secured on farmland which is owned by Mr Ivan and Mrs Rosemary Allen.

9.	Provisions for liabilities

2025

2024

£

£

Deferred tax

Accelerated capital allowances

45,898

33,091

Deferred tax

£

Balance at 1 January 2025

33,091

Charge to Statement of income and retained earnings during year

12,807

Balance at 31 December 2025

45,898

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1,000

Ordinary Shares

£1

1,000

1,000

11.	Directors' advances, credits and guarantees

The following loans to the company from the directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

Mr I Allen and Mrs R Allen

Balance outstanding at start of year

114,090

282,074

Amounts advanced

2,800

2,800

Amounts repaid

(25,588

)

(170,784

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

91,302

114,090

Mr N Allen

Balance outstanding at start of year

293,326

178,826

Amounts advanced

4,500

154,500

Amounts repaid

(54,500

)

(40,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

243,326

293,326

12.	Leasing agreements

The company commenced a rental lease of premises at 131 Grovehill Road on February 2019 for a period of 5 years. This lease has now expired, however, the terms still apply until the new lease agreement has been finalised. Normal commercial terms including the current rent payable £10,000 per annum applies to the rental agreement. This is not considered to be a non cancellable lease.