REGISTERED NUMBER: R0000617 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 December 2025

for

R. G. Laughlin & Sons, Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr A M Campbell

REGISTERED OFFICE:

145-151 Dargan Crescent

Belfast

BT3 9JP

REGISTERED NUMBER:

R0000617 (Northern Ireland)

ACCOUNTANTS:

BMK Accounting Limited

43 Lockview Road

Belfast

Antrim

BT9 5FJ

FIXED ASSETS

Intangible assets

5

4,500

-

Tangible assets

6

45,976

46,419

50,476

46,419

CURRENT ASSETS

Stocks

563,631

598,820

Debtors

7

397,679

382,504

Cash at bank and in hand

1,766,767

1,572,030

2,728,077

2,553,354

CREDITORS

Amounts falling due within one year

8

463,653

369,745

NET CURRENT ASSETS

2,264,424

2,183,609

TOTAL ASSETS LESS CURRENT LIABILITIES

2,314,900

2,230,028

CAPITAL AND RESERVES

Called up share capital

12,000

12,000

Capital redemption reserve

71,194

71,194

Retained earnings

2,231,706

2,146,834

2,314,900

2,230,028

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 director acknowledges his 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 director and authorised for issue on 9 July 2026 and were signed by:

Mr A M Campbell - Director

1.	STATUTORY INFORMATION

R. G. Laughlin & Sons, 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.	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 have been prepared under the historical cost convention.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that area believed to be reasonable under the circumstances.

Revenue recognition

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

Intangible assets - website development costs

Costs directly attributable to the development of the company's website are capitalised as an intangible asset where the project is technically feasible, management intends to complete and use the website, and the expenditure is expected to generate future economic benefits. Development costs include external contractor fees and directly attributable employee costs incurred during the development phase.

Capitalised website development costs are amortised on a straight-line basis over their estimated useful economic life of 10 years. Amortisation commences in the year the website is available for use. The asset is reviewed for impairment where indicators of impairment exist.

The company incurred expenditure in relation to the development of a new website during the year. As the expenditure met the recognition criteria for development costs under FRS 102, the costs have been capitalised as an intangible asset.

Tangible fixed assets

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

Long leasehold

-

10% on reducing balance

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

10% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging

relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

5.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

5,000

At 31 December 2025

5,000

AMORTISATION

Amortisation for year

500

At 31 December 2025

500

NET BOOK VALUE

At 31 December 2025

4,500

6.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2025

197,693

42,440

90,887

331,020

Additions

-

-

8,592

8,592

At 31 December 2025

197,693

42,440

99,479

339,612

DEPRECIATION

At 1 January 2025

176,478

24,482

83,641

284,601

Charge for year

2,122

4,490

2,423

9,035

At 31 December 2025

178,600

28,972

86,064

293,636

NET BOOK VALUE

At 31 December 2025

19,093

13,468

13,415

45,976

At 31 December 2024

21,215

17,958

7,246

46,419

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

336,560

333,068

Other debtors

61,119

49,436

397,679

382,504

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

130,113

91,547

Amounts owed to group undertakings

224,508

209,357

Taxation and social security

89,283

49,713

Other creditors

19,749

19,128

463,653

369,745

9.	SECURED DEBTS

Ulster Bank Ltd hold a mortgage debenture charge over the assets of the company.

10.	RELATED PARTY DISCLOSURES

The company is a wholly owned subsidiary of J.H.C. Hardware Limited, a company incorporated in Northern Ireland, which is in turn controlled by Mr A Campbell the managing director of the company. Mr A Campbell and Mr D McMullan were also directors of J.H.C. Hardware Limited during the period. Mrs M Campbell was Company Secretary and Director of J.H.C Hardware Limited during the period.

As a wholly owned subsidiary, no transactions with the group company were undertaken such as are required to be disclosed under FRS 102.

The company rents premises from the directors' pension scheme. Rent paid during the year amounts to £72,000 (2024 - £72,000).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is J.H.C Hardware Limited.