The Good Trading And Sourcing Company N.I Limited iXBRL

The Good Trading And Sourcing Company N.I Limited

Abridged Unaudited Financial Statements

for the financial year ended 31 December 2025

The Good Trading And Sourcing Company N.I Limited

Company Registration Number: NI695717

ABRIDGED BALANCE SHEET

as at 31 December 2025

		2025	2024
	Notes	€	€

Current Assets

Stocks

784,858

434,893

Debtors

105,716

132,504

Cash and cash equivalents

28,627

23,468

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919,201

590,865

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Creditors: amounts falling due within one year

(864,608)

(580,637)

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Net Current Assets

54,593

10,228

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Total Assets less Current Liabilities

54,593

10,228

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Capital and Reserves

Called up share capital

112

112

Retained earnings

54,481

10,116

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Equity attributable to owners of the company

54,593

10,228

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The financial statements have been prepared 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).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 17 September 2026 and signed on its behalf by



________________________________			________________________________
Michael Murphy			Sarah Murphy
Director			Director

The Good Trading And Sourcing Company N.I Limited

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 December 2025

General Information

The Good Trading And Sourcing Company N.I Limited is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI695717. The registered office of the company is 10 Nicholsons Road, Kilkeel, Newry, Co Down, BT34 4JN, United Kingdom which is also the principal place of business of the company. The principal activity if the company is the wholesale of clothing and footwear. The financial statements have been presented in Euro (€) which is also the functional currency of the company.

The financial statements cover the individual entity for the financial year ended 31st December 2025.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Exceptional item

Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.

Employees

The average monthly number of employees, including directors, during the financial year was 0 (2024 - 0).

Parent company

The company regards The Good Trading And Souring Company Limited as its parent company. The companys ultimate parent undertaking is The Good Trading And Sourcing Company Limited. The address of The Good Trading And Sourcing Limited is 2 Shenick Road, Sherries, Co Dublin, K34 AT82.