Shanmar Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI042758

Shanmar Ltd

Filleted Unaudited Financial Statements

For the year ended

31 March 2026

Shanmar Ltd

Statement of Financial Position

31 March 2026

	2026		2025
Note	£	£	£

Fixed assets

Tangible assets	5		19,975	27,025

Current assets

Stocks		565,138	477,633
Debtors	6	–	1,573
Cash at bank and in hand		80,853	30,319
		---------	---------
		645,991	509,525

Creditors: amounts falling due within one year	7	142,237		11,062
		---------		---------
Net current assets			503,754	498,463
			---------	---------
Total assets less current liabilities			523,729	525,488

Creditors: amounts falling due after more than one year	8	1,176	8,174
		---------	---------
Net assets		522,553	517,314
		---------	---------

Capital and reserves

Called up share capital	517,001	517,001
Profit and loss account	5,552	313
	---------	---------
Shareholders funds	522,553	517,314
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Shanmar Ltd

Statement of Financial Position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 22 October 2026 , and are signed on behalf of the board by:

Mr. J McCorry
Director

Company registration number: NI042758

Shanmar Ltd

Notes to the Financial Statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 43 Church Place, Lurgan, Co. Armagh, BT66 6EU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future having adequate funds to meet their obligations as they fall due. The validity of this assumption depends on: i) the continued support of the company's bankers; ii) the continued support of the company's shareholders; iii) an improvement in market conditions. In the light of current residential property market conditions and associated funding issues, the directors have reviewed the company's activities and are of the opinion that the company will remain viable over the medium term and that any additional funding requirement which may arise, can be adequately addressed. Consequently, they are satisfied that it is appropriate for the financial statements to be prepared on a going concern basis at this time.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

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.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Motor Vehicles	-	15% straight line
Equipment	-	15% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Work in progress and related costs are stated at the lower of cost and net realisable value. Cost is calculated as all costs relating to construction services. Where net realisable value is used it is based on the Directors best assessment of the realisable value given the market conditions prevailing at the relevant time and their view of the medium term prospects. Independent professional valuations were not obtained. Work in progress and related costs are stated at the lower of cost and net realisable value. Cost is calculated as all costs relating to construction services. Where net realisable value is used it is based on the Directors best assessment of the realisable value given the market conditions prevailing at the relevant time and their view of the medium term prospects. Independent professional valuations were not obtained.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Particulars of employees

The average number of persons employed by the company during the year amounted to 1 (2025: 1 ).

5. Tangible assets

	Motor vehicles	Equipment	Total
	£	£	£
Cost
At 1 April 2025 and 31 March 2026	47,000	2,374	49,374
	--------	-------	--------
Depreciation
At 1 April 2025	19,975	2,374	22,349
Charge for the year	7,050	–	7,050
	--------	-------	--------
At 31 March 2026	27,025	2,374	29,399
	--------	-------	--------
Carrying amount
At 31 March 2026	19,975	–	19,975
	--------	-------	--------
At 31 March 2025	27,025	–	27,025
	--------	-------	--------

6. Debtors

	2026	2025
	£	£
Other debtors	–	1,573
	----	-------

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Social security and other taxes	143	144
Other creditors	142,094	10,918
	---------	--------
	142,237	11,062
	---------	--------

8. Creditors: amounts falling due after more than one year

	2026	2025
	£	£
Other creditors	1,176	8,174
	-------	-------

9. Directors' advances, credits and guarantees

A balance of £1,572 was due from the Directors at the start of the year and has been cleared before 31st December 2025.

10. Related party transactions

During the year the Director transferred a property to the company at an open market value of £140,000.