K G Byrne & Associates Limited 31/03/2019 iXBRL
K G Byrne & Associates Limited 31/03/2019 iXBRL
Company registration number:
NI043178
Unaudited filleted financial statements
Barry Thompson and Company
Chartered Accountants
76-78 Church Street
Portadown
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Company number |
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Registered office |
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Accountants |
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76-78 Church Street | ||
Portadown | ||
Co Armagh | ||
Bankers |
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17 Bridge Street | ||
Banbridge | ||
Co Down | ||
BT32 3JL | ||
Report to the director on the preparation of the
unaudited statutory financial statements of K G Byrne & Associates Limited
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K G Byrne & Associates Limited for the year ended 31 March 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of K G Byrne & Associates Limited, as a body, in accordance with the terms of our engagement letter dated 5 December 2017. Our work has been undertaken solely to prepare for your approval the financial statements of K G Byrne & Associates Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K G Byrne & Associates Limited and its director as a body for our work or for this report.
It is your duty to ensure that K G Byrne & Associates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K G Byrne & Associates Limited. You consider that K G Byrne & Associates Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of K G Byrne & Associates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chartered Accountants
76-78 Church Street
Portadown
Co Armagh
13 December 2019
Statement of financial position
31 March 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 5 | - | - | ||||||
Tangible assets | 6 |
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Current assets | |||||||||
Debtors | 7 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 8 |
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Net current assets |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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Director's responsibilities:
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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;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
13 December 2019
, and are signed on behalf of the board by:
Director
Company registration number:
NI043178
Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is K G Byrne & Associates Limited, 48, Aughnacloy Road, Banbridge, Co Down, BT31 5QG.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
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.
Taxation
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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:
Fittings fixtures and equipment | - |
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Motor vehicles | - |
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Impairment
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2018:
6
).
5.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 April 2018 and 31 March 2019 |
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Amortisation | |||
At 1 April 2018 and 31 March 2019 |
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Carrying amount | |||
At 31 March 2019 | - | - | |
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At 31 March 2018 | - | - | |
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6.
Tangible assets
Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | ||
Cost | ||||
At 1 April 2018 |
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Additions | 122 | - | 122 | |
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At 31 March 2019 |
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Depreciation | ||||
At 1 April 2018 |
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Charge for the year |
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At 31 March 2019 |
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Carrying amount | ||||
At 31 March 2019 |
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At 31 March 2018 |
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7.
Debtors
2019 | 2018 | |||
£ | £ | |||
Other debtors |
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8.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Other creditors |
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9.
Directors advances, credits and guarantees
At the year end the company owed its director £67,638 (2018- £68,141). These loans are interest free and repayable on demand.
10.
Controlling party
The ultimate controlling party is
K G Byrne
who owns 100% of the ordinary share capital.
11.
Remuneration Trust
In the year ended 31 March 2019 the company adhered to a Remuneration Trust and made an irrevocable discretionary payment of £104,300 (2018 - £209,522).