Ralph's Moira Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI664054 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

Ralph's Moira Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs L M I McCabe

J R McCabe

REGISTERED OFFICE:

19 Crescent Business Park

LISBURN

Co. Antrim

BT28 2GN

BUSINESS ADDRESS:

65 Main Street

Moira

CRAIGAVON

BT67 0LQ

REGISTERED NUMBER:

NI664054 (Northern Ireland)

ACCOUNTANTS:

Minshull & Co

19 Crescent Business Park

LISBURN

Co. Antrim

BT28 2GN

FIXED ASSETS

Intangible assets

5

40,680

45,765

Tangible assets

6

509,219

535,003

549,899

580,768

CURRENT ASSETS

Stocks

7

1,675

675

Debtors

8

2,284

3,068

Cash at bank

142,290

16,590

146,249

20,333

CREDITORS

Amounts falling due within one year

9

641,829

580,061

NET CURRENT LIABILITIES

(495,580

)

(559,728

)

TOTAL ASSETS LESS CURRENT LIABILITIES

54,319

21,040

CREDITORS

Amounts falling due after more than one year

10

(38,079

)

(50,000

)

PROVISIONS FOR LIABILITIES

12

(8,100

)

-

NET ASSETS/(LIABILITIES)

8,140

(28,960

)

CAPITAL AND RESERVES

Called up share capital

13

100

100

Retained earnings

14

8,040

(29,060

)

SHAREHOLDERS' FUNDS

8,140

(28,960

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 August 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 30 April 2022 and were signed on its behalf by:

Mrs L M I McCabe - Director

1.	STATUTORY INFORMATION

Ralph's Moira 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.

Turnover

Turnover 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 2019, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

20% on cost

Stocks

Stocks 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 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2020

and 31 August 2021

50,850

AMORTISATION

At 1 September 2020

5,085

Amortisation for year

5,085

At 31 August 2021

10,170

NET BOOK VALUE

At 31 August 2021

40,680

At 31 August 2020

45,765

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 September 2020

409,950

165,267

575,217

Additions

-

17,430

17,430

At 31 August 2021

409,950

182,697

592,647

DEPRECIATION

At 1 September 2020

8,199

32,015

40,214

Charge for year

8,199

35,015

43,214

At 31 August 2021

16,398

67,030

83,428

NET BOOK VALUE

At 31 August 2021

393,552

115,667

509,219

At 31 August 2020

401,751

133,252

535,003

7.

STOCKS

31/8/21

31/8/20

£

£

Stocks

1,675

675

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/21

31/8/20

£

£

Trade debtors

2,123

2,123

VAT

36

-

Prepayments and accrued income

125

945

2,284

3,068

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/8/21

31/8/20

£

£

Bank loans and overdrafts (see note 11)

9,566

-

Trade creditors

96

45

Social security and other taxes

563

187

VAT

-

4,480

Other creditors

103,415

38,815

Directors' current accounts

520,095

526,961

Accruals and deferred income

8,094

9,573

641,829

580,061

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/8/21

31/8/20

£

£

Bank loans (see note 11)

38,079

50,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

9,507

11.

LOANS

An analysis of the maturity of loans is given below:

31/8/21

31/8/20

£

£

Amounts falling due within one year or on demand:

Bank loans

9,566

-

Amounts falling due between one and two years:

Bank loans - 1-2 years

9,808

10,506

Amounts falling due between two and five years:

Bank loans - 2-5 years

28,271

29,987

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

9,507

12.	PROVISIONS FOR LIABILITIES

31/8/21

31/8/20

£

£

Deferred tax

8,100

-

Deferred

tax

£

Charge to Statement of Income and Retained Earnings during year

8,100

Balance at 31 August 2021

8,100

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/21

31/8/20

value:

£

£

100

Ordinary

£1

100

100

14.

RESERVES

Retained

earnings

£

At 1 September 2020

(29,060

)

Profit for the year

37,100

At 31 August 2021

8,040

15.	CAPITAL COMMITMENTS

31/8/21

31/8/20

£

£

Contracted but not provided for in the

financial statements

-

-