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2022-10-31-accounts

Company registration number: NI614766

Rathlane Trading as Rathlane

Unaudited financial statements

31 October 2021

Rathlane

Contents
Page
Directors and other information 1
Directors report 2
Accountants report 3
Income statement 4
Statement of financial position 5 - 6
Notes to the financial statements 7 - 8

Rathlane

Directors and other information

Directors Mr Gerard P Early Mr Darren C W Gill Mr David J Gilliland Company number NI614766 Registered office 1 Ballyvannon Road Ballinderry Upper Lisburn BT28 2LB Business address 1 Ballyvannon Road Ballinderry Upper Lisburn BT28 2LB Accountants CFT Associates 4 Ballyvannon Road Ballinderry Upper Lisburn Antrim BT28 2LB

Rathlane

Directors report Year ended 31 October 2021

The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2021.

Directors

The directors who served the company during the year were as follows:

Mr Gerard P Early Mr Darren C W Gill Mr David J Gilliland

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 17 September 2022 and signed on behalf of the board by:

Mr Gerard P Early Director

Rathlane

Report to the board of directors on the preparation of the unaudited statutory financial statements of Rathlane Year ended 31 October 2021

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 October 2021 which comprise the income statement, statement of financial position and related notes.

You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

CFT Associates

4 Ballyvannon Road Ballinderry Upper Lisburn Antrim BT28 2LB

17 September 2022

Rathlane

Income statement Year ended 31 October 2021

2021 2020
Note £ £
Turnover 60,146 57,487
Cost of sales )
(24,558		 )
(21,366
Gross profit 35,588 36,121
Administrative expenses )
(34,711		 )
(35,638
Operating profit 877 483
Profit before taxation 877 483
Tax on profit - -
Profit for the financial year 877 483

All the activities of the company are from continuing operations.

The notes on pages 7 to 8 form part of these financial statements.

Rathlane

Statement of financial position 31 October 2021

Note
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due
within one year
5
Net current assets
Total assets less current liabilities
Net assets
Capital and reserves
Profit and loss account
Shareholders funds		 2021
£
£
3,583
5,187
8,770
)
(3,200
5,570
5,570
5,570
5,570
5,570		 2020
£
£
6,663
230
6,893
)
(2,200
4,693
4,693
4,693
4,693
4,693		 2020
£
£
6,663
230
6,893
)
(2,200
4,693
4,693
4,693
4,693
4,693
4,693
4,693
4,693
4,693

For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

These financial statements have been prepared 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'.

The notes on pages 7 to 8 form part of these financial statements.

Rathlane

Statement of financial position (continued) 31 October 2021

These financial statements were approved by the board of directors and authorised for issue on 17 September 2022, and are signed on behalf of the board by:

Mr Gerard P Early Director

Company registration number: NI614766

The notes on pages 7 to 8 form part of these financial statements.

Rathlane

Notes to the financial statements Year ended 31 October 2021

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 1 Ballyvannon Road, Ballinderry Upper, Lisburn, BT28 2LB.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Rathlane

Notes to the financial statements (continued) Year ended 31 October 2021

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 or 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.

4. Debtors

4.
Debtors
Other debtors
5.
Creditors: amounts falling due within one year
Other creditors		 2021
£
3,583
2021
£
3,200		 2020
£
6,663
2020
£
2,200

Rathlane

The following pages do not form part of the statutory accounts.

Rathlane

Detailed income statement Year ended 31 October 2021

Turnover
Sales
Rent receivable
Grants receivable
Cost of sales
Purchases
Direct costs
Gross profit
Gross profit percentage
Overheads
Administrative expenses
Training expenditure
Rent payable
Rates
Insurance
Light and heat
Repairs and maintenance
Printing, postage and stationery
Telephone
Motor expenses
Consultancy fees
Accountancy fees
Bank charges
General expenses
Operating profit
Operating profit percentage
Profit before taxation		 2021
£
17,620
8,446
34,080
60,146
)
(6,679
)
(17,879
)
(24,558
35,588
%
59.2
)
(388
)
(3,650
)
(312
)
(4,715
)
(3,998
)
(15,117
)
(612
-
)
(2,279
)
(2,215
)
(1,000
)
(184
)
(241
)
(34,711
877
%
1.5
877		 2020
£
19,327
6,930
31,230
57,487
)
(4,350
)
(17,016
)
(21,366
36,121
%
62.8
)
(654
)
(3,740
)
(237
)
(4,613
)
(3,582
)
(15,766
)
(510
)
(11
)
(2,816
)
(2,338
)
(1,000
)
(171
)
(200
)
(35,638
483
%
0.8
483