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Company registration number: NI012706
T.J.McKenna and Son Limited
Unaudited filleted abridged financial statements
30 June 2020
T.J.McKenna and Son Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
T.J.McKenna and Son Limited
Directors and other information
Director Mr Stephen McCartan
Secretary Mrs M Mc Cartan
Company number NI012706
Registered office 54 Reclain Road
Dungannon
Tyrone
BT70 3BS
Accountants ASM (D) Ltd
79 Cunninghams Lane
Dungannon
Tyrone
BT71 6BX
Bankers First Trust Bank
18/20 Scotch Street
Dungannon
County Tyrone
BT70 1AZ
Solicitors Francis J Madden LL.B.
The Square
Coalisland
County Tyrone
BT71 4LN
T.J.McKenna and Son Limited
Report to the director on the preparation of the
unaudited statutory financial statements of T.J.McKenna and Son Limited
Year ended 30 June 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of T.J.McKenna and Son Limited for the year ended 30 June 2020 which comprise the abridged 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 T.J.McKenna and Son Limited, as a body, in accordance with the terms of our engagement letter dated 21 July 2023. Our work has been undertaken solely to prepare for your approval the financial statements of T.J.McKenna and Son 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 T.J.McKenna and Son Limited and its director as a body for our work or for this report.
It is your duty to ensure that T.J.McKenna and Son 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 loss of T.J.McKenna and Son Limited. You consider that T.J.McKenna and Son 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 T.J.McKenna and Son 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.
ASM (D) Ltd
Chartered Accountants
79 Cunninghams Lane
Dungannon
Tyrone
BT71 6BX
3 April 2024
T.J.McKenna and Son Limited
Abridged statement of financial position
30 June 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 188,373 194,004
_______ _______
188,373 194,004
Current assets
Stocks 1,175,696 1,123,456
Debtors 681,567 824,548
Cash at bank and in hand 28,761 34,066
_______ _______
1,886,024 1,982,070
Creditors: amounts falling due
within one year 6 ( 1,805,833) ( 1,879,071)
_______ _______
Net current assets 80,191 102,999
_______ _______
Total assets less current liabilities 268,564 297,003
Creditors: amounts falling due
after more than one year - ( 24,845)
Accruals and deferred income - -
_______ _______
Net assets 268,564 272,158
_______ _______
Capital and reserves
Called up share capital 93,000 93,000
Other reserves 30,600 30,600
Profit and loss account 144,964 148,558
_______ _______
Shareholders funds 268,564 272,158
_______ _______
For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 June 2020 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 03 April 2024 , and are signed on behalf of the board by:
Mr Stephen McCartan
Director
Company registration number: NI012706
T.J.McKenna and Son Limited
Notes to the financial statements
Year ended 30 June 2020
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 54 Reclain Road, Dungannon, Tyrone, BT70 3BS.
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
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 - 20 % reducing balance
Motor vehicles - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2019: 13 ).
5. Tangible assets
£
Cost
At 1 July 2019 and 30 June 2020 678,718
_______
Depreciation
At 1 July 2019 484,713
Charge for the year 5,632
_______
At 30 June 2020 490,345
_______
Carrying amount
At 30 June 2020 188,373
_______
At 30 June 2019 194,005
_______
6. Creditors: amounts falling due within one year
The bank loan and overdraft - £27,538 ( 2019 - £53,324) is secured by a fixed charge over the company's property at Reclain, Dungannon