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REGISTERED NUMBER: NI011269 (Northern Ireland)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

RAD COCHRANE BROTHERS LTD

RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


RAD COCHRANE BROTHERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr M Cochrane
Mr N T Cochrane



REGISTERED OFFICE: 10 Craigavon Road
FINTONA
Co. Tyrone
BT78 2BN



REGISTERED NUMBER: NI011269 (Northern Ireland)



ACCOUNTANTS: R Cathers & Co
Chartered Accountants & Registered Auditors
107 Main Street
FINTONA
Co. Tyrone
BT78 2AH



BANKERS: Danske Bank
5-7 Market Street
OMAGH
Co. Tyrone
BT78 1BN



SOLICITORS: McConnell & Fyffe
The Old Rectory
21 church Road
OMAGH
Co Tyrone
BT78 1DG

RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 331,566 355,757
Investments 5 71,899 71,899
403,465 427,656

CURRENT ASSETS
Stocks 636,324 96,491
Debtors 6 262,436 339,732
Cash at bank - 300,249
898,760 736,472
CREDITORS
Amounts falling due within one year 7 445,883 321,620
NET CURRENT ASSETS 452,877 414,852
TOTAL ASSETS LESS CURRENT
LIABILITIES

856,342

842,508

CREDITORS
Amounts falling due after more than one
year

8

(48,876

)

(62,642

)

PROVISIONS FOR LIABILITIES (38,437 ) (41,331 )
NET ASSETS 769,029 738,535

RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)

BALANCE SHEET - continued
31 JULY 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 8,888 8,888
Revaluation reserve 9 165,395 165,395
Other reserves 17,654 17,654
Retained earnings 577,092 546,598
769,029 738,535

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by:




Mr M Cochrane - Director



Mr N T Cochrane - Director


RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

RAD Cochrane Brothers Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 270,588 710,953 981,541
Additions - 50,033 50,033
Disposals - (19,750 ) (19,750 )
At 31 July 2023 270,588 741,236 1,011,824
DEPRECIATION
At 1 August 2022 132,360 493,424 625,784
Charge for year 8,961 64,177 73,138
Eliminated on disposal - (18,664 ) (18,664 )
At 31 July 2023 141,321 538,937 680,258
NET BOOK VALUE
At 31 July 2023 129,267 202,299 331,566
At 31 July 2022 138,228 217,529 355,757

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 71,899
NET BOOK VALUE
At 31 July 2023 71,899
At 31 July 2022 71,899

RAD COCHRANE BROTHERS LTD (REGISTERED NUMBER: NI011269)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,119 291,841
Other debtors 88,317 47,891
262,436 339,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 132,009 -
Hire purchase contracts 7,333 11,911
Trade creditors 234,259 247,510
Taxation and social security 49,779 38,034
Other creditors 22,503 24,165
445,883 321,620

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 43,876 50,359
Hire purchase contracts 5,000 12,283
48,876 62,642

9. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 165,395