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REGISTERED NUMBER: 08242245 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Tir Construction Limited

Tir Construction Limited (Registered number: 08242245)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Tir Construction Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr T Edwards
Mrs T L Edwards





REGISTERED OFFICE: Adeilad St. Davids Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP





REGISTERED NUMBER: 08242245 (England and Wales)





ACCOUNTANTS: Dunn & Ellis Cyf
Chartered Accountants
Adeilad St David's Building
Stryd Lombard Street
Porthmadog
Gwynedd
LL49 9AP

Tir Construction Limited (Registered number: 08242245)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 275,528 180,847

CURRENT ASSETS
Stocks 260,000 222,645
Debtors 5 359,183 298,450
Cash at bank 164,006 307,769
783,189 828,864
CREDITORS
Amounts falling due within one year 6 671,130 559,539
NET CURRENT ASSETS 112,059 269,325
TOTAL ASSETS LESS CURRENT
LIABILITIES

387,587

450,172

CREDITORS
Amounts falling due after more than one
year

7

(164,874

)

(293,200

)

PROVISIONS FOR LIABILITIES (22,836 ) (20,105 )
NET ASSETS 199,877 136,867

CAPITAL AND RESERVES
Called up share capital 101 100
Revaluation reserve 8 56,700 56,700
Retained earnings 143,076 80,067
SHAREHOLDERS' FUNDS 199,877 136,867

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

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

Tir Construction Limited (Registered number: 08242245)

Balance Sheet - continued
31 October 2023


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 29 July 2024 and were signed on its behalf by:





Mr T Edwards - Director


Tir Construction Limited (Registered number: 08242245)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Tir Construction Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 20% on reducing balance

Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect of impairment.

Property improvements - 2% reducing balance
Plant and machinery - 10% reducing balance
Motor vehicles - 10% reducing balance
Computer equipment - 10% 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.

Tir Construction Limited (Registered number: 08242245)

Notes to the Financial Statements - continued
for the Year Ended 31 October 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 22 (2022 - 30 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 November 2022 120,000 171,327 291,327
Additions 100,000 850 100,850
At 31 October 2023 220,000 172,177 392,177
DEPRECIATION
At 1 November 2022 - 110,480 110,480
Charge for year - 6,169 6,169
At 31 October 2023 - 116,649 116,649
NET BOOK VALUE
At 31 October 2023 220,000 55,528 275,528
At 31 October 2022 120,000 60,847 180,847

Cost or valuation at 31 October 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 50,000 - 50,000
Cost 170,000 172,177 342,177
220,000 172,177 392,177

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 175,745 113,041
Other debtors 183,438 185,409
359,183 298,450

Tir Construction Limited (Registered number: 08242245)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 159,707 219,631
Hire purchase contracts 6,065 10,671
Trade creditors 295,728 166,233
Taxation and social security 205,048 160,479
Other creditors 4,582 2,525
671,130 559,539

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Hire purchase contracts 3,541 11,631
Other creditors 161,333 281,569
164,874 293,200

8. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 56,700

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
Mr T Edwards
Balance outstanding at start of year 85,919 87,135
Amounts advanced 47,778 -
Amounts repaid (67,098 ) (1,216 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,599 85,919

Mrs T L Edwards
Balance outstanding at start of year 85,919 87,135
Amounts advanced 47,778 -
Amounts repaid (67,098 ) (1,216 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 66,599 85,919