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REGISTERED NUMBER: NI004456 (Northern Ireland)














Abridged Financial Statements

for the Year Ended 30 April 2024

for

TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED

TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED (REGISTERED NUMBER: NI004456)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr P M Close
Mr F G Conlon
Mr G McNally
Mr D McElroy
Ms K M McBride





SECRETARY: Mr P M Close





REGISTERED OFFICE:
Toomebridge
Co. Antrim
BT41 3SB





REGISTERED NUMBER: NI004456 (Northern Ireland)





AUDITORS: M.B.Mc Grady & Co
Chartered Accountants
Statutory Auditors
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS

TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED (REGISTERED NUMBER: NI004456)

Abridged Balance Sheet
30 APRIL 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 152,933 159,241

CURRENT ASSETS
Debtors 381,066 379,512
Cash at bank 54,040 29,289
435,106 408,801
CREDITORS
Amounts falling due within one year 32,893 13,023
NET CURRENT ASSETS 402,213 395,778
TOTAL ASSETS LESS CURRENT
LIABILITIES

555,146

555,019

CAPITAL AND RESERVES
Called up share capital 50,001 50,001
Retained earnings 505,145 505,018
SHAREHOLDERS' FUNDS 555,146 555,019

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 Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 August 2024 and were signed on its behalf by:




Mr P M Close - Director Mr F G Conlon - Director




Mr G McNally - Director Mr D McElroy - Director




Ms K M McBride - Director


TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED (REGISTERED NUMBER: NI004456)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Toome Eel Fishery (Northern Ireland),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.

Critical accounting judgements and key sources of estimation uncertainty
estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

a) Recoverability of debtors

Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

b) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical condition of the 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.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 10% on reducing balance
Computer equipment - 20% on reducing balance


TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED (REGISTERED NUMBER: NI004456)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued
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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

Revenue grants
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute.

A grant is not recognised in the profit and loss account until the conditions for its receipt have been complied with and there is a reasonable assurance that the grant will be received.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 20 ) .

TOOME EEL FISHERY (NORTHERN
IRELAND),LIMITED (REGISTERED NUMBER: NI004456)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023
and 30 April 2024 560,852
DEPRECIATION
At 1 May 2023 401,611
Charge for year 6,308
At 30 April 2024 407,919
NET BOOK VALUE
At 30 April 2024 152,933
At 30 April 2023 159,241

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Malachy McGrady (Senior Statutory Auditor)
for and on behalf of M.B.Mc Grady & Co

7. RELATED PARTY DISCLOSURES

Turnover of £673,500 (2023 - £725,667) was received from Lough Neagh Fishermen's Co-Operative Society Limited during the year. As at the 30 April 2024 Lough Neagh Fishermen's Co-Operative Society Limited owed £334,534 (2023 - £331,034) to Toome Eel Fishery (Northern Ireland) Ltd. This is included in debtors within the financial statements.