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REGISTERED NUMBER: NI668211 (Northern Ireland)















TYRONE ELECTRICAL LTD

Unaudited Financial Statements for the Year Ended 31 March 2024






TYRONE ELECTRICAL LTD (REGISTERED NUMBER: NI668211)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


TYRONE ELECTRICAL LTD

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Roisin Treanor
Aidan Gillespie
Liam Donnelly





REGISTERED OFFICE: 53 Gortgonis Road Road
Coalisland
Co. Tyrone
BT71 4QF





REGISTERED NUMBER: NI668211 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

TYRONE ELECTRICAL LTD (REGISTERED NUMBER: NI668211)

Statement of Financial Position
31 MARCH 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 77,394 48,064

CURRENT ASSETS
Inventories 139,453 183,104
Receivables: amounts falling due within
one year

6

124,105

102,278
Cash at bank 73,484 41,173
337,042 326,555
PAYABLES
Amounts falling due within one year 7 (267,949 ) (266,169 )
NET CURRENT ASSETS 69,093 60,386
TOTAL ASSETS LESS CURRENT
LIABILITIES

146,487

108,450

PAYABLES
Amounts falling due after more than
one year

8

(45,682

)

(23,729

)
NET ASSETS 100,805 84,721

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 100,705 84,621
100,805 84,721

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

TYRONE ELECTRICAL LTD (REGISTERED NUMBER: NI668211)

Statement of Financial Position - continued
31 MARCH 2024


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 24 July 2024 and were signed on its behalf by:




Roisin Treanor - Director Aidan Gillespie - Director




Liam Donnelly - Director


TYRONE ELECTRICAL LTD (REGISTERED NUMBER: NI668211)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Tyrone Electrical 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.

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.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand and deposits held at call with banks.

TYRONE ELECTRICAL LTD (REGISTERED NUMBER: NI668211)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

Share capital
Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 7 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£
COST
At 1 April 2023 58,741
Additions 39,222
At 31 March 2024 97,963
DEPRECIATION
At 1 April 2023 10,677
Charge for year 9,892
At 31 March 2024 20,569
NET BOOK VALUE
At 31 March 2024 77,394
At 31 March 2023 48,064

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 99,399 79,498
Other debtors 24,706 22,780
124,105 102,278

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 11,726 6,669
Trade payables 146,210 189,231
Taxation and social security 14,796 21,991
Other payables 95,217 48,278
267,949 266,169

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Hire purchase contracts 45,682 23,729