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REGISTERED NUMBER: NI622984 (Northern Ireland)















T&M RETAIL LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024






T&M RETAIL LTD (REGISTERED NUMBER: NI622984)






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


T&M RETAIL LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mrs Tara Grimes





REGISTERED OFFICE: 6 Quarry Lane
Dungannon
Co. Tyrone
BT70 1HX





REGISTERED NUMBER: NI622984 (Northern Ireland)





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

T&M RETAIL LTD (REGISTERED NUMBER: NI622984)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 - -
Property, plant and equipment 6 61,755 62,680
61,755 62,680

CURRENT ASSETS
Inventories 172,254 205,651
Receivables: amounts falling due within
one year

7

207,824

137,895
Cash at bank and in hand 399,259 523,983
779,337 867,529
PAYABLES
Amounts falling due within one year 8 (445,425 ) (542,999 )
NET CURRENT ASSETS 333,912 324,530
TOTAL ASSETS LESS CURRENT
LIABILITIES

395,667

387,210

PAYABLES
Amounts falling due after more than
one year

9

(106,476

)

(141,214

)

PROVISIONS FOR LIABILITIES (36,554 ) (21,115 )
NET ASSETS 252,637 224,881

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 252,635 224,879
SHAREHOLDERS' FUNDS 252,637 224,881

T&M RETAIL LTD (REGISTERED NUMBER: NI622984)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 2024


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 director acknowledges her 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 director and authorised for issue on 14 June 2024 and were signed by:





Mrs Tara Grimes - Director


T&M RETAIL LTD (REGISTERED NUMBER: NI622984)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

T&M Retail 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 preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

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

Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic life of 5 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Fixtures and fittings- 15% Straight Line
Motor vehicles- 25% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

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
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

T&M RETAIL LTD (REGISTERED NUMBER: NI622984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 65 (2023 - 68 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 150,000
AMORTISATION
At 1 April 2023
and 31 March 2024 150,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

6. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and Motor
fittings vehicles Totals
£ £ £
COST
At 1 April 2023 284,866 37,350 322,216
Additions 17,567 - 17,567
At 31 March 2024 302,433 37,350 339,783
DEPRECIATION
At 1 April 2023 233,893 25,643 259,536
Charge for year 15,565 2,927 18,492
At 31 March 2024 249,458 28,570 278,028
NET BOOK VALUE
At 31 March 2024 52,975 8,780 61,755
At 31 March 2023 50,973 11,707 62,680

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 12,929 15,111
Other receivables 34,156 30,835
Directors' current accounts 160,739 90,900
Prepayments and accrued income - 1,049
207,824 137,895

T&M RETAIL LTD (REGISTERED NUMBER: NI622984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 17,696 17,047
Trade payables 198,214 296,781
Tax 25,126 17,186
Social security and other taxes 9,553 5,327
VAT 19,877 13,449
Other payables 2,130 4,313
Accruals and deferred income 172,829 188,896
445,425 542,999

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans - 1-2 years 106,476 141,214

10. SECURED DEBTS

Loans are secured by way of a fixed and floating charge over the premises known as 6 and 6A Quarry Lane and by way of a fixed charge over all buildings, fixtures, fittings and assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 1 2 2