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Registered number: NI693777
O'Neill Vegetables Ltd
Unaudited ABRIDGED Financial Statements
For the Period 17 January 2023 to 31 January 2024
WHR Accountants Ltd
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: NI693777
31 January 2024
Notes £ £
FIXED ASSETS
Tangible Assets 4 22,715
22,715
CURRENT ASSETS
Debtors 5,599
Cash at bank and in hand 11,733
17,332
Creditors: Amounts Falling Due Within One Year (15,314 )
NET CURRENT ASSETS (LIABILITIES) 2,018
TOTAL ASSETS LESS CURRENT LIABILITIES 24,733
Creditors: Amounts Falling Due After More Than One Year (14,580 )
NET ASSETS 10,153
CAPITAL AND RESERVES
Called up share capital 6 1
Profit and Loss Account 10,152
SHAREHOLDERS' FUNDS 10,153
Page 1
Page 2
For the period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 January 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Eamon O'Neill
Director
14/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
O'Neill Vegetables Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI693777 . The registered office is 44 Drumlee Road, Dungannon, Co. Tyrone, BT71 7QD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the period was: NIL
-
4. Tangible Assets
Total
£
Cost
As at 17 January 2023 -
Additions 28,394
As at 31 January 2024 28,394
...CONTINUED
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Depreciation
As at 17 January 2023 -
Provided during the period 5,679
As at 31 January 2024 5,679
Net Book Value
As at 31 January 2024 22,715
As at 17 January 2023 -
5. Obligations Under Finance Leases and Hire Purchase
31 January 2024
£
The future minimum finance lease payments are as follows:
Not later than one year 6,998
Later than one year and not later than five years 14,580
21,578
21,578
6. Share Capital
31 January 2024
£
Allotted, Called up and fully paid 1
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