BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of investment properties. 1 August 2024 0 0 NI690388 2024-03-31 NI690388 2023-03-31 NI690388 2022-03-31 NI690388 2023-04-01 2024-03-31 NI690388 2022-04-01 2023-03-31 NI690388 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI690388 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI690388 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI690388 uk-bus:FullAccounts 2023-04-01 2024-03-31 NI690388 uk-core:ShareCapital 2024-03-31 NI690388 uk-core:ShareCapital 2023-03-31 NI690388 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI690388 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI690388 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI690388 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI690388 uk-bus:FRS102 2023-04-01 2024-03-31 NI690388 uk-core:WithinOneYear 2024-03-31 NI690388 uk-core:WithinOneYear 2023-03-31 NI690388 2023-04-01 2024-03-31 NI690388 uk-bus:Director1 2023-04-01 2024-03-31 NI690388 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI690388
 
 
Tullagh Investments Ltd
 
     Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Tullagh Investments Ltd
Company Registration Number: NI690388
BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 428,250 275,000
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Current Assets
Cash and cash equivalents 46,374 10,100
Creditors: amounts falling due within one year 5 (29,648) (11,090)
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Net Current Assets/(Liabilities) 16,726 (990)
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Total Assets less Current Liabilities 444,976 274,010
 
Creditors:
amounts falling due after more than one year 6 (420,049) (273,000)
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Net Assets 24,927 1,010
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Capital and Reserves
Called up share capital 100 100
Retained earnings 24,827 910
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Shareholders' Funds 24,927 1,010
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 1 August 2024 and signed on its behalf by
           
           
________________________________          
John Meenan          
Director          
           



Tullagh Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Tullagh Investments Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI690388. The registered office of the company is 17 Tullagh Drive, Cookstown, Co Tyrone, BT80 8ED, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of investment properties. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The comparative figures relate to the 7 month period ended 31 March 2023.
       
4. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost
At 1 April 2023 275,000 275,000
Additions 153,250 153,250
  ───────── ─────────
At 31 March 2024 428,250 428,250
  ───────── ─────────
Depreciation
At 1 April 2023 - -
  ───────── ─────────
At 31 March 2024 - -
  ───────── ─────────
Net book value
At 31 March 2024 428,250 428,250
  ═════════ ═════════
At 31 March 2023 275,000 275,000
  ═════════ ═════════
       
5. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 7) 19,169 2,090
Other creditors 9,479 8,000
Accruals 1,000 1,000
  ───────── ─────────
  29,648 11,090
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Amounts owed to related parties (Note 9) 420,049 273,000
  ═════════ ═════════
 
       
7. Taxation 2024 2023
  £ £
 
Creditors:
VAT 11,683 -
Corporation tax 7,486 2,090
  ───────── ─────────
  19,169 2,090
  ═════════ ═════════
       
8. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
           
9. Related party transactions
 
Net balances with related parties:
      2024 2023
      £ £
 
Amounts falling due after more than one year     420,049 273,000
      ═════════ ═════════
   
10. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.