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 a holding company. 25 September 2024 2 2 NI656964 2024-03-31 NI656964 2023-03-31 NI656964 2022-03-31 NI656964 2023-04-01 2024-03-31 NI656964 2022-04-01 2023-03-31 NI656964 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI656964 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI656964 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI656964 uk-bus:FullAccounts 2023-04-01 2024-03-31 NI656964 uk-core:ShareCapital 2024-03-31 NI656964 uk-core:ShareCapital 2023-03-31 NI656964 uk-core:SharePremium 2024-03-31 NI656964 uk-core:SharePremium 2023-03-31 NI656964 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI656964 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI656964 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI656964 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI656964 uk-bus:FRS102 2023-04-01 2024-03-31 NI656964 uk-core:MotorVehicles 2023-04-01 2024-03-31 NI656964 uk-core:CostValuation 2023-03-31 NI656964 uk-core:AdditionsToInvestments 2024-03-31 NI656964 uk-core:CostValuation 2024-03-31 NI656964 uk-core:CurrentFinancialInstruments 2024-03-31 NI656964 uk-core:CurrentFinancialInstruments 2023-03-31 NI656964 uk-core:CurrentFinancialInstruments 2024-03-31 NI656964 uk-core:CurrentFinancialInstruments 2023-03-31 NI656964 uk-core:WithinOneYear 2024-03-31 NI656964 uk-core:WithinOneYear 2023-03-31 NI656964 uk-core:AfterOneYear 2024-03-31 NI656964 uk-core:AfterOneYear 2023-03-31 NI656964 uk-core:EmployeeBenefits 2023-03-31 NI656964 uk-core:EmployeeBenefits 2023-04-01 2024-03-31 NI656964 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 NI656964 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-03-31 NI656964 uk-core:OtherDeferredTax 2024-03-31 NI656964 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-03-31 NI656964 uk-core:EmployeeBenefits 2024-03-31 NI656964 2023-04-01 2024-03-31 NI656964 uk-bus:Director1 2023-04-01 2024-03-31 NI656964 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI656964
 
 
Tullagh Holdings Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Tullagh Holdings Ltd
Company Registration Number: NI656964
BALANCE SHEET
as at 31 March 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 79,949 -
Investments 5 2,882,252 2,832,002
───────── ─────────
Fixed Assets 2,962,201 2,832,002
───────── ─────────
 
Current Assets
Debtors 6 65,140 80,020
Cash and cash equivalents 17,946 105,342
───────── ─────────
83,086 185,362
───────── ─────────
Creditors: amounts falling due within one year 7 (1,293) (1,294)
───────── ─────────
Net Current Assets 81,793 184,068
───────── ─────────
Total Assets less Current Liabilities 3,043,994 3,016,070
 
Creditors:
amounts falling due after more than one year 8 - (320)
 
Provisions for liabilities 10 (24,484) -
───────── ─────────
Net Assets 3,019,510 3,015,750
═════════ ═════════
 
Capital and Reserves
Called up share capital 3,360 3,360
Share premium account 11 2,357,640 2,357,640
Retained earnings 658,510 654,750
───────── ─────────
Equity attributable to owners of the company 3,019,510 3,015,750
═════════ ═════════
 
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 25 September 2024 and signed on its behalf by
           
           
________________________________          
Mr.John Meenan          
Director          
           



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

   
1. General Information
 
Tullagh Holdings Ltd is a company limited by shares incorporated in Northern Ireland. 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 a holding company. 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 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.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Motor vehicles - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
  2024 2023
  Number Number
 
Employees 2 2
  ═════════ ═════════
       
4. Tangible assets
  Motor Total
  vehicles  
     
  £ £
Cost
At 1 April 2023 - -
Additions 99,936 99,936
  ───────── ─────────
At 31 March 2024 99,936 99,936
  ───────── ─────────
Depreciation
At 1 April 2023 - -
Charge for the financial year 19,987 19,987
  ───────── ─────────
At 31 March 2024 19,987 19,987
  ───────── ─────────
Net book value
At 31 March 2024 79,949 79,949
  ═════════ ═════════
       
5. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
At 1 April 2023 2,832,002 2,832,002
Additions 50,250 50,250
  ───────── ─────────
At 31 March 2024 2,882,252 2,882,252
  ───────── ─────────
Net book value
At 31 March 2024 2,882,252 2,882,252
  ═════════ ═════════
At 31 March 2023 2,832,002 2,832,002
  ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Amounts owed by group undertakings 5,020 80,020
Other debtors 4,650 -
Directors' current accounts (Note ) 55,470 -
  ───────── ─────────
  65,140 80,020
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 9) 293 294
Accruals 1,000 1,000
  ───────── ─────────
  1,293 1,294
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Directors' loan accounts - 320
  ═════════ ═════════
 
       
9. Taxation 2024 2023
  £ £
 
Creditors:
PAYE / NI 293 294
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start - - -
Charged to profit and loss 24,484 24,484 -
  ───────── ───────── ─────────
At financial year end 24,484 24,484 -
  ═════════ ═════════ ═════════
   
11. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2019.
 
       
12. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
           
13. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
At the start of the year, the directors were owed £320 from the company. During the year the company borrowed £73,277 and repaid £129,067 to the directors leaving an overdrawn closing balance of £55,470 (2023: £320). HMRC beneficial rate of interest has been charged on this overdrawn amount. This overdrawn closing balance is included in the debtors section of the balance sheet.
   
14. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.