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Company Registration No. NI632114 (Northern Ireland)
Patrick F O'Reilly Ltd Unaudited accounts for the year ended 31 May 2024
Patrick F O'Reilly Ltd Unaudited accounts Contents
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Patrick F O'Reilly Ltd Company Information for the year ended 31 May 2024
Director
Patrick O'Reilly
Company Number
NI632114 (Northern Ireland)
Registered Office
4A Abbey Yard Newry County Down BT34 2EG Northern Ireland
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Patrick F O'Reilly Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
58,547 
48,424 
Current assets
Inventories
42,440 
41,690 
Debtors
126,420 
179,232 
Cash at bank and in hand
60,417 
144,969 
229,277 
365,891 
Creditors: amounts falling due within one year
46,801 
(114,056)
Net current assets
276,078 
251,835 
Net assets
334,625 
300,259 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
334,624 
300,258 
Shareholders' funds
334,625 
300,259 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have 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.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 November 2024 and were signed on its behalf by
Patrick O'Reilly Director Company Registration No. NI632114
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Patrick F O'Reilly Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Patrick F O'Reilly Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI632114. The registered office is 4A Abbey Yard, Newry, County Down, BT34 2EG, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Patrick F O'Reilly Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2023
89,286 
Additions
26,971 
Disposals
(13,860)
At 31 May 2024
102,397 
Depreciation
At 1 June 2023
40,862 
Charge for the year
12,307 
On disposals
(9,319)
At 31 May 2024
43,850 
Net book value
At 31 May 2024
58,547 
At 31 May 2023
48,424 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
6
Average number of employees
During the year the average number of employees was 9 (2023: 9).
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