BrightAccountsProduction v1.0.0 v1.0.0 2023-03-01 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 to carry on the business of manufacture and repair of slurry storage systems. 22 October 2024 5 5 NI056698 2024-02-29 NI056698 2023-02-28 NI056698 2022-02-28 NI056698 2023-03-01 2024-02-29 NI056698 2022-03-01 2023-02-28 NI056698 uk-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI056698 uk-curr:PoundSterling 2023-03-01 2024-02-29 NI056698 uk-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI056698 uk-bus:FullAccounts 2023-03-01 2024-02-29 NI056698 uk-core:ShareCapital 2024-02-29 NI056698 uk-core:ShareCapital 2023-02-28 NI056698 uk-core:RetainedEarningsAccumulatedLosses 2024-02-29 NI056698 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI056698 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-02-29 NI056698 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI056698 uk-bus:FRS102 2023-03-01 2024-02-29 NI056698 uk-core:PlantMachinery 2023-03-01 2024-02-29 NI056698 uk-core:CurrentFinancialInstruments 2024-02-29 NI056698 uk-core:CurrentFinancialInstruments 2023-02-28 NI056698 uk-core:WithinOneYear 2024-02-29 NI056698 uk-core:WithinOneYear 2023-02-28 NI056698 uk-core:WithinOneYear 2024-02-29 NI056698 uk-core:WithinOneYear 2023-02-28 NI056698 uk-core:WithinOneYear 2024-02-29 NI056698 uk-core:WithinOneYear 2023-02-28 NI056698 uk-core:AfterOneYear 2024-02-29 NI056698 uk-core:AfterOneYear 2023-02-28 NI056698 uk-core:AfterOneYear 2024-02-29 NI056698 uk-core:AfterOneYear 2023-02-28 NI056698 uk-core:AfterOneYear 2024-02-29 NI056698 uk-core:AfterOneYear 2023-02-28 NI056698 uk-core:AfterOneYear 2024-02-29 NI056698 uk-core:AfterOneYear 2023-02-28 NI056698 uk-core:BetweenOneTwoYears 2024-02-29 NI056698 uk-core:BetweenOneTwoYears 2023-02-28 NI056698 uk-core:BetweenTwoFiveYears 2024-02-29 NI056698 uk-core:BetweenTwoFiveYears 2023-02-28 NI056698 uk-core:MoreThanFiveYears 2024-02-29 NI056698 uk-core:MoreThanFiveYears 2023-02-28 NI056698 uk-core:BetweenOneFiveYears 2024-02-29 NI056698 uk-core:BetweenOneFiveYears 2023-02-28 NI056698 uk-core:OtherMiscellaneousReserve 2023-02-28 NI056698 uk-core:OtherMiscellaneousReserve 2023-03-01 2024-02-29 NI056698 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-02-29 NI056698 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-02-29 NI056698 uk-core:OtherDeferredTax 2024-02-29 NI056698 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-02-29 NI056698 uk-core:OtherMiscellaneousReserve 2024-02-29 NI056698 2023-03-01 2024-02-29 NI056698 uk-bus:Director1 2023-03-01 2024-02-29 NI056698 uk-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI056698
 
 
Jones McGirr & Co. Ltd
 
Unaudited Financial Statements
 
for the financial year ended 29 February 2024
Jones McGirr & Co. Ltd
Company Registration Number: NI056698
BALANCE SHEET
as at 29 February 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 37,879 29,242
───────── ─────────
 
Current Assets
Stocks 5 167,601 103,001
Debtors 6 124,966 38,999
Cash and cash equivalents 881 110
───────── ─────────
293,448 142,110
───────── ─────────
Creditors: amounts falling due within one year 7 (254,722) (157,520)
───────── ─────────
Net Current Assets/(Liabilities) 38,726 (15,410)
───────── ─────────
Total Assets less Current Liabilities 76,605 13,832
 
Creditors:
amounts falling due after more than one year 8 (35,630) (43,131)
 
Provisions for liabilities 9 17,945 34,147
 
Government grants 10 (645) (806)
───────── ─────────
Net Assets 58,275 4,042
═════════ ═════════
 
Capital and Reserves
Called up share capital 13,002 13,002
Retained earnings 45,273 (8,960)
───────── ─────────
Equity attributable to owners of the company 58,275 4,042
═════════ ═════════
 
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 Director's Report.
           
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges his 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 Director and authorised for issue on 22 October 2024
           
           
________________________________          
Mr. Michael McGirr          
Director          
           



Jones McGirr & Co. Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 29 February 2024

   
1. General Information
 
Jones McGirr & Co. Ltd is a company limited by shares incorporated in Northern Ireland. 73 Dooish Road, Dromore, Co Tyrone  BT78 3BA is the registered office, which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. 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 29 February 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 represents the total invoice value, excluding value added tax, of sales made during the year.
 
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:
 
  Plant and machinery - 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.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks 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.
 
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.
 
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.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 5 5
  ═════════ ═════════
       
4. Tangible assets
  Plant and Total
  machinery  
     
  £ £
Cost
At 1 March 2023 99,048 99,048
Additions 18,107 18,107
  ───────── ─────────
At 29 February 2024 117,155 117,155
  ───────── ─────────
Depreciation
At 1 March 2023 69,806 69,806
Charge for the financial year 9,470 9,470
  ───────── ─────────
At 29 February 2024 79,276 79,276
  ───────── ─────────
Net book value
At 29 February 2024 37,879 37,879
  ═════════ ═════════
At 28 February 2023 29,242 29,242
  ═════════ ═════════
           
4.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery 6,268 1,567 - -
  ═════════ ═════════ ═════════ ═════════
       
5. Stocks 2024 2023
  £ £
 
Raw materials 25,601 20,589
Finished goods and goods for resale 142,000 82,412
  ───────── ─────────
  167,601 103,001
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2024 2023
  £ £
 
Trade debtors 87,262 37,331
Other debtors 20,503 -
Taxation 17,201 1,668
  ───────── ─────────
  124,966 38,999
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 392 1,505
Bank loan 8,671 11,232
Loans 27,295 9,770
Net obligations under finance leases
and hire purchase contracts 2,269 -
Trade creditors 207,441 127,976
Taxation 3,360 1,936
Other creditors 1,911 1,594
Accruals:
Pension accrual 483 607
Other accruals 2,900 2,900
  ───────── ─────────
  254,722 157,520
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Loan 30,339 39,079
Finance leases and hire purchase contracts 4,926 -
Amounts owed to group undertakings 365 3,258
Amounts owed to related parties (Note 11) - 153
Director's loan accounts - 641
  ───────── ─────────
  35,630 43,131
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 36,358 22,507
Repayable between one and two years 5,572 13,513
Repayable between two and five years 17,575 25,566
Repayable in five years or more 7,192 -
  ───────── ─────────
  66,697 61,586
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 2,269 -
Repayable between one and five years 4,926 -
  ───────── ─────────
  7,195 -
  ═════════ ═════════
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 5,406 (39,553) (34,147) (22,826)
Charged to profit and loss 1,668 14,534 16,202 (11,321)
  ───────── ───────── ───────── ─────────
At financial year end 7,074 (25,019) (17,945) (34,147)
  ═════════ ═════════ ═════════ ═════════
       
10. Government Grants Deferred 2024 2023
  £ £
 
Capital grants received and receivable
At 1 March 2023 806 1,260
  ───────── ─────────
Amortisation
At 1 March 2023 (161) (454)
  ───────── ─────────
Net book value
At 29 February 2024 645 806
  ═════════ ═════════
At 1 March 2023 645 806
  ═════════ ═════════
           
11. 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.
 
The director of Jones McGirr & Co Ltd and his wife had an opening directors loan balance of £793 During the year a further £6,244 was borrowed and £7,037 repaid. At the year end, the director and his wife are owed £0 (2023:£793) from Jones McGirr & Co Ltd..

During the year Jones McGirr & Co. Ltd was charged £7,800 for the rental of business premises by F & M McGirr Partnership. The rental charge is not deemed to be higher than that of market value.

During the year Jones McGirr & Co. Ltd was charged £4,680 for equipment hire by F & M McGirr Partnership. The hire charge is not deemed to be higher than that of market value.