IRIS Accounts Production v24.2.0.383 NI045444 Board of Directors Board of Directors 1.5.23 30.4.24 30.4.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0454442023-04-30NI0454442024-04-30NI0454442023-05-012024-04-30NI0454442022-04-30NI0454442022-05-012023-04-30NI0454442023-04-30NI045444ns15:NorthernIreland2023-05-012024-04-30NI045444ns14:PoundSterling2023-05-012024-04-30NI045444ns10:Director12023-05-012024-04-30NI045444ns10:Director22023-05-012024-04-30NI045444ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30NI045444ns10:SmallEntities2023-05-012024-04-30NI045444ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-30NI045444ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30NI045444ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30NI045444ns10:FullAccounts2023-05-012024-04-30NI045444ns10:Director32023-05-012024-04-30NI045444ns10:Director42023-05-012024-04-30NI045444ns10:RegisteredOffice2023-05-012024-04-30NI045444ns5:CurrentFinancialInstruments2024-04-30NI045444ns5:CurrentFinancialInstruments2023-04-30NI045444ns5:Non-currentFinancialInstruments2024-04-30NI045444ns5:Non-currentFinancialInstruments2023-04-30NI045444ns5:ShareCapital2024-04-30NI045444ns5:ShareCapital2023-04-30NI045444ns5:RetainedEarningsAccumulatedLosses2024-04-30NI045444ns5:RetainedEarningsAccumulatedLosses2023-04-30NI045444ns5:PlantMachinery2023-05-012024-04-30NI045444ns5:FurnitureFittings2023-05-012024-04-30NI045444ns5:LandBuildings2023-04-30NI045444ns5:PlantMachinery2023-04-30NI045444ns5:FurnitureFittings2023-04-30NI045444ns5:MotorVehicles2023-04-30NI045444ns5:LandBuildings2023-05-012024-04-30NI045444ns5:MotorVehicles2023-05-012024-04-30NI045444ns5:LandBuildings2024-04-30NI045444ns5:PlantMachinery2024-04-30NI045444ns5:FurnitureFittings2024-04-30NI045444ns5:MotorVehicles2024-04-30NI045444ns5:LandBuildings2023-04-30NI045444ns5:PlantMachinery2023-04-30NI045444ns5:FurnitureFittings2023-04-30NI045444ns5:MotorVehicles2023-04-30NI045444ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-04-30NI045444ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-04-30
REGISTERED NUMBER: NI045444 (Northern Ireland)















IRWIN FARM SUPPLIES LTD

Unaudited Financial Statements for the Year Ended 30 April 2024






IRWIN FARM SUPPLIES LTD (REGISTERED NUMBER: NI045444)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


IRWIN FARM SUPPLIES LTD

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Helen Irwin
James Irwin
Jennifer Anne Irwin
Nigel Irwin





REGISTERED OFFICE: 4 Carrowcolman Road
Eglish
Co. Tyrone
BT71 7LF





REGISTERED NUMBER: NI045444 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

IRWIN FARM SUPPLIES LTD (REGISTERED NUMBER: NI045444)

Statement of Financial Position
30 APRIL 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 92,980 66,746

CURRENT ASSETS
Inventories 831,315 759,854
Receivables 6 815,027 877,903
Cash at bank 119,585 197,802
1,765,927 1,835,559
PAYABLES
Amounts falling due within one year 7 (1,047,250 ) (1,158,996 )
NET CURRENT ASSETS 718,677 676,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

811,657

743,309

PAYABLES
Amounts falling due after more than
one year

8

(18,526

)

(21,271

)

PROVISIONS FOR LIABILITIES (18,075 ) (12,681 )
NET ASSETS 775,056 709,357

CAPITAL AND RESERVES
Called up share capital 400 400
Retained earnings 774,656 708,957
775,056 709,357

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each 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.

IRWIN FARM SUPPLIES LTD (REGISTERED NUMBER: NI045444)

Statement of Financial Position - continued
30 APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by:




James Irwin - Director



Nigel Irwin - Director


IRWIN FARM SUPPLIES LTD (REGISTERED NUMBER: NI045444)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Irwin Farm Supplies Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% reducing balance
Fixtures and fittings - 15% reducing balance

Inventories
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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

IRWIN FARM SUPPLIES LTD (REGISTERED NUMBER: NI045444)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
COST
At 1 May 2023 11,764 189,703 50,396 41,750 293,613
Additions - - 21,383 21,995 43,378
At 30 April 2024 11,764 189,703 71,779 63,745 336,991
DEPRECIATION
At 1 May 2023 11,764 151,138 44,107 19,858 226,867
Charge for year - 7,713 2,361 7,070 17,144
At 30 April 2024 11,764 158,851 46,468 26,928 244,011
NET BOOK VALUE
At 30 April 2024 - 30,852 25,311 36,817 92,980
At 30 April 2023 - 38,565 6,289 21,892 66,746

6. RECEIVABLES
2024 2023
£ £
Trade receivables 812,801 877,903
Other debtors 2,226 -
815,027 877,903

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts 21,074 13,742
Trade payables 472,502 677,091
Amounts owed to group undertakings 420,108 281,023
Taxation and social security 37,543 86,005
Other payables 96,023 101,135
1,047,250 1,158,996

8. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Hire purchase contracts 18,526 21,271