BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The company's mission is to promote the regeneration of industry, commerce and the environment in the town of Tandragee and vicinity thereof, and to encourage property owners to maintain and refurbish properties to a level complimentary to the towns facade.

The company acquired property in Tandragee, developed it into a fully serviced business centre with commercial premises for rental and had previously undertaken a phased realisation of this property.

Planning permission has been applied for to redevelop the site.
23 January 2025 7 8
NI032286 2024-04-30 NI032286 2023-04-30 NI032286 2022-04-30 NI032286 2023-05-01 2024-04-30 NI032286 2022-05-01 2023-04-30 NI032286 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI032286 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI032286 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI032286 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI032286 uk-bus:Director1 2023-05-01 2024-04-30 NI032286 uk-bus:Director2 2023-05-01 2024-04-30 NI032286 uk-bus:Director3 2023-05-01 2024-04-30 NI032286 uk-bus:Director4 2023-05-01 2024-04-30 NI032286 uk-bus:Director5 2023-05-01 2024-04-30 NI032286 uk-bus:Director6 2023-05-01 2024-04-30 NI032286 uk-bus:CompanySecretary1 2023-05-01 2024-04-30 NI032286 uk-bus:RegisteredOffice 2023-05-01 2024-04-30 NI032286 uk-bus:Agent1 2023-05-01 2024-04-30 NI032286 uk-core:RevaluationReserve 2024-04-30 NI032286 uk-core:RevaluationReserve 2023-04-30 NI032286 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI032286 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI032286 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI032286 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI032286 uk-bus:FRS102 2023-05-01 2024-04-30 NI032286 uk-core:ComputerEquipment 2023-05-01 2024-04-30 NI032286 uk-core:CurrentFinancialInstruments 2024-04-30 NI032286 uk-core:CurrentFinancialInstruments 2023-04-30 NI032286 uk-core:WithinOneYear 2024-04-30 NI032286 uk-core:WithinOneYear 2023-04-30 NI032286 2023-05-01 2024-04-30 NI032286 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI032286
 
 
Tandragee Development Initiative Limited
(A company limited by guarantee, not having a share capital)
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024
Tandragee Development Initiative Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS AND OTHER INFORMATION

 
Directors J. Flannigan
T.M.A. Hamill
M.J. Lynch
J.R. Whitten
R.W. Turner
L. Warren
 
 
Company Secretary T. Hamill
 
 
Company Registration Number NI032286
 
 
Registered Office and Business Address 38 Tullymore Road
Banbridge
Co. Armagh
BT32 3PF
Northern Ireland
 
 
Accountants MG accountants (Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers Progressive Building Society
  33/37 Wellington Place
  Belfast
  BT1 6HH
  Northern Ireland
   
   
  Bank of Ireland
  43 High Sreet
  Portadown
  Co. Armagh
  BT62 1HY
 
   
Solicitors Hagan & McConville
  34 Edward Street
  Portadown
  Co Armagh
  BT62 3NE



Tandragee Development Initiative Limited
(A company limited by guarantee, not having a share capital)
Company Registration Number: NI032286
BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 120,000 120,000
───────── ─────────
 
Current Assets
Debtors 5 1,773 2,329
Cash and cash equivalents 374,532 349,902
───────── ─────────
376,305 352,231
───────── ─────────
Creditors: amounts falling due within one year 6 (10,200) (2,811)
───────── ─────────
Net Current Assets 366,105 349,420
───────── ─────────
Total Assets less Current Liabilities 486,105 469,420
═════════ ═════════
 
Reserves
Revaluation reserve 254,996 254,996
Retained surplus 231,109 214,424
───────── ─────────
Equity attributable to owners of the company 486,105 469,420
═════════ ═════════
 
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 30 April 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 23 January 2025 and signed on its behalf by
           
           
________________________________          
T.M.A. Hamill          
Director          
           



Tandragee Development Initiative Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Tandragee Development Initiative Limited is a company limited by guarantee incorporated in Northern Ireland. The registered office of the company is 38 Tullymore Road, Banbridge, Co. Armagh, BT32 3PF, Northern Ireland 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 Directors' 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 30 April 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
 
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:
 
  Fixtures, fittings and equipment - 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.
 
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.
 
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.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 7, (2023 - 8).
 
  2024 2023
  Number Number
 
Directors 7 8
  ═════════ ═════════
       
4. Tangible assets
  Investment Fixtures,
  properties fittings and
    equipment
  £ £
Cost
At 1 May 2023 120,000 2,903
  ───────── ─────────
 
At 30 April 2024 120,000 2,903
  ───────── ─────────
Depreciation
At 1 May 2023 - 2,903
  ───────── ─────────
 
At 30 April 2024 - 2,903
  ───────── ─────────
Net book value
At 30 April 2024 120,000 -
  ═════════ ═════════
At 30 April 2023 120,000 -
  ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 1,200 1,500
Prepayments and accrued income 573 829
  ───────── ─────────
  1,773 2,329
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Taxation  (Note 7) 3,356 1,701
Other creditors 3,717 -
Accruals and deferred income 3,127 1,110
  ───────── ─────────
  10,200 2,811
  ═════════ ═════════
       
7. Taxation 2024 2023
  £ £
 
Creditors:
VAT 751 1,701
Corporation tax 2,605 -
  ───────── ─────────
  3,356 1,701
  ═════════ ═════════