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REGISTERED NUMBER: NI623254 (Northern Ireland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Wm T J Wylie Limited

Wm T J Wylie Limited (Registered number: NI623254)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wm T J Wylie Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs P S Wylie
J Wylie





SECRETARY:





REGISTERED OFFICE: 88 Drumflugh Road
Benburb
Co. Armagh
BT71 7QF





REGISTERED NUMBER: NI623254 (Northern Ireland)





ACCOUNTANTS: WHR Accountants Ltd
Chartered Certified Accountants
Statutory Auditors
56 English Street
Armagh
Co. Armagh
BT61 7LG

Wm T J Wylie Limited (Registered number: NI623254)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 10,000
Tangible assets 5 224,092 231,026
224,092 241,026

CURRENT ASSETS
Stocks 6,000 25,000
Debtors 6 111,382 58,464
Cash at bank and in hand 119,247 32,156
236,629 115,620
CREDITORS
Amounts falling due within one year 7 194,317 234,888
NET CURRENT ASSETS/(LIABILITIES) 42,312 (119,268 )
TOTAL ASSETS LESS CURRENT LIABILITIES 266,404 121,758

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 266,402 121,756
266,404 121,758

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 29 January 2025 and were signed on its behalf by:





J Wylie - Director


Wm T J Wylie Limited (Registered number: NI623254)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Wm T J Wylie Limited 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. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

Wm T J Wylie Limited (Registered number: NI623254)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 50,000
AMORTISATION
At 1 April 2023 40,000
Charge for year 10,000
At 31 March 2024 50,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 10,000

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2023 131,724 133,179 2,967 267,870
Additions - 650 2,679 3,329
At 31 March 2024 131,724 133,829 5,646 271,199
DEPRECIATION
At 1 April 2023 - 35,344 1,500 36,844
Charge for year - 9,848 415 10,263
At 31 March 2024 - 45,192 1,915 47,107
NET BOOK VALUE
At 31 March 2024 131,724 88,637 3,731 224,092
At 31 March 2023 131,724 97,835 1,467 231,026

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 103,680 44,725
Other debtors - 2,500
VAT 7,702 11,239
111,382 58,464

Wm T J Wylie Limited (Registered number: NI623254)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Loan A/c 22,381 32,317
Trade creditors 69,389 5,330
Tax 55,054 19,359
Deferred tax 22,087 17,936
Social security and other taxes 857 -
Directors' current accounts 23,549 158,946
Accrued expenses 1,000 1,000
194,317 234,888