Tullyherron Farm Feeds Ltd NI056504 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is to provide high quality feedstuffs to livestock farmers. Digita Accounts Production Advanced 6.30.9574.0 true NI056504 2023-10-01 2024-09-30 NI056504 2024-09-30 NI056504 bus:OrdinaryShareClass1 2024-09-30 NI056504 core:RetainedEarningsAccumulatedLosses 2024-09-30 NI056504 core:ShareCapital 2024-09-30 NI056504 core:CurrentFinancialInstruments 2024-09-30 NI056504 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 NI056504 core:ConstructionInProgressAssetsUnderConstruction 2024-09-30 NI056504 core:FurnitureFittings 2024-09-30 NI056504 core:MotorVehicles 2024-09-30 NI056504 core:OfficeEquipment 2024-09-30 NI056504 core:OtherPropertyPlantEquipment 2024-09-30 NI056504 core:PlantMachinery 2024-09-30 NI056504 bus:SmallEntities 2023-10-01 2024-09-30 NI056504 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 NI056504 bus:FilletedAccounts 2023-10-01 2024-09-30 NI056504 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI056504 bus:RegisteredOffice 2023-10-01 2024-09-30 NI056504 bus:Director1 2023-10-01 2024-09-30 NI056504 bus:Director2 2023-10-01 2024-09-30 NI056504 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 NI056504 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI056504 core:ComputerSoftware 2023-10-01 2024-09-30 NI056504 core:ConstructionInProgressAssetsUnderConstruction 2023-10-01 2024-09-30 NI056504 core:FurnitureFittings 2023-10-01 2024-09-30 NI056504 core:MotorVehicles 2023-10-01 2024-09-30 NI056504 core:OfficeEquipment 2023-10-01 2024-09-30 NI056504 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 NI056504 core:PlantMachinery 2023-10-01 2024-09-30 NI056504 core:VehiclesPlantMachinery 2023-10-01 2024-09-30 NI056504 countries:NorthernIreland 2023-10-01 2024-09-30 NI056504 2023-09-30 NI056504 core:ConstructionInProgressAssetsUnderConstruction 2023-09-30 NI056504 core:FurnitureFittings 2023-09-30 NI056504 core:MotorVehicles 2023-09-30 NI056504 core:OfficeEquipment 2023-09-30 NI056504 core:OtherPropertyPlantEquipment 2023-09-30 NI056504 core:PlantMachinery 2023-09-30 NI056504 2022-10-01 2023-09-30 NI056504 2023-09-30 NI056504 bus:OrdinaryShareClass1 2023-09-30 NI056504 core:RetainedEarningsAccumulatedLosses 2023-09-30 NI056504 core:ShareCapital 2023-09-30 NI056504 core:CurrentFinancialInstruments 2023-09-30 NI056504 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 NI056504 core:ConstructionInProgressAssetsUnderConstruction 2023-09-30 NI056504 core:FurnitureFittings 2023-09-30 NI056504 core:MotorVehicles 2023-09-30 NI056504 core:OfficeEquipment 2023-09-30 NI056504 core:OtherPropertyPlantEquipment 2023-09-30 NI056504 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI056504

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 September 2024

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Company Information

Directors

Paul Sloan

Kieran Shields

Registered office

38 Tullyherron Road
Mountnorris
Co Armagh
BT60 2UF

Accountants

Kennedy & Co
Chartered Certified Accountants
21 Kilmorey Street
Newry
Co Down
BT34 2DF

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

(Registration number: NI056504)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

21,817

-

Tangible assets

5

419,537

446,925

 

441,354

446,925

Current assets

 

Stocks

188,706

250,162

Debtors

1,772,893

1,766,748

Cash at bank and in hand

 

2,142,643

1,473,657

 

4,104,242

3,490,567

Prepayments and accrued income

 

14,146

23,202

Creditors: Amounts falling due within one year

(747,366)

(492,201)

Net current assets

 

3,371,022

3,021,568

Total assets less current liabilities

 

3,812,376

3,468,493

Provisions for liabilities

(107,894)

(108,789)

Accruals and deferred income

 

(164,915)

(140,572)

Net assets

 

3,539,567

3,219,132

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

3,538,567

3,218,132

Shareholders' funds

 

3,539,567

3,219,132

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

(Registration number: NI056504)
Abridged Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorised by the Board on 12 February 2025 and signed on its behalf by:
 

..........................................................

 

Paul Sloan

Director

..........................................................

 

Kieran Shields

Director

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
38 Tullyherron Road
Mountnorris
Co Armagh
BT60 2UF

These financial statements were authorised for issue by the Board on 12 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

All members have consented to the abridgements of these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of farm feeds and services is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually dispatch of the goods.

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Foreign currency transactions and balances

Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction.

Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

10% reducing balance

Plant and Machinery

15% reducing balance

Mixing Plant and Portacabin

10% reducing balance

Motor Vehicles

25% reducing balance

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Office Equipment

15% reducing balance

Amortisation

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Asset class

Amortisation method and rate

Computer Software

10% S.L.

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Trade creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Borrowings

Loans and borrowings are recognised at the transaction price including transaction costs.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

Where goods are sold using finance leases, the entity recognises turnover from the sale of goods and the rights to receive future lease payments as a debtor. Minimum lease payments are apportioned between finance income and the reduction of the lease debtor with finance income allocated so as to produce a constant periodic rate of interest on the net investment in the finance lease.

Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 9 (2023 - 9).

4

Intangible assets

Total
£

Cost or valuation

Additions acquired separately

24,241

At 30 September 2024

24,241

Amortisation

Foreign exchange movements

2,424

At 30 September 2024

2,424

Carrying amount

At 30 September 2024

21,817

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Fixtures and Fittings
£

Mixing Plant
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Portacabin
£

Total
£

Cost or valuation

At 1 October 2023

2,012

801,824

405,919

7,835

99,141

9,500

1,326,231

Additions

-

33,480

1,550

-

-

-

35,030

At 30 September 2024

2,012

835,304

407,469

7,835

99,141

9,500

1,361,261

Depreciation

At 1 October 2023

1,551

535,355

281,479

6,112

46,893

7,916

879,306

Charge for the year

46

29,995

18,899

258

13,062

158

62,418

At 30 September 2024

1,597

565,350

300,378

6,370

59,955

8,074

941,724

Carrying amount

At 30 September 2024

415

269,954

107,091

1,465

39,186

1,426

419,537

At 30 September 2023

461

266,469

124,440

1,723

52,248

1,584

446,925

 

Tullyherron Farm Feeds Ltd

trading as Tullyherron Farm Feeds

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000