CHARLES O'DOHERTY & SONS LIMITED

Company Registration Number:
NI003294 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 December 2024

Period of accounts

Start date: 1 January 2024

End date: 31 December 2024

CHARLES O'DOHERTY & SONS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2024

Balance sheet
Additional notes
Balance sheet notes

CHARLES O'DOHERTY & SONS LIMITED

Balance sheet

As at 31 December 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 4,254 4,964
Total fixed assets: 4,254 4,964
Current assets
Debtors: 4 1,017 2,383
Cash at bank and in hand: 271,935 417,713
Total current assets: 272,952 420,096
Creditors: amounts falling due within one year: 5 ( 22,496 ) ( 53,832 )
Net current assets (liabilities): 250,456 366,264
Total assets less current liabilities: 254,710 371,228
Provision for liabilities: ( 808 ) ( 943 )
Total net assets (liabilities): 253,902 370,285
Capital and reserves
Called up share capital: 6,500 6,500
Share premium account: 3,500 3,500
Profit and loss account: 243,902 360,285
Total Shareholders' funds: 253,902 370,285

The notes form part of these financial statements

CHARLES O'DOHERTY & SONS LIMITED

Balance sheet statements

For the year ending 31 December 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 14 March 2025
and signed on behalf of the board by:

Name: Charles O'Doherty
Status: Director

The notes form part of these financial statements

CHARLES O'DOHERTY & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    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 - 10% reducing balance Motor vehicles - 25% reducing balance At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    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. 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. Employee benefits The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers. 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.

CHARLES O'DOHERTY & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

CHARLES O'DOHERTY & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2024 4,900 7,995 12,895
Additions
Disposals
Revaluations
Transfers
At 31 December 2024 4,900 7,995 12,895
Depreciation
At 1 January 2024 1,359 6,572 7,931
Charge for year 354 356 710
On disposals
Other adjustments
At 31 December 2024 1,713 6,928 8,641
Net book value
At 31 December 2024 3,187 1,067 4,254
At 31 December 2023 3,541 1,423 4,964

CHARLES O'DOHERTY & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

4. Debtors

2024 2023
£ £
Prepayments and accrued income 397 1,134
Other debtors 620 1,249
Total 1,017 2,383

CHARLES O'DOHERTY & SONS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 318 894
Accruals and deferred income 1,000 1,750
Other creditors 21,178 51,188
Total 22,496 53,832