Taughlumny Poultry Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: NI615149

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,087,808		1,149,134

			1,087,808		1,149,134
CURRENT ASSETS
Debtors	5	262,176		235,901
Cash at bank and in hand		57,578		25,642

		319,754		261,543
Creditors: Amounts Falling Due Within One Year	6	(558,219 )		(721,816 )

NET CURRENT ASSETS (LIABILITIES)			(238,465 )		(460,273 )

TOTAL ASSETS LESS CURRENT LIABILITIES			849,343		688,861

PROVISIONS FOR LIABILITIES
Deferred Taxation			(49,156 )		(24,107 )

NET ASSETS			800,187		664,754

CAPITAL AND RESERVES
Called up share capital	7		100		100
Profit and Loss Account			800,087		664,654

SHAREHOLDERS' FUNDS			800,187		664,754

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Taughlumny Poultry Ltd

Balance Sheet (continued)

As At 31 October 2024

For the year ending 31 October 2024 the company was entitled to exemption from audit 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 company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr William Thomas Gamble

Director

27 March 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Taughlumny Poultry Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI615149 . The registered office is Quaker Buildings, High Street, Lurgan, Craigavon, BT66 8BB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold	- not provided
Plant & Machinery	- 25% and 10% on reducing balance

2.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 2)

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Taughlumny Poultry Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 November 2023	878,043	450,714	1,328,757

As at 31 October 2024	878,043	450,714	1,328,757

Depreciation
As at 1 November 2023	-	179,623	179,623
Provided during the period	-	61,326	61,326

As at 31 October 2024	-	240,949	240,949

Net Book Value
As at 31 October 2024	878,043	209,765	1,087,808

As at 1 November 2023	878,043	271,091	1,149,134

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	250,322	221,606
Other debtors	11,854	14,295

	262,176	235,901

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	198,779	197,872
Bank loans and overdrafts	326,425	520,395
Other creditors	2,367	3,549
Taxation and social security	30,648	-

	558,219	721,816

7. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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Taughlumny Poultry Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

8. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 November 2023 £	Amounts advanced £	Amounts repaid £	Amounts written off £	As at 31 October 2024 £
Mr William Thomas Gamble & Mrs Margaret Janet Gamble	3,472	20,000	20,000	-	3,472

Loan balances are repayable on demand. The interest rate applied is the official rate for beneficial loan arrangements.

9. Related Party Transactions

During the year dividends totalling £20,000 were paid to the directors.

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