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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
NI057467
2023-05-01
2024-04-30
NI057467
2024-04-30
NI057467
2023-04-30
NI057467
2022-05-01
2023-04-30
NI057467
2023-04-30
NI057467
2022-04-30
NI057467
core:NetGoodwill
2023-05-01
2024-04-30
NI057467
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-05-01
2024-04-30
NI057467
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-01
2024-04-30
NI057467
core:MotorVehicles
2023-05-01
2024-04-30
NI057467
bus:Director1
2023-05-01
2024-04-30
NI057467
core:NetGoodwill
2023-04-30
NI057467
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-04-30
NI057467
core:NetGoodwill
2024-04-30
NI057467
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2024-04-30
NI057467
core:LandBuildings
2023-04-30
NI057467
core:MotorVehicles
2023-04-30
NI057467
core:LandBuildings
2024-04-30
NI057467
core:MotorVehicles
2024-04-30
NI057467
core:LandBuildings
2023-05-01
2024-04-30
NI057467
core:WithinOneYear
2024-04-30
NI057467
core:WithinOneYear
2023-04-30
NI057467
core:AfterOneYear
2024-04-30
NI057467
core:AfterOneYear
2023-04-30
NI057467
core:ShareCapital
2024-04-30
NI057467
core:ShareCapital
2023-04-30
NI057467
core:RetainedEarningsAccumulatedLosses
2024-04-30
NI057467
core:RetainedEarningsAccumulatedLosses
2023-04-30
NI057467
core:NetGoodwill
2023-04-30
NI057467
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-04-30
NI057467
core:LandBuildings
2023-04-30
NI057467
core:MotorVehicles
2023-04-30
NI057467
bus:Director2
2023-05-01
2024-04-30
NI057467
bus:SmallEntities
2023-05-01
2024-04-30
NI057467
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
NI057467
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
NI057467
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
NI057467
bus:FullAccounts
2023-05-01
2024-04-30
NI057467
core:OfficeEquipment
2023-05-01
2024-04-30
NI057467
core:LeaseholdImprovements
2023-05-01
2024-04-30
NI057467
core:OfficeEquipment
2023-04-30
NI057467
core:LeaseholdImprovements
2023-04-30
NI057467
core:OfficeEquipment
2024-04-30
NI057467
core:LeaseholdImprovements
2024-04-30
COMPANY REGISTRATION NUMBER:
NI057467
Tommy French Bookmakers Ltd |
|
Filleted Unaudited Financial Statements |
|
Tommy French Bookmakers Ltd |
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
Intangible assets |
5 |
|
732,647 |
814,051 |
Tangible assets |
6 |
|
1,795,358 |
1,171,154 |
|
|
------------ |
------------ |
|
|
2,528,005 |
1,985,205 |
|
|
|
|
|
Current assets
Debtors |
7 |
313,571 |
|
797,095 |
Cash at bank and in hand |
385,373 |
|
595,843 |
|
--------- |
|
------------ |
|
698,944 |
|
1,392,938 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
914,587 |
|
862,749 |
|
--------- |
|
------------ |
Net current (liabilities)/assets |
|
(
215,643) |
530,189 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
2,312,362 |
2,515,394 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
823,683 |
1,174,965 |
|
|
------------ |
------------ |
Net assets |
|
1,488,679 |
1,340,429 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
1,488,579 |
1,340,329 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,488,679 |
1,340,429 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Tommy French Bookmakers Ltd |
|
Statement of Financial Position (continued) |
|
30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
Thomas French
Company registration number:
NI057467
Tommy French Bookmakers Ltd |
|
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 64 William Street, Lurgan.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future having adequate funds to meet their obligations as they fall due.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% reducing balance |
|
Licences |
- |
10% reducing balance |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold Property |
- |
2% reducing balance |
|
Motor Vehicles |
- |
25% reducing balance |
|
Equipment |
- |
25% reducing balance |
|
Leasehold Improvements |
- |
2% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
44
(2023:
34
).
5.
Intangible assets
|
Goodwill |
Licences |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 May 2023 and 30 April 2024 |
2,331,062 |
649,999 |
2,981,061 |
|
------------ |
--------- |
------------ |
Amortisation |
|
|
|
At 1 May 2023 |
1,725,335 |
441,675 |
2,167,010 |
Charge for the year |
60,572 |
20,832 |
81,404 |
|
------------ |
--------- |
------------ |
At 30 April 2024 |
1,785,907 |
462,507 |
2,248,414 |
|
------------ |
--------- |
------------ |
Carrying amount |
|
|
|
At 30 April 2024 |
545,155 |
187,492 |
732,647 |
|
------------ |
--------- |
------------ |
At 30 April 2023 |
605,727 |
208,324 |
814,051 |
|
------------ |
--------- |
------------ |
|
|
|
|
6.
Tangible assets
|
Land and buildings |
Motor vehicles |
Equipment |
Leasehold Property |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 May 2023 |
1,385,064 |
117,052 |
652,930 |
51,018 |
2,206,064 |
Additions |
620,835 |
– |
123,120 |
– |
743,955 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
At 30 April 2024 |
2,005,899 |
117,052 |
776,050 |
51,018 |
2,950,019 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
Depreciation |
|
|
|
|
|
At 1 May 2023 |
549,921 |
32,921 |
452,068 |
– |
1,034,910 |
Charge for the year |
16,703 |
21,033 |
80,995 |
1,020 |
119,751 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
At 30 April 2024 |
566,624 |
53,954 |
533,063 |
1,020 |
1,154,661 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
Carrying amount |
|
|
|
|
|
At 30 April 2024 |
1,439,275 |
63,098 |
242,987 |
49,998 |
1,795,358 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
At 30 April 2023 |
835,143 |
84,131 |
200,862 |
51,018 |
1,171,154 |
|
------------ |
--------- |
--------- |
-------- |
------------ |
|
|
|
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
98,950 |
149,860 |
Other debtors |
214,621 |
647,235 |
|
--------- |
--------- |
|
313,571 |
797,095 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
261,656 |
171,834 |
Trade creditors |
212,954 |
305,508 |
Corporation tax |
209,037 |
165,646 |
Social security and other taxes |
10,120 |
9,423 |
Other creditors |
220,820 |
210,338 |
|
--------- |
--------- |
|
914,587 |
862,749 |
|
--------- |
--------- |
|
|
|
SECURITY The bank loans are secured by: (1) first legal mortgage/charge over: - (i) 64 William Street, Lurgan and attaching Bookmakers Licence/Goodwill (ii) 54 Ogle Street, Armagh and attaching Bookmakers Licence/Goodwill (iii)78 Main Street, Moira and attaching Bookmakers Licence/Goodwill (iv) 26 North Street, Lurgan and attaching Bookmakers Licence/Goodwill (2) personal guarantee of Mr
Thomas French
in respect of all monies obligations and liabilities to the borrower, limited to an aggregate principle amount of £1,000,000.
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
779,165 |
1,110,296 |
Other creditors |
44,518 |
64,669 |
|
--------- |
------------ |
|
823,683 |
1,174,965 |
|
--------- |
------------ |
|
|
|
10.
Director's advances, credits and guarantees
The following loans to directors were outstanding during the year Name Nature Opening Closing Highest Balance Balance Balance During Year £ £ £ Mr T French Personal 484,407 nil 920,081 Interest was charged on this loan at 2.25% per annum.
11.
Related party transactions
Included within other debtors is a loan outstanding from T.J.I.D.D. Ltd. The balance at the year end was £4,527 (2023: £2,414) This loan is on an interest free basis. Mr T French is a director and shareholder in T.J.I.D.D. Ltd. Included within other debtors is a loan outstanding from French Properties. Ltd. The balance at the year end was £75,929 (2023: £53,931). This loan is on an interest free basis. Mr T French is a director and shareholder in French Properties Ltd. Included within other debtors is a loan outstanding from French 44 Properties. Ltd. The balance at the year end was £36,908 (2023: £5,533). This loan is on an interest free basis. Mr T French is a director and shareholder in French 44 Properties Ltd. Included within other debtors is a loan outstanding from Ipsum Media Limited. The balance at the year end was £19,502 (2023: £13,226). This loan is on an interest free basis. Mr T French is a director in Ipsum Media Limited. Included within other creditors is a loan outstanding to Tommy French Competitions Ltd. The balance at the year end was £43,972 (2023: £81,813). This loan is on an interest free basis. Mr T French is a director and shareholder in Tommy French Competitions Ltd. Included within other creditors is a loan outstanding to B3T Gaming Ltd. The balance at the year end was £72,665 (2023: £139,828). This loan is on an interest free basis. Mr T French is a director and shareholder in B3T Gaming Ltd.