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REGISTERED NUMBER: NI608176 (Northern Ireland)













Tamnamore Joinery Ltd

Unaudited Financial Statements

for the Year Ended 31 July 2024






Tamnamore Joinery Ltd (Registered number: NI608176)

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










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 7


Tamnamore Joinery Ltd

Company Information
for the Year Ended 31 July 2024







Director: Mr P A Greenlee





Secretary: Mrs S Greenlee





Registered office: 42 Tamnaghmore Road
Tandragee
Co Armagh
BT62 2LS





Registered number: NI608176 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Tamnamore Joinery Ltd (Registered number: NI608176)

Statement of Financial Position
31 July 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 4 12,580 16,211

Current assets
Inventories 23,599 8,840
Receivables 5 64,612 50,134
Cash at bank 9,010 10,476
97,221 69,450
Payables
Amounts falling due within one year 6 (102,738 ) (73,547 )
Net current liabilities (5,517 ) (4,097 )
Total assets less current liabilities 7,063 12,114

Payables
Amounts falling due after more than one year 7 (4,238 ) (8,817 )

Provisions for liabilities 8 (2,265 ) (2,926 )
Net assets 560 371

Capital and reserves
Called up share capital 9 1 1
Retained earnings 559 370
Shareholders' funds 560 371

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Tamnamore Joinery Ltd (Registered number: NI608176)

Statement of Financial Position - continued
31 July 2024


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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 April 2025 and were signed by:





Mr P A Greenlee - Director


Tamnamore Joinery Ltd (Registered number: NI608176)

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


1. Statutory information

Tamnamore Joinery Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Inventories
Work in progress is valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Tamnamore Joinery Ltd (Registered number: NI608176)

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


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount. Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Critical accounting judgements and key sources of estimation uncertainty
Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

Work in progress
The company recognises work in progress in respect of the stage of completion of building projects which have not been invoiced at the reporting date. This requires an estimation of the stage of completion of each particular project commenced but not complete at the reporting date. The carrying amount of closing inventories and work in progress at 31 July 2024 is £23,599 (2023: £8,840)

3. Employees and directors

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

Tamnamore Joinery Ltd (Registered number: NI608176)

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


4. Property, plant and equipment
Plant and Motor Computer
machinery vehicles equipment Totals
£ £ £ £
Cost
At 1 August 2023
and 31 July 2024 25,735 19,100 3,714 48,549
Depreciation
At 1 August 2023 19,102 10,301 2,935 32,338
Charge for year 1,327 1,759 545 3,631
At 31 July 2024 20,429 12,060 3,480 35,969
Net book value
At 31 July 2024 5,306 7,040 234 12,580
At 31 July 2023 6,633 8,799 779 16,211

5. Receivables: amounts falling
due within one year
2024 2023
£ £
Trade receivables 52,102 37,300
Other receivables 12,510 12,834
64,612 50,134

Included within other receivables is an amount of £3,630 (2023: £8,667) owing to the company by the director, Mr Philip Greenlee.

6. Payables: amounts falling due
within one year
2024 2023
£ £
Bank loans and overdrafts 4,600 4,600
Trade payables 27,751 7,555
Taxation and social security 11,534 6,165
Other payables 58,853 55,227
102,738 73,547

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 4,238 8,817

8. Provisions for liabilities
2024 2023
£ £
Deferred tax
Accelerated capital allowances 2,265 2,926

Tamnamore Joinery Ltd (Registered number: NI608176)

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


8. Provisions for liabilities - continued

Deferred tax
£
Balance at 1 August 2023 2,926
Credit to Statement of income and retained earnings during year (661 )
Balance at 31 July 2024 2,265

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary shares 1 1 1

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£ £
Mr P A Greenlee
Balance outstanding at start of year 8,667 (96 )
Amounts advanced 33,213 22,896
Amounts repaid (38,250 ) (14,133 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,630 8,667