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REGISTERED NUMBER: NI676695 (Northern Ireland)















ERGANAGH FARM GROUP LTD

Unaudited Financial Statements for the Year Ended 31 October 2024






ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ERGANAGH FARM GROUP LTD

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTORS: Stephen Allen
Hazel Allen
Andrew Robert Allen
Stewart Matthew Allen





REGISTERED OFFICE: 29 Erganagh Road
Castlederg
Co. Tyrone
BT81 7JQ





REGISTERED NUMBER: NI676695 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Statement of Financial Position
31 OCTOBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Intangible assets 5 500,000 500,000
Tangible assets 6 1,166,820 1,033,954
1,666,820 1,533,954

CURRENT ASSETS
Stocks 259,719 346,248
Receivables: amounts falling due within
one year

7

467,055

399,965
Cash at bank 31,232 52,244
758,006 798,457
PAYABLES
Amounts falling due within one year 8 (1,050,646 ) (1,122,756 )
NET CURRENT LIABILITIES (292,640 ) (324,299 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,374,180

1,209,655

PAYABLES
Amounts falling due after more than
one year

9

(194,472

)

(290,695

)

PROVISIONS FOR LIABILITIES 10 (240,006 ) (194,441 )
NET ASSETS 939,702 724,519

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 389,914 389,914
Retained earnings 549,688 334,505
939,702 724,519

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

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

The directors acknowledge their 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.

ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Statement of Financial Position - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:




Stephen Allen - Director



Hazel Allen - Director


ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Erganagh Farm Group 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation.
Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment less their estimated residual value, over their expected useful lives as follows:


Plant and machinery-20% reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Stocks are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

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.


ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

3. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2021. No amortisation is charged in respect of same.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 November 2023
and 31 October 2024 500,000
NET BOOK VALUE
At 31 October 2024 500,000
At 31 October 2023 500,000

ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

6. PROPERTY, PLANT AND EQUIPMENT
Long Plant and
leasehold machinery Totals
£ £ £
COST OR VALUATION
At 1 November 2023 111,743 1,285,045 1,396,788
Additions - 335,354 335,354
Disposals - (48,981 ) (48,981 )
At 31 October 2024 111,743 1,571,418 1,683,161
DEPRECIATION
At 1 November 2023 7,931 354,903 362,834
Charge for year 2,879 167,724 170,603
Eliminated on disposal - (17,096 ) (17,096 )
At 31 October 2024 10,810 505,531 516,341
NET BOOK VALUE
At 31 October 2024 100,933 1,065,887 1,166,820
At 31 October 2023 103,812 930,142 1,033,954

Cost or valuation at 31 October 2024 is represented by:

Long Plant and
leasehold machinery Totals
£ £ £
Valuation in 2022 111,743 1,285,045 1,396,788
Valuation in 2023 - 286,373 286,373
111,743 1,571,418 1,683,161

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 418,424 336,918
Other debtors 48,631 63,047
467,055 399,965

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 300,909 308,695
Hire purchase contracts 147,621 147,706
Trade payables 207,667 143,589
Amounts owed to group undertakings - 29,695
Amounts owed to associates 383,382 436,577
Taxation and social security 3,458 4,201
Other payables 7,609 52,293
1,050,646 1,122,756

ERGANAGH FARM GROUP LTD (REGISTERED NUMBER: NI676695)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 8,780 19,538
Hire purchase contracts 185,692 271,157
194,472 290,695

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 240,006 194,441

Deferred Other
tax provisions
£ £
Balance at 1 November 2023 194,441 174,502
Charge to Income Statement during year 45,565 -
Balance at 31 October 2024 240,006 174,502