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REGISTERED NUMBER: NI636394 (Northern Ireland)















FINANCIAL STATEMENTS FOR THE PERIOD 1 MAY 2023 TO 31 OCTOBER 2024

FOR

TEEMORE AGRICULTURAL LTD

TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 MAY 2023 TO 31 OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


TEEMORE AGRICULTURAL LTD

COMPANY INFORMATION
for the Period 1 MAY 2023 TO 31 OCTOBER 2024







DIRECTOR: Mr C Wilson





SECRETARY: Mr C Wilson





REGISTERED OFFICE: Knockaraven
Teemore
Enniskillen
Co. Fermanagh
BT92 9BL





REGISTERED NUMBER: NI636394 (Northern Ireland)





AUDITORS: Patton Rainey Stenson Limited
Chartered Accountants and Statutory Auditors
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

BALANCE SHEET
31 OCTOBER 2024

31.10.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,302,968 1,094,045

CURRENT ASSETS
Debtors 5 154,411 99,853
Cash at bank 12,891 2,804
167,302 102,657
CREDITORS
Amounts falling due within one year 6 1,318,922 891,725
NET CURRENT LIABILITIES (1,151,620 ) (789,068 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,348

304,977

CREDITORS
Amounts falling due after more than one
year

7

264,731

382,704
NET LIABILITIES (113,383 ) (77,727 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 (113,483 ) (77,827 )
SHAREHOLDERS' FUNDS (113,383 ) (77,727 )

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 director and authorised for issue on 19 June 2025 and were signed by:





Mr C Wilson - Director


TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 MAY 2023 TO 31 OCTOBER 2024


1. STATUTORY INFORMATION

Teemore Agricultural 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. 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance

Taxation
Taxation for the period 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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 MAY 2023 TO 31 OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 May 2023 1,085,456 17,803 1,103,259
Additions 206,595 5,498 212,093
At 31 October 2024 1,292,051 23,301 1,315,352
DEPRECIATION
At 1 May 2023 - 9,214 9,214
Charge for period - 3,170 3,170
At 31 October 2024 - 12,384 12,384
NET BOOK VALUE
At 31 October 2024 1,292,051 10,917 1,302,968
At 30 April 2023 1,085,456 8,589 1,094,045

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 30.4.23
£    £   
Trade debtors 145,644 91,086
Other debtors 100 100
Prepayments and accrued income 8,667 8,667
154,411 99,853

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 30.4.23
£    £   
Bank loans and overdrafts (see note 8) 110,819 107,971
Amounts owed to group undertakings 1,199,853 777,384
VAT 1,569 -
Accruals and deferred income 6,681 6,370
1,318,922 891,725

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 30.4.23
£    £   
Bank loans (see note 8) 264,731 382,704

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 70,733 99,689

TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 MAY 2023 TO 31 OCTOBER 2024


8. LOANS

An analysis of the maturity of loans is given below:

31.10.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 110,819 107,971

Amounts falling due between one and two years:
Bank loans - 1-2 years 99,441 194,095

Amounts falling due between two and five years:
Bank loans - 2-5 years 94,557 88,920

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 70,733 99,689

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.24 30.4.23
£    £   
Bank loans 375,550 490,675

The bank loans are secured by a fixed and floating charge over the land and property of the company along with a charge over the house yard and lands at Glassmullagh Road, Derrylin.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.24 30.4.23
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained
earnings
£   

At 1 May 2023 (77,827 )
Deficit for the period (35,656 )
At 31 October 2024 (113,483 )

TEEMORE AGRICULTURAL LTD (REGISTERED NUMBER: NI636394)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 MAY 2023 TO 31 OCTOBER 2024


12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Thomas S Patton (Senior Statutory Auditor)
for and on behalf of Patton Rainey Stenson Limited

13. RELATED PARTY DISCLOSURES

Teemore Engineering Limited is a related party company by virtue of common ownership and the amount due at the period end amounted to £1,199,853 (2023: £777,384).

14. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Teemore Holdings Limited, which is incorporated in Northern Ireland. Teemore Holdings Limited is under the ultimate control of Mr C Wilson.

15. GOING CONCERN

The company made a loss for the period ended 31 October 2024 of £35,656 (2023 £17,874) and its liabilities exceeded it assets by £113,383 (2023 £77,727)

The company is dependent on the support of Teemore Engineering Limited, Mr C Wilson, its bankers to meet its commitments as they fall due.

Given the commitments and assurances by Mr C Wilson and Teemore Engineering Limited of their continued financial support, the director believes that the going concern basis is appropriate for this company.