Company Registration No. NI051896 (Northern Ireland)
Tony Patterson Sportsgrounds Ltd
Unaudited accounts
for the year ended 31 October 2024
Tony Patterson Sportsgrounds Ltd
Unaudited accounts
Contents
Tony Patterson Sportsgrounds Ltd
Company Information
for the year ended 31 October 2024
Directors
Tony Patterson
Paul Patterson
John Patterson
Liam Haslem
Patrick Farrell
Company Number
NI051896 (Northern Ireland)
Registered Office
49 Ballynahinch Road
Saintfield
BT24 7ND
Northern Ireland
Tony Patterson Sportsgrounds Ltd
Statement of financial position
as at 31 October 2024
Tangible assets
1,612,644
1,543,548
Inventories
2,733,648
2,356,079
Cash at bank and in hand
787,141
1,067,825
Creditors: amounts falling due within one year
(2,149,876)
(1,105,238)
Net current assets
2,878,247
2,447,258
Total assets less current liabilities
4,490,891
3,990,806
Creditors: amounts falling due after more than one year
(115,439)
(122,280)
Provisions for liabilities
Deferred tax
(268,196)
(251,004)
Net assets
4,107,256
3,617,522
Called up share capital
1,000
1,000
Profit and loss account
4,106,256
3,616,522
Shareholders' funds
4,107,256
3,617,522
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by
Liam Haslem
Director
Company Registration No. NI051896
Tony Patterson Sportsgrounds Ltd
Notes to the Accounts
for the year ended 31 October 2024
Tony Patterson Sportsgrounds Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI051896. The registered office is 49 Ballynahinch Road, Saintfield, BT24 7ND, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities and the Companies Act 2006. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost and subsequently measured at cost or valuation, less depreciation and impairment. Historical costs includes expenditure that is directly attributable to bring the asset to the location and condition necessary for use. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
5% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell, after making allowance for obsolete and slow moving items.
Cost comprises direct materials and, where applicable direct labour and those overheads that have been incurred in bringing the stock to their present location and condition. Net realisable value is the price at which stock can be realised in the normal course of business after allowing for the costs of realisation, and where appropriate, the cost of conversion from their existing state to the finished condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversal of impairment losses are also recognised in profit or loss.
Tony Patterson Sportsgrounds Ltd
Notes to the Accounts
for the year ended 31 October 2024
Tax for the year includes current year 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantially enacted by the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 November 2023
2,572,038
201,084
4,299
2,777,421
Additions
171,358
-
-
171,358
At 31 October 2024
2,743,396
201,084
4,299
2,948,779
At 1 November 2023
1,109,736
120,188
3,949
1,233,873
Charge for the year
81,688
20,224
350
102,262
At 31 October 2024
1,191,424
140,412
4,299
1,336,135
At 31 October 2024
1,551,972
60,672
-
1,612,644
At 31 October 2023
1,462,302
80,896
350
1,543,548
Tony Patterson Sportsgrounds Ltd
Notes to the Accounts
for the year ended 31 October 2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
196,637
257,670
Work in progress
2,733,648
2,356,079
Amounts falling due within one year
Trade debtors
1,489,876
128,592
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
201,166
50,000
Obligations under finance leases and hire purchase contracts
49,640
45,797
Trade creditors
1,571,210
568,267
Taxes and social security
42,361
126,342
Other creditors
40,461
40,813
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
73,776
30,616
Allotted, called up and fully paid:
100 Ordinary shares class A of £1 each
100
100
100 Ordinary shares class B of £1 each
100
100
800 Ordinary shares class C of £1 each
800
800
Tony Patterson Sportsgrounds Ltd
Notes to the Accounts
for the year ended 31 October 2024
10
Transactions with related parties
Transactions with related parties during the year were:
Sales: £Nil
The ultimate controlling party is the directors
12
Average number of employees
During the year the average number of employees was 26 (2023: 26).