REGISTERED NUMBER: NI602269 (Northern Ireland)

TODDS LEAP LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B O'Hanlon

P O'Hanlon

REGISTERED OFFICE:

30 Todds Leap Road

Seskilgreen

DUNGANNON

Co. Tyrone

BT70 2BW

REGISTERED NUMBER:

NI602269 (Northern Ireland)

ACCOUNTANTS:

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Danske Bank

45-48 High Street

Portadown

Craigavon

Armagh

BT62 1LB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 May 2025 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 May 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

Date: .............................................

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

623,239

664,082

623,239

664,082

CURRENT ASSETS

Stocks

26,960

19,788

Debtors

6

30,613

18,843

Cash at bank

2,225

42,524

59,798

81,155

CREDITORS

Amounts falling due within one year

7

377,104

377,359

NET CURRENT LIABILITIES

(317,306

)

(296,204

)

TOTAL ASSETS LESS CURRENT LIABILITIES

305,933

367,878

CREDITORS

Amounts falling due after more than one year

8

(29,318

)

(70,131

)

PROVISIONS FOR LIABILITIES

(53,291

)

(52,331

)

ACCRUALS AND DEFERRED INCOME

(60,526

)

(92,105

)

NET ASSETS

162,798

153,311

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

162,678

153,191

162,798

153,311

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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.

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 1 December 2025 and were signed on its behalf by:

B O'Hanlon - Director

1.	STATUTORY INFORMATION

Todds Leap Limited 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.

The financial statements are prepared in sterling which is the functional currency of the Company.

Significant judgements and estimates

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.

Recoverability of debtors

Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

Useful economic lives of tangible assets

The annual depreciation charge 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 future investments, economic utilisation and the physical conditions of the assets.

Carrying value of stock

Stock represents goods for resale and is measured at the lower of cost and net realisable value. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to make the sale. Provision is made for obsolete and slow moving stock based on historical experience.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its

estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Equipment & Infrastructure - 10% on reducing balance

Motor vehicles - 5 - 10% on reducing balance

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 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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. An losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants

Capital grants received and receivable are treated as deferred income and recognised in the Profit and Loss Account when the specific performance conditions are met. Revenue grants are credited to the Profit and Loss Account when received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2024 - 34 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2024

and 31 May 2025

26,206

AMORTISATION

At 1 June 2024

and 31 May 2025

26,206

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

-

5.	TANGIBLE FIXED ASSETS

Equipment

Motor

& Infrastructure

vehicles

Totals

£

£

£

COST

At 1 June 2024

864,707

86,462

951,169

Additions

10,307

-

10,307

At 31 May 2025

875,014

86,462

961,476

DEPRECIATION

At 1 June 2024

267,012

20,075

287,087

Charge for year

47,741

3,409

51,150

At 31 May 2025

314,753

23,484

338,237

NET BOOK VALUE

At 31 May 2025

560,261

62,978

623,239

At 31 May 2024

597,695

66,387

664,082

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 June 2024

and 31 May 2025

26,000

DEPRECIATION

At 1 June 2024

108

Charge for year

1,295

At 31 May 2025

1,403

NET BOOK VALUE

At 31 May 2025

24,597

At 31 May 2024

25,892

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

30,613

18,843

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

128,822

90,456

Hire purchase contracts

5,210

4,686

Trade creditors

57,087

88,874

Amounts owed to associates

23,248

-

Taxation and social security

44,020

51,157

Other creditors

118,717

142,186

377,104

377,359

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

24,081

59,684

Hire purchase contracts

5,237

10,447

29,318

70,131

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

109,165

70,799

Bank loans

43,738

79,341

152,903

150,140

Bank loans and overdrafts are secured by a floating charge over the assets of the company.

10.	CONTINGENT LIABILITIES

During the year ended 31 May 2022 the company received government grants. The receipt of the grant is subject to conditions which if are not met may result in the grants being repayable by the company. The company expects to meet the conditions of the grant.

11.	RELATED PARTY DISCLOSURES

Todds Leap Limited and Todds Leap Pallet Racking & Shelving Limited are related companies by virtue of a mutual shareholder and director.

At 28 February 2025, Todds Leap Limited owed £23,248 to the related party.