REGISTERED NUMBER: NI622699 (Northern Ireland)

TODDS LEAP PALLET RACKING &

SHELVING LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B O'Hanlon

N O'Hanlon

REGISTERED OFFICE:

30 Todds Leap Road

Ballygawley

Co. Tyrone

BT70 2BW

REGISTERED NUMBER:

NI622699 (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 Directors' Report 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 28 February 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 28 February 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

Tangible assets

4

598,045

635,825

CURRENT ASSETS

Stocks

504,400

599,234

Debtors

5

284,315

251,254

Cash at bank

80,466

5,522

869,181

856,010

CREDITORS

Amounts falling due within one year

6

693,786

700,198

NET CURRENT ASSETS

175,395

155,812

TOTAL ASSETS LESS CURRENT LIABILITIES

773,440

791,637

CREDITORS

Amounts falling due after more than one year

7

(147,598

)

(177,077

)

PROVISIONS FOR LIABILITIES

(75,081

)

(85,922

)

NET ASSETS

550,761

528,638

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

550,561

528,438

SHAREHOLDERS' FUNDS

550,761

528,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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

N O'Hanlon - Director

1.	STATUTORY INFORMATION

Todds Leap Pallet Racking & Shelving 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

Revenue is measured at the fair value of the consideration receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes. The company recognises revenue when the significant risks and rewards of ownership have been transferred to the buyer. Sales of goods are recognised on the transfer to the customer. Revenue relating to the provision of installation and commissioning services is recognised in the accounting period in which the services are rendered when the outcome of contract can be estimated reliably. The company uses the percentage of completion method based on the actual service performed as a percentage of the total services to be provided.

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

Land & buildings - 2% straight line

Plant and machinery - 10% on reducing balance

Motor vehicles - 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2024 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Land &

Plant and

Motor

buildings

machinery

vehicles

Totals

£

£

£

£

COST

At 1 March 2024

396,644

202,762

274,261

873,667

Additions

-

9,438

-

9,438

Disposals

-

(17,125

)

(16,834

)

(33,959

)

At 28 February 2025

396,644

195,075

257,427

849,146

DEPRECIATION

At 1 March 2024

13,183

51,763

172,896

237,842

Charge for year

1,191

15,573

10,662

27,426

Eliminated on disposal

-

(3,769

)

(10,398

)

(14,167

)

At 28 February 2025

14,374

63,567

173,160

251,101

NET BOOK VALUE

At 28 February 2025

382,270

131,508

84,267

598,045

At 29 February 2024

383,461

150,999

101,365

635,825

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 March 2024

and 28 February 2025

28,500

34,300

62,800

DEPRECIATION

At 1 March 2024

7,724

10,514

18,238

Charge for year

2,078

5,093

7,171

At 28 February 2025

9,802

15,607

25,409

NET BOOK VALUE

At 28 February 2025

18,698

18,693

37,391

At 29 February 2024

20,776

23,786

44,562

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

174,893

141,154

Amounts owed by associates

23,248

-

Other debtors

86,174

110,100

284,315

251,254

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

220,228

210,516

Hire purchase contracts

7,263

7,263

Trade creditors

343,575

358,287

Taxation and social security

71,029

41,765

Other creditors

51,691

82,367

693,786

700,198

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

145,177

167,393

Hire purchase contracts

2,421

9,684

147,598

177,077

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdrafts

197,588

187,876

Bank loans

167,817

190,033

365,405

377,909

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

9.	RELATED PARTY DISCLOSURES

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

At 28 February 2025, Todds Leap Pallet Racking & Shelving Limited was owed £23,248 from the related party.