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Company Registration No. NI045042 (Northern Ireland)
Deering Agri-Supplies Limited Companies House accounts for the year ended 31 March 2025
Deering Agri-Supplies Limited Companies House accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
Deering Agri-Supplies Limited Company Information for the year ended 31 March 2025
Directors
Robert A Nelson Martin F McCaffrey
Secretary
Robert A Nelson
Company Number
NI045042 (Northern Ireland)
Registered Office
Cortrasna Roslea Enniskillen Co Fermanagh BT92 7FU N Ireland
Accountants
G J Gartland Chartered Accountants Unit 22 Erne House Killyhevlin Business Centre Enniskillen Co Fermanagh BT74 4EB
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Deering Agri-Supplies Limited Statement of financial position as at 31 March 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
164,102
141,065
Current assets
Inventories
200,811
222,760
Debtors
5
1,201,852
1,279,093
Cash at bank and in hand
361,702
218,910
1,764,365
1,720,763
Creditors: amounts falling due within one year
6
(1,131,951)
(1,054,094)
Net current assets
632,414
666,669
Total assets less current liabilities
796,516
807,734
Provisions for liabilities
Deferred tax
7
(4,271)
(6,302)
Net assets
792,245
801,432
Capital and reserves
Called up share capital
8
200
200
Profit and loss account
792,045
801,232
Shareholders' funds
792,245
801,432
For the year ending 31 March 2025 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 6 March 2026 and were signed on its behalf by
Martin F McCaffrey Director Company Registration No. NI045042
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Deering Agri-Supplies Limited Notes to the Accounts for the year ended 31 March 2025
1
Statutory information
Deering Agri-Supplies Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI045042. The registered office is Cortrasna, Roslea, Enniskillen, Co Fermanagh, BT92 7FU, N Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ Sterling.
Turnover and income recognition
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Income is recognised when goods and services have been provided to customers such that risks and rewards of ownership have been transferred to them.
Tangible fixed assets policy
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates on the reducing balance basis.
Plant & machinery
10%
Motor vehicles
20%
Stocks
Stocks and work-in-progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Deferred taxation
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 is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
Foreign currencies
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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Deering Agri-Supplies Limited Notes to the Accounts for the year ended 31 March 2025
Leased assets
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.
Pension costs
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 April 2024
107,000
37,684
91,791
236,475
Additions
-
7,225
35,000
42,225
Disposals
-
-
(16,400)
(16,400)
At 31 March 2025
107,000
44,909
110,391
262,300
Depreciation
At 1 April 2024
-
27,739
67,671
95,410
Charge for the year
-
1,717
10,412
12,129
On disposals
-
-
(9,341)
(9,341)
At 31 March 2025
-
29,456
68,742
98,198
Net book value
At 31 March 2025
107,000
15,453
41,649
164,102
At 31 March 2024
107,000
9,945
24,120
141,065
5
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
1,193,940
1,279,093
Other debtors
7,912
-
1,201,852
1,279,093
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
13,071
23,235
Trade creditors
1,090,150
991,799
Taxes and social security
8,314
18,253
Other creditors
6,034
6,425
Loans from directors
14,382
14,382
1,131,951
1,054,094
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Deering Agri-Supplies Limited Notes to the Accounts for the year ended 31 March 2025
7
Deferred taxation
2025
2024
£
£
Accelerated capital allowances
4,271
6,302
2025
2024
£
£
Provision at start of year
6,302
7,621
Credited to the profit and loss account
(2,031)
(1,319)
Provision at end of year
4,271
6,302
8
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
9
Transactions with related parties
During the year the company sold goods and services to the value of £157,592 to directors of the company. All sales were at arm's length on normal trading terms. Dividends paid to directors during the year - £12,000 (2024: £16,000).
10
Controlling party
During the year (and the previous year) the company was controlled by two Directors who held 100% of the share capital.
11
Average number of employees
During the year the average number of employees was 3 (2024: 3).
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