James O'Hara & Sons Limited 31/08/2025 iXBRL

Company registration number: NI028457

James O'Hara & Sons Limited

Unaudited filleted financial statements

31 August 2025

James O'Hara & Sons Limited

Contents

Directors and other information

Balance sheet

Statement of changes in equity

Notes to the financial statements

James O'Hara & Sons Limited

Directors and other information


	Director	Mr Gerard O'Hara


	Company number	NI028457


	Registered office	319 Clooney Road
		Carrichue
		Limavady
		Co Derry


	Accountants	Fergus McAteer & Co
		31/33 Clarendon Street
		Derry
		BT48 7ER




	Bankers	First Trust Bank
		Meadowbank
		Strand Road
		Derry


	Solicitors	R.G. Connell & Sons
		13 Main Street
		Limavady
		Co Derry

James O'Hara & Sons Limited

Balance sheet

31 August 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Tangible assets	5	345,598		363,889
		_______		_______
			345,598		363,889

Current assets
Stocks	6	1,552,756		1,340,153
Debtors	7	123,873		135,527
Cash at bank and in hand		3,103		3,825
		_______		_______
		1,679,732		1,479,505
Creditors: amounts falling due
within one year	8	( 988,724)		( 828,324)
		_______		_______
Net current assets			691,008		651,181
			_______		_______
Total assets less current liabilities			1,036,606		1,015,070

Creditors: amounts falling due
after more than one year	9		( 20,649)		( 45,213)

Provisions for liabilities			( 3,709)		( 4,828)

			_______		_______
Net assets			1,012,248		965,029
			_______		_______

Capital and reserves
Called up share capital	10		100		100
Profit and loss account			1,012,148		964,929
			_______		_______
Shareholders funds			1,012,248		965,029
			_______		_______

For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 22 May 2026 , and are signed on behalf of the board by:

Mr Gerard O'Hara

Director

Company registration number: NI028457

James O'Hara & Sons Limited

Statement of changes in equity

Year ended 31 August 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 September 2023	100	961,938	962,038

Profit for the year		2,991	2,991
	_______	_______	_______
Total comprehensive income for the year	-	2,991	2,991

	_______	_______	_______
At 31 August 2024 and 1 September 2024	100	964,928	965,028

Profit for the year		47,220	47,220
	_______	_______	_______
Total comprehensive income for the year	-	47,220	47,220

	_______	_______	_______
At 31 August 2025	100	1,012,148	1,012,248
	_______	_______	_______

James O'Hara & Sons Limited

Notes to the financial statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 319 Clooney Road, Carrichue, Limavady, Co Derry.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Freehold property	-	2 %	straight line
Plant and machinery	-	20 %	straight line
Fixtures and fittings	-	33 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Hire purchase and finance leases

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Tangible assets

		Total
		£
	Cost
	At 1 September 2024 and 31 August 2025	684,556
		_______
	Depreciation
	At 1 September 2024	320,666
	Charge for the year	18,292
		_______
	At 31 August 2025	338,958
		_______
	Carrying amount
	At 31 August 2025	345,598
		_______
	At 31 August 2024	363,890
		_______

The showroom is situated at Carrichue, Limavady and is shown on the balance sheet at historical cost. However, the net realisable value of the showroom would be affected by the fact that the ground on which it is constructed, is owned by Mr Gerard O'Hara (shareholder and director).

6. Stocks

	2025	2024
	£	£
Stock	1,552,756	1,340,153
	_______	_______

7. Debtors

	2025	2024
	£	£
Trade debtors	113,524	122,945
Other debtors	10,349	12,582
	_______	_______
	123,873	135,527
	_______	_______

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	159,246	189,231
Trade creditors	328,181	433,763
Corporation tax	1,373	-
Social security and other taxes	23,322	15,557
Other creditors	476,602	189,773
	_______	_______
	988,724	828,324
	_______	_______

Bank overdraft and loans are secured by a mortgage debenture incorporating a fixed and floating charge over all company assets present and future, a letter of guarantee and a letter of subordination to First Trust Bank.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	-	9,403
Other creditors	20,649	35,810
	_______	_______
	20,649	45,213
	_______	_______

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares shares of £ 1.00 each	100	100	100	100
	_______	_______	_______	_______