Doherty Bros Limited

	Page
Abridged Balance Sheet	1—2
Notes to the Abridged Financial Statements	3—6

Registered number: NI618263

		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		99,571		99,659

			99,571		99,659
CURRENT ASSETS
Stocks		119,455		295,000
Debtors		20,749		58,176
Investments		265,000		265,000
Cash at bank and in hand		256,292		83,681

		661,496		701,857
Creditors: Amounts Falling Due Within One Year		(295,557 )		(291,032 )

NET CURRENT ASSETS (LIABILITIES)			365,939		410,825

TOTAL ASSETS LESS CURRENT LIABILITIES			465,510		510,484

Creditors: Amounts Falling Due After More Than One Year			(11,497 )		(25,120 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(24,893 )		(24,708 )

NET ASSETS			429,120		460,656

CAPITAL AND RESERVES
Called up share capital	6		5		5
Profit and Loss Account			429,115		460,651

SHAREHOLDERS' FUNDS			429,120		460,656

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Doherty Bros Limited

Abridged Balance Sheet (continued)

As At 31 May 2024

For the year ending 31 May 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.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 May 2024 in accordance with section 444(2A) of the Companies Act 2006.

On behalf of the board

Mr Neal Joseph Doherty Director	Mr Neal Doherty Director
17/08/2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Doherty Bros Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI618263 . The registered office is 138 Slaght Road, Ballymena, County Antrim, BT42 2LA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	20% reducing balance

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Doherty Bros Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 May 2024

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Doherty Bros Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 May 2024

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2023: 3)

4. Tangible Assets

	Total
	£
Cost
As at 1 June 2023	169,332
Additions	12,730

As at 31 May 2024	182,062

Depreciation
As at 1 June 2023	69,673
Provided during the period	12,818

As at 31 May 2024	82,491

Net Book Value
As at 31 May 2024	99,571

As at 1 June 2023	99,659

5. Obligations Under Finance Leases and Hire Purchase

	2024	2023 as restated
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	4,973	4,490
Later than one year and not later than five years	181	5,238

	5,154	9,728

	5,154	9,728

6. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	5	5

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Doherty Bros Limited

Notes to the Abridged Financial Statements (continued)

For The Year Ended 31 May 2024

7. Related Party Transactions

Elder Drive Limited

D Doherty is a common director

Doherty Bros Limited advanced £265,000 to a solicitor client account on 20 December 2019. This was to purchase 152 acres of land known as McNeilly's and Magill's lands.

Advent Wind Banbridge Limited

N J Doherty is a common director

Doherty Bros Limited received £50,000 from Advent Wind Banbridge Limited on 14 April 2021 for working capital. No repayments have been made. The amount remains outstanding at the year end.

Advent Biogas Limited

N J Doherty is a common director

Doherty Bros Limited received £54,000 from Advent Biogas Limited, made up of £4,000 on 3 November 2021, £20,000 on 28 April 2022 and £30,000 on 30 June 2022. The amount was advanced to purchase a slurry tanker. No repayments have been made. The amount remains outstanding at the year end.

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