1 December 2020 v2022.13.1 limited_company_frs_102_section_1a_v1_0_8 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00truexbrli:purexbrli:sharesiso4217:GBPNI0420012020-12-012021-11-30NI0420012021-11-30NI0420012020-11-30NI042001core:WithinOneYear2021-11-30NI042001core:WithinOneYear2020-11-30NI042001core:RetainedEarningsAccumulatedLosses2021-11-30NI042001core:RetainedEarningsAccumulatedLosses2020-11-30NI042001bus:Director12020-12-012021-11-30NI042001bus:RegisteredOffice2020-12-012021-11-30NI042001core:LandBuildings2020-12-012021-11-30NI042001core:FurnitureFittings2020-12-012021-11-30NI042001core:LandBuildings2020-12-01NI042001core:PlantMachinery2020-12-01NI0420012020-12-01NI042001core:LandBuildings2021-11-30NI042001core:PlantMachinery2021-11-30NI042001core:PlantMachinery2020-12-012021-11-30NI042001core:LandBuildings2020-11-30NI042001core:PlantMachinery2020-11-30NI04200112020-12-012021-11-30NI0420012019-12-012020-11-30NI042001countries:NorthernIreland2020-12-012021-11-30NI042001bus:AuditExemptWithAccountantsReport2020-12-012021-11-30NI042001bus:CompanyLimitedByGuarantee2020-12-012021-11-30NI042001bus:SmallEntities2020-12-012021-11-30NI042001bus:FullAccounts2020-12-012021-11-30
Company registration number:
NI042001
Strathfoyle Village Centre Limited
Company limited by guarantee
Unaudited Filleted Financial Statements for the year ended
30 November 2021
Strathfoyle Village Centre Limited
Statement of Financial Position
30 November 2021
20212020
Note££
Fixed assets    
Tangible assets 6
568,048
 
579,701
 
Current assets    
Cash at bank and in hand
114,308
 
116,807
 
Creditors: amounts falling due within one year 7
(25,216
)
(23,879
)
Net current assets
89,092
 
92,928
 
Total assets less current liabilities 657,140   672,629  
Capital and reserves    
Profit and loss account
657,140
 
672,629
 
Members funds
657,140
 
672,629
 
For the year ending
30 November 2021
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge 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.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
5 August 2022
, and are signed on behalf of the board by:
H Hastings
Director
Company registration number:
NI042001
Strathfoyle Village Centre Limited
Notes to the Financial Statements
Year ended
30 November 2021

1 General information

The company is a private company limited by guarantee and is registered in Northern Ireland. The address of the registered office is
DIVER DONAGHY & COMPANY LTD, Gortfoyle Business Centre 104 - 108 Spencer Road
,
Waterside
,
Derry
,
Derry
,
BT47 6AG
, .

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Reducing Balance over 50 years
Fixtures and fittings
10% on a Reducing Balance

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Limited by guarantee

The Company is limited by guarantee.

5 Average number of employees

The average number of persons employed by the company during the year was Nil (2020: Nil).

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 December 2020
787,519
 
12,092
 
799,611
 
Additions
995
  -  
995
 
At
30 November 2021
788,514
 
12,092
 
800,606
 
Depreciation      
At
1 December 2020
215,592
 
4,318
 
219,910
 
Charge
11,439
 
1,209
 
12,648
 
At
30 November 2021
227,031
 
5,527
 
232,558
 
Carrying amount      
At
30 November 2021
561,483
 
6,565
 
568,048
 
At 30 November 2020
571,927
 
7,774
 
579,701
 

7 Creditors: amounts falling due within one year

20212020
££
Taxation and social security
3,496
 
2,159
 
Other creditors
21,720
 
21,720
 
25,216
 
23,879