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No description of principal activity
2021-11-01
Sage Accounts Production Advanced 2021 - FRS102_2021
16,400
16,398
2
2
xbrli:pure
xbrli:shares
iso4217:GBP
NI012395
2021-11-01
2022-10-31
NI012395
2022-10-31
NI012395
2021-10-31
NI012395
bus:Director2
2021-11-01
2022-10-31
NI012395
core:AfterOneYear
2022-10-31
NI012395
core:AfterOneYear
2021-10-31
NI012395
core:ShareCapital
2022-10-31
NI012395
core:ShareCapital
2021-10-31
NI012395
core:RetainedEarningsAccumulatedLosses
2022-10-31
NI012395
core:RetainedEarningsAccumulatedLosses
2021-10-31
NI012395
core:CostValuation
core:Non-currentFinancialInstruments
2022-10-31
NI012395
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2022-10-31
NI012395
core:Non-currentFinancialInstruments
2022-10-31
NI012395
core:Non-currentFinancialInstruments
2021-10-31
NI012395
bus:SmallEntities
2021-11-01
2022-10-31
NI012395
bus:AuditExemptWithAccountantsReport
2021-11-01
2022-10-31
NI012395
bus:FullAccounts
2021-11-01
2022-10-31
NI012395
bus:SmallCompaniesRegimeForAccounts
2021-11-01
2022-10-31
NI012395
bus:PrivateLimitedCompanyLtd
2021-11-01
2022-10-31
NI012395
1
2021-11-01
2022-10-31
COMPANY REGISTRATION NUMBER:
NI012395
Filleted Unaudited Financial Statements |
|
Year ended 31st October 2022
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Statement of Financial Position |
|
31 October 2022
Fixed assets
Current assets
Debtors |
5 |
62,457 |
|
62,457 |
Cash at bank and in hand |
417 |
|
417 |
|
-------- |
|
-------- |
|
62,874 |
|
62,874 |
|
-------- |
|
-------- |
Net current assets |
|
62,874 |
62,874 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
62,876 |
62,876 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
65,125 |
65,125 |
|
|
-------- |
-------- |
Net liabilities |
|
(
2,249) |
(
2,249) |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
666 |
666 |
Profit and loss account |
|
(
2,915) |
(
2,915) |
|
|
------- |
------- |
Shareholders deficit |
|
(
2,249) |
(
2,249) |
|
|
------- |
------- |
|
|
|
|
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 statement of income and retained earnings has not been delivered.
For the year ending 31st October 2022 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
.
Statement of Financial Position (continued) |
|
31 October 2022
These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2023
, and are signed on behalf of the board by:
Company registration number:
NI012395
Notes to the Financial Statements |
|
Year ended 31st October 2022
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 43 Lockview Road, Belfast, BT9 5FJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
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 transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Investments
|
Shares in group undertakings |
|
£ |
|
|
Cost |
|
At 1st November 2021 and 31st October 2022 |
16,400 |
|
-------- |
Amounts written off |
|
At 1st November 2021 and 31st October 2022 |
16,398 |
|
-------- |
|
|
Carrying amount |
|
At 31st October 2022 |
2 |
|
-------- |
At 31st October 2021 |
2 |
|
-------- |
|
|
The Company owns 95% of the issued share capital of Brackhill Limited, a company incorporated in Northern Ireland which operates as a property development company.
At 31st October 2022, the aggregate deficit of the share capital and reserves of Brackhill Limited amounted to (£18,867,293) and the loss for the year was £337,377.
The company owns 100% of the issued share capital of CENI Antrim Company Limited, a company incorporated in Northern Ireland which operates as a property development company.
At 31st October 2022 the aggregate deficit of share capital and reserves of CENI Antrim Company Limited amounted to (£2,237,849) and profit for the period of £nil.
The company owns 100% of the issued share capital of Sarcon (No 383) Limited. This company currently does not trade. At 31 October 2022 the aggregate of Sarcon (No 383) Limited's share capital and reserves amounted to £1 and profit for the period was £nil.
The company owned indirectly 50% of the issued share capital of Hilmar Properties Limited. The company, was dissolved on 7th May 2019.
5.
Debtors
Amounts owed by group undertakings |
62,457 |
62,457 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due after more than one year
Amounts owed to group undertakings |
65,125 |
65,125 |
|
-------- |
-------- |
|
|
|
7.
Related party transactions
The company has availed of the exemptions under terms of FRS 102 Section 1A from disclosing transactions with entities that are part of
CENI Limited
group of companies.
8.
Controlling parties
The company is controlled by the Shields family who together own 100% of the issued share capital.