Dunsany Developments Ltd
Filleted Accounts
30 June 2022
Registered number
NI055651
Dunsany Developments Ltd
Registered number: NI055651
Balance Sheet
as at 30 June 2022
Notes 2022 2021
£ £
Current assets
Cash at bank and in hand 561 561
Net current assets 561 561
Total assets less current liabilities 561 561
Creditors: amounts falling due after more than one year 3 (3,515,390) (3,515,390)
Net liabilities (3,514,829) (3,514,829)
Capital and reserves
Called up share capital 99 99
Profit and loss account (3,514,928) (3,514,928)
Shareholders' funds (3,514,829) (3,514,829)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Jebb
Director
Approved by the board on 1 June 2023
Dunsany Developments Ltd
Notes to the Accounts
for the year ended 30 June 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The company does not have any significant assets. Included in creditors due after more than one year is a balance owing to prior lenders which the director is negotiating to have adjusted. Also included within creditors due after more than one year are balances owing to current and former directors which will only be repaid should the company is in a position to do so in future.

In light of these circumstances, the director is content that the financial statements be prepared on a going concern basis.
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stock is valued at the lower of cost and estimated net realisable value.

Cost includes all direct expenditure in connection with the purchase of development land including stamp duty and professional fees. Net realisable value is the estimated price at which the stock can be released in the normal course of business, less further costs to completion of sale.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 1 1
3 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 3,076,650 3,076,650
Other creditors 438,740 438,740
3,515,390 3,515,390
4 Other information
Dunsany Developments Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
101 Enterprise House
Enterprise Crescent
Ballinderry Road
Lisburn
BT28 2BP
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