Bright AccountsProduction v1.0.0 v1.0.0 2022-03-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activty is that of a holding company. 27 November 2023 0 0 NI676799 2023-02-28 NI676799 2022-02-28 NI676799 2021-02-28 NI676799 2022-03-01 2023-02-28 NI676799 2021-03-01 2022-02-28 NI676799 uk-bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 NI676799 uk-curr:PoundSterling 2022-03-01 2023-02-28 NI676799 uk-bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 NI676799 uk-bus:FullAccounts 2022-03-01 2023-02-28 NI676799 uk-core:ShareCapital 2023-02-28 NI676799 uk-core:ShareCapital 2022-02-28 NI676799 uk-core:RetainedEarningsAccumulatedLosses 2023-02-28 NI676799 uk-core:RetainedEarningsAccumulatedLosses 2022-02-28 NI676799 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-02-28 NI676799 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-02-28 NI676799 uk-bus:FRS102 2022-03-01 2023-02-28 NI676799 uk-core:CurrentFinancialInstruments 2023-02-28 NI676799 uk-core:CurrentFinancialInstruments 2022-02-28 NI676799 uk-core:WithinOneYear 2023-02-28 NI676799 uk-core:WithinOneYear 2022-02-28 NI676799 uk-core:WithinOneYear 2023-02-28 NI676799 uk-core:WithinOneYear 2022-02-28 NI676799 uk-core:AfterOneYear 2023-02-28 NI676799 uk-core:AfterOneYear 2022-02-28 NI676799 uk-core:AfterOneYear 2023-02-28 NI676799 uk-core:AfterOneYear 2022-02-28 NI676799 uk-core:BetweenOneTwoYears 2023-02-28 NI676799 uk-core:BetweenOneTwoYears 2022-02-28 NI676799 uk-core:BetweenTwoFiveYears 2023-02-28 NI676799 uk-core:BetweenTwoFiveYears 2022-02-28 NI676799 uk-core:MoreThanFiveYears 2023-02-28 NI676799 uk-core:MoreThanFiveYears 2022-02-28 NI676799 uk-core:EmployeeBenefits 2022-02-28 NI676799 uk-core:EmployeeBenefits 2022-03-01 2023-02-28 NI676799 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-02-28 NI676799 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-02-28 NI676799 uk-core:OtherDeferredTax 2023-02-28 NI676799 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-02-28 NI676799 uk-core:EmployeeBenefits 2023-02-28 NI676799 2022-03-01 2023-02-28 NI676799 uk-bus:Director1 2022-03-01 2023-02-28 NI676799 uk-bus:Director2 2022-03-01 2023-02-28 NI676799 uk-bus:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI676799
 
 
Derryfubble Investments Ltd
 
Unaudited Financial Statements
 
for the financial year ended 28 February 2023
Derryfubble Investments Ltd
Company Registration Number: NI676799
BALANCE SHEET
as at 28 February 2023

2023 2022
Notes £ £
 
Fixed Assets
Investment properties 4 450,717 429,642
───────── ─────────
 
Current Assets
Stocks 5 5,400 5,400
Debtors 6 126,800 1,800
Cash and cash equivalents 47,267 135,720
───────── ─────────
179,467 142,920
───────── ─────────
Creditors: amounts falling due within one year 7 (12,376) (20,764)
───────── ─────────
Net Current Assets 167,091 122,156
───────── ─────────
Total Assets less Current Liabilities 617,808 551,798
 
Creditors:
amounts falling due after more than one year 8 (605,644) (553,736)
 
Provisions for liabilities 9 (2,310) 370
───────── ─────────
Net Assets/(Liabilities) 9,854 (1,568)
═════════ ═════════
 
Capital and Reserves
Called up share capital 10 10
Retained earnings 9,844 (1,578)
───────── ─────────
Shareholders' Funds/(Deficit) 9,854 (1,568)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 27 November 2023 and signed on its behalf by
           
           
________________________________     ________________________________
Aiden Donnelly     Oliver Donnelly
Director     Director
           



Derryfubble Investments Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 28 February 2023

   
1. General Information
 
Derryfubble Investments Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI676799. The registered office of the company is 237 Derryfubble Road, Dungannon, Co Tyrone, BT71 7JS, Northern Ireland which is also the principal place of business of the company. The principal activty is that of a holding company. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 28 February 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The comparative figures relate to the 12 month period ended 28 February 2022.
     
4. Investment Properties
  Investment
  properties
 
  £
Valuation
At 1 March 2022 429,642
Additions 75
Revaluation 21,000
  ─────────
At 28 February 2023 450,717
  ─────────
Net book value
At 28 February 2023 450,717
  ═════════
At 28 February 2022 429,642
  ═════════
       
5. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 5,400 5,400
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Amounts owed by related parties 120,000 -
Other debtors 6,800 1,800
  ───────── ─────────
  126,800 1,800
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 8,716 19,264
Trade creditors 2,160 -
Accruals 1,500 1,500
  ───────── ─────────
  12,376 20,764
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 182,568 180,736
Amounts owed to group undertakings 50,000 -
Amounts owed to related parties (Note 11) 100,000 100,000
Directors' loan accounts 273,076 273,000
  ───────── ─────────
  605,644 553,736
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 8,716 19,264
Repayable between one and two years 17,433 38,529
Repayable between two and five years 26,149 57,792
Repayable in five years or more 138,986 84,415
  ───────── ─────────
  191,284 200,000
  ═════════ ═════════
 
           
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Losses Property Revaluation Total Total
         
         
      2023 2022
  £ £ £ £
 
At financial year start (370) - (370) -
Charged to profit and loss (1,310) 3,990 2,680 (370)
  ───────── ───────── ───────── ─────────
At financial year end (1,680) 3,990 2,310 (370)
  ═════════ ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 28 February 2023.
       
11. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
During the year, Derryfubble Investments Ltd loaned £120,000 to a company owned by one of the directors. At the year end £120,000 remains owed to Derryfubble Investments Ltd. This has been included in the debtors section of the balance sheet.

At the start of the year, £100,000 is owed to a company owned by one of the directors. There has been no transactions with this company during the year and £100,000 remains owed at the year end. This has been included in the creditors section of the balance sheet.

At the start of the year, the directors are owed £273,000 from the company. During the year the company borrowed a further £76 from the directors leaving a closing balance owing to the directors at the year end of £273,076. This is included in the creditors section of the balance sheet.
   
12. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.