BrightAccountsProduction v1.0.0 v1.0.0 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activities of the company are property development and investment. 13 March 2024 2 2 NI057983 2023-07-31 NI057983 2022-07-31 NI057983 2021-07-31 NI057983 2022-08-01 2023-07-31 NI057983 2021-08-01 2022-07-31 NI057983 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI057983 uk-curr:PoundSterling 2022-08-01 2023-07-31 NI057983 uk-bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 NI057983 uk-bus:FullAccounts 2022-08-01 2023-07-31 NI057983 uk-bus:Director1 2022-08-01 2023-07-31 NI057983 uk-bus:CompanySecretaryDirector1 2022-08-01 2023-07-31 NI057983 uk-bus:CompanySecretary1 2022-08-01 2023-07-31 NI057983 uk-bus:RegisteredOffice 2022-08-01 2023-07-31 NI057983 uk-bus:Agent1 2022-08-01 2023-07-31 NI057983 uk-core:ShareCapital 2023-07-31 NI057983 uk-core:ShareCapital 2022-07-31 NI057983 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI057983 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI057983 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI057983 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI057983 uk-bus:FRS102 2022-08-01 2023-07-31 NI057983 uk-core:WithinOneYear 2023-07-31 NI057983 uk-core:WithinOneYear 2022-07-31 NI057983 uk-core:WithinOneYear 2023-07-31 NI057983 uk-core:WithinOneYear 2022-07-31 NI057983 2022-08-01 2023-07-31 NI057983 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI057983
 
 
Fintry Properties Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 July 2023
Fintry Properties Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Angus Wilson
Alastair Stevenson
 
 
Company Secretary Alastair Stevenson
 
 
Company Registration Number NI057983
 
 
Registered Office and Business Address 25 Carn Road
Craigavon
Co. Armagh
BT63 5WG
United Kingdom
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers First Trust Bank
  18-20 Scotch Street
  Dungannon
  Co Tyrone
  BT70 1AZ
  United Kingdom
 
   
Solicitors Walker McDonald
  2-6 Edward Strteet
  Portadown
  Co. Armagh
  BT62 3LX
  United Kingdom



Fintry Properties Limited
Company Registration Number: NI057983
BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 55,000 145,000
───────── ─────────
 
Current Assets
Stocks 6 117,009 113,046
Debtors 7 1,035 -
Cash and cash equivalents - 6,411
───────── ─────────
118,044 119,457
───────── ─────────
Creditors: amounts falling due within one year 8 (364,216) (458,293)
───────── ─────────
Net Current Liabilities (246,172) (338,836)
───────── ─────────
Total Assets less Current Liabilities (191,172) (193,836)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (191,272) (193,936)
───────── ─────────
Equity attributable to owners of the company (191,172) (193,836)
═════════ ═════════
 
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 31 July 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 13 March 2024 and signed on its behalf by
           
           
________________________________          
Angus Wilson          
Director          
           
           
________________________________
Alastair Stevenson
Director
           



Fintry Properties Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
Fintry Properties Limited is a company limited by shares incorporated in the Northern Ireland
         
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 year ended 31 July 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 represents rents receivable from the occupation of properties by tenants.
Turnover is recognised when rent is due and/or paid.
 
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
Stock is valued at the lower of cost and net realisable value.
 
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
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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
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.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The financial statements have been prepared on the going concern basis.  The ability of the company to continue as a going concern is dependent on the continued support of the company bankers.

The directors consider that in preparing the financial statements, they have taken into account all the information that could reasonably be expected to be available.  On this basis, they consider that it is appropriate to prepare financial statements on the going concern basis.

The financial statements do not include any adjustments that would result if the company did not receive continued support from it's bankers.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2022 - 2).
 
  2023 2022
  Number Number
 
Directors 2 2
  ═════════ ═════════
       
5. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost
At 1 August 2022 145,000 145,000
Disposals (90,000) (90,000)
  ───────── ─────────
At 31 July 2023 55,000 55,000
  ───────── ─────────
Depreciation
At 1 August 2022 - -
  ───────── ─────────
At 31 July 2023 - -
  ───────── ─────────
Net book value
At 31 July 2023 55,000 55,000
  ═════════ ═════════
At 31 July 2022 145,000 145,000
  ═════════ ═════════
       
6. Stocks 2023 2022
  £ £
 
Mahon Road 117,009 113,046
  ═════════ ═════════
 
Stock represents the landbank at Mahon Road.
       
7. Debtors 2023 2022
  £ £
 
Taxation  (Note 9) 1,035 -
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank overdrafts 493 -
Amounts owed to connected parties (Note 10) 87,662 178,525
Taxation  (Note 9) - 4,271
Directors' current accounts 274,711 274,711
Accruals 1,350 786
  ───────── ─────────
  364,216 458,293
  ═════════ ═════════
 
First Trust hold the following charges and guarantees over Fintry Properties Limited:-
- legal mortgage over 107 Mahon Road Portadown
- joint and several guarantee for £150,000 signed by Mr A. Wilson and Mr A. Stevenson supported by legal mortgages over 69 Armagh Road, Portadown, and 21 Mourneview Street, Portadown.
       
9. Taxation 2023 2022
  £ £
 
Debtors:
Corporation tax 1,035 -
  ═════════ ═════════
Creditors:
Corporation tax - 4,271
  ═════════ ═════════
           
10. Related party transactions
 
The following amounts are due to other connected parties:
      2023 2022
      £ £
 
Wilson's Country Limited     87,662 178,525
      ═════════ ═════════
 
Mr A. Wilson, a director of Fintry Properties Limited is also a director of Wilson's Country Limited.
       
11. Reclassification of Assets
 
Development land at Mahon Road was reclassified in the year ended 31 July 2019 from investment properties to land bank stock, totalling £100,000.