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COMPANY REGISTRATION NUMBER: NI061338
Colinvale Developments limited
Filleted Unaudited Financial Statements
30 June 2019
Colinvale Developments limited
Statement of Financial Position
30 June 2019
2019
2018
Note
£
£
£
Creditors: amounts falling due after more than one year
4
( 1,799,868)
( 1,799,868)
------------
------------
Net liabilities
( 1,799,868)
( 1,799,868)
------------
------------
Capital and reserves
Called up share capital
232
232
Profit and loss account
( 1,800,100)
( 1,800,100)
------------
------------
Shareholders deficit
( 1,799,868)
( 1,799,868)
------------
------------
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 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 30 June 2019 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 were approved by the board of directors and authorised for issue on 16 January 2024 , and are signed on behalf of the board by:
Mr J McConville
Mr A Shields
Director
Director
Company registration number: NI061338
Colinvale Developments limited
Notes to the Financial Statements
Year ended 30 June 2019
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 194 Seacon Road, Ballymoney, Co Antrim, BT53 6PZ.
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
Going concern
The director's consider that it is not appropriate to use the going concern basis for the preparation of the accounts. Receivers were appointed on 10th June 2016 and have liquidated all the assets of the company and made the appropriate distributions to the charge holders. The receivers have resigned completely as of May 2017. These financial statements were prepared under FRS 102, but on a basis other than the going concern basis. The remaining assets and liabilities have been revalued to their realisable values. No provision has been made for the future costs of winding up the company unless such costs were committed at the reporting date.
Financial instruments
The company applies the Amortised Cost Basis of Accounting in accordance with IAS 39 in measuring Financial Assets and Liabilities. 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, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Creditors: amounts falling due after more than one year
2019
2018
£
£
Other creditors
1,799,868
1,799,868
------------
------------
5. Charges on assets
There are 3 fixed and floating charges registered against the company in favour of AIB Group (UK) Plc. The receivers had sold the assets and distributed the proceeds to the charge holders and had resigned by the end of May 2017. There are no assets remaining in the company.