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REGISTERED NUMBER: NI038056 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 7 MARCH 2023

FOR

CLANABOGAN PROPERTIES LIMITED

CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 7 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

CLANABOGAN PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 7 MARCH 2023







DIRECTORS: Mr Alan Leeper
Mrs Marian Leeper



SECRETARY: Mr Alan Leeper



REGISTERED OFFICE: 2 Botera Upper Road
Clanabogan
Omagh
Co. Tyrone
BT78 5DG



REGISTERED NUMBER: NI038056 (Northern Ireland)



ACCOUNTANTS: Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT



BANKERS: Ulster Bank Limited
14 High Street
Omagh
Co. Tyrone
BT78 1BJ

CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

BALANCE SHEET
7 MARCH 2023

7.3.23 7.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,884 2,217
Investment property 5 150,000 150,000
151,884 152,217

CURRENT ASSETS
Debtors 6 6,344 1,638
Cash at bank 7,276 9,869
13,620 11,507
CREDITORS
Amounts falling due within one year 7 95,917 104,522
NET CURRENT LIABILITIES (82,297 ) (93,015 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

69,587

59,202

PROVISIONS FOR LIABILITIES 471 421
NET ASSETS 69,116 58,781

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 69,113 58,778
SHAREHOLDERS' FUNDS 69,116 58,781

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 7 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 7 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

BALANCE SHEET - continued
7 MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 December 2023 and were signed on its behalf by:





Mr Alan Leeper - Director


CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 7 MARCH 2023


1. STATUTORY INFORMATION

Clanabogan Properties Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its estimated useful life as follows:-

Fixtures, fittings and equipment - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 7 MARCH 2023


2. ACCOUNTING POLICIES - continued

Investment properties
In accordance with Statement Accounting Practice No. 19, certain of the company's properties are held for long-term investment and are included in the balance sheet at their open market values. The surpluses or deficits on annual revaluation of such properties are transferred to the investment revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years.

This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view, because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 8 March 2022
and 7 March 2023 3,789
DEPRECIATION
At 8 March 2022 1,572
Charge for year 333
At 7 March 2023 1,905
NET BOOK VALUE
At 7 March 2023 1,884
At 7 March 2022 2,217

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 8 March 2022
and 7 March 2023 150,000
NET BOOK VALUE
At 7 March 2023 150,000
At 7 March 2022 150,000

The above property is secured by way of an all monies charge in favour of the bank.

CLANABOGAN PROPERTIES LIMITED (REGISTERED NUMBER: NI038056)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 7 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7.3.23 7.3.22
£    £   
Trade debtors 6,344 832
Prepayments and accrued income - 806
6,344 1,638

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
7.3.23 7.3.22
£    £   
Trade creditors 580 -
Tax 3,315 5,988
VAT 5,563 1,820
Directors' loan accounts 83,534 95,026
Accruals and deferred income 2,925 1,688
95,917 104,522

CLANABOGAN PROPERTIES LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
CLANABOGAN PROPERTIES LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 7 March 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT


18 December 2023