Youngs Broughshane Limited NI006685 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true false NI006685 2022-07-01 2023-06-30 NI006685 2023-06-30 NI006685 bus:OrdinaryShareClass1 2023-06-30 NI006685 core:CurrentFinancialInstruments 2023-06-30 NI006685 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 NI006685 bus:SmallEntities 2022-07-01 2023-06-30 NI006685 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 NI006685 bus:FullAccounts 2022-07-01 2023-06-30 NI006685 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 NI006685 bus:RegisteredOffice 2022-07-01 2023-06-30 NI006685 bus:Director1 2022-07-01 2023-06-30 NI006685 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 NI006685 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 NI006685 countries:NorthernIreland 2022-07-01 2023-06-30 NI006685 2022-06-30 NI006685 core:CostValuation 2022-06-30 NI006685 core:ProvisionsForImpairmentInvestments 2022-06-30 NI006685 2021-07-01 2022-06-30 NI006685 2022-06-30 NI006685 bus:OrdinaryShareClass1 2022-06-30 NI006685 core:CurrentFinancialInstruments 2022-06-30 NI006685 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI006685

Youngs Broughshane Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

 

Youngs Broughshane Limited

(Registration number: NI006685)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

285,895

282,750

Current assets

 

Debtors

6

58,599

43,472

Cash at bank and in hand

 

2,672

14,794

 

61,271

58,266

Creditors: Amounts falling due within one year

7

(1,810)

(1,810)

Net current assets

 

59,461

56,456

Net assets

 

345,356

339,206

Capital and reserves

 

Called up share capital

8

63,950

63,950

Revaluation reserve

68,323

68,323

Other reserves

25,939

25,939

Retained earnings

187,144

180,994

Shareholders' funds

 

345,356

339,206

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Youngs Broughshane Limited

(Registration number: NI006685)
Balance Sheet as at 30 June 2023

Approved and authorised by the director on 12 January 2024
 

.........................................
Mrs Carol Denise Young
Director

 

Youngs Broughshane Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 51 Main Street, Broughshane, Ballymena, BT42 4JP.

These financial statements were authorised for issue by the director on 12 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Group accounts not prepared

The company is part of a small group. The company can take advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts..

Revenue recognition

Rental income is recognised on a straight-line basis over the lease term. The aggregate cost of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.

Investment property

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

 

Youngs Broughshane Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Investment properties

2023
£

At 1 July 2022

282,750

Additions

3,145

At 30 June 2023

285,895

 

Youngs Broughshane Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Investments

Subsidiaries

£

Cost or valuation

At 1 July 2022

50,000

Provision

At 1 July 2022

50,000

Carrying amount

At 30 June 2023

-

The company purchased the entire share capital of Walter Young Limited on 1st August 2013. Walter Young Limited is a company incorporated in Northern Ireland with a year end coterminous with that of its parent. Its principal activity is that of dealing in and servicing motor vehicles.

6

Debtors

2023
£

2022
£

Other debtors

58,599

43,472

 

58,599

43,472

7

Creditors

2023
£

2022
£

Other creditors

1,810

1,810

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

63,950

63,950

63,950

63,950