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COMPANY REGISTRATION NUMBER: NI073816
Fergal Holding Company Limited
Filleted Unaudited Financial Statements
31 October 2023
Fergal Holding Company Limited
Financial Statements
Year ended 31st October 2023
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 5
Fergal Holding Company Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Fixed assets
Investments
4
1,517,039
1,517,039
Current assets
Debtors
5
1
1
----
----
Net current assets
1
1
------------
------------
Total assets less current liabilities
1,517,040
1,517,040
------------
------------
Capital and reserves
Called up share capital
6
6,006
6,006
Profit and loss account
1,511,034
1,511,034
------------
------------
Shareholders funds
1,517,040
1,517,040
------------
------------
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 Section 1A of 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 31st October 2023 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 26 July 2024 , and are signed on behalf of the board by:
C McAteer
Director
Company registration number: NI073816
Fergal Holding Company Limited
Notes to the Financial Statements
Year ended 31st October 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 43 Lockview Road, Belfast, BT9 5FJ.
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
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income tax
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, or a right to pay less or to receive more tax, with the following exceptions: Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
4. Investments
Investments in group undertakings
£
Cost
At 1st November 2022 and 31st October 2023
1,517,039
------------
Impairment
At 1st November 2022 and 31st October 2023
------------
Carrying amount
At 31st October 2023
1,517,039
------------
At 31st October 2022
1,517,039
------------
Details of the investments in which the group and the company holds 20% or more of the share capital are listed in Notes 8 and 9 to the financial statements.
5. Debtors
2023
2022
£
£
Other debtors
1
1
----
----
6. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary 'A' shares of £ 1 each
2,000
2,000
2,000
2,000
Ordinary 'B' shares of £ 1 each
2,000
2,000
2,000
2,000
Ordinary 'C' shares of £ 1 each
2,000
2,000
2,000
2,000
Ordinary 'D' shares of £ 1 each
6
6
6
6
-------
-------
-------
-------
6,006
6,006
6,006
6,006
-------
-------
-------
-------
7. Related party transactions
The company is controlled by C McAteer who owns 100% of the issued share capital. The company has taken advantage of the exemption under the terms of FRS 102 from disclosing related party transactions with entities that are part of The Fergal Holding Company Limited group.
8. Fixed asset investments - investment in subsidiaries
Group investments
The company holds directly or indirectly 20% or more of the share capital of the following companies:-
Name
Country of incorporation
Holding
Proportion of shares held
Principal activity
Safecare Chrysalis Ltd.
Northern Ireland
Ordinary shares
100%
Nursing home
Swift Screw Products Ltd.
Northern Ireland
Ordinary shares
100%
Distributor of screws,nuts & bolts
Squarefield Developments Ltd.
Northern Ireland
Ordinary shares
100%
Property development
9. Fixed asset investments - subsidiaries results
The companies named above are owned directly by Fergal Holding Company Limited . Based on the financial statements of the subsidiaries for the year ended 31st October 2023, Fergal Holding Company Limited 's share of profits/(losses) and net assets/(liabilities) are disclosed below:-
Profit/(loss) after tax for period
Net assets
£
£
Swift Screw Products Ltd
(162,240)
470,837
Squarefield Developments Ltd
(94,316)
771,115
Safecare Chrysalis Ltd
41,724
475,460