Rathkenny Investments Limited NI623982 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property investment Digita Accounts Production Advanced 6.30.9574.0 true true NI623982 2023-01-01 2023-12-31 NI623982 2023-12-31 NI623982 bus:OrdinaryShareClass1 2023-12-31 NI623982 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-12-31 NI623982 core:CurrentFinancialInstruments 2023-12-31 NI623982 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI623982 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 NI623982 bus:SmallEntities 2023-01-01 2023-12-31 NI623982 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI623982 bus:FilletedAccounts 2023-01-01 2023-12-31 NI623982 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI623982 bus:RegisteredOffice 2023-01-01 2023-12-31 NI623982 bus:Director1 2023-01-01 2023-12-31 NI623982 bus:Director2 2023-01-01 2023-12-31 NI623982 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI623982 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI623982 countries:NorthernIreland 2023-01-01 2023-12-31 NI623982 2022-12-31 NI623982 2022-01-01 2022-12-31 NI623982 2022-12-31 NI623982 bus:OrdinaryShareClass1 2022-12-31 NI623982 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2022-12-31 NI623982 core:CurrentFinancialInstruments 2022-12-31 NI623982 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI623982 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI623982

Rathkenny Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Rathkenny Investments Limited

(Registration number: NI623982)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

3,361,482

2,885,562

Other financial assets

5

2,324,067

-

 

5,685,549

2,885,562

Current assets

 

Debtors

6

225,107

4,281

Cash at bank and in hand

 

146,058

3,691,238

 

371,165

3,695,519

Creditors: due within one year

7

(119,664)

(728,499)

Net current assets

 

251,501

2,967,020

Total assets less current liabilities

 

5,937,050

5,852,582

Creditors: due after more than one year

8

(100,000)

(200,000)

Provisions for liabilities

(74,249)

(52,641)

Net assets

 

5,762,801

5,599,941

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

5,762,799

5,599,939

Shareholders' funds

 

5,762,801

5,599,941

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Rathkenny Investments Limited

(Registration number: NI623982)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 19 June 2024 and signed on its behalf by:
 

.........................................
Mr Darren Wilson
Director

.........................................
Mr John Wilson
Director

 
     
 

Rathkenny Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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: 371 Cushendall Road, Ballymena, County Antrim, BT43 6QB.

These financial statements were authorised for issue by the Board on 19 June 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.

Going concern

The financial statements have been prepared on a going concern basis.

Rental income

Rental income represents total invoiced amounts for the accounting period net of value added tax. The company recognises rental income when the amount can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Rathkenny Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Investment property

Investment properties are accounted for in accordance with the requirements of Financial Reporting Standard 102. They are included in the financial statements at their fair value as at the balance sheet date. Fair value gains and losses are reported through the profit and loss account.

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 on impairment are recognised in the profit and loss account in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Investment properties

2023
£

At 1 January

2,885,562

Additions

475,920

At 31 December

3,361,482

 

Rathkenny Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Other financial assets (current and non-current)

2023
£

2022
£

Financial assets at fair value through profit and loss

2,324,067

-

6

Debtors

2023
£

2022
£

Prepayments

2,862

-

Other debtors

222,245

4,281

 

225,107

4,281

7

Creditors

2023
£

2022
£

Trade creditors

67,685

40,338

Taxation and social security

11,767

630,498

Accruals and deferred income

5,783

22,877

Other creditors

34,429

34,786

119,664

728,499

8

Creditors: due after more than one year

2023
£

2022
£

Amounts owed to related parties

100,000

200,000

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2