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REGISTERED NUMBER: NI676583 (Northern Ireland)















SYERLA COMMERCIAL PROPERTIES LTD.

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023






SYERLA COMMERCIAL PROPERTIES LTD. (REGISTERED NUMBER: NI676583)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


SYERLA COMMERCIAL PROPERTIES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Peter O'Donnell





REGISTERED OFFICE: 34 Culrevog Road
Dungannon
BT71 7PY





REGISTERED NUMBER: NI676583 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

SYERLA COMMERCIAL PROPERTIES LTD. (REGISTERED NUMBER: NI676583)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 151,911 147,015
Investment property 6 16,051,306 15,957,777
16,203,217 16,104,792

CURRENT ASSETS
Receivables: amounts falling due within
one year

7

63,405

12,894
Cash at bank - 272,745
63,405 285,639
PAYABLES
Amounts falling due within one year 8 (11,826,301 ) (15,306,339 )
NET CURRENT LIABILITIES (11,762,896 ) (15,020,700 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,440,321

1,084,092

PAYABLES
Amounts falling due after more than
one year

9

(2,685,000

)

-

PROVISIONS FOR LIABILITIES (37,978 ) (27,933 )
NET ASSETS 1,717,343 1,056,159

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,717,342 1,056,158
1,717,343 1,056,159

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

SYERLA COMMERCIAL PROPERTIES LTD. (REGISTERED NUMBER: NI676583)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 director and authorised for issue on 29 April 2024 and were signed by:





Peter O'Donnell - Director


SYERLA COMMERCIAL PROPERTIES LTD. (REGISTERED NUMBER: NI676583)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Syerla Commercial Properties Ltd. 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

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

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

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

SYERLA COMMERCIAL PROPERTIES LTD. (REGISTERED NUMBER: NI676583)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 January 2023 160,800 - 160,800
Additions 10,400 36,000 46,400
At 31 December 2023 171,200 36,000 207,200
DEPRECIATION
At 1 January 2023 13,785 - 13,785
Charge for year 38,471 3,033 41,504
At 31 December 2023 52,256 3,033 55,289
NET BOOK VALUE
At 31 December 2023 118,944 32,967 151,911
At 31 December 2022 147,015 - 147,015

6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023 15,957,777
Additions 93,529
At 31 December 2023 16,051,306
NET BOOK VALUE
At 31 December 2023 16,051,306
At 31 December 2022 15,957,777

7. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other receivables 63,405 12,894

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 315,893 -
Trade payables 13,432 6,110
Amounts owed to group undertakings 11,209,928 15,010,799
Taxation & social security 191,153 207,893
Other payables 95,895 81,537
11,826,301 15,306,339

9. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2023 2022
£ £
Bank loans 2,685,000 -