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COMPANY REGISTRATION NUMBER: NI668037
Richland Waterfront Limited
Filleted Unaudited Financial Statements
31 December 2023
Richland Waterfront Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Stocks
1,575,108
1,575,108
Debtors
4
68,437
74,992
Cash at bank and in hand
3,107
------------
------------
1,646,652
1,650,100
Creditors: amounts falling due within one year
5
256,500
250,000
------------
------------
Net current assets
1,390,152
1,400,100
------------
------------
Total assets less current liabilities
1,390,152
1,400,100
Creditors: amounts falling due after more than one year
6
1,400,000
1,400,000
------------
------------
Net (liabilities)/assets
( 9,848)
100
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 9,948)
-------
----
Shareholders (deficit)/funds
( 9,848)
100
-------
----
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 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Richland Waterfront Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 3 June 2024 , and are signed on behalf of the board by:
Mr G McCausland
Director
Company registration number: NI668037
Richland Waterfront Limited
Notes to the Financial Statements
Year ended 31 December 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.
Debtors and creditors receivable / payable within one year
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 profit and loss account in other administrative expenses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
66,797
74,892
Other debtors
1,640
100
--------
--------
68,437
74,992
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
256,500
250,000
----------
----------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
1,400,000
1,400,000
------------
------------
7. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr G McCausland
( 150,000)
150,000
----------
----------
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr G McCausland
( 150,000)
( 150,000)
----
----------
----------
8. Related party transactions
Included in note 4, 5 and 6 are the following balances with related parties
20232022
££
Richland Capital Limited66,79774,892
Evant Capital Limited(256,500)(100,000)
The above parties are related by virtue of under common control.