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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2023
1,335,925
1,335,925
1,335,925
xbrli:pure
xbrli:shares
iso4217:GBP
NI066999
2022-12-01
2023-11-30
NI066999
2023-11-30
NI066999
2022-11-30
NI066999
2021-12-01
2022-11-30
NI066999
2022-11-30
NI066999
2021-11-30
NI066999
bus:Director1
2022-12-01
2023-11-30
NI066999
core:WithinOneYear
2023-11-30
NI066999
core:WithinOneYear
2022-11-30
NI066999
core:ShareCapital
2023-11-30
NI066999
core:ShareCapital
2022-11-30
NI066999
core:RetainedEarningsAccumulatedLosses
2023-11-30
NI066999
core:RetainedEarningsAccumulatedLosses
2022-11-30
NI066999
core:LandBuildings
2023-11-30
NI066999
core:LandBuildings
2022-11-30
NI066999
bus:Director1
2022-11-30
NI066999
bus:Director1
2023-11-30
NI066999
bus:Director1
2021-11-30
NI066999
bus:Director1
2022-11-30
NI066999
bus:Director1
2021-12-01
2022-11-30
NI066999
bus:SmallEntities
2022-12-01
2023-11-30
NI066999
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
NI066999
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
NI066999
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
NI066999
bus:FullAccounts
2022-12-01
2023-11-30
NI066999
core:OtherRelatedParties
2022-12-01
2023-11-30
COMPANY REGISTRATION NUMBER:
NI066999
Dunleer Properties Limited |
|
Filleted Unaudited Financial Statements |
|
Dunleer Properties Limited |
|
Year ended 30th November 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Dunleer Properties Limited |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Tangible assets |
4 |
|
1,335,925 |
1,335,925 |
|
|
|
|
|
Current assets
Debtors |
5 |
668,874 |
|
568,874 |
Cash at bank and in hand |
164 |
|
229 |
|
---------- |
|
---------- |
|
669,038 |
|
569,103 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
949,083 |
|
917,454 |
|
---------- |
|
---------- |
Net current liabilities |
|
280,045 |
348,351 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,055,880 |
987,574 |
|
|
------------ |
---------- |
Net assets |
|
1,055,880 |
987,574 |
|
|
------------ |
---------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
1 |
Profit and loss account |
|
1,055,879 |
987,573 |
|
|
------------ |
---------- |
Shareholders funds |
|
1,055,880 |
987,574 |
|
|
------------ |
---------- |
|
|
|
|
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 30th November 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
.
Dunleer Properties Limited |
|
Statement of Financial Position (continued) |
|
30 November 2023
These financial statements were approved by the
board of directors
and authorised for issue on
19 August 2024
, and are signed on behalf of the board by:
Company registration number:
NI066999
Dunleer Properties Limited |
|
Notes to the Financial Statements |
|
Year ended 30th November 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
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.
4.
Tangible assets
Cost |
|
At 1st December 2022 and 30th November 2023 |
1,335,925 |
|
------------ |
Depreciation |
|
At 1st December 2022 and 30th November 2023 |
– |
|
------------ |
Carrying amount |
|
At 30th November 2023 |
1,335,925 |
|
------------ |
At 30th November 2022 |
1,335,925 |
|
------------ |
|
|
During the year the company held property at Unit 3, Springhill Road, Carnbane Industrial Estate, Newry valued at cost (£1,335,925). The property is held as investment property and has not been depreciated. The director believes that the purchase cost reflects the market value at the year end.
5.
Debtors
Trade debtors |
668,874 |
568,874 |
|
---------- |
---------- |
|
|
|
6.
Creditors:
amounts falling due within one year
Corporation tax |
18,297 |
16,942 |
Other creditors |
930,786 |
900,512 |
|
---------- |
---------- |
|
949,083 |
917,454 |
|
---------- |
---------- |
|
|
|
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 A Matthews |
(
896,552) |
(
32,254) |
(
928,806) |
|
---------- |
-------- |
---------- |
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
|
|
|
|
Mr A Matthews |
(
869,008) |
(
27,544) |
(
896,552) |
|
---------- |
-------- |
---------- |
|
|
|
|
8.
Related party transactions
Mr A Matthews
is the managing director and sole shareholder and the company was under his control throughout the current and previous year.
Mr A Matthews
t/a Austin Matthews Agencies rents the company's premises at Unit 3 Springfield Road, Carnbane Industrial Estate, Newry at a rate of £100,000 per annum. At the year end, Mr A Matthews
is owed £928,806 (2022: £895,552) from the company. This balance is included in Note 6 to the financial statements.
9.
Control
The company is controlled by Mr A Matthews who owns 100% of the issued share capital.