BrightAccountsProduction v1.0.0 v1.0.0 2022-12-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of property acquisitions, sales and lettings. 27 August 2024 0 0 NI657007 2023-11-30 NI657007 2022-11-30 NI657007 2021-11-30 NI657007 2022-12-01 2023-11-30 NI657007 2021-12-01 2022-11-30 NI657007 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI657007 uk-curr:PoundSterling 2022-12-01 2023-11-30 NI657007 uk-bus:AbridgedAccounts 2022-12-01 2023-11-30 NI657007 uk-core:ShareCapital 2023-11-30 NI657007 uk-core:ShareCapital 2022-11-30 NI657007 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI657007 uk-core:RetainedEarningsAccumulatedLosses 2022-11-30 NI657007 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 NI657007 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-11-30 NI657007 uk-bus:FRS102 2022-12-01 2023-11-30 NI657007 uk-core:AdditionsToInvestments 2022-11-30 NI657007 uk-core:AdditionsToInvestments 2023-11-30 NI657007 uk-core:CostValuation 2023-11-30 NI657007 2022-12-01 2023-11-30 NI657007 uk-bus:Director1 2022-12-01 2023-11-30 NI657007 uk-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI657007
 
 
Maguire Property Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 November 2023
Maguire Property Ltd
Company Registration Number: NI657007
ABRIDGED BALANCE SHEET
as at 30 November 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 124,966 124,966
Investments 6 2,370 -
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Fixed Assets 127,336 124,966
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Current Assets
Cash and cash equivalents 4,012 12,697
Creditors: amounts falling due within one year (151,624) (150,879)
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Net Current Liabilities (147,612) (138,182)
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Total Assets less Current Liabilities (20,276) (13,216)
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Capital and Reserves
Called up share capital 100 100
Retained earnings (20,376) (13,316)
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Equity attributable to owners of the company (20,276) (13,216)
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 27 August 2024 and signed on its behalf by
           
           
           
________________________________          
Conor Maguire          
Director          
           



Maguire Property Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 November 2023

   
1. General Information
 
Maguire Property Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 30a Gortin Road, Omagh, Co Tyrone, BT79 7HX. The principal activity of the company is that of property acquisitions, sales and lettings. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 30 November 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by the directors. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Abridged Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Abridged Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

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 tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. In addition the directors have confirmed that they will not recall any loans within 12 months. The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 0, (2022 - 0).
       
5. Tangible assets
  Investment Total
  properties  
     
  £ £
Cost
At 1 December 2022 124,966 124,966
  ───────── ─────────
 
At 30 November 2023 124,966 124,966
  ───────── ─────────
Depreciation
At 1 December 2022 - -
  ───────── ─────────
At 30 November 2023 - -
  ───────── ─────────
Net book value
At 30 November 2023 124,966 124,966
  ═════════ ═════════
At 30 November 2022 124,966 124,966
  ═════════ ═════════
       
6. Investments
  Other Total
  investments  
     
Investments £ £
Cost
Additions 2,370 2,370
  ───────── ─────────
At 30 November 2023 2,370 2,370
  ───────── ─────────
Net book value
At 30 November 2023 2,370 2,370
  ═════════ ═════════
       
7. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2023.
   
8. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.