Company Registration No. NI656935 (Northern Ireland)
Castleshane Investments Limited
Unaudited accounts
for the year ended 30 November 2023
Castleshane Investments Limited
Statement of financial position
as at 30 November 2023
Investment property
1,643,289
1,427,386
Cash at bank and in hand
35,504
20,738
Creditors: amounts falling due within one year
(54,063)
(52,984)
Net current liabilities
(16,474)
(30,671)
Total assets less current liabilities
1,626,815
1,396,715
Creditors: amounts falling due after more than one year
(164,520)
(167,886)
Provisions for liabilities
Net assets
1,408,553
1,228,829
Called up share capital
1,140,000
1,140,000
Profit and loss account
268,553
88,829
Shareholders' funds
1,408,553
1,228,829
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 28 August 2024 and were signed on its behalf by
Peter Greene
Director
Company Registration No. NI656935
Castleshane Investments Limited
Notes to the Accounts
for the year ended 30 November 2023
Castleshane Investments Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI656935. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The director believes that the company Castleshane Investments Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
The accounts are presented in £ sterling.
Investment property is included at market fair value. Gains and losses are recognised in the income statement.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rendering of rental services is recognised in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Fair value at 1 December 2022
1,427,386
Net gain from fair value adjustments
214,710
At 30 November 2023
1,643,289
Castleshane Investments Limited
Notes to the Accounts
for the year ended 30 November 2023
Amounts falling due within one year
Accrued income and prepayments
2,085
1,575
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
17,856
17,856
Taxes and social security
5,222
6,201
Other creditors
25,455
26,027
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
164,520
167,886
Security on bank loans is provided by way of fixed charge over certain assets held by the Company.
8
Deferred taxation
2023
2022
Revaluation of investment property
53,742
-
Charged to the profit and loss account
53,742
-
Provision at end of year
53,742
-
Allotted, called up and fully paid:
140,000 Ordinary shares of £1 each
140,000
140,000
1,000,000 Preference shares of £1 each
1,000,000
1,000,000
10
Average number of employees
During the year the average number of employees was 0 (2022: 0).