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REGISTERED NUMBER: NI642540 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR

FIRWOOD INVESTMENTS LIMITED

FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

FIRWOOD INVESTMENTS LIMITED

COMPANY INFORMATION
for the Year Ended 31 AUGUST 2023







DIRECTOR: J T Johnston





REGISTERED OFFICE: 17 Old Church Lane
Aghalee
Antrim
BT67 0EY





REGISTERED NUMBER: NI642540 (Northern Ireland)





ACCOUNTANTS: Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

BALANCE SHEET
31 AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 507 597
Investment property 5 406,690 406,690
407,197 407,287

CURRENT ASSETS
Debtors 6 138,871 138,817
Cash at bank 21,489 9,412
160,360 148,229
CREDITORS
Amounts falling due within one year 7 476,864 473,451
NET CURRENT LIABILITIES (316,504 ) (325,222 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

90,693

82,065

CREDITORS
Amounts falling due after more than one year 8 18,300 28,313
NET ASSETS 72,393 53,752

RESERVES
Retained earnings 72,393 53,752
SHAREHOLDERS' FUNDS 72,393 53,752

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

BALANCE SHEET - continued
31 AUGUST 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 16 August 2024 and were signed by:





J T Johnston - Director


FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 AUGUST 2023


1. STATUTORY INFORMATION

Firwood Investments Limited 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. ACCOUNTING POLICIES

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investment property
In accordance with Statement Accounting Practice No. 19, certain of the company's properties are held for long-term investment and are included in the balance sheet at their open market values. The surpluses or deficits on annual revaluation of such properties are transferred to the investment revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years.

This policy represents a departure from the statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors consider that this policy is necessary in order that the financial statements may give a true and fair view, because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2023


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 1,345
DEPRECIATION
At 1 September 2022 748
Charge for year 90
At 31 August 2023 838
NET BOOK VALUE
At 31 August 2023 507
At 31 August 2022 597

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022
and 31 August 2023 406,690
NET BOOK VALUE
At 31 August 2023 406,690
At 31 August 2022 406,690

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Amounts owed by group undertakings 136,827 136,827
Prepayments 2,044 1,990
138,871 138,817

FIRWOOD INVESTMENTS LIMITED (REGISTERED NUMBER: NI642540)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 AUGUST 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Loan 9,982 9,993
Amounts owed to group undertakings 459,933 457,164
Tax 624 1,699
Directors' current accounts 2,808 1,195
Accrued expenses 3,517 3,400
476,864 473,451

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Loan - 1-2 years 9,982 9,993
Loan - 2-5 years 8,318 18,320
18,300 28,313

9. ULTIMATE CONTROLLING PARTY

The company is owned by James Johnston Discretionary Trust, the trustees of which are James Johnston Jnr and Adel Parke.

FIRWOOD INVESTMENTS LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
FIRWOOD INVESTMENTS LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT


16 August 2024