Company registration number: NI025399
Unaudited financial statements
for the year ended 31 December 2023
for
Clonmola Limited
Pages for filing with the Registrar
Company registration number: NI025399
Clonmola Limited
Balance sheet
as at 31 December 2023
31 Dec 23 31 Dec 22
Note £ £ £ £
Fixed assets
Tangible assets 4 27,024 31,793
Investments 5 10 10
27,034 31,803
Current assets
Debtors 82,265 79,265
Investments 400,491 400,491
Cash at bank and in hand 129,606 104,346
612,362 584,102
Creditors: amounts falling due within
one year
(214,241) (186,146)
Net current assets 398,121 397,956
Total assets less current liabilities 425,155 429,759
Creditors: Amounts falling due after
more than one year
(38,401) (43,580)
Provisions for liabilities (530) (530)
NET ASSETS 386,224 385,649
Capital and reserves
Called up share capital 20,012 20,012
Profit and loss account 366,212 365,637
TOTAL EQUITY 386,224 385,649
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: NI025399
Clonmola Limited
Balance sheet - continued
as at 31 December 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 11 September 2024 and signed on its behalf by:
Mrs R Sinnamon, Director
11 September 2024
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Clonmola Limited
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in Northern Ireland. Its registered number is NI025399. The company is limited by shares. Its registered office is 19 Berkeley Hall Square, Lisburn, BT27 5TB.
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 historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Short leasehold property - 15% reducing balance
Plant and machinery etc.:
Fixtures & fittings - 15% reducing balance
Investments in subsidiaries
Investments in subsidiaries are recognised at cost.
3
Clonmola Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account, 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 taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
3 Average number of employees
During the year the average number of employees was 2 (2022 - 2).
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 January 2023 8,750 66,609 75,359
At 31 December 2023 8,750 66,609 75,359
Depreciation
At 1 January 2023 7,026 36,540 43,566
Charge for year 259 4,510 4,769
At 31 December 2023 7,285 41,050 48,335
Net book value
At 31 December 2023 1,465 25,559 27,024
At 31 December 2022 1,724 30,069 31,793
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Clonmola Limited
Notes to the financial statements - continued
for the year ended 31 December 2023
5 Fixed asset investments
Investments other than loans
Shares in
group
undertakings
and
participating
interests
£
Cost
At 1 January 2023 10
At 31 December 2023 10
Net book value
At 31 December 2023 10
At 31 December 2022 10
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