Registered number
NI677219
Donard Properties Limited
Filleted Accounts
31 December 2023
Donard Properties Limited
Registered number: NI677219
Balance Sheet
as at 31 December 2023
Notes 2023 2022
Fixed assets
Investments 3 4,962,068 4,248,223
4,962,068 4,248,223
Current assets
Debtors 4 58,681 33,629
Cash at bank and in hand 32,688 14,012
91,369 47,641
Creditors: amounts falling due within one year 5 (2,633) (1,213)
Net current assets 88,736 46,428
Total assets less current liabilities 5,050,804 4,294,651
Creditors: amounts falling due after more than one year 6 (5,365,266) (4,507,101)
Net liabilities (314,462) (212,450)
Capital and reserves
Called up share capital 117 117
Profit and loss account (314,579) (212,567)
Shareholders' funds (314,462) (212,450)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records 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 or loss for the financial year, in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Cummins
Director
Approved by the board on 19 January 2024
Donard Properties Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under going concern basis and the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Investments
Investments in
subsidiary Other
undertakings investments Total
Cost
At 1 January 2023 - 4,248,223 4,248,223
Additions - 713,845 713,845
At 31 December 2023 - 4,962,068 4,962,068
4 Debtors 2023 2022
Other debtors 58,681 33,629
58,681 33,629
Amounts due after more than one year included above 53,690 -
5 Creditors: amounts falling due within one year 2023 2022
Other creditors 2,633 1,213
2,633 1,213
6 Creditors: amounts falling due after one year 2023 2022
Trade creditors - 29,801
Amounts owed to group undertakings and undertakings in which the company has a participating interest 756,407 209,903
Other creditors 4,608,859 4,267,397
5,365,266 4,507,101
7 Events after the reporting date
There have been no significant events affecting the company since the year end.
8 Off-balance sheet arrangements
There have been no off-balance sheet arrangements made during the accounting period.
9 Controlling party
The company is a 90% owned subsidiary of Donard Holdings Limited, a company incorporated in Northern Ireland with a registered office address at 27 Cloverdale, Newry, Co. Down, Northern Ireland BT34 1HY.
10 Other information
Donard Properties Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: 27 Cloverdale, Newry, Co. Down, Northern Ireland, BT34 1HY
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