REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
ANTRIM DEVELOPMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
ANTRIM DEVELOPMENTS LIMITED |
ANTRIM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02898734) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ANTRIM DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
83 Cambridge Street |
London |
SW1V 4PS |
BANKERS: |
364 Lisburn Road |
Belfast |
BT9 6GL |
ANTRIM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02898734) |
BALANCE SHEET |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges her 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. |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
ANTRIM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02898734) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Antrim Developments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts present information about the Company as an individual undertaking, and not about its group. |
Consolidated accounts have not been prepared as permitted by Section 398, Companies Act 2006 (exemption for small groups). |
The financial statements have been prepared on a going concern basis. The company has obtained undertakings from its parent company, Shoal International Inc. that they will continue to support the company for the foreseeable future and will meet all third party liabilities as they fall due. Given this undertaking, the director considers it appropriate to adopt a going concern basis in preparing the financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are stated at cost less any provision for impairment. |
Stocks |
Development properties are defined as those properties in respect of which construction and development have not been completed at the balance sheet date and are classified as work in progress within stocks until sold. |
Development properties are stated at the lower of cost and net realisable value where cost consists of the purchase price of the property and direct expenditure incurred in developing the property. |
Financial instruments |
The Company only enters into basic financial transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and investments in non-puttable ordinary shares. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Taxation |
Taxation for the year comprises current and deferred tax. 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
ANTRIM DEVELOPMENTS LIMITED (REGISTERED NUMBER: 02898734) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
Cost or valuation at 31st December 2023 is represented by: |
Shares in |
group |
undertakings |
£ |
Valuation in 2020 | (4,920 | ) |
Cost | 280,830 |
275,910 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
VAT |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amount due to holding company |
Wages & salaries | 180,813 | 174,403 |
Directors' current accounts | 13,926 | 9,020 |
Accrued expenses |