BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the management of real estate on a fee or contract basis. 20 August 2024 2 2 NI642713 2023-12-31 NI642713 2022-12-31 NI642713 2021-12-31 NI642713 2023-01-01 2023-12-31 NI642713 2022-01-01 2022-12-31 NI642713 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI642713 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI642713 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI642713 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI642713 uk-bus:Director1 2023-01-01 2023-12-31 NI642713 uk-bus:Director2 2023-01-01 2023-12-31 NI642713 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 NI642713 uk-bus:Agent1 2023-01-01 2023-12-31 NI642713 uk-core:ShareCapital 2023-12-31 NI642713 uk-core:ShareCapital 2022-12-31 NI642713 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI642713 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI642713 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI642713 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI642713 uk-bus:FRS102 2023-01-01 2023-12-31 NI642713 uk-core:CurrentFinancialInstruments 2023-12-31 NI642713 uk-core:CurrentFinancialInstruments 2022-12-31 NI642713 uk-core:WithinOneYear 2023-12-31 NI642713 uk-core:WithinOneYear 2022-12-31 NI642713 2023-01-01 2023-12-31 NI642713 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI642713
 
 
SP Developments (Annadale) Ltd
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2023
SP Developments (Annadale) Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Robert Mulligan
Aoife Woods
 
 
Company Registration Number NI642713
 
 
Registered Office and Business Address 16 Mount Charles
Belfast
BT7 1NZ
Northern Ireland
 
 
Accountants Muldoon & Co
Chartered Accountants & Reporting Accountants
16 Mount Charles
Belfast
BT7 1NZ
 
 
Bankers Bank of Ireland
  Belfast City Branch
  Belfast
  BT1 2BA
 
   
Solicitors Mills Selig
  21 Arthur Street
  Belfast
  BT1 4GA



SP Developments (Annadale) Ltd
DIRECTORS' REPORT
for the financial year ended 31 December 2023

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2023.
     
Directors
The directors who served during the financial year are as follows:
     
Robert Mulligan
Aoife Woods
   
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
     
___________________________
Aoife Woods
Director
     
20 August 2024



SP Developments (Annadale) Ltd
Company Registration Number: NI642713
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Current Assets
Stocks 5 241,433 241,433
Debtors 6 - 41,577
Cash and cash equivalents 4,136 2,512
───────── ─────────
245,569 285,522
───────── ─────────
Creditors: amounts falling due within one year 7 (530,950) (545,085)
───────── ─────────
Net Current Liabilities (285,381) (259,563)
───────── ─────────
Total Assets less Current Liabilities (285,381) (259,563)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings (285,481) (259,663)
───────── ─────────
Equity attributable to owners of the company (285,381) (259,563)
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 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 and loss for the 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.
           
Approved by the Board and authorised for issue on 20 August 2024 and signed on its behalf by
           
           
           
________________________________          
Aoife Woods          
Director          
           



SP Developments (Annadale) Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
SP Developments (Annadale) Ltd is a private company limited by shares incorporated in Northern Ireland. 16 Mount Charles, Belfast, BT7 1NZ, Northern Ireland is the registered office, with the principal place of business being 76 Broughshane Road, Ballymena BT43 7DY. The financial statements have been presented in Pound (£) which is also the functional currency of the company. The registration number of the company is NI642713.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The financial statements have been prepared on the basis of the company being a going concern. The company has the ongoing support of directors and related parties. The directors have reviewed the accounts and are satisfied for them to be prepared under the going concern basis.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2023 2022
  Number Number
 
Employees 2 2
  ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 241,433 241,433
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Trade debtors - 15,057
Amounts owed by connected parties (Note 9) - (13,689)
Other debtors - 13,000
Taxation  (Note 8) - 27,209
  ───────── ─────────
  - 41,577
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Trade creditors 1 24,800
Amounts owed to group undertakings 246,942 238,942
Amounts owed to connected parties (Note 9) 269,442 266,442
Taxation  (Note 8) 4,414 -
Accruals 10,151 14,901
  ───────── ─────────
  530,950 545,085
  ═════════ ═════════
       
8. Taxation 2023 2022
  £ £
 
Debtors:
VAT - 27,209
  ═════════ ═════════
Creditors:
VAT 4,414 -
  ═════════ ═════════
           
9. Related party transactions
  Balance Movement Balance Maximum
  2023 in year 2022 in year
  £ £ £ £
 
  - 109,929 (109,929) -
  - (96,240) 96,240 -
  ───────── ───────── ───────── ═════════
  - 13,689 (13,689)  
  ═════════ ═════════ ═════════ ═════════
 
The following amounts are due to other connected parties:
      2023 2022
      £ £
 
      81,850 81,850
      41,729 41,729
      34,048 31,048
      66,815 66,815
      45,000 45,000
      ───────── ─────────
      269,442 266,442
      ═════════ ═════════
 
Net balances with other connected parties:
      2023 2022
      £ £
 
      (81,850) (191,779)
      (41,729) (41,729)
      (34,048) (31,048)
      (66,815) (66,815)
      - 96,240
      (45,000) (45,000)
      ───────── ─────────
      (269,442) (280,131)
      ═════════ ═════════