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Registered number: NI698537










ERRIGAL IWI (HOLDINGS) LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
ERRIGAL IWI (HOLDINGS) LIMITED
REGISTERED NUMBER: NI698537

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
Note
£

Fixed assets
  

Investments
 3 
444,441

  
444,441

Current assets
  

Debtors: amounts falling due within one year
  
76,000

Cash at bank and in hand
 5 
100

  
76,100

Creditors: amounts falling due within one year
 6 
(253,294)

Net current (liabilities)/assets
  
 
 
(177,194)

Total assets less current liabilities
  
267,247

Creditors: amounts falling due after more than one year
 7 
(267,147)

  

Net assets
  
100


Capital and reserves
  

Called up share capital 
  
100

  
100


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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 September 2024.




Cormac McCloskey
Director

The notes on pages 2 to 4 form part of these financial statements.

Page 1

 
ERRIGAL IWI (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Errigal IWI (Holdings) Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 181 Pollys Brae Road, Dungiven, Co. Londonderry, Northern Ireland, BT47 7NX. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
2.2

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

 
ERRIGAL IWI (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


Additions
3,504,819



At 31 December 2023

3,504,819



Impairment


Charge for the period
3,060,378



At 31 December 2023

3,060,378



Net book value



At 31 December 2023
444,441


4.


Debtors

2023
£


Amounts owed by group undertakings
76,000

76,000


Amounts owed by group undertakings is unsecured, interest free and repayable on demand.


5.


Cash and cash equivalents

2023
£

Cash at bank and in hand
100

100


Page 3

 
ERRIGAL IWI (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
£

Amounts owed to group undertakings
253,294

253,294


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


7.


Creditors: Amounts falling due after more than one year

2023
£

Other creditors
267,147

267,147



8.


Controlling party

The ultimate parent undertaking is Errigal Contracts Group Limited, a company registered in the Republic of Ireland.
The smallest and largest undertaking of which the company is a member, and for which group financial statements are prepared is Errigal Contracts Group Limited, a company incorporated in the Republic of Ireland. Group financial statements for this company are prepared and are available to the public from the company's registered office.
Mr Damien Treanor and Mr Cormac McCloskey are considered to be the ultimate controlling parties of Errigal Contracts Group Limited by virtue of their shareholding in the parent company.


9.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 19 September 2024 by Teresa Campbell (Senior statutory auditor) on behalf of AAB Group Accountants Limited.

Page 4