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REGISTERED NUMBER: 05315074 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BALLYTRAIN PROPERTIES LIMITED

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BALLYTRAIN PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: B D O'Driscoll
C E O'Driscoll





SECRETARY: Mrs C E O'Driscoll





REGISTERED OFFICE: C/O Nexus Solicitors
Carlton House
16-21 Albert Square
Manchester
M2 5PE





REGISTERED NUMBER: 05315074 (England and Wales)





ACCOUNTANTS: Connaughton & Co
2nd Floor, Boulton House
17-21 Chorlton Street
Manchester
M1 3HY

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,226 1,636
Investment property 5 1,375,000 1,375,000
1,376,226 1,376,636

CURRENT ASSETS
Debtors 6 - 29,853
Cash at bank 74,046 12,893
74,046 42,746
CREDITORS
Amounts falling due within one year 7 153,198 148,267
NET CURRENT LIABILITIES (79,152 ) (105,521 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,297,074

1,271,115

CREDITORS
Amounts falling due after more than one year 8 (819,857 ) (851,083 )

PROVISIONS FOR LIABILITIES 10 (17,114 ) (15,562 )
NET ASSETS 460,103 404,470

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 12 460,101 404,468
SHAREHOLDERS' FUNDS 460,103 404,470

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

BALANCE SHEET - continued
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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





B D O'Driscoll - Director


BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Ballytrain Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 tax
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 have been enacted or substantively enacted by the year end 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 probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023
and 31 December 2023 9,649
DEPRECIATION
At 1 January 2023 8,013
Charge for year 410
At 31 December 2023 8,423
NET BOOK VALUE
At 31 December 2023 1,226
At 31 December 2022 1,636

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,375,000
NET BOOK VALUE
At 31 December 2023 1,375,000
At 31 December 2022 1,375,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 80,269
Cost 1,294,731
1,375,000

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 1,294,731 1,294,731

Investment property was valued on an open market basis on 31 December 2018 by the directors .

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Prepayments and accrued income - 29,853

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors (3 ) (1 )
Tax 16,197 15,977
Social security and other taxes 37 -
VAT 722 1,045
Directors' current accounts 135,245 130,246
Accrued expenses 1,000 1,000
153,198 148,267

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Directors' loan accounts 819,857 851,083

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Directors' loan 819,857 851,083

The directors loan account due greater than one year is secured by a legal charge over a property included in investment properties with a fair value amounting to £250,000.

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 17,114 15,562

Deferred
tax
£   
Balance at 1 January 2023 15,562
Accelerated capital allowances 1,552
Balance at 31 December 2023 17,114

BALLYTRAIN PROPERTIES LIMITED (REGISTERED NUMBER: 05315074)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Retained
earnings
£   

At 1 January 2023 404,468
Profit for the year 56,633
Dividends (1,000 )
At 31 December 2023 460,101