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REGISTERED NUMBER: NI627660 (Northern Ireland)















DOONEEN FARMS LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2023






DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)






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


DOONEEN FARMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M T Crawford
Mr R T D Crawford



SECRETARY: Mrs C Crawford



REGISTERED OFFICE: 10 Lunnon Road
ISLANDMAGEE
Co. Antrim
BT40 3TH



REGISTERED NUMBER: NI627660 (Northern Ireland)



AUDITORS: McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
Donegall Square West
BELFAST
BT1 6JS

DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,663,558 1,984,220

CURRENT ASSETS
Stocks 36,553 95,262
Debtors 5 289,312 79,381
Cash at bank 161,911 144,006
487,776 318,649
CREDITORS
Amounts falling due within one year 6 323,490 9,489
NET CURRENT ASSETS 164,286 309,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,827,844

2,293,380

CREDITORS
Amounts falling due after more than one
year

7

(2,517,473

)

(1,993,096

)

PROVISIONS FOR LIABILITIES (157,526 ) (13,664 )
NET ASSETS 152,845 286,620

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 142,845 276,620
152,845 286,620

DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

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 28 June 2024 and were signed on its behalf by:




Mr R T D Crawford - Director



Mr M T Crawford - Director


DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

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

1. STATUTORY INFORMATION

Dooneen Farms Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Going concern
The company finances its working capital and capital expenditure by way of funding provided to it by its parent company, fellow group companies, and its directors. The company reported a net loss of £133,775 (2022: net profit of £33,341) during the financial year, and reported net assets of £152,845 (2022: £286,620).

The company's ultimate parent has confirmed that the group companies will continue to provide financial support to the company for a period of at least one year from the date of the approval of these financial statements. It is on the basis of that continued group support that the director concludes that the company will continue as a going concern, and these financial statements therefore have been prepared on the going concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 0%
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% - 25% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is defined as the expenditure which has been incurred in the normal course of business in bridging the product to its present location and condition. Net realisable value is the actual or estimated selling price less all further costs to completion and all costs to be incurred in marketing, selling and distributing.


DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
The company's presentation currency is GBP ("sterling"). 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.

Pension costs
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses

Grant income
Grants related to expenditure are credited to the Profit and Loss account as the expenditure is incurred.

3. EMPLOYEES

The average number of employees during the year was 1 (2022 - 1 ) .

DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Land & Plant and and
buildings machinery fittings Totals
£    £    £    £   
COST
At 1 January 2023 1,841,723 351,024 5,179 2,197,926
Additions 133,854 667,298 573 801,725
At 31 December 2023 1,975,577 1,018,322 5,752 2,999,651
DEPRECIATION
At 1 January 2023 - 210,015 3,691 213,706
Charge for year - 121,246 1,141 122,387
At 31 December 2023 - 331,261 4,832 336,093
NET BOOK VALUE
At 31 December 2023 1,975,577 687,061 920 2,663,558
At 31 December 2022 1,841,723 141,009 1,488 1,984,220

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 134,786 55,460
Other debtors 154,526 23,921
289,312 79,381

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,727 3,735
Taxation and social security 42 777
Other creditors 319,721 4,977
323,490 9,489

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 2,517,473 1,992,473
Other creditors - 623
2,517,473 1,993,096

DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan - 623

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Barnett (Senior Statutory Auditor)
for and on behalf of McAleer Jackson Ltd

9. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements - 750,000

10. RELATED PARTY DISCLOSURES

The company has taken advantage of Section 33.1A of FRS102, whereby disclosures need not be given of transactions entered into between members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.

11. ULTIMATE CONTROLLING PARTY

Mr R T D Crawford is the ultimate controlling party by virtue of his shareholding in RTD Crawford Holdings Ltd. RTD Crawford Holdings Ltd is the ultimate parent company of the group, of which Dooneen Farms Ltd is a member, for which consolidated financial statements are drawn up.

12. RECLASSIFICATION

Certain prior year amounts have been reclassified for consistency with current year presentation. These reclassifications had no effect on the reported results of the operations.