REGISTERED NUMBER: |
DOONEEN FARMS LTD |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 DECEMBER 2023 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Church House |
24 Dublin Road |
OMAGH |
Co. Tyrone |
BT78 1HE |
BANKERS: |
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 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
DOONEEN FARMS LTD (REGISTERED NUMBER: NI627660) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Land & buildings | - |
Plant and machinery | - |
Fixtures and fittings | - |
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 |
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 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
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. |
for and on behalf of |
9. | CAPITAL COMMITMENTS |
2023 | 2022 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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. |