Company Registration No. NI614668 (Northern Ireland)
Clandeboye Investments Limited
Unaudited accounts
for the year ended 31 December 2023
Clandeboye Investments Limited
Statement of financial position
as at 31 December 2023
Investments
259,802
269,207
Cash at bank and in hand
5,584
17,285
Creditors: amounts falling due within one year
(1,500)
(1,849)
Net current assets
4,084
21,898
Total assets less current liabilities
263,886
291,105
Provisions for liabilities
Deferred tax
(27,193)
(27,999)
Net assets
236,693
263,106
Called up share capital
67,268
67,268
Profit and loss account
169,425
195,838
Shareholders' funds
236,693
263,106
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 September 2024 and were signed on its behalf by
Patricia Kidd
Director
Company Registration No. NI614668
Clandeboye Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
Clandeboye Investments Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI614668. The registered office is Unit 2 Channel Wharf , 21 Old Channel Road, Belfast, Antrim, BT3 9DE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The director believes that the company Clandeboye Investments Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
The accounts are presented in £ sterling.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be measured reliably. Turnover comprises dividend income received from investments.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at fair value with changes in fair value recognised through the profit and loss account.
4
Investments
Other investments
Valuation at 1 January 2023
269,207
Fair value adjustments
(6,535)
Valuation at 31 December 2023
259,802
The profit and loss account includes £146,086 of accumulated undistributable reserves relating to fair value uplifts on investments (2022: £152,621).
Clandeboye Investments Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
349
7
Deferred taxation
2023
2022
Revaluation of investment property
27,193
27,999
Provision at start of year
27,999
36,628
Credited to the profit and loss account
(806)
(8,629)
Provision at end of year
27,193
27,999
Allotted, called up and fully paid:
67,268 Ordinary shares of £1 each
67,268
67,268
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).