BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is specialist sportsground contractors. 25 September 2024 NI619154 2023-12-31 NI619154 2022-12-31 NI619154 2021-12-31 NI619154 2023-01-01 2023-12-31 NI619154 2022-01-01 2022-12-31 NI619154 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI619154 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI619154 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI619154 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI619154 uk-core:ShareCapital 2023-12-31 NI619154 uk-core:ShareCapital 2022-12-31 NI619154 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI619154 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI619154 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI619154 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI619154 uk-bus:FRS102 2023-01-01 2023-12-31 NI619154 uk-core:Goodwill 2023-01-01 2023-12-31 NI619154 uk-core:LandBuildings 2023-01-01 2023-12-31 NI619154 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI619154 uk-core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI619154 uk-core:MotorVehicles 2023-01-01 2023-12-31 NI619154 uk-core:Goodwill 2022-12-31 NI619154 uk-core:Goodwill 2023-12-31 NI619154 uk-core:CostValuation 2022-12-31 NI619154 uk-core:AdditionsToInvestments 2022-12-31 NI619154 uk-core:AdditionsToInvestments 2023-12-31 NI619154 uk-core:CostValuation 2023-12-31 NI619154 uk-core:CurrentFinancialInstruments 2023-12-31 NI619154 uk-core:CurrentFinancialInstruments 2022-12-31 NI619154 uk-core:WithinOneYear 2023-12-31 NI619154 uk-core:WithinOneYear 2022-12-31 NI619154 uk-core:WithinOneYear 2023-12-31 NI619154 uk-core:WithinOneYear 2022-12-31 NI619154 uk-core:WithinOneYear 2023-12-31 NI619154 uk-core:WithinOneYear 2022-12-31 NI619154 uk-core:AfterOneYear 2023-12-31 NI619154 uk-core:AfterOneYear 2022-12-31 NI619154 uk-core:AfterOneYear 2023-12-31 NI619154 uk-core:AfterOneYear 2022-12-31 NI619154 uk-core:BetweenOneTwoYears 2023-12-31 NI619154 uk-core:BetweenOneTwoYears 2022-12-31 NI619154 uk-core:BetweenTwoFiveYears 2023-12-31 NI619154 uk-core:BetweenTwoFiveYears 2022-12-31 NI619154 uk-core:OtherMiscellaneousReserve 2022-12-31 NI619154 uk-core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 NI619154 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI619154 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI619154 uk-core:OtherDeferredTax 2023-12-31 NI619154 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI619154 uk-core:OtherMiscellaneousReserve 2023-12-31 NI619154 2023-01-01 2023-12-31 NI619154 uk-bus:Director1 2023-01-01 2023-12-31 NI619154 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI619154
 
 
Haffey Sportsgrounds Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Haffey Sportsgrounds Limited
Company Registration Number: NI619154
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 1,295,870 1,134,860
Investments 6 78,281 77,781
───────── ─────────
Fixed Assets 1,374,151 1,212,641
───────── ─────────
 
Current Assets
Stocks 7 1,039,916 857,402
Debtors 8 574,019 555,705
Cash and cash equivalents 399,305 1,084,073
───────── ─────────
2,013,240 2,497,180
───────── ─────────
Creditors: amounts falling due within one year 9 (562,599) (982,808)
───────── ─────────
Net Current Assets 1,450,641 1,514,372
───────── ─────────
Total Assets less Current Liabilities 2,824,792 2,727,013
 
Creditors:
amounts falling due after more than one year 10 - (98,687)
 
Provisions for liabilities 12 (245,729) (227,953)
───────── ─────────
Net Assets 2,579,063 2,400,373
═════════ ═════════
 
Capital and Reserves
Called up share capital 1 1
Retained earnings 2,579,062 2,400,372
───────── ─────────
Equity attributable to owners of the company 2,579,063 2,400,373
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 25 September 2024
           
           
           
________________________________          
Mr. Jack Salt          
Director          
           



Haffey Sportsgrounds Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Haffey Sportsgrounds Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI619154. The registered office of the company is 47 Derrycarne Road, Portadown, Co. Armagh, BT62 1PT, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Revenue is recognised on a straight-line basis over the specified period of the contract.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 5 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. Land is not depreciated. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 10% Straight line
  Plant and machinery - 10% Reducing balance
  Fixtures, fittings and equipment - 20% Reducing balance
  Motor vehicles - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Leasing
Rentals payable under operating leases are dealt with in the Profit and Loss Account as incurred over the period of the rental agreement.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Cost comprises materials and labour incurred on individual contracts. Net realisable value comprises actual or estimated costs to date.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 26, (2022 - 26).
 
  2023 2022
  Number Number
 
Director 1 1
Employees 25 25
  ───────── ─────────
  26 26
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 January 2023 150,000 150,000
  ───────── ─────────
 
At 31 December 2023 150,000 150,000
  ───────── ─────────
Amortisation
 
At 31 December 2023 150,000 150,000
  ───────── ─────────
Net book value
At 31 December 2023 - -
  ═════════ ═════════
             
5. Tangible assets
  Land and Plant and Fixtures, Motor Total
  buildings machinery fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 January 2023 122,094 1,811,527 17,411 134,803 2,085,835
Additions - 305,409 6,820 49,733 361,962
Disposals - (59,090) - - (59,090)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 122,094 2,057,846 24,231 184,536 2,388,707
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 46,627 825,254 10,096 68,998 950,975
Charge for the financial year 12,209 125,431 2,827 23,108 163,575
On disposals - (21,713) - - (21,713)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 58,836 928,972 12,923 92,106 1,092,837
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 63,258 1,128,874 11,308 92,430 1,295,870
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 December 2022 75,467 986,273 7,315 65,805 1,134,860
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Investments
  Other Total
  investments  
     
Investments £ £
Cost
At 1 January 2023 77,781 77,781
Additions 500 500
  ───────── ─────────
At 31 December 2023 78,281 78,281
  ───────── ─────────
Net book value
At 31 December 2023 78,281 78,281
  ═════════ ═════════
At 31 December 2022 77,781 77,781
  ═════════ ═════════
       
7. Stocks 2023 2022
  £ £
 
Work in progress 889,916 857,402
Finished goods and goods for resale 150,000 -
  ───────── ─────────
  1,039,916 857,402
  ═════════ ═════════
       
8. Debtors 2023 2022
  £ £
 
Trade debtors 454,368 494,894
Other debtors 98,652 46,334
Prepayments and accrued income 20,999 14,477
  ───────── ─────────
  574,019 555,705
  ═════════ ═════════
       
9. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan - 12,668
Net obligations under finance leases
and hire purchase contracts - 2,524
Trade creditors 392,453 582,226
Taxation  (Note 11) 49,669 156,186
Director's current account 100,266 18,565
Other creditors 12,911 203,339
Accruals 7,300 7,300
  ───────── ─────────
  562,599 982,808
  ═════════ ═════════
       
10. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan - 28,687
Director's loan accounts - 70,000
  ───────── ─────────
  - 98,687
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 9) - 12,668
Repayable between one and two years - 12,668
Repayable between two and five years - 16,019
  ───────── ─────────
  - 41,355
  ═════════ ═════════
 
       
11. Taxation 2023 2022
  £ £
 
Creditors:
VAT 26,885 114,813
Corporation tax - 23,529
PAYE / NI 22,784 17,844
  ───────── ─────────
  49,669 156,186
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 227,953 227,953 163,498
Charged to profit and loss 17,776 17,776 64,455
  ───────── ───────── ─────────
At financial year end 245,729 245,729 227,953
  ═════════ ═════════ ═════════
       
13. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
   
14. Controlling interest
 
The company regard Mr Jack Salt, director and shareholder, as the ultimate controlling interest.
   
15. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.