Dunloy Development Partnership NI605953 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is to promote facilities in the interest of social welfare for recreation or other leisure time with the object of improving conditions of life for all inhabitants of Dunloy and its surrounding areas. Digita Accounts Production Advanced 6.30.9574.0 true true NI605953 2023-01-01 2023-12-31 NI605953 2023-12-31 NI605953 core:CurrentFinancialInstruments 2023-12-31 NI605953 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI605953 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 NI605953 core:LandBuildings 2023-12-31 NI605953 core:OtherPropertyPlantEquipment 2023-12-31 NI605953 bus:SmallEntities 2023-01-01 2023-12-31 NI605953 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI605953 bus:FilletedAccounts 2023-01-01 2023-12-31 NI605953 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI605953 bus:RegisteredOffice 2023-01-01 2023-12-31 NI605953 bus:Director2 2023-01-01 2023-12-31 NI605953 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI605953 core:LandBuildings 2023-01-01 2023-12-31 NI605953 core:LeaseholdImprovements 2023-01-01 2023-12-31 NI605953 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI605953 countries:NorthernIreland 2023-01-01 2023-12-31 NI605953 core:LandBuildings 2022-12-31 NI605953 core:OtherPropertyPlantEquipment 2022-12-31 NI605953 2022-01-01 2022-12-31 NI605953 2022-12-31 NI605953 core:CurrentFinancialInstruments 2022-12-31 NI605953 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI605953 core:CurrentFinancialInstruments core:WithinOneYear core:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-12-31 NI605953 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 NI605953 core:Non-currentFinancialInstruments core:AfterOneYear core:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-12-31 NI605953 core:LandBuildings 2022-12-31 NI605953 core:OtherPropertyPlantEquipment 2022-12-31 NI605953 core:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-12-31 iso4217:GBP xbrli:pure

Registration number: NI605953

Dunloy Development Partnership

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Dunloy Development Partnership

(Registration number: NI605953)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

405,425

446,687

Current assets

 

Debtors

6

1,103

1,016

Cash at bank and in hand

 

7,967

12,434

 

9,070

13,450

Creditors: Amounts falling due within one year

7

(16,260)

(17,812)

Net current liabilities

 

(7,190)

(4,362)

Total assets less current liabilities

 

398,235

442,325

Creditors: Amounts falling due after more than one year

7

(716,054)

(729,163)

Net liabilities

 

(317,819)

(286,838)

Capital and reserves

 

Retained earnings

(317,819)

(286,838)

Shareholders' deficit

 

(317,819)

(286,838)

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Dunloy Development Partnership

(Registration number: NI605953)
Balance Sheet as at 31 December 2023

Approved and authorised by the Board on 19 June 2024 and signed on its behalf by:
 

.........................................
Mr John McLaughlin
Director

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Dunloy Development Partnership

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is limited by guarantee and is incorporated in Northern Ireland.

The address of its registered office is: 17 Bridge Road, Dunloy, Ballymena, Antrim, BT449AN.

These financial statements were authorised for issue by the Board on 19 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS102 (Charities SORP FRS102), the Charities Act 2011 and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention and the accruals basis.

Going concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the Diocese of Down and Connor who have undertaken not to call in the loan but will work with Dunloy Development Partnership on timing of payments subject to cashflows.

If the going concern basis were not appropriate adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Rental income
Rental income represents total rental income accrued for the accounting period.

Government grants

Government grants received are credited to deferred income. Grant towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

 

Dunloy Development Partnership

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

2.5% straight line

Public benefit entity
Dunloy Development Partnership meets the definition of a public benefit entity under the Charities SORP FRS102.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Dunloy Development Partnership

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Taxation

The Inland Revenue having accepted that the Dunloy Development Partnership is a charity for tax purposes, all income and gains are exempt from tax, provided they are only applied for charitable purpose. Charitable status was granted on 22nd August 2012 and was effected from 28th January 2011 under HMRC reference XT35533.

5

Tangible assets

Leasehold property improvements
£

Other property, plant and equipment
 £

Cost or valuation

At 1 January 2023

853,637

-

Additions

-

1,620

At 31 December 2023

853,637

1,620

Depreciation

At 1 January 2023

406,950

-

Charge for the year

42,682

200

At 31 December 2023

449,632

200

Carrying amount

At 31 December 2023

404,005

1,420

At 31 December 2022

446,687

-


 

6

Debtors

Current

2023
£

2022
£

Trade debtors

1,103

1,016

 

1,103

1,016

 

Dunloy Development Partnership

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

3,051

4,603

Deferred capital grant

 

13,209

13,209

 

16,260

17,812

Due after one year

 

Deferred income

 

107,393

120,602

Other creditors

 

608,661

608,561

 

716,054

729,163

Other creditors include the balance owed to the Diocese of Down and Connor of £608,661 (2022: £608,561). The amount increased during the year by £100 for rent owed.

8

Commitments

Lease commitments

Dunloy Development Partnership entered into a 25 year lease commencing on 1st June 2012 and ending on 30th May 2037 for a nominal rent of £100 per annum. The landlord is the Diocese of Down and Connor Trust, registered address Lisbreen, 73 Somerton Road, Belfast. Dunloy Development Partnership are responsible for the insurance of the building, its contents, public liability indemnity and employers liability.

9

Related party transactions

The Diocese of Down and Connor is regarded as a related party. The balance owed to the Diocese and movement in the balance is disclosed at note 7.

10

Company limited by guarantee

The Company is limited by guarantee and therefore has no shares.