Adair Homes Ltd |
Notes to the Accounts |
for the year ended 31 March 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Consolidation |
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In the opinion of the director, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
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Cash flow statement |
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The director has taken advantage of the exemption in FRS 102 from including a cash flow statement in the financial statements on the grounds that the company is small. |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Investments |
Investments in |
subsidiary |
undertakings |
£ |
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Cost |
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At 1 April 2023 |
1,000 |
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At 31 March 2024 |
1,000 |
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The company owns 100% of the issued share capital of the following companies:- |
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Country of |
Class of |
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registration/ |
shares |
Capital and |
Profit for |
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Company |
incorporation |
held |
reserves |
the year |
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Property Zoo Ltd |
N Ireland |
Ordinary |
3,578,328 |
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56,201 |
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Under the provisions of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so. Therefore, these accounts show information about the company as an individual entity. |
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4 |
Related party transactions |
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Adair Homes Ltd acquired 100% of the issued share capital of Property Zoo Ltd on 28 September 2018. |
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Mr G Adair is the majority shareholder in Adair Homes Ltd. As a result, Property Zoo Ltd was under the ultimate control of Mr G Adair throughout the current year. |
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5 |
Other information |
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Adair Homes Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
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42 Old Belfast Road |
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Saintfield |
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County Down |
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BT24 7DG |