Malory Properties Limited NI603548 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is property owning for rental Digita Accounts Production Advanced 6.30.9574.0 true true NI603548 2023-07-01 2024-06-30 NI603548 2024-06-30 NI603548 core:CurrentFinancialInstruments 2024-06-30 NI603548 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 NI603548 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2024-06-30 NI603548 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 NI603548 core:LandBuildings 2024-06-30 NI603548 core:PreviouslyStatedAmount 2024-06-30 NI603548 bus:SmallEntities 2023-07-01 2024-06-30 NI603548 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 NI603548 bus:FilletedAccounts 2023-07-01 2024-06-30 NI603548 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI603548 bus:RegisteredOffice 2023-07-01 2024-06-30 NI603548 bus:CompanySecretaryDirector1 2023-07-01 2024-06-30 NI603548 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI603548 countries:NorthernIreland 2023-07-01 2024-06-30 NI603548 2023-06-30 NI603548 core:LandBuildings 2023-06-30 NI603548 2022-07-01 2023-06-30 NI603548 2023-06-30 NI603548 core:CurrentFinancialInstruments 2023-06-30 NI603548 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 NI603548 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 NI603548 core:LandBuildings 2023-06-30 iso4217:GBP xbrli:pure

Registration number: NI603548

Malory Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Malory Properties Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Malory Properties Limited

(Registration number: NI603548)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

833,849

833,849

Current assets

 

Debtors

5

50,107

26,252

Cash at bank and in hand

 

418,346

913,081

 

468,453

939,333

Creditors: Amounts falling due within one year

6

(316,608)

(817,329)

Net current assets

 

151,845

122,004

Total assets less current liabilities

 

985,694

955,853

Creditors: Amounts falling due after more than one year

6

(889,175)

(889,175)

Net assets

 

96,519

66,678

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

76,519

46,678

Shareholders' funds

 

96,519

66,678

For the financial year ending 30 June 2024 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.

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.

Approved and authorised by the Board on 8 October 2024 and signed on its behalf by:
 

.........................................
Mr Samuel Morrison
Company secretary and director

 

Malory Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
51-53 Thomas Street
Ballymena
Co. Antrim
BT43 6AZ
Northern Ireland

The principal place of business is:
5 Millenium Park,
Woodside Industrial Estate,
Woodside Rd
Ballymena
Co. Antrim
BT42 4QJ

These financial statements were authorised for issue by the Board on 8 October 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 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Malory Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Malory Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2023

833,849

833,849

At 30 June 2024

833,849

833,849

Depreciation

Carrying amount

At 30 June 2024

833,849

833,849

At 30 June 2023

833,849

833,849

Included within the net book value of land and buildings above is £833,849 (2023 - £833,849) in respect of freehold land and buildings.
 

 

Malory Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

debtors

2024
£

2023
£

Trade debtors

950

-

Prepayments

-

1,350

Other debtors

49,157

24,902

50,107

26,252

Current

2024
£

2023
£

Trade debtors

950

-

Prepayments

-

1,350

Other debtors

49,157

24,902

 

50,107

26,252

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

7

5,725

8,088

Accruals and deferred income

 

3,954

2,930

Other creditors

 

306,929

806,311

 

316,608

817,329

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

889,175

889,175

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,725

8,088