2023-04-012024-03-312024-03-31falseNI012442FOYLE VIEW BUILDERS 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FOYLE VIEW BUILDERS LIMITED

Registered Number
NI012442
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 March 2024

FOYLE VIEW BUILDERS LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Anne Marie Cregan
Kevin Cregan
Liam John Anthony Cregan

Company Secretary

William John Cregan

Registered Address

28,Griffith Park,
Culmore Road,
Londonderry
BT48 8PE

Registered Number

NI012442 (Northern Ireland)
FOYLE VIEW BUILDERS LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets34,982,8915,014,270
4,982,8915,014,270
Current assets
Stocks138,455271,336
Debtors71,884186,752
Cash at bank and on hand176,68449,818
387,023507,906
Creditors amounts falling due within one year(261,712)(352,951)
Net current assets (liabilities)125,311154,955
Total assets less current liabilities5,108,2025,169,225
Creditors amounts falling due after one year(1,711,416)(1,824,856)
Net assets3,396,7863,344,369
Capital and reserves
Called up share capital10,00210,002
Revaluation reserve1,351,2691,351,269
Profit and loss account2,035,5151,983,098
Shareholders' funds3,396,7863,344,369
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2024, and are signed on its behalf by:
Liam John Anthony Cregan
Director
Registered Company No. NI012442
FOYLE VIEW BUILDERS LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and machinery - 25% reducing balance Fixture and fittings - 10% straight line Office Equipment - 20% straight line Motor vehicles - 25% reducing balance
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year710
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 235,369,118
Disposals(43,916)
At 31 March 245,325,202
Depreciation and impairment
At 01 April 23354,848
Charge for year30,597
On disposals(43,134)
At 31 March 24342,311
Net book value
At 31 March 244,982,891
At 31 March 235,014,270