Kilcoo Regeneration Group Limited NI685847 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is community development group Digita Accounts Production Advanced 6.30.9574.0 true true NI685847 2023-04-01 2024-03-31 NI685847 2024-03-31 NI685847 core:CurrentFinancialInstruments 2024-03-31 NI685847 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI685847 core:Non-currentFinancialInstruments 2024-03-31 NI685847 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 NI685847 core:FurnitureFittingsToolsEquipment 2024-03-31 NI685847 core:LandBuildings 2024-03-31 NI685847 bus:SmallEntities 2023-04-01 2024-03-31 NI685847 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI685847 bus:FilletedAccounts 2023-04-01 2024-03-31 NI685847 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI685847 bus:RegisteredOffice 2023-04-01 2024-03-31 NI685847 bus:Director1 2023-04-01 2024-03-31 NI685847 bus:Director2 2023-04-01 2024-03-31 NI685847 bus:Director3 2023-04-01 2024-03-31 NI685847 bus:Director4 2023-04-01 2024-03-31 NI685847 bus:Director5 2023-04-01 2024-03-31 NI685847 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 NI685847 core:FurnitureFittings 2023-04-01 2024-03-31 NI685847 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI685847 core:LandBuildings 2023-04-01 2024-03-31 NI685847 countries:AllCountries 2023-04-01 2024-03-31 NI685847 2022-02-15 2023-03-31 NI685847 2023-03-31 NI685847 core:CurrentFinancialInstruments 2023-03-31 NI685847 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI685847 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-03-31 NI685847 core:Non-currentFinancialInstruments 2023-03-31 NI685847 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI685847 core:Non-currentFinancialInstruments core:AfterOneYear core:PreviouslyStatedAmount 2023-03-31 NI685847 core:PreviouslyStatedAmount 2023-03-31 iso4217:GBP xbrli:pure

Registration number: NI685847

Kilcoo Regeneration Group Limited

(A company limited by guarantee)

Filleted Financial Statements

for the Year Ended 31 March 2024

 

Kilcoo Regeneration Group Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Kilcoo Regeneration Group Limited

Company Information

Directors

Roger Morgan

Mabel McCarthy

John Devlin

Andrina Fettes

Gabrielle Fitzpatrick

Registered office

8 Drumena Road
Kilcoo
Co Down
BT34 5JU

 

Kilcoo Regeneration Group Limited

(Registration number: NI685847)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

335,829

-

Current assets

 

Cash at bank and in hand

 

81,756

83,995

Creditors: Amounts falling due within one year

(20,640)

(733)

Net current assets

 

61,116

83,262

Total assets less current liabilities

 

396,945

83,262

Creditors: Amounts falling due after more than one year

(131,218)

-

Net assets

 

265,727

83,262

Reserves

 

Retained earnings

265,727

83,262

Surplus

 

265,727

83,262

For the financial year ending 31 March 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.

 

Kilcoo Regeneration Group Limited

(Registration number: NI685847)
Balance Sheet as at 31 March 2024

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 17 October 2024 and signed on its behalf by:
 

.........................................
Roger Morgan
Director

.........................................
Mabel McCarthy
Director

 

Kilcoo Regeneration Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a company limited by guarantee, incorporated in United Kingdom , and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.

The address of its registered office is:
8 Drumena Road
Kilcoo
Co Down
BT34 5JU

These financial statements were authorised for issue by the Board on 17 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.

 

Kilcoo Regeneration Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Land & buildings

2% Straight line

Fixtures & fittings

20% Straight line

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 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Kilcoo Regeneration Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

Additions

330,000

11,440

341,440

At 31 March 2024

330,000

11,440

341,440

Depreciation

Charge for the year

4,950

661

5,611

At 31 March 2024

4,950

661

5,611

Carrying amount

At 31 March 2024

325,050

10,779

335,829

Included within the net book value of land and buildings above is £325,050 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

6

19,440

-

Other creditors

 

1,200

733

 

20,640

733

Due after one year

 

Loans and borrowings

6

131,218

-

 

Kilcoo Regeneration Group Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

131,218

-

Current loans and borrowings

2024
£

2023
£

Bank borrowings

19,440

-