Killeter Limited NI019912 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is providing management services and property investment Digita Accounts Production Advanced 6.30.9574.0 true NI019912 2023-03-01 2024-02-29 NI019912 2024-02-29 NI019912 bus:OrdinaryShareClass1 2024-02-29 NI019912 core:CurrentFinancialInstruments 2024-02-29 NI019912 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 NI019912 bus:SmallEntities 2023-03-01 2024-02-29 NI019912 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 NI019912 bus:FilletedAccounts 2023-03-01 2024-02-29 NI019912 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 NI019912 bus:RegisteredOffice 2023-03-01 2024-02-29 NI019912 bus:Director1 2023-03-01 2024-02-29 NI019912 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 NI019912 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 NI019912 countries:NorthernIreland 2023-03-01 2024-02-29 NI019912 2023-02-28 NI019912 2022-03-01 2023-02-28 NI019912 2023-02-28 NI019912 bus:OrdinaryShareClass1 2023-02-28 NI019912 core:CurrentFinancialInstruments 2023-02-28 NI019912 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI019912

Killeter Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Killeter Limited

(Registration number: NI019912)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

842,609

842,609

Current assets

 

Stocks

116,761

116,761

Debtors

5

-

1,407

Cash at bank and in hand

 

408

1,363

 

117,169

119,531

Creditors: Amounts falling due within one year

6

(240,543)

(248,271)

Net current liabilities

 

(123,374)

(128,740)

Total assets less current liabilities

 

719,235

713,869

Provisions for liabilities

(6,482)

(6,482)

Net assets

 

712,753

707,387

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

219,182

219,182

Retained earnings

493,471

488,105

Shareholders' funds

 

712,753

707,387

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Killeter Limited

(Registration number: NI019912)
Balance Sheet as at 29 February 2024

Approved and authorised by the director on 4 November 2024
 

.........................................
Mr William Douglas Stevenson
Director

 

Killeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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: 10 Sanda Road, Newtownabbey, County Antrim, BT37 9UB.

These financial statements were authorised for issue by the director on 4 November 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.

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.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The values reflect observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Killeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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 the director) during the year, was 2 (2023 - 2).

 

Killeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Investment properties

2024
£

At 1 March 2021

842,609

The director valued the investment properties at £842,609 as at 29th February 2024. The historical cost of these properties was £616,945.

5

Debtors

Current

2024
£

2023
£

Prepayments

-

1,407

 

-

1,407

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

983

3,962

Accruals

1,080

1,235

Other creditors

238,480

243,074

240,543

248,271

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Killeter Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

8

Related party transactions

The management charge is from a related party as follows:-

2024

2023

£

£

Stevenson and Reid

15,159

29,237


Included in other creditors is the following amount due to related parties:-

£

£

Director's loan account

237,944

242,561