30 March 2023 false No description of principal activity Taxfiler 2024.6 NI005763business:PrivateLimitedCompanyLtd2023-03-302024-03-29 NI0057632023-03-29 NI0057632023-03-302024-03-29 NI005763business:AuditExempt-NoAccountantsReport2023-03-302024-03-29 NI005763business:FilletedAccounts2023-03-302024-03-29 NI0057632024-03-29 NI005763business:Director12023-03-302024-03-29 NI005763business:Director22023-03-302024-03-29 NI005763business:Director32023-03-302024-03-29 NI005763business:Director42023-03-302024-03-29 NI005763business:RegisteredOffice2023-03-302024-03-29 NI0057632023-03-29 NI005763core:WithinOneYear2024-03-29 NI005763core:WithinOneYear2023-03-29 NI005763core:ShareCapitalcore:PreviouslyStatedAmount2024-03-29 NI005763core:ShareCapitalcore:PreviouslyStatedAmount2023-03-29 NI005763core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-03-29 NI005763core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-03-29 NI005763core:PreviouslyStatedAmount2024-03-29 NI005763core:PreviouslyStatedAmount2023-03-29 NI005763business:SmallEntities2023-03-302024-03-29 NI005763countries:NorthernIreland2023-03-302024-03-29 NI005763core:AdditionsToInvestments2024-03-29 NI005763core:RevaluationsIncreaseDecreaseInInvestments2024-03-29 NI005763core:DisposalsRepaymentsInvestments2024-03-29 NI005763business:OrdinaryShareClass12023-03-302024-03-29 NI005763business:OrdinaryShareClass12022-03-302023-03-29 NI0057632022-03-302023-03-29 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. NI005763 (Northern Ireland)
Strabane Properties Limited Unaudited accounts for the year ended 29 March 2024
Strabane Properties Limited Unaudited accounts Contents
Page
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Strabane Properties Limited Company Information for the year ended 29 March 2024
Directors
G J Darell The Honourable K M Astor C V Adeane JRC Arkwright
Company Number
NI005763 (Northern Ireland)
Registered Office
C/O Crawford & Lockhart 7 -11 Linenhall Street Belfast BT2 8AH
Accountants
THE UNCOMMON ACCOUNTANTS LTD Unit 2g, Redwither Tower Redwither Business Park Wrexham LL13 9XT
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Strabane Properties Limited Statement of financial position as at 29 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
780,000 
780,000 
Investments
685,643 
584,214 
1,465,643 
1,364,214 
Current assets
Debtors
319 
(598)
Cash at bank and in hand
41,149 
66,771 
41,468 
66,173 
Creditors: amounts falling due within one year
(29,615)
(26,868)
Net current assets
11,853 
39,305 
Net assets
1,477,496 
1,403,519 
Capital and reserves
Called up share capital
18,000 
18,000 
Profit and loss account
1,459,496 
1,385,519 
Shareholders' funds
1,477,496 
1,403,519 
For the year ending 29 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 November 2024 and were signed on its behalf by
G J Darell Director Company Registration No. NI005763
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Strabane Properties Limited Notes to the Accounts for the year ended 29 March 2024
1
Statutory information
Strabane Properties Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI005763. The registered office is C/O Crawford & Lockhart, 7 -11 Linenhall Street, Belfast, BT2 8AH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. No depreciation is provided in respect of investment properties applying the fair value model. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value. Subsequently, they are measured at fair value through profit and loss if the shares are publicly traded or their fair value can otherwise be measure reliably. Other investments are measured at cost less impairment.
Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the income statement except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is directly in equity or other comprehensive income. Current tax is expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years
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Strabane Properties Limited Notes to the Accounts for the year ended 29 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Investment property
2024 
£ 
Fair value at 30 March 2023
780,000 
At 29 March 2024
780,000 
An independent professional revaluation of all investment properties, taking into account the open market conditions, was carried out as at 29 March 2019. In respect of the tangible fixed assets stated at valuations, the comparable historical cost value was £911,169 (2023 £911,169).
5
Investments
Other investments 
£ 
Valuation at 30 March 2023
584,214 
Additions
58,002 
Fair value adjustments
63,644 
Disposals
(20,217)
Valuation at 29 March 2024
685,643 
In respect of the listed investments stated at market value, the comparable historical costs are £441,932 (2022 £435,005).
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
319 
(598)
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
682 
682 
Taxes and social security
10,463 
6,981 
Other creditors
2,750 
2,750 
Accruals
1,553 
2,289 
Deferred income
14,167 
14,166 
29,615 
26,868 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
18,000 Ordinary shares of £1 each
18,000 
18,000 
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Strabane Properties Limited Notes to the Accounts for the year ended 29 March 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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