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Company Registration No. 00537798 (England and Wales)
Ballymena Property Co. Limited Unaudited accounts for the year ended 29 March 2024
Ballymena Property Co. Limited Unaudited accounts Contents
Page
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Ballymena Property Co. 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
00537798 (England and Wales)
Registered Office
115 Mount Street London W1K 3NQ
Accountants
THE UNCOMMON ACCOUNTANTS LTD Unit 2g, Redwither Tower Redwither Business Park Wrexham LL13 9XT
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Ballymena Property Co. Limited Statement of financial position as at 29 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
1,215,000 
1,215,000 
Investments
178,903 
141,903 
1,393,903 
1,356,903 
Current assets
Debtors
8,250 
18,126 
Cash at bank and in hand
39,319 
36,445 
47,569 
54,571 
Creditors: amounts falling due within one year
(40,138)
(45,159)
Net current assets
7,431 
9,412 
Net assets
1,401,334 
1,366,315 
Capital and reserves
Called up share capital
1,500 
1,500 
Revaluation reserve
326,777 
326,777 
Profit and loss account
1,073,057 
1,038,038 
Shareholders' funds
1,401,334 
1,366,315 
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. 00537798
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Ballymena Property Co. Limited Notes to the Accounts for the year ended 29 March 2024
1
Statutory information
Ballymena Property Co. Limited is a private company, limited by shares, registered in England and Wales, registration number 00537798. The registered office is 115 Mount Street, London, W1K 3NQ.
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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Ballymena Property Co. 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
1,215,000 
At 29 March 2024
1,215,000 
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 £1,096,268 (2021 £1,096,268).
5
Investments
Other investments 
£ 
Valuation at 30 March 2023
141,903 
Additions
61,131 
Fair value adjustments
6,234 
Disposals
(30,365)
Valuation at 29 March 2024
178,903 
In respect of the listed investments stated at market value, the comparable historical costs are £147,142 (2021 £138,117).
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
8,250 
11,957 
Accrued income and prepayments
- 
5,844 
Other debtors
- 
325 
8,250 
18,126 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
794 
1,038 
Trade creditors
(5)
4,614 
Taxes and social security
15,612 
12,780 
Accruals
23,737 
26,727 
40,138 
45,159 
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Ballymena Property Co. Limited Notes to the Accounts for the year ended 29 March 2024
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1,500 Ordinary shares of £1 each
1,500 
1,500 
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).
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