BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the development of building projects. 26 November 2024 2 2 NI678837 2024-04-30 NI678837 2023-04-30 NI678837 2022-04-30 NI678837 2023-05-01 2024-04-30 NI678837 2022-05-01 2023-04-30 NI678837 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI678837 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI678837 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI678837 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI678837 uk-bus:Director1 2023-05-01 2024-04-30 NI678837 uk-bus:Director2 2023-05-01 2024-04-30 NI678837 uk-bus:RegisteredOffice 2023-05-01 2024-04-30 NI678837 uk-bus:Agent1 2023-05-01 2024-04-30 NI678837 uk-core:ShareCapital 2024-04-30 NI678837 uk-core:ShareCapital 2023-04-30 NI678837 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI678837 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI678837 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI678837 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI678837 uk-bus:FRS102 2023-05-01 2024-04-30 NI678837 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI678837 uk-core:CurrentFinancialInstruments 2024-04-30 NI678837 uk-core:CurrentFinancialInstruments 2023-04-30 NI678837 uk-core:WithinOneYear 2024-04-30 NI678837 uk-core:WithinOneYear 2023-04-30 NI678837 2023-05-01 2024-04-30 NI678837 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI678837
 
 
Roslyn Developments Limited
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024
Roslyn Developments Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Michael Hannath
Mr. Roderick Joyce
 
 
Company Registration Number NI678837
 
 
Registered Office and Business Address 5a Stewart Avenue
Portadown
Co. Armagh
BT63 5DA
Northern Ireland
 
 
Accountants MG accountants
(Portadown)
25-27 Carleton Street
Portadown
Co. Armagh
BT62 3EP
Northern Ireland
 
 
Bankers Bank of Ireland
  13 Market Street
  Lurgan
  Co. Armagh
  BT66 6AR
  Northern Ireland



Roslyn Developments Limited
Company Registration Number: NI678837
BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 6,386 6,859
───────── ─────────
 
Current Assets
Stocks 6 1,048,696 950,400
Debtors 7 29,632 47,593
Cash and cash equivalents 8,735 9,769
───────── ─────────
1,087,063 1,007,762
───────── ─────────
Creditors: amounts falling due within one year 8 (860,621) (979,120)
───────── ─────────
Net Current Assets 226,442 28,642
───────── ─────────
Total Assets less Current Liabilities 232,828 35,501
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 232,826 35,499
───────── ─────────
Equity attributable to owners of the company 232,828 35,501
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 26 November 2024 and signed on its behalf by
           
           
________________________________          
Mr. Michael Hannath          
Director          
           



Roslyn Developments Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
Roslyn Developments Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI678837. The registered office of the company is 5a Stewart Avenue, Portadown, Co. Armagh, BT63 5DA, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is the development of building projects. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 April 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 10% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Work in Progress is valued at cost. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The comparative figures relate to the  month period ended 30 April 2023.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
 
  2024 2023
  Number Number
 
Directors 2 2
  ═════════ ═════════
       
5. Tangible assets
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 May 2023 8,471 8,471
Additions 416 416
  ───────── ─────────
At 30 April 2024 8,887 8,887
  ───────── ─────────
Depreciation
At 1 May 2023 1,612 1,612
Charge for the financial year 889 889
  ───────── ─────────
At 30 April 2024 2,501 2,501
  ───────── ─────────
Net book value
At 30 April 2024 6,386 6,386
  ═════════ ═════════
At 30 April 2023 6,859 6,859
  ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Work in progress 1,048,696 950,400
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Other debtors 28,138 43,338
Taxation  (Note 9) 1,494 4,255
  ───────── ─────────
  29,632 47,593
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Fairhouse Developments Loan 469,371 770,772
Trade creditors 1,037 11,495
Amounts owed to group undertakings 198,335 133,785
Taxation  (Note 9) 65,987 6,886
Accruals 125,891 56,182
  ───────── ─────────
  860,621 979,120
  ═════════ ═════════
       
9. Taxation 2024 2023
  £ £
 
Debtors:
VAT 1,494 4,255
  ═════════ ═════════
Creditors:
Corporation tax 65,987 6,886
  ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 April 2024.
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.