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REGISTERED NUMBER: NI646622 (Northern Ireland)













INGLEBROOK HOLDINGS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 3

Notes to the Financial Statements 4


INGLEBROOK HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Mr P G Keenan



SECRETARY: Mrs P M Loughlin



REGISTERED OFFICE: Unit 1 Opus Business Park
35 Aughrim Road
Magherafelt
Co. Londonderry
BT45 6BB



REGISTERED NUMBER: NI646622 (Northern Ireland)



AUDITORS: McAleer Jackson Ltd
Chartered Accountants & Statutory Auditors
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
North Business Centre
1 - 2 Broadway
Ballymena
Co. Antrim
BT43 7AA




INGLEBROOK HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







SOLICITORS: Bernadette Mulholland
Solicitor
37 King Street
Magherafelt
Co Londonderry
BT45 6AR

INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 396,465 415,388
Investment property 5 710,000 604,778
1,106,465 1,020,166

CURRENT ASSETS
Debtors 6 708 39,124
Cash at bank 6,889,206 3,721,954
6,889,914 3,761,078
CREDITORS
Amounts falling due within one year 7 60,329 47,362
NET CURRENT ASSETS 6,829,585 3,713,716
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,936,050

4,733,882

PROVISIONS FOR LIABILITIES 26,306 -
NET ASSETS 7,909,744 4,733,882

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 7,909,544 4,733,682
SHAREHOLDERS' FUNDS 7,909,744 4,733,882

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2024 and were signed by:



Mr P G Keenan - Director


INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Inglebrook Holdings Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are shown in sterling, which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Other financial instruments
Other financial instruments not meeting the definition of Basic Financial Instruments are recognised
initially at fair value. Subsequent to initial recognition other financial instruments are measured at fair
value with changes recognised in profit or loss except as follows:

- investments in equity instruments that are not publicly traded and whose fair value cannot
otherwise be measured reliably shall be measured at cost less impairment.

Taxation
Taxation 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 in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.

Going concern
Given the current economic uncertainty, the directors have considered the extent to which these matters create uncertainty, particularly over the company’s future trading prospects and the availability of finance in the foreseeable future. The company has considerable financial resources and is in a strong net asset position. Therefore, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. FIXED ASSET INVESTMENTS

2024 2023
£ £

Financial assets designated at fair value through profit or loss 396,365 415,288
Shares in group undertakings 100 100
396,465 415,388

The company's investments are stated at fair value. During the year, investments were disposed of and a
gain of £19,150 (2023 Gain - £14,597) was recognised. Investments were purchased in year and a loss of £635 was recognised.

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Beam Vacuum Systems Limited
Registered office: Opus Business Park, 35 Aughrim Road, Magherafelt, BT45 6BB
Nature of business: Vacuum and Ventilation installation
%
Class of shares: holding
Ordinary 100.00

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 604,778
Revaluations 105,222
At 31 March 2024 710,000
NET BOOK VALUE
At 31 March 2024 710,000
At 31 March 2023 604,778

Investment property initially cost £787,000 and was previously revalued in 2020.
During the year, investment property has been subject to revaluation by SMG Property, Chartered Surveyor, independent valuer. A gain of £105,222 has been recognised.

INGLEBROOK HOLDINGS LIMITED (REGISTERED NUMBER: NI646622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 708 39,124

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 58,819 44,135
Other creditors 1,510 3,227
60,329 47,362

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

MICHAEL BARNETT (Senior Statutory Auditor)
for and on behalf of McAleer Jackson Ltd

9. CONTINGENT LIABILITIES

The directors are not aware of any contingencies at the year-end (2023 - none).

10. CAPITAL COMMITMENTS

The company’s contractual commitments at the end of the financial year were £Nil (2023 - £Nil).

11. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties at the date of the financial statements are regarded as Mr P E Keenan and Mrs M Keenan due to their majority shareholding. At the date of signing of the financial statements, it was Mr P G Keenan.