REGISTERED NUMBER: |
INGLEBROOK HOLDINGS LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
Church House |
24 Dublin Road |
OMAGH |
Co. Tyrone |
BT78 1HE |
BANKERS: |
North Business Centre |
1 - 2 Broadway |
Ballymena |
Co. Antrim |
BT43 7AA |
INGLEBROOK HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
SOLICITORS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
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 |
Revaluations | 105,222 |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
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 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
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. |