COMPANY REGISTRATION NUMBER:
NI045132
Filleted Unaudited Financial Statements |
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Year ended 31st March 2024
Statement of financial position |
1 |
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Notes to the financial statements |
2 to 3 |
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Statement of Financial Position |
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31 March 2024
Capital and reserves
Called up share capital |
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2 |
2 |
Profit and loss account |
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(
2) |
(
2) |
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Shareholders funds |
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– |
– |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
5 November 2024
, and are signed on behalf of the board by:
Company registration number:
NI045132
Notes to the Financial Statements |
|
Year ended 31st March 2024
1.
General information
The company is a private company limited by shares, registered in Nothern Ireland. The address of the registered office is 43 Lockview Road, Belfast, BT9 5FJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with accounting standards generally accepted in the UK and UK Statue comprising the Companies Act 2006, and under the historical cost convention, modified to include the revaluation of certain fixed assets.
Going concern
The company has prepared its financial statements for the year ended 31 March 2021 on the going concern basis. The directors consider the going concern basis appropriate as the company is likely to continue in existence for the foreseeable future and has ongoing financial support from its shareholders.
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 transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Related party transactions
There were no transactions with related parties such as to be disclosed under FRS 102 Section 1A.
5.
Control
The directors consider P Byrne and
K Byrne
to be the controlling parties, by virtue of them together owning 100% of the issued share capital.