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Company Registration No. NI669862 (Northern Ireland)
Abercorn Consultancy Ltd Unaudited accounts for the year ended 31 May 2024
Abercorn Consultancy Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
188 
358 
Investment property
95,000 
90,504 
95,188 
90,862 
Current assets
Investments
85,615 
60,000 
Cash at bank and in hand
11,729 
29,099 
97,344 
89,099 
Creditors: amounts falling due within one year
(2,073)
(2,806)
Net current assets
95,271 
86,293 
Net assets
190,459 
177,155 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
190,449 
177,145 
Shareholders' funds
190,459 
177,155 
For the year ending 31 May 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 director acknowledges his 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 and authorised for issue on 23 January 2025 and were signed on its behalf by
Michael McKee Director Company Registration No. NI669862
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Abercorn Consultancy Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Abercorn Consultancy Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI669862. The registered office is Apartment 4, 12 Abercorn Drive, Ballyclare, BT39 9AE, United Kingdom.
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.
Going concern
Having reviewed the resources available the director believes that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in the preparation of its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the rental of investment property is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Straight Line
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. 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.
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Abercorn Consultancy Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
848 
At 31 May 2024
848 
Depreciation
At 1 June 2023
490 
Charge for the year
170 
At 31 May 2024
660 
Net book value
At 31 May 2024
188 
At 31 May 2023
358 
5
Investment property
2024 
£ 
Fair value at 1 June 2023
90,504 
Net gain from fair value adjustments
4,496 
At 31 May 2024
95,000 
6
Investments held as current assets
2024 
2023 
£ 
£ 
Unlisted investments
85,615 
60,000 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
898 
862 
Accruals
1,175 
1,944 
2,073 
2,806 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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