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No description of principal activities is disclosed
2023-05-01
Sage Accounts Production 23.1 - FRS102_2023
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2024-04-30
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2024-04-30
NI054361
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2024-04-30
NI054361
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2024-04-30
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2024-04-30
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2023-04-30
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2024-04-30
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2023-04-30
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Company registration number:
NI054361
DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Filleted financial statements
for the year to
30 April 2024
DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Directors and other information
|
|
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Directors |
William Dalzell |
|
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|
Ryan Goldblatt |
|
|
|
Ciaran O'Kane |
|
|
|
Sajjad Shan |
|
|
|
Richard Orr |
|
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|
Anita Brown |
(Resigned 16 August 2024) |
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Secretary |
George Laing |
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Company number |
NI054361 |
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Registered office |
3rd Floor Montgomery House |
|
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Montgomery Street |
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Belfast |
|
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BT1 4NX |
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Business address |
3rd Floor Montgomery House |
|
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Montgomery Street |
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Belfast |
|
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BT1 4NX |
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Auditor |
McDaid McCullough Moore |
|
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28-32 Clarendon Street |
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Derry |
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BT48 7HD |
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DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Directors responsibilities statement
Year ended 30 April 2024
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Statement of financial position
30 April 2024
|
|
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2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
6 |
1,024,654 |
|
|
|
911,185 |
|
|
Cash at bank and in hand |
|
|
224,185 |
|
|
|
354,096 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,248,839 |
|
|
|
1,265,281 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
7 |
(
329,598) |
|
|
|
(
359,486) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
919,241 |
|
|
|
905,795 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
919,241 |
|
|
|
905,795 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
8 |
|
|
(
919,008) |
|
|
|
(
905,562) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
233 |
|
|
|
233 |
|
|
|
|
|
_______ |
|
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|
_______ |
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|
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Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
233 |
|
|
|
233 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
233 |
|
|
|
233 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
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 comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
31 January 2025
, and are signed on behalf of the board by:
Ciaran O'Kane
Director
Company registration number:
NI054361
DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Statement of changes in equity
Year ended 30 April 2024
|
|
Called up share capital |
Profit and loss account |
Total |
|
|
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 May 2022 |
|
233 |
- |
233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
At 30 April 2023 and 1 May 2023 |
|
233 |
- |
233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the year |
|
|
- |
- |
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
Total comprehensive income for the year |
|
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
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|
|
At 30 April 2024 |
|
233 |
- |
233 |
|
|
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
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DONEGALL QUAY MANAGEMENT COMPANY LIMITED
Notes to the financial statements
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 3rd Floor Montgomery House, Montgomery Street, Belfast, BT1 4NX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Directors of Donegall Quay Management Company Limited have reviewed the resources available, including budgets and management accounts, and believe that the company will generate adequate resources and will continue in operational existence for the foreseeable future. Accordingly, Donegall Quay Management Company Limited continues to adopt the going concern basis in preparing the financial statements.
Judgements and key sources of estimation uncertainty
In the process of applying the company's accounting policies, management has not made any significant judgments. There are no key assumptions concerning the future or other key sources of estimation, that have a significant risk of raising a material adjustment to the carrying amounts of assets and liabilities within the financial year.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, net of discounts, Value Added Tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of Services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably;
and
- the costs incurred and the costs to complete the contract can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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 or 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.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more that 24 hours.
Creditors
Short term creditors are measured at transaction price.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
6
).
5.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
|
|
|
|
2024 |
2023 |
|
|
|
|
£ |
£ |
|
Fees payable for the audit of the financial statements |
|
|
4,860 |
4,860 |
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
6.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
640,636 |
659,590 |
|
Legal and professional fees recoverable |
|
368,559 |
217,486 |
|
Other debtors |
|
15,459 |
34,109 |
|
|
|
_______ |
_______ |
|
|
|
1,024,654 |
911,185 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade creditors |
|
300,367 |
319,406 |
|
Other creditors |
|
29,231 |
40,080 |
|
|
|
_______ |
_______ |
|
|
|
329,598 |
359,486 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Deferred Income - Sinking Fund (See below) |
|
68,694 |
55,248 |
|
Deferred Income - Major Works for EWS1 Certification |
|
850,314 |
850,314 |
|
|
|
_______ |
_______ |
|
|
|
919,008 |
905,562 |
|
|
|
_______ |
_______ |
|
|
|
|
|
Deferred Income - Sinking Fund
Balance as at 1 May
55,248
55,688
Transfers to Sinking Fund
27,639
35,000
Released against Repairs and Maintenance
(14,193)
(35,440)
_______
|
_______
|
68,694
55,248
_______
|
_______
|
9.
Called up share capital
Issued and called up
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
233 |
|
233 |
|
233 |
|
233 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
10.
Summary audit opinion
The auditor's report dated
31 January 2025
was unqualified.
The senior statutory auditor was
Terence McCullough
for and on behalf of
McDaid McCullough Moore