Company Registration No. NI669726 (Northern Ireland)
Eureka Property Solutions Ltd
Unaudited accounts
for the year ended 31 May 2024
Eureka Property Solutions Ltd
Unaudited accounts
Contents
Eureka Property Solutions Ltd
Company Information
for the year ended 31 May 2024
Company Number
NI669726 (Northern Ireland)
Registered Office
1 Bannvale
Coleraine
Londonderry
BT51 3JB
Accountants
SJK
8 Bridge Road
Moira
Co Armagh
BT67 0PF
Eureka Property Solutions Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
7,659
7,978
Investment property
160,148
154,295
Cash at bank and in hand
1,542
1,582
Creditors: amounts falling due within one year
(91,374)
(81,988)
Net current liabilities
(89,832)
(80,406)
Total assets less current liabilities
77,975
81,867
Creditors: amounts falling due after more than one year
(117,530)
(110,960)
Net liabilities
(39,555)
(29,093)
Called up share capital
1
1
Profit and loss account
(39,556)
(29,094)
Shareholders' funds
(39,555)
(29,093)
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 her 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 19 February 2025 and were signed on its behalf by
Mary J Kurth
Director
Company Registration No. NI669726
Eureka Property Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2024
Eureka Property Solutions Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI669726. The registered office is 1 Bannvale, Coleraine, Londonderry, BT51 3JB.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
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% reducing balance
Eureka Property Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2023
-
9,972
9,972
At 31 May 2024
1,276
9,972
11,248
At 1 June 2023
-
1,994
1,994
Charge for the year
-
1,595
1,595
At 31 May 2024
-
3,589
3,589
At 31 May 2024
1,276
6,383
7,659
At 31 May 2023
-
7,978
7,978
Fair value at 1 June 2023
154,295
6
Creditors: amounts falling due within one year
2024
2023
Loans from directors
88,662
81,388
7
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
117,530
110,960
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
81,389
12,717
5,444
88,662
81,389
12,717
5,444
88,662
The company owes £88,662 (2023: £81,389) to the directors at year end. These loans are repayable on demand and non-interest bearing.
Eureka Property Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).