0 18 December 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,600,000 4,600,000 4,600,000 xbrli:pure xbrli:shares iso4217:GBP NI063627 2023-07-01 2024-06-30 NI063627 2024-06-30 NI063627 2023-06-30 NI063627 2022-07-01 2023-06-30 NI063627 2023-06-30 NI063627 2022-06-30 NI063627 bus:Director2 2023-07-01 2024-06-30 NI063627 core:WithinOneYear 2024-06-30 NI063627 core:WithinOneYear 2023-06-30 NI063627 core:AfterOneYear 2024-06-30 NI063627 core:AfterOneYear 2023-06-30 NI063627 core:ShareCapital 2024-06-30 NI063627 core:ShareCapital 2023-06-30 NI063627 core:RetainedEarningsAccumulatedLosses 2024-06-30 NI063627 core:RetainedEarningsAccumulatedLosses 2023-06-30 NI063627 core:LandBuildings 2024-06-30 NI063627 core:LandBuildings 2023-06-30 NI063627 bus:SmallEntities 2023-07-01 2024-06-30 NI063627 bus:Audited 2023-07-01 2024-06-30 NI063627 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI063627 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI063627 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: NI063627
Ballyhampton Limited
Filleted Financial Statements
30 June 2024
Ballyhampton Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
4,600,000
4,600,000
Current assets
Debtors
5
474,480
785,800
Cash at bank and in hand
80,233
2,058
---------
---------
554,713
787,858
Creditors: amounts falling due within one year
6
272,507
201,780
---------
---------
Net current assets
282,206
586,078
------------
------------
Total assets less current liabilities
4,882,206
5,186,078
------------
------------
Net assets
4,882,206
5,186,078
------------
------------
Capital and reserves
Called up share capital
3,537,552
3,537,552
Profit and loss account
1,344,654
1,648,526
------------
------------
Shareholder funds
4,882,206
5,186,078
------------
------------
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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 18 December 2024 , and are signed on behalf of the board by:
C Kearney
Director
Company registration number: NI063627
Ballyhampton Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 8th Floor Bedford House, Bedford Street, Belfast, BT2 7FD.
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 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.
Investment property
The investment property was initially recorded at cost, which includes purchase price and any directly attributable expenditure.
The investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in the profit and loss,
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Tangible assets
Investment property
£
Cost
At 1 July 2023 and 30 June 2024
4,600,000
------------
Depreciation
At 1 July 2023 and 30 June 2024
------------
Carrying amount
At 30 June 2024
4,600,000
------------
At 30 June 2023
4,600,000
------------
The investment property was professionally valued in May 2023 by CBRE on the basis of an 'Open Market Valuation' methodology pursuant to the principles of the 'Red Book' valuations as stipulated by the Royal Institution of Chartered Surveyors. If the investment property had not been revalued it would have been included in the financial statements at 30 June 2024 at an historic cost of £12,313,501 (2023: £12,313,501).
5. Debtors
2024
2023
£
£
Trade debtors
12
12
Amounts owed by group undertakings
422,348
750,063
Prepayments and accrued income
50,730
Other debtors
1,390
35,725
---------
---------
474,480
785,800
---------
---------
The debtors above include the following amounts falling due after more than one year:
2024
2023
£
£
Amounts owed by group undertakings
422,348
750,063
---------
---------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
54,258
9,347
Amounts owed to related undertakings
181,149
152,124
Accruals and deferred income
37,100
40,309
---------
---------
272,507
201,780
---------
---------
The company has provided security for certain borrowings of its intermediate parent company Kilmona Investments Limited. The security is by way of charges and inter-company guarantees.
7. Summary audit opinion
The auditor's report dated 18 December 2024 was unqualified .
The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Chartered Accountants .
8. Related party transactions
Control The company is a wholly owned subsidiary of Kilmona Property Limited, a company incorporated in Northern Ireland, which is a wholly owned subsidiary of Kilmona Investments Limited, a company incorporated in Northern Ireland. Kilmona Group Limited, a company incorporated in Northern Ireland, owns the entire issued share capital of Kilmona Investments Limited. P Kearney is the shareholder of Kilmona Group Limited and as such is considered to be the company's ultimate controlling party. Transactions As the company is a wholly owned subsidiary and consolidated financial statements have been prepared which are publicly available, advantage has been taken of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures. During the year a related party under common control of the directors collected rents and service charges on behalf of the company. At 30 June 2024, a balance of £181,149 (2023: £152,124) was owed by the company.
9. Controlling party
Kilmona Group Limited is the company's ultimate parent company. Copies of consolidated financial statements may be obtained from 8th Floor Bedford House, Bedford Street, Belfast, BT2 7FD .