0 18 December 2024 false false false false true 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 100 100 100 xbrli:pure xbrli:shares iso4217:GBP NI056038 2023-07-01 2024-06-30 NI056038 2024-06-30 NI056038 2023-06-30 NI056038 2022-07-01 2023-06-30 NI056038 2023-06-30 NI056038 2022-06-30 NI056038 core:Subsidiary1 2023-07-01 2024-06-30 NI056038 bus:RegisteredOffice 2023-07-01 2024-06-30 NI056038 bus:LeadAgentIfApplicable 2023-07-01 2024-06-30 NI056038 bus:Agent1 2023-07-01 2024-06-30 NI056038 bus:Director2 2023-07-01 2024-06-30 NI056038 bus:Director6 2023-07-01 2024-06-30 NI056038 core:WithinOneYear 2024-06-30 NI056038 core:WithinOneYear 2023-06-30 NI056038 core:ShareCapital 2024-06-30 NI056038 core:ShareCapital 2023-06-30 NI056038 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 NI056038 core:Non-currentFinancialInstruments 2024-06-30 NI056038 core:Non-currentFinancialInstruments 2023-06-30 NI056038 bus:SmallEntities 2023-07-01 2024-06-30 NI056038 bus:Audited 2023-07-01 2024-06-30 NI056038 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 NI056038 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI056038 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: NI056038
Kilmona Private Equity Limited
Filleted Financial Statements
30 June 2024
Kilmona Private Equity Limited
Financial Statements
Year ended 30 June 2024
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3 to 5
Kilmona Private Equity Limited
Officers and Professional Advisers
The board of directors
P Kearney
C Kearney
Registered office
8th Floor Bedford House
Bedford Street
Belfast
BT2 7FD
Auditor
Maneely Mc Cann Chartered Accountants
Chartered Accountants & Statutory Auditors
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
Bankers
Danske Bank Ltd
353 Lisburn Road
Belfast
BT9 7EP
Starwood Property Mortgage Sub-22-A L.L.C.
1601 Washington Avenue
Suite 800
Miami Beach
FL33139
United States of America
Solicitors
DWF (Northern Ireland) LLP
Jefferson House
42 Queen Street
Belfast
BT1 6HL
Kilmona Private Equity Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Investments
4
100
100
Current assets
Debtors
5
1
1
Creditors: amounts falling due within one year
6
100
100
----
----
Net current liabilities
99
99
----
----
Total assets less current liabilities
1
1
----
----
Capital and reserves
Called up share capital
1
1
----
----
Shareholder funds
1
1
----
----
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: NI056038
Kilmona Private Equity 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.
Consolidation
The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under UK law.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. 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. 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. Investments Fixed asset investments are stated at cost less provision for permanent diminution in value.
4. Investments
Shares in group undertakings
£
Cost
At 1 July 2023 and 30 June 2024
100
----
Impairment
At 1 July 2023 and 30 June 2024
----
Carrying amount
At 30 June 2024
100
----
At 30 June 2023
100
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Lanyon Place Limited
Ordinary
100
Kilmona Private Equity Limited holds 100% of the ordinary share capital of Lanyon Place Limited, a company incorporated in Northern Ireland.
5. Debtors
2024
2023
£
£
Other debtors
1
1
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
100
100
----
----
The company has provided security in the form of charges for certain borrowings of group companies .
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
Transactions The company has taken advantage 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.