REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
30 September 2024 |
for |
Lygala Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended |
30 September 2024 |
for |
Lygala Limited |
Lygala Limited (Registered number: NI047735) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lygala Limited |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Rathmore House |
52 St Patricks Avenue |
Downpatrick |
Co. Down |
BT30 6DS |
Lygala Limited (Registered number: NI047735) |
Abridged Balance Sheet |
30 September 2024 |
30/9/24 | 30/9/23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 5 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lygala Limited (Registered number: NI047735) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Lygala Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover shown in the profit and loss account represents amounts invoiced during the year. |
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. |
Investment property |
Investment properties are valued at open market value. In accordance with Statement of Standard Accounting Practice 19 no amortisation or depreciation is provided in respect of investment properties. The directors consider that this accounting policy, which represents a departure from the statutory accounting rules, is necessary to provide a true and fair view. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1 October 2023 |
Revaluations |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Cost or valuation at 30 September 2024 is represented by: |
Totals |
£ |
Valuation in 2017 | 347 |
Valuation in 2024 | 264,134 |
Cost | 615,519 |
880,000 |
Lygala Limited (Registered number: NI047735) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
4. | TANGIBLE FIXED ASSETS - continued |
If Investment Properties had not been revalued they would have been included at the following historical cost: |
30/9/24 | 30/9/23 |
£ | £ |
Cost | 615,519 | 615,519 |
Value of land in freehold land and buildings | 615,519 | 615,519 |
Investment properties were valued on an open market basis on 30 September 2024 by the Director. . |
5. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 October 2023 |
Reserve Transfer | 264,134 |
At 30 September 2024 |
6. | RELATED PARTY TRANSACTIONS |
The company was under the control of Mr & Mrs Flynn throughout the current and previous year. |
Mr Flynn also controls Karyhill Properties Ltd. During the year Lygala Ltd repaid £26,400 to Karyhill Properties Ltd. |
There were amounts due to Karyhill Properties Ltd of £83,388 at the year end (2023: £109,789). |