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Company No: NI060682 (Northern Ireland)

ASHMOUR HOMES LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

ASHMOUR HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

ASHMOUR HOMES LTD

BALANCE SHEET

AS AT 31 MARCH 2024
ASHMOUR HOMES LTD

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,124 104
1,124 104
Current assets
Stocks 2,636,166 3,376,959
Debtors 4 71,034 58,230
Cash at bank and in hand 385,919 7,948
3,093,119 3,443,137
Creditors: amounts falling due within one year 5 ( 388,458) ( 738,329)
Net current assets 2,704,661 2,704,808
Total assets less current liabilities 2,705,785 2,704,912
Net assets 2,705,785 2,704,912
Capital and reserves
Called-up share capital 6 1,600,221 1,600,221
Share premium account 1,387,364 1,387,364
Profit and loss account ( 281,800 ) ( 282,673 )
Total shareholder's funds 2,705,785 2,704,912

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ashmour Homes Ltd (registered number: NI060682) were approved and authorised for issue by the Director on 27 March 2025. They were signed on its behalf by:

A L Stewart
Director
ASHMOUR HOMES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
ASHMOUR HOMES LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ashmour Homes Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Northern Ireland. The address of the Company's registered office is 245 Hillhall Road, Lisburn, BT27 5JQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has made losses in the previous years. The Company is supported through loans from the director and other related parties. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Furthermore, related parties have confirmed they will not seek repayment of the loan until the company is in a position to do so. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, the directors conclude it is appropriate to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises amounts receivable from the sale of land and buildings.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost or valuation of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 - 10 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases


The Company as lessor
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and bank balances, are initially measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 15,107 15,107
Additions 1,188 1,188
At 31 March 2024 16,295 16,295
Accumulated depreciation
At 01 April 2023 15,003 15,003
Charge for the financial year 168 168
At 31 March 2024 15,171 15,171
Net book value
At 31 March 2024 1,124 1,124
At 31 March 2023 104 104

4. Debtors

2024 2023
£ £
Other debtors 71,034 58,230

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 388,458 738,329

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
221 Ordinary shares of £ 1.00 each 221 221
1,600,000 Redeemable Preference shares of £ 1.00 each 1,600,000 1,600,000
1,600,221 1,600,221

7. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Amounts owed to key management personnel 101,796 165,617

Other related party transactions

2024 2023
£ £
Amounts owed to other related parties 274,411 559,131

The loans are interest free, unsecured and repayable on demand. However, as referenced in note 1, the related parties and director have confirmed that they will not seek repayment of the debt at the detriment of other creditors.