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No description of principal activity
2023-06-30
Sage Accounts Production Advanced 2024 - FRS102_2024
7,000
7,000
7,000
7,000
xbrli:pure
xbrli:shares
iso4217:GBP
NI631623
2023-06-30
2024-06-29
NI631623
2024-06-29
NI631623
2023-06-29
NI631623
2022-06-30
2023-06-29
NI631623
2023-06-29
NI631623
2022-06-29
NI631623
bus:OrdinaryShareClass1
2023-06-30
2024-06-29
NI631623
bus:Director1
2023-06-30
2024-06-29
NI631623
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-06-29
NI631623
core:WithinOneYear
2024-06-29
NI631623
core:WithinOneYear
2023-06-29
NI631623
core:AfterOneYear
2024-06-29
NI631623
core:AfterOneYear
2023-06-29
NI631623
core:ShareCapital
2024-06-29
NI631623
core:ShareCapital
2023-06-29
NI631623
core:RetainedEarningsAccumulatedLosses
2024-06-29
NI631623
core:RetainedEarningsAccumulatedLosses
2023-06-29
NI631623
core:CostValuation
core:Non-currentFinancialInstruments
2023-06-29
NI631623
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-06-29
NI631623
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2023-06-29
NI631623
core:DisposalsDecreaseInProvisionsForImpairmentInvestments
core:Non-currentFinancialInstruments
2024-06-29
NI631623
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-06-29
NI631623
bus:SmallEntities
2023-06-30
2024-06-29
NI631623
bus:AuditExemptWithAccountantsReport
2023-06-30
2024-06-29
NI631623
bus:SmallCompaniesRegimeForAccounts
2023-06-30
2024-06-29
NI631623
bus:PrivateLimitedCompanyLtd
2023-06-30
2024-06-29
NI631623
bus:FullAccounts
2023-06-30
2024-06-29
NI631623
bus:OrdinaryShareClass1
2024-06-29
NI631623
bus:OrdinaryShareClass1
2023-06-29
COMPANY REGISTRATION NUMBER:
NI631623
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
29 June 2024
Fixed assets
Tangible assets |
4 |
337,050 |
337,198 |
|
|
|
|
Current assets
Debtors |
6 |
20,645 |
20,645 |
Cash at bank and in hand |
14,354 |
117,851 |
|
-------- |
--------- |
|
34,999 |
138,496 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
141,782 |
255,710 |
|
--------- |
--------- |
Net current liabilities |
106,783 |
117,214 |
|
--------- |
--------- |
Total assets less current liabilities |
230,267 |
219,984 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
117,927 |
139,973 |
|
--------- |
--------- |
Net assets |
112,340 |
80,011 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
9 |
10 |
10 |
Profit and loss account |
112,330 |
80,001 |
|
--------- |
-------- |
Shareholders funds |
112,340 |
80,011 |
|
--------- |
-------- |
|
|
|
|
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.
For the year ending 29 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
29 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 March 2025
, and are signed on behalf of the board by:
Company registration number:
NI631623
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 29 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 13 Fifth Ave, Bangor, BT20 5JP, Northern Ireland.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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 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 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.
4.
Tangible assets
|
Freehold property |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 30 June 2023 and 29 June 2024 |
337,050 |
|
337,494 |
|
--------- |
---- |
--------- |
Depreciation |
|
|
|
At 30 June 2023 |
– |
|
296 |
Charge for the year |
– |
|
148 |
|
--------- |
---- |
--------- |
At 29 June 2024 |
– |
|
444 |
|
--------- |
---- |
--------- |
Carrying amount |
|
|
|
At 29 June 2024 |
337,050 |
– |
337,050 |
|
--------- |
---- |
--------- |
At 29 June 2023 |
337,050 |
|
337,198 |
|
--------- |
---- |
--------- |
|
|
|
|
The director has not obtained a professional valuation for investment properties as at 30 June 2017 since the valuation has not changed materially since acquisition.
5.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 30 June 2023 |
7,000 |
Disposals |
(
7,000) |
|
------- |
At 29 June 2024 |
– |
|
------- |
Impairment |
|
At 30 June 2023 |
7,000 |
Disposals |
(
7,000) |
|
------- |
At 29 June 2024 |
– |
|
------- |
|
|
Carrying amount |
|
At 29 June 2024 |
– |
|
------- |
At 29 June 2023 |
– |
|
------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
20,645 |
20,645 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
12,007 |
18,217 |
Corporation tax |
8,167 |
6,533 |
Amounts owed to group undertakings |
|
|
Other creditors |
14,358 |
123,710 |
|
--------- |
--------- |
|
141,782 |
255,710 |
|
--------- |
--------- |
|
|
|
Bank loans are secured by a fixed and floating charge over the freehold and leasehold property of the company.
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
117,927 |
139,973 |
|
--------- |
--------- |
|
|
|
Bank loans are secured by a fixed and floating charge over the freehold and leasehold property of the company.
9.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
10 |
10 |
10 |
10 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Director's advances, credits and guarantees
All transactions with directors are disclosed in related party note below.
11.
Related party transactions
During the year, the company was under the control of
Mr R Smith
and Mr M Smith as joint shareholders. During the year, net loans of £109,352 were repaid to directors (2023: £45,200). The balance of £12,438 (2023: £121,790) remained owed to the directors at the balance sheet date. Loans are interest free and repayable on demand. The company is related to Zakani Limited by virtue of a common director, Mr R Smith
. During the year, the company received £Nil net loans from Zakani Limited (2023: £Nil). The balance of £107,250 (2023: £107,250) remained owing at the balance sheet date. Loans are interest free and repayable on demand. The company is related to Dunluce Healthcare Bangor Ltd by virtue of common director, Mr R Smith
. During the year, the company received Nil net loans (2023: £Nil). The balance of £20,645 (2023:£20,645)remained owed to the the company at the balance sheet date. Loans are interest free and repayable on demand.