BrightAccountsProduction v1.0.0 v1.0.0 2023-07-24 The company was not dormant during the period The company was trading for the entire period The nature of the company's operations and its principal activities include the development of building projects, and buying and selling of own real estate 17 April 2025 1 NI699574 2024-12-31 NI699574 2023-07-23 NI699574 2023-07-24 2024-12-31 NI699574 uk-bus:PrivateLimitedCompanyLtd 2023-07-24 2024-12-31 NI699574 uk-curr:PoundSterling 2023-07-24 2024-12-31 NI699574 uk-bus:SmallCompaniesRegimeForAccounts 2023-07-24 2024-12-31 NI699574 uk-bus:FullAccounts 2023-07-24 2024-12-31 NI699574 uk-bus:AuditExemptWithAccountantsReport 2023-07-24 2024-12-31 NI699574 uk-core:ShareCapital 2024-12-31 NI699574 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI699574 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI699574 uk-bus:FRS102 2023-07-24 2024-12-31 NI699574 uk-core:WithinOneYear 2024-12-31 NI699574 uk-core:WithinOneYear 2024-12-31 NI699574 2023-07-24 2024-12-31 NI699574 uk-bus:Director1 2023-07-24 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI699574
 
 
Newforge Developments NI Limited
 
Director's Report and Unaudited Financial Statements
 
for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024



Newforge Developments NI Limited
DIRECTOR'S REPORT
for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024

 
The director presents his report and the unaudited financial statements for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024.
     
Director
The director who served during the financial period is as follows:
     
Clarke Kennedy (Appointed 24 July 2023)
   
There were no changes in shareholdings between 31 December 2024 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial period.
     
Statement of Director's Responsibilities
     
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Clarke Kennedy
Director
     
17 April 2025



Newforge Developments NI Limited

ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Newforge Developments NI Limited
for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024 as set out on pages  to 9 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Newforge Developments NI Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the period ended 31 December 2024 your duty to ensure that Newforge Developments NI Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Newforge Developments NI Limited. You consider that Newforge Developments NI Limited is exempt from the statutory audit requirement for the financial period.
 
We have not been instructed to carry out an audit or a review of the financial statements of Newforge Developments NI Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St.Annes House
Cathedral Quarter
15 Church Street
Belfast
BT1 1PG
 
17 April 2025



Newforge Developments NI Limited
Company Registration Number: NI699574
STATEMENT OF FINANCIAL POSITION
as at 31 December 2024

Dec 24
Notes £
 
Current Assets
Inventories 7 29,974
Receivables 8 16,472
Cash and cash equivalents 1
─────────
46,447
─────────
Payables: amounts falling due within one year 9 (47,200)
─────────
Net Current Liabilities (753)
─────────
Total Assets less Current Liabilities (753)
═════════
 
Equity
Called up share capital 1
Retained earnings (754)
─────────
Equity attributable to owners of the company (753)
═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
       
The company has taken advantage of the exemption under section 444 not to file the Income Statement.
       
For the financial period from 24 July 2023 (date of incorporation) to 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
       
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
       
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
       
Approved by the Director and authorised for issue on 17 April 2025
       
       
________________________________      
Clarke Kennedy      
Director      
       



Newforge Developments NI Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial period from 24 July 2023 (date of incorporation) to 31 December 2024

   
1. General Information
 
Newforge Developments NI Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI699574. The registered office of the company is 1 Church Road, Belfast, Co Down, BT16 2LQ, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities include the development of building projects, and buying and selling of own real estate The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Inventories
Inventories are valued at the lower of cost and net realisable value. Inventories are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 17 month 8 days period from 24 July 2023 (date of incorporation) to 31 December 2024.
   
4. Going concern
 
As at 31st December 2024, there was a deficiency of assets of £753.00. The entity remains reliant upon its director.
   
5. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
6. Employees
 
The average monthly number of employees, including director, during the financial period was 1, (Jul 23 - 0).
 
  Dec 24
  Number
 
Director 1
  ═════════
     
7. Inventories Dec 24
  £
 
Work in progress 29,974
  ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
     
8. Receivables Dec 24
  £
 
Amounts owed by related parties 16,472
  ═════════
     
9. Payables Dec 24
Amounts falling due within one year £
 
Bank loan 19,133
Director's current account 17,220
Other creditors 10,097
Accruals 750
  ─────────
  47,200
  ═════════
     
10. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 December 2024.
         
11. Related party transactions
 
Net balances with related parties:
      Dec 24
      £
 
Trading amounts (due from) related parties     (16,472)
      ═════════
 
Carney Hill Developments Limited
Clarke Kennedy is director of Carney Hill Developments Limited and also director of Newforge Developments NI Limited. At the start of the period, there was £nil balance owing to and/or from Carney Hill Developments Limited. During the period, there were net transactions of £13,581. As at 31st December 2024, Carney Hill Developments Limited owed £13,581 to Newforge Developments NI Limited.

Millisle Developments NI Limited
Clarke Kennedy is director of Millisle Developments NI Limited and also director of Newforge Developments NI Limited. At the start of the period, there was £nil balance owing to and/or from Millisle Developments NI Limited. During the period, there were net transactions of £2,891. As at 31st December 2024, Millisle Developments NI Limited owed £2,891 to Newforge Developments NI Limited.
   
12. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial period-end.