Registered number
NI655765
ABCL Developments Ltd
Filleted Accounts
30 September 2024
ABCL Developments Ltd
Registered number: NI655765
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Creditors: amounts falling due within one year 3 (2,870) (2,432)
Net current liabilities (2,870) (2,432)
Net liabilities (2,870) (2,432)
Capital and reserves
Called up share capital 100 100
Profit and loss account (2,970) (2,532)
Shareholders' funds (2,870) (2,432)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Laurence McCann
Director
Approved by the board on 8 April 2025
ABCL Developments Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 2,521 2,083
Other creditors 349 349
2,870 2,432
4 Related party transactions
In the period the the company made repayments on an interest free inter-company loan given by Circular Property Developments Ltd. The balance at the start of the year was £44,447. Repayments of £52,000 have been made in the period and the balance as at 30th September 2022. Circular Property Development Ltd is now owed £1,469.
5 Controlling party
The ultimate controlling parties of the company are Laurence McCann and Adrian Mimnagh
6 Going concern
The directors acknowledge the continued negative balance sheet. The balance sheet remains negative for the current year ended 30 September 2022 due to bank fees and low level bank interest on the repayment of a bank loan. The director's note that the biggest single creditor is to a connected company who wll not be seeking repaymnt of this amount until the company becomes sustainably profitable. The directors are not aware of any material concerns around the company's ability to continue as a going concern.
7 Other information
ABCL Developments Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
7 Letfern Avenue
Tattyreagh
Omagh
Co Tyrone
BT78 1LA
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