Boyd Enterprises (N.I.) Ltd |
Registered number: |
NI028802 |
Report and Financial Statements |
for the year ended 31 December 2024 |
|
Balance Sheet as at 31 December 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
121,880 |
|
|
124,040 |
|
|
Current assets |
Debtors |
4 |
|
8,455 |
|
|
4,434 |
Cash at bank and in hand |
|
|
75,662 |
|
|
75,895 |
|
|
|
84,117 |
|
|
80,329 |
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
5 |
|
(5,894) |
|
|
(4,812) |
|
|
|
|
|
|
|
Net current assets |
|
|
|
78,223 |
|
|
75,517 |
|
Total assets less current liabilities |
|
|
|
200,103 |
|
|
199,557 |
|
Provisions for liabilities |
|
|
|
- |
|
|
- |
|
Net assets |
|
|
|
200,103 |
|
|
199,557 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
2 |
|
|
2 |
Profit and loss account |
|
|
|
200,101 |
|
|
199,555 |
|
Shareholders' funds |
|
|
|
200,103 |
|
|
199,557 |
|
|
|
|
|
|
|
|
The director is 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 director acknowledges his 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. |
|
|
|
|
Mr Patrick Boyd |
Director |
Approved by the board on 30 April 2025 |
|
Boyd Enterprises (N.I.) Ltd |
Report and Financial Statements |
for the year ended 31 December 2024 |
|
Notes to the Financial Statements |
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The financial statements 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). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover relates to rents receivable, none of which is attributable to geographical markets outside the UK. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
over 50 years |
|
|
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. |
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|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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Judgements and key sources of estimation uncertainty |
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Useful Lives of Tangible Fixed Assets: Long-lived assets comprising primarily of property represent a significant portion of total assets. The annual depreciation charge depends primarily on the estimated life of the property and, in certain circumstances, estimates of residual values. The directors regularly review these useful lives and change them if necessary to reflect current conditions. In determining these useful lives management consider physical condition and expected economic utilisation of the asset. Changes in the useful lives can have a significant impact on the depreciation for the financial year. The net book value of Tangible Fixed Assets subject to depreciation at the financial year end date was £121,880 (2023: £124,040). |
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|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
Land and buildings |
|
Total |
£ |
£ |
|
Cost |
|
At 1 January 2024 |
128,000 |
|
128,000 |
|
At 31 December 2024 |
128,000 |
|
128,000 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
3,960 |
|
3,960 |
|
Charge for the year |
2,160 |
|
2,160 |
|
At 31 December 2024 |
6,120 |
|
6,120 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
121,880 |
|
121,880 |
|
At 31 December 2023 |
124,040 |
|
124,040 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
128,000 |
|
128,000 |
|
Cumulative depreciation based on historical cost |
(6,120) |
|
(3,960) |
|
|
|
|
|
|
121,880 |
|
124,040 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
2,536 |
|
515 |
|
Boyd Enterprises (Evesham) Ltd |
5,919 |
|
3,919 |
|
|
|
|
|
|
8,455 |
|
4,434 |
|
|
|
|
|
|
|
|
|
|
Debtors do not include any amounts falling due after more than one year. |
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Taxation and social security costs |
51 |
|
1,381 |
|
Other creditors |
5,843 |
|
3,431 |
|
|
|
|
|
|
5,894 |
|
4,812 |
|
|
|
|
|
|
|
|
|
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6 |
Events after the reporting date |
|
There were no events since the year end which would necessitate a change in the above figures. |
|
7 |
Contingent liabilities |
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There are no contingent liabilities at the year end. |
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8 |
Related party transactions |
|
Boyd Enterprises (Evesham) Ltd owes the company £5,919 as at 31st December 2024 (£ 3,919 - 2023) |
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9 |
Controlling party |
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The ultimate controlling parties are Mr. Patrick Boyd and Boyd Enterprises (Evesham) Ltd. |
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10 |
Capital commitments |
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The company did not have any capital commitments at 31st December 2024 not already provided for in |
|
the financial statements. |
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11 |
Other information |
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Boyd Enterprises (N.I.) Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: |
|
14, John Mitchel Place |
|
Newry |
|
Co. Down |
|
BT34 2BP |