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REGISTERED NUMBER: NI673587 (Northern Ireland)













DEAN FARRELL PROPERTIES LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024






DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


DEAN FARRELL PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2024







DIRECTOR: Dean Farrell



SECRETARY: Dean Farrell



REGISTERED OFFICE: 129 Clabby Road
Fivemiletown
Co. Tyrone
BT75 0QY



REGISTERED NUMBER: NI673587 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Danske Bank
PO Box 183
Donegall Square West
Belfast
BT1 6JS

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DEAN FARRELL PROPERTIES LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, 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 him 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 the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 October 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


2 May 2025

DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)

BALANCE SHEET
31 OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 10,556 7,951
Investment property 5 332,254 186,636
342,810 194,587

CURRENT ASSETS
Debtors 6 12,402 -
Cash at bank 10,042 10,019
22,444 10,019
CREDITORS
Amounts falling due within one year 7 223,874 80,896
NET CURRENT LIABILITIES (201,430 ) (70,877 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,380

123,710

CREDITORS
Amounts falling due after more than one
year

8

126,847

113,446
NET ASSETS 14,533 10,264

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 13,533 9,264
SHAREHOLDERS' FUNDS 14,533 10,264

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year 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.

DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)

BALANCE SHEET - continued
31 OCTOBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 May 2025 and were signed by:





Dean Farrell - Director


DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1. STATUTORY INFORMATION

Dean Farrell Properties Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings - 10% straight line

Investment properties
Investment property is initially recognised at cost and subject to periodical revaluation.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2023 8,835
Additions 3,876
At 31 October 2024 12,711
DEPRECIATION
At 1 November 2023 884
Charge for year 1,271
At 31 October 2024 2,155
NET BOOK VALUE
At 31 October 2024 10,556
At 31 October 2023 7,951

DEAN FARRELL PROPERTIES LTD (REGISTERED NUMBER: NI673587)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 186,636
Additions 145,618
At 31 October 2024 332,254
NET BOOK VALUE
At 31 October 2024 332,254
At 31 October 2023 186,636

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 12,402 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 223,874 80,896

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Other creditors 126,847 113,446

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors loan 126,847 113,446

9. RELATED PARTY DISCLOSURES

The company maintains a loan from Farrell Fencing Products Ltd, which shares a common director.

The outstanding balance at the end of the year was £210,000 (2023 - £70,000).

There is no repayment date on this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due within one year.