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COMPANY REGISTRATION NUMBER: NI004615
D Acheson (Pressed Brick) Limited
Unaudited financial statements
31 August 2024
D Acheson (Pressed Brick) Limited
Financial statements
Year ended 31 August 2024
Contents
Pages
Officers and professional advisers
1
Directors' report
2
Chartered accountant report to the board of directors on the preparation of the unaudited statutory financial statements
3
Statement of income and retained earnings
4
Statement of financial position
5
Notes to the financial statements
6 to 8
D Acheson (Pressed Brick) Limited
Officers and professional advisers
The board of directors
Mr JG Acheson
Mr JR Acheson
Company secretary
Mr JG Acheson
Registered office
Uint 10
4 Molesworth Street
Cookstown
Tyrone
BT80 8NX
Accountant
WSCurragh
Chartered Accountant
13 Tweskard Park
Belfast
BT4 2JY
Solicitors
Millar, Shearer and Black
40 Molesworth Street
Cookstown
BT80 8JW
D Acheson (Pressed Brick) Limited
Directors' report
Year ended 31 August 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2024 .
Directors
The directors who served the company during the year were as follows:
Mr JG Acheson
Mr JR Acheson
Principal activities
The principal activity of the company during the year was the leasing of land.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 22 May 2025 and signed on behalf of the board by:
Mr JG Acheson
Company Secretary
D Acheson (Pressed Brick) Limited
Chartered accountant report to the board of directors on the preparation of the unaudited statutory financial statements of D Acheson (Pressed Brick) Limited
Year ended 31 August 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of D Acheson (Pressed Brick) Limited for the year ended 31 August 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of Chartered Accountants Ireland, I am subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of D Acheson (Pressed Brick) Limited, as a body, in accordance with the terms of my engagement letter dated 14 October 2024. My work has been undertaken solely to prepare for your approval the financial statements of D Acheson (Pressed Brick) Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than D Acheson (Pressed Brick) Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that D Acheson (Pressed Brick) 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 profit of D Acheson (Pressed Brick) Limited. You consider that D Acheson (Pressed Brick) Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of D Acheson (Pressed Brick) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
WSCurragh Chartered Accountant
13 Tweskard Park Belfast BT4 2JY
22 May 2025
D Acheson (Pressed Brick) Limited
Statement of income and retained earnings
Year ended 31 August 2024
2024
2023
Note
£
£
Administrative expenses
( 9,881)
( 9,685)
Other operating income
5
35,024
22,825
-------
-------
Operating profit
25,143
13,140
-------
-------
Profit before taxation
25,143
13,140
Tax on profit
( 4,788)
( 2,497)
-------
-------
Profit for the financial year and total comprehensive income
20,355
10,643
-------
-------
Retained earnings at the start of the year
1,102,641
1,091,998
----------
----------
Retained earnings at the end of the year
1,122,996
1,102,641
----------
----------
All the activities of the company are from continuing operations.
D Acheson (Pressed Brick) Limited
Statement of financial position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
797,619
797,619
Current assets
Debtors
7
680,140
657,518
Creditors: amounts falling due within one year
8
4,763
2,496
--------
--------
Net current assets
675,377
655,022
----------
----------
Total assets less current liabilities
1,472,996
1,452,641
Creditors: amounts falling due after more than one year
9
338,000
338,000
----------
----------
Net assets
1,134,996
1,114,641
----------
----------
Capital and reserves
Called up share capital
12,000
12,000
Profit and loss account
1,122,996
1,102,641
----------
----------
Shareholders funds
1,134,996
1,114,641
----------
----------
These financial statements have been prepared 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'.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr JG Acheson
Mr JR Acheson
Director
Director
Company registration number: NI004615
D Acheson (Pressed Brick) Limited
Notes to the financial statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland, company registration number NI004615 . The address of the registered office is Unit 10, 4 Molesworth Street, Cookstown, BT80 8NX, Tyrone.
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. Significant 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 and the level of rounding is £1.
Going concern
The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to adopt the going concern basis in preparing the annual financial statements.
Disclosure exemptions
Disclosures in respect of financial instruments have not been presented.
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.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2).
5. Other operating income
2024
2023
£
£
Rental income
35,024
22,825
-------
-------
6. Tangible assets
Freehold property
£
Cost
At 1 September 2023 and 31 August 2024
797,619
--------
Depreciation
At 1 September 2023 and 31 August 2024
--------
Carrying amount
At 31 August 2024
797,619
--------
At 31 August 2023
797,619
--------
7. Debtors
2024
2023
£
£
Other debtors
680,140
657,518
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,763
2,496
------
------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
338,000
338,000
--------
--------
10. Other financial commitments
The bank overdraft facility of D Acheson (Navan Quarries) Limited, a related party by virtue of common control, is partly secured by an all monies debenture comprising a first fixed charge over certain of the company's freehold land.
11. Related party transactions
D Acheson (Navan Quarries) Limited and D Acheson (Limeworks) Limited constitute related parties by virtue of common control. During the period, payments were made and received by D Acheson (Navan Quarries) Limited on behalf of D Acheson (Pressed Brick) Limited . Balances outstanding with related parties were:
2024 2023
£ £
Amounts owed by D Acheson (Limeworks) Limited 14,114 14,114
Amounts owed by D Acheson (Navan Quarries) Limited 666,026 643,404
Non-cumulative redeemable preference shares issued to D Acheson (Navan Quarries) Limited 338,000 338,000
12. Ultimate controlling parties
The ultimate controlling parties are JG Acheson and JR Acheson by virtue of their equity shareholdings.