|
|
|
|
|
|
New Fort Properties Ltd
|
|
|
|
|
|
Notes to the financial statements
|
|
|
for the year ended 31 August 2024
|
|
|
|
|
|
|
|
|
1
|
Company information
|
|
|
|
|
|
|
|
New Fort Properties Ltd is a private company registered in Northern Ireland. Its registered number is
NI647523. The company is limited by shares. Its registered office is 65 Bachelors Walk, Lisburn, BT28
1XN.
|
|
|
|
|
|
|
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 historic cost convention.
|
|
|
|
|
|
|
|
Going concern
|
|
|
|
In preparing these financial statements, the director has assessed whether there are any material
uncertainties related to events or conditions that cast significant doubt upon the company's ability to
continue as a going concern. In making this assessment, the director takes into account all available
information about the future which is at least 12 months from the date that the financial statements are
authorised for issue.
|
|
|
|
|
|
|
|
The director considers that the company has adequate resources to continue in business for the
foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial
statements.
|
|
|
|
|
|
|
|
Stocks
|
|
|
|
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete
and slow moving items.
|
|
|
|
|
|
|
|
Work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first
-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their
present location and condition.
|
|
|
|
|
|
|
|
Taxation
|
|
|
|
Taxation for the year comprises current taxation. Tax is recognised in the Profit and loss account,
except to the extent that it relates to items recognised in other comprehensive income or directly in
equity.
|
|
|
|
|
|
|
|
Current 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.
|
|
|
|
|
|
|
3
|
Average number of employees
|
|
|
|
|
|
|
|
During the year the average number of employees was Nil (2023 - Nil).
|
|
|
|
|
|
|
3
|