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Registration number: NI662582

Three Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Three Homes Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Three Homes Limited

Company Information

Directors

Mr Brendan Doherty

Mr Paul Gilbride

Registered office

32A Station Road
Upper Ballinderry
Lisburn
BT28 2LW

Accountants

McKeague Morgan & Company
27 College Gardens
Belfast
BT9 6BS

 

Three Homes Limited

(Registration number: NI662582)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

85,247

72,699

Current assets

 

Debtors

5

30,512

9,302

Cash at bank and in hand

 

325,775

289,653

 

356,287

298,955

Creditors: Amounts falling due within one year

6

(90,400)

(83,018)

Net current assets

 

265,887

215,937

Net assets

 

351,134

288,636

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

351,034

288,536

Total equity

 

351,134

288,636

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Three Homes Limited

(Registration number: NI662582)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................

Mr Paul Gilbride
Director

 

Three Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
32A Station Road
Upper Ballinderry
Lisburn
BT28 2LW

These financial statements were authorised for issue by the Board on 22 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Three Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Three Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

2

Accounting policies (continued)

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Three Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 July 2023

48,163

46,400

94,563

Additions

-

35,250

35,250

At 30 June 2024

48,163

81,650

129,813

Depreciation

At 1 July 2023

7,024

14,840

21,864

Charge for the year

5,999

16,703

22,702

At 30 June 2024

13,023

31,543

44,566

Carrying amount

At 30 June 2024

35,140

50,107

85,247

At 30 June 2023

41,139

31,560

72,699

5

Debtors

2024
£

2023
£

Other debtors

30,512

9,302

30,512

9,302

 

Three Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

6,964

12,859

Corporation tax liability

 

69,309

56,403

Taxation and social security

 

1,682

4,555

Loans from directors

 

10,945

8,451

Accruals and deferred income

 

1,500

750

 

90,400

83,018

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100