Registration number:
Youngs Broughshane Limited
for the Year Ended 30 June 2024
Youngs Broughshane Limited
(Registration number: NI006685)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
|
Fixed assets |
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Investment property |
|
|
|
Current assets |
|||
Debtors |
- |
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current (liabilities)/assets |
( |
|
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
63,950 |
63,950 |
|
Revaluation reserve |
68,323 |
68,323 |
|
Other reserves |
25,939 |
25,939 |
|
Retained earnings |
115,504 |
187,144 |
|
Shareholders' funds |
273,716 |
345,356 |
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.
Director's responsibilities:
• |
|
• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
......................................... |
Youngs Broughshane Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
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).
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.
Group accounts not prepared
Revenue recognition
Rental income is recognised on a straight-line basis over the lease term. The aggregate cost of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.
Tax
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.
Investment property
Youngs Broughshane Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
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.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
2024 |
|
At 1 July 2023 |
|
At 30 June 2024 |
|
Youngs Broughshane Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
Investments |
Subsidiaries |
£ |
Cost or valuation |
|
At 1 July 2023 |
|
Provision |
|
At 1 July 2023 |
|
Carrying amount |
|
At 30 June 2024 |
- |
The company purchased the entire share capital of Walter Young Limited on 1st August 2013. Walter Young Limited is a company incorporated in Northern Ireland with a year end coterminous with that of its parent. Its principal activity is that of dealing in and servicing motor vehicles.
Debtors |
2024 |
2023 |
|
Other debtors |
- |
|
- |
|
Creditors |
2024 |
2023 |
|
Other creditors |
12,289 |
1,810 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
63,950 |
|
63,950 |