BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activities of the company are to carry on the business of buying, owning, developing, selling and investing in commercial and private property, to rent, lease and maintain same, construction of commercial and private property, roads and pathways, acting as contractors and sub contractors, general building work and any other associated activity or service. 29 July 2025 1 1 NI062310 2024-10-31 NI062310 2023-10-31 NI062310 2022-10-31 NI062310 2023-11-01 2024-10-31 NI062310 2022-11-01 2023-10-31 NI062310 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI062310 uk-curr:PoundSterling 2023-11-01 2024-10-31 NI062310 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI062310 uk-bus:FullAccounts 2023-11-01 2024-10-31 NI062310 uk-bus:Director1 2023-11-01 2024-10-31 NI062310 uk-bus:RegisteredOffice 2023-11-01 2024-10-31 NI062310 uk-bus:Agent1 2023-11-01 2024-10-31 NI062310 uk-core:ShareCapital 2024-10-31 NI062310 uk-core:ShareCapital 2023-10-31 NI062310 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 NI062310 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 NI062310 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 NI062310 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 NI062310 uk-bus:FRS102 2023-11-01 2024-10-31 NI062310 uk-core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI062310 uk-core:WithinOneYear 2024-10-31 NI062310 uk-core:WithinOneYear 2023-10-31 NI062310 uk-core:WithinOneYear 2024-10-31 NI062310 uk-core:WithinOneYear 2023-10-31 NI062310 uk-core:ParentEntities 2023-11-01 2024-10-31 NI062310 2023-11-01 2024-10-31 NI062310 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
Company Registration Number: NI062310
 
 
Derrychara Properties Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2024



Derrychara Properties Limited
DIRECTOR AND OTHER INFORMATION

 
Director Mr J L Cooper
 
 
Company Registration Number NI062310
 
 
Registered Office 23 Crest Road
Enniskillen
Fermanagh
BT74 6JJ
Northern Ireland
 
 
Business Address c/o Mr James Cooper
Imperial Buildings
38-40 Queen Elizabeth Road
Enniskillen
Co Fermanagh
BT74 7BY
Northern Ireland
 
 
Accountants Cooper Irvine Ltd
Chartered Accountants
6 Townhall St
Enniskillen
Fermanagh
BT74 7BA
Northern Ireland
 
 
Bankers Danske Bank
  Omagh Finance Centre
  5-7 Market Street
  Co Tyrone
  BT78 1BN
  Northern Ireland
 
   
Solicitors Cooper Wilkinson Limited
  Imperial Buildings
  Queen Elizabeth Road
  Co Fermanagh
  Northern Ireland



Derrychara Properties Limited
Company Registration Number: NI062310
STATEMENT OF FINANCIAL POSITION
as at 31 October 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 607,403 950,000
───────── ─────────
 
Current Assets
Stocks 6 30,761 30,761
Creditors: amounts falling due within one year 7 (3,065,884) (3,357,997)
───────── ─────────
Net Current Liabilities (3,035,123) (3,327,236)
───────── ─────────
Total Assets less Current Liabilities (2,427,720) (2,377,236)
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings (2,427,722) (2,377,238)
───────── ─────────
Equity attributable to owners of the company (2,427,720) (2,377,236)
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 29 July 2025
           
           
________________________________          
Mr J L Cooper          
Director          
           



Derrychara Properties Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2024

   
1. General Information
 
Derrychara Properties Limited is a company limited by shares incorporated in the Northern Ireland
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
The whole of the company's turnover is attributable to its market in the United Kingdom and is derived from the principal activity of buying, owning, developing, selling and investing in commercial and private property, to rent, lease and maintain same, construction of commercial and private property, roads and pathways, acting as contractors and sub contractors, general building work and any other associated activity or service.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 15% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
Provided the banks continue to provide the same level of facilities which they have done previously, I have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus I continue to adopt the going concern basis of accounting in preparing the annual financial statements.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Directors 1 1
  ═════════ ═════════
         
5. Property, plant and equipment
  Investment Fixtures, Total
  properties fittings and  
    equipment  
  £ £ £
Cost or Valuation
At 1 November 2023 950,000 234 950,234
Disposals (600,000) - (600,000)
Revaluation 257,403 - 257,403
  ───────── ───────── ─────────
At 31 October 2024 607,403 234 607,637
  ───────── ───────── ─────────
Depreciation
At 1 November 2023 - 234 234
  ───────── ───────── ─────────
 
At 31 October 2024 - 234 234
  ───────── ───────── ─────────
Net book value
At 31 October 2024 607,403 - 607,403
  ═════════ ═════════ ═════════
At 31 October 2023 950,000 - 950,000
  ═════════ ═════════ ═════════
 
The director is of the opinion that the value of investment properties included in the accounts, reflects the fair value of the investment property at the year end.
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 30,761 30,761
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 833,420 1,202,997
Trade creditors 435 425
Amounts owed to group undertakings (Note 8) 2,231,192 2,153,748
Amounts owed to connected parties (Note 8) 402 402
Accruals 435 425
  ───────── ─────────
  3,065,884 3,357,997
  ═════════ ═════════
 
Securities held by Danske Bank
    - Legal Mortgage over Derrychara West, Enniskillen
    - Legal mortgage over Derrychara East, Enniskillen
    - Floating Charge
    - Legal Mortgage over 4/6 Townhall St & Offices fronting Queen Elizabeth Road
    - Legal Mortgage over Water Street, Enniskillen
    - Company Guarantee £1,500,000
    - Joint/shared Guarantee £1,500,000
    - Legal Mortgage over Lands at Goblusk, Enniskillen
           
8. Related party transactions
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
RJW Developments Ltd     402 402
      ═════════ ═════════
         
Transactions and balances with group companies:
 
    2024 2023
    £ £
 
Group Undertaking Creditors
 
The Imperial Hotel (Enniskillen) Limited   1,113,380 1,035,936
J & W Cooper Developments Ltd   1,117,812 1,117,812
    ───────── ─────────
    2,231,192 2,153,748
    ═════════ ═════════
   
9. Parent company
 
The company regards J & W Cooper Developments Ltd as its parent company. Derrychara Properties Limited is a wholly owned subsidiary of J & W Cooper Developments Ltd.