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REGISTERED NUMBER: NI024415 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD (REGISTERED NUMBER: NI024415)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2024







DIRECTORS: Mr V Wilson
Mr J Rutledge





SECRETARY: Mr J Rutledge





REGISTERED OFFICE: Teemore Business Complex
Teemore
Derrylin
Enniskillen
Co. Fermanagh
BT92 9BL





REGISTERED NUMBER: NI024415 (Northern Ireland)





ACCOUNTANTS: Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD (REGISTERED NUMBER: NI024415)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,408 6,908

CURRENT ASSETS
Debtors 5 19,379 40,643
Cash at bank 93,481 72,428
112,860 113,071
CREDITORS
Amounts falling due within one year 6 6,149 4,709
NET CURRENT ASSETS 106,711 108,362
TOTAL ASSETS LESS CURRENT
LIABILITIES

111,119

115,270

RESERVES
Community contribution 37,072 37,072
Income and expenditure account 74,047 78,198
SHAREHOLDERS' FUNDS 111,119 115,270

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 April 2025 and were signed on its behalf by:





Mr J Rutledge - Director


SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD (REGISTERED NUMBER: NI024415)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2024


1. STATUTORY INFORMATION

South West Fermanagh Development Organisation Ltd is a private company, limited by guarantee , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD (REGISTERED NUMBER: NI024415)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 510,223 17,772 527,995
DEPRECIATION
At 1 January 2024 503,377 17,710 521,087
Charge for year 2,488 12 2,500
At 31 December 2024 505,865 17,722 523,587
NET BOOK VALUE
At 31 December 2024 4,358 50 4,408
At 31 December 2023 6,846 62 6,908

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 6,609 12,949
Other debtors 11,108 26,108
Prepayments and accrued income 1,662 1,586
19,379 40,643

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 1,831 1,801
VAT 1,418 1,208
Other creditors 1,200 -
Accruals and deferred income 1,700 1,700
6,149 4,709

SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SOUTH WEST FERMANAGH DEVELOPMENT
ORGANISATION LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2024 set out on pages one to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Patton Rainey Stenson Limited
Chartered Accountants
6 East Bridge Street
Enniskillen
Co. Fermanagh
BT74 7BT


25 April 2025