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COMPANY REGISTRATION NUMBER: NI031974
Finlay (Holdings) Limited
Filleted Unaudited Financial Statements
31 December 2024
Finlay (Holdings) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
21,670,606
21,053,159
Investments
5
500,094
500,094
-------------
-------------
22,170,700
21,553,253
Current assets
Debtors
6
2,012,093
2,138,284
Cash at bank and in hand
5,615,725
5,753,969
------------
------------
7,627,818
7,892,253
Creditors: amounts falling due within one year
7
318,512
610,811
------------
------------
Net current assets
7,309,306
7,281,442
-------------
-------------
Total assets less current liabilities
29,480,006
28,834,695
Provisions
2,484,378
2,500,872
-------------
-------------
Net assets
26,995,628
26,333,823
-------------
-------------
Capital and reserves
Called up share capital
1,000
1,000
Revaluation reserve
12,460,021
12,460,021
Profit and loss account
14,534,607
13,872,802
-------------
-------------
Shareholders funds
26,995,628
26,333,823
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Finlay (Holdings) Limited
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 12 June 2025 , and are signed on behalf of the board by:
Mr S Finlay
Director
Company registration number: NI031974
Finlay (Holdings) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
Finlay (Holdings) Limited is a company limited by shares and incorporated in Northern Ireland. The address of the registered office is 8 Knockmanny Road, Augher, Co Tyrone, BT77 0BE. The principal activity of the company are the holding of investments in group undertakings, namely Finlay (Dollingstown) Limited and Arianne Developments Limited, the holding or land and buildings as investments properties, development and construction.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Office Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.
3. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
4. Tangible assets
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 January 2024
20,818,356
705,104
117,745
30,527
21,671,732
Additions
516,598
17,250
284,900
3,895
822,643
Disposals
( 198,545)
( 198,545)
-------------
---------
---------
--------
-------------
At 31 December 2024
21,334,954
722,354
204,100
34,422
22,295,830
-------------
---------
---------
--------
-------------
Depreciation
At 1 January 2024
480,800
117,745
20,028
618,573
Charge for the year
84,894
44,183
4,644
133,721
Disposals
( 127,070)
( 127,070)
-------------
---------
---------
--------
-------------
At 31 December 2024
565,694
34,858
24,672
625,224
-------------
---------
---------
--------
-------------
Carrying amount
At 31 December 2024
21,334,954
156,660
169,242
9,750
21,670,606
-------------
---------
---------
--------
-------------
At 31 December 2023
20,818,356
224,304
10,499
21,053,159
-------------
---------
---------
--------
-------------
5. Investments
Shares in group undertakings
£
Cost
At 1 January 2024 and 31 December 2024
500,094
---------
Impairment
At 1 January 2024 and 31 December 2024
---------
Carrying amount
At 31 December 2024
500,094
---------
At 31 December 2023
500,094
---------
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Finlay (Dollowingstown) Limited 8 Knockmanny Road, Augher, Co Tyrone, BT77 0BE
Ordinary
100
Arianne Developments Limited 22 Northumber Road, Ballsbridge, Dublin 4
Ordinary
100
6. Debtors
2024
2023
£
£
Trade debtors
153,846
22,023
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,663,176
1,908,949
Other debtors
195,071
207,312
------------
------------
2,012,093
2,138,284
------------
------------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
24,311
393,167
Social security and other taxes
274,444
202,810
Other creditors
19,757
14,834
---------
---------
318,512
610,811
---------
---------
8. Related party transactions
Finlay (Holdings) Limited owns 100% of Finlay (Dollingstown) Limited and Arianne Developments. Finlay (Holdings) Limited has taken advantage of the exemption in FRS102 not to disclose transactions or balances with these wholly owned subsidiaries which form part of the group.