0 false false false false false false false false false false true false false false false false false 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 7,136,315 7,136,315 7,136,315 xbrli:pure xbrli:shares iso4217:GBP NI045031 2024-01-01 2024-12-31 NI045031 2024-12-31 NI045031 2023-12-31 NI045031 2023-01-01 2023-12-31 NI045031 2023-12-31 NI045031 2022-12-31 NI045031 bus:Director1 2024-01-01 2024-12-31 NI045031 core:WithinOneYear 2024-12-31 NI045031 core:WithinOneYear 2023-12-31 NI045031 core:AfterOneYear 2024-12-31 NI045031 core:AfterOneYear 2023-12-31 NI045031 core:ShareCapital 2024-12-31 NI045031 core:ShareCapital 2023-12-31 NI045031 core:RevaluationReserve 2024-12-31 NI045031 core:RevaluationReserve 2023-12-31 NI045031 core:RetainedEarningsAccumulatedLosses 2024-12-31 NI045031 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI045031 core:LandBuildings core:OwnedOrFreeholdAssets 2024-12-31 NI045031 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 NI045031 bus:SmallEntities 2024-01-01 2024-12-31 NI045031 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 NI045031 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI045031 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI045031 bus:FullAccounts 2024-01-01 2024-12-31
COMPANY REGISTRATION NUMBER: NI045031
Finlay (Dollingstown) Limited
Filleted Unaudited Financial Statements
31 December 2024
Finlay (Dollingstown) Limited
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
3
7,136,315
7,136,315
Current assets
Stocks
491,280
491,280
Debtors
4
148,813
Cash at bank and in hand
76,076
27,645
---------
---------
716,169
518,925
Creditors: amounts falling due within one year
5
323,873
118,316
---------
---------
Net current assets
392,296
400,609
------------
------------
Total assets less current liabilities
7,528,611
7,536,924
Creditors: amounts falling due after more than one year
6
1,449,052
1,659,235
Provisions
383,807
383,807
------------
------------
Net assets
5,695,752
5,493,882
------------
------------
Capital and reserves
Called up share capital
500,000
500,000
Revaluation reserve
3,260,434
3,260,434
Profit and loss account
1,935,318
1,733,448
------------
------------
Shareholders funds
5,695,752
5,493,882
------------
------------
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 income statement 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 (Dollingstown) 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: NI045031
Finlay (Dollingstown) Limited
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 8 Knockmany Road, Augher, Co Tyrone, BT77 0BE. The principal activity of the business is buying and selling real estate.
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Tangible assets
Freehold property
£
Cost
At 1 January 2024 and 31 December 2024
7,136,315
------------
Depreciation
At 1 January 2024 and 31 December 2024
------------
Carrying amount
At 31 December 2024
7,136,315
------------
At 31 December 2023
7,136,315
------------
The historic cost of the investment property is £3,825,880.
4. Debtors
2024
2023
£
£
Trade debtors
148,813
---------
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
85,957
73,579
Other creditors
237,916
44,737
---------
---------
323,873
118,316
---------
---------
6. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
1,449,052
1,659,235
------------
------------
7. Ultimate holding undertaking
Finlay (Holdings) Limited owns 100% of the ordinary share capital of Finlay (Dollingstown) Limited . Mr S Finlay owns 100% of the ordinary share capital of Finlay (Holdings) Limited and is deemed to be the ultimate controlling party of Finlay (Dollingstown) Limited .
8. Related party transactions
Finlay (Holdings) Limited owns 100% of Finlay (Dollingstown) Limited. Finlay (Dollingstown) Limited has taken advantage of the exemption in FRS102 not to disclose transactions or balances with the wholly own subsidiaries which form part of the group.