O'Kane Holdings Ltd iXBRL

Company Registration Number: NI016047

O'Kane Holdings Ltd

Abridged Unaudited Financial Statements

for the financial year ended 31 December 2024

O'Kane Holdings Ltd

Company Registration Number: NI016047

ABRIDGED BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£

Current Assets

Debtors

735,940

736,421

Cash and cash equivalents

5,251

5,990

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741,191

742,411

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Creditors: amounts falling due within one year

(69,483)

(69,268)

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Net Current Assets

671,708

673,143

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Total Assets less Current Liabilities

671,708

673,143

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Capital and Reserves

Called up share capital

110,000

110,000

Retained earnings

561,708

563,143

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Shareholders' Funds

671,708

673,143

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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).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm 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 directors acknowledge 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 Board and authorised for issue on 1 September 2025 and signed on its behalf by




________________________________
Mr. Brian O'Kane
Director

O'Kane Holdings Ltd

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 December 2024

General Information

O'Kane Holdings Ltd is a company limited by shares incorporated in Northern Ireland. 49 High Street, Draperstown, BT45 7AB is the registered office, which is also the principal place of business of the company. The company registration number is NI016047. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

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 December 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 on the going concern basis and 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. The going concern basis assumes that the company will continue in operational existence for the foreseeable future, having adequate funds to meet its obligations as they fall due. The directors have concluded after making enquiries and considering any uncertainties, that there is a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 Balance Sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).

2024

2023

Number

Number

Directors

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Capital commitments

The company had no material capital commitments at the financial year ended 31 December 2024.