REGISTERED NUMBER: NI667827 (Northern Ireland)

COOLNACRAN FARM LTD

Directors' Report and

Unaudited Financial Statements for the Year Ended 30 April 2025

Page

Company Information

1

Directors' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

David Irvine

Lynda Irvine

REGISTERED OFFICE:

118 Old Newry Road

Coolnacran

Banbridge

Co. Antrim

BT32 4LJ

REGISTERED NUMBER:

NI667827 (Northern Ireland)

ACCOUNTANTS:

Cooper Parry Advisory Limited

Chartered Accountants

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

The directors present their report with the financial statements of the Company for the year ended 30 April 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2024 to the date of this report.

David Irvine

Lynda Irvine

POLITICAL DONATIONS AND EXPENDITURE

No donations for political purposes were made during the year end (2024-2025 - £Nil).

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

David Irvine - Director

18 August 2025

NON-CURRENT ASSETS

Tangible assets

5

1,595,389

1,520,945

CURRENT ASSETS

Inventories

6

700

652

Receivables: amounts falling due within one year

7

-

1,198

Cash at bank

59,188

56,487

59,888

58,337

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

8

(443,255

)

(517,579

)

NET CURRENT LIABILITIES

(383,367

)

(459,242

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,212,022

1,061,703

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

9

(118,398

)

(102,165

)

PROVISIONS FOR LIABILITIES

(128,507

)

(128,507

)

NET ASSETS

965,117

831,031

CAPITAL AND RESERVES

Called up share capital

10

100

100

Revaluation reserve

471,961

471,961

Retained earnings

493,056

358,970

SHAREHOLDERS' FUNDS

965,117

831,031

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 2025 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 profit or loss 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 18 August 2025 and were signed on its behalf by:

David Irvine - Director

Lynda Irvine - Director

1.	STATUTORY INFORMATION

Coolnacran Farm Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The Financial Statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

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

Property, plant & equipment

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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:

Freehold Property

- 0% Straight Line

Plant & Machinery

- 5% Reducing Balance

Fixtures & Fittings

- 5% Reducing Balance

Motor Vehicles

- 5% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories 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.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments

Property, plant and equipment held under leasing and hire purchase arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Finance costs

Finance costs are charged to the Income Statement over the term of the debt.

Share capital

Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new

ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within current liabilities.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 4 ).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 May 2024

1,006,916

817,042

3,558

32,250

1,859,766

Additions

-

111,503

-

-

111,503

Disposals

-

(5,075

)

-

-

(5,075

)

At 30 April 2025

1,006,916

923,470

3,558

32,250

1,966,194

DEPRECIATION

At 1 May 2024

-

338,094

404

323

338,821

Charge for year

-

27,881

788

7,982

36,651

Eliminated on disposal

-

(4,667

)

-

-

(4,667

)

At 30 April 2025

-

361,308

1,192

8,305

370,805

NET BOOK VALUE

At 30 April 2025

1,006,916

562,162

2,366

23,945

1,595,389

At 30 April 2024

1,006,916

478,948

3,154

31,927

1,520,945

Cost or valuation at 30 April 2025 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2021

1,006,916

769,194

3,558

4,400

1,784,068

Valuation in 2022

-

31,141

-

-

31,141

Valuation in 2024

-

16,707

-

27,850

44,557

Valuation in 2025

-

106,428

-

-

106,428

1,006,916

923,470

3,558

32,250

1,966,194

6.	INVENTORIES

2025

2024

£

£

Inventories

700

652

7.

RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

VAT

-

1,198

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans & overdrafts

119,797

165,821

Hire purchase contracts

7,825

10,080

Trade payables

6,485

12,587

Taxation & social security

25,534

31,497

Other payables

283,614

297,594

443,255

517,579

Hire purchase liabilities are secured against the assets to which they relate.

9.

PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR

2025

2024

£

£

Bank loans

38,408

82,315

Hire purchase contracts

79,990

19,850

118,398

102,165

Hire purchase liabilities are secured against the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

1

100

100

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A balance of £272,883 (2024 - £291,606) was owing from the company to the directors at the year end.