Kirk Bryson & Co Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI617480

Kirk Bryson & Co Limited

Filleted Financial Statements

31 December 2024

Kirk Bryson & Co Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	3

Kirk Bryson & Co Limited

Officers and Professional Advisers

The board of directors	Mr J A Carlisle
	Mrs L E Herbert
	Mr M A Herbert

Registered office	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Auditor	Maneely Mc Cann Chartered Accountants
	Chartered Accountants & Statutory Auditors
	Aisling House
	50 Stranmillis Embankment
	Belfast
	BT9 5FL

Bankers	Danske Bank
	Donegall Square West
	Belfast
	BT1 6JS

	Ulster Bank
	11-16 Donegall Square East
	Belfast
	BT1 5UB

Solicitors	DWF (Northern Ireland) LLP
	Jefferson House
	42 Queen Street
	Belfast
	BT1 6HL

Kirk Bryson & Co Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Investments	4		302	302

Current assets

Debtors	5	27,018,782	27,245,963
Cash at bank and in hand		9,209	6,260
		-------------	-------------
		27,027,991	27,252,223

Creditors: amounts falling due within one year	6	165,400		341,684
		-------------		-------------
Net current assets			26,862,591	26,910,539
			-------------	-------------
Total assets less current liabilities			26,862,893	26,910,841

Creditors: amounts falling due after more than one year	7	6,602,654	6,681,803
		-------------	-------------
Net assets		20,260,239	20,229,038
		-------------	-------------

Capital and reserves

Called up share capital	100	100
Profit and loss account	20,260,139	20,228,938
	-------------	-------------
Shareholders funds	20,260,239	20,229,038
	-------------	-------------

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 income and retained earnings has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 23 April 2025 , and are signed on behalf of the board by:

Mr J A Carlisle

Director

Company registration number: NI617480

Kirk Bryson & Co 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 Aisling House, 50 Stranmillis Embankment, Belfast, BT9 5FL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. 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.

Consolidation

The entity has taken advantage of the exemption from preparing consolidated financial statements contained in Section 400 of the Companies Act 2006 on the basis that it is a subsidiary undertaking and its immediate parent undertaking is established under UK law.

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.

Corporation 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.

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. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	302
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	302
	----
At 31 December 2023	302
	----

Subsidiaries, associates and other investments

	Registered office	Class of share	Percentage of shares held
Subsidiary undertakings
Kirk Bryson Ireland Limited	Ireland	Ordinary	100
HB Building Property Services Limited	Northern Ireland	Ordinary	100
Kirk Bryson Northern Limited	England and Wales	Ordinary	100
Lesley Developments Limited	Northern Ireland	Ordinary	100
Mussenden Properties Limited		Ordinary	100

All subsidiaries listed above are involved in property development and investment.

5. Debtors

	2024	2023
	£	£
Trade debtors	1,664	93,241
Amounts owed by group undertakings	27,013,214	26,900,078
Amounts owed by undertakings in which the company has a participating interest	1,164	–
Prepayments and accrued income	–	7,416
Other debtors	2,740	245,228
	-------------	-------------
	27,018,782	27,245,963
	-------------	-------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Amounts owed by group undertakings	27,014,378	26,900,078
	-------------	-------------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	–	3,774
Accruals and deferred income	2,500	208,569
Other creditors	162,900	129,341
	---------	---------
	165,400	341,684
	---------	---------

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	6,602,654	6,681,803
	------------	------------

8. Summary audit opinion

The auditor's report dated 23 April 2025 was unqualified .

The senior statutory auditor was Cathal Maneely , for and on behalf of Maneely Mc Cann Chartered Accountants .

9. Related party transactions

Control The company is a wholly owned subsidiary of Herbel Limited, a company incorporated in Northern Ireland, which is a wholly owned subsidiary of Banner Dell Limited, a company incorporated in England and Wales. Banner Dell Limited is a wholly owned subsidiary of Herbert Corporate Holdings Limited, a company incorporated in Northern Ireland. Herbert Corporate Holdings Limited is a wholly owned subsidiary of Herbert Corporate Holdings (IOM) Limited, a company incorporated in Isle of Man. Mrs L E Herbert is is the shareholder of Herbert Corporate Holdings (IOM) Limited and as such is considered to be the ultimate controlling party of the company. Transactions The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures.

10. Controlling party

Herbert Corporate Holdings (IOM) Limited is the company's ultimate parent company. Copies of consolidated financial statements may be obtained from Ground Floor, Dorchester House, Belmont Hill, Douglas, Isle of Man,IM1 4RE .