| Registered Number:NI027859 |
For the year ended 31 December 2024
Northern Ireland
Unaudited Financial Statements
For the year ended 31 December 2024
Boreal Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
Boreal Limited
Statement of Financial Position
2023
2024
| Property, plant and equipment |
14,189
267,219
2
3
3,173,833
3,218,682
7,002
7,002
4
3,195,024
3,492,903
2,366,683
500,000
5
| Trade and other receivables |
72,845
111,719
6
611,683
| Cash and cash equivalents |
968,733
1,580,452
3,051,211
| Trade and other payables: amounts falling due within one |
| year |
(5,745,159)
(6,053,223)
7
(2,693,948)
(4,472,771)
Net current liabilities
| Total assets less current liabilities |
(1,277,747)
798,955
-
(77,252)
| Provisions for liabilities |
(1,277,747)
Net assets/liabilities
721,703
2
2
7,808
493,260
8
(1,285,557)
228,441
(1,277,747)
721,703
Shareholders' funds
| For the year ended 31 December 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 December 2024
Boreal Limited
Statement of Financial Position Continued
| These financial statements were approved and authorised for issue by the Board on 18 September 2025 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 December 2024
Boreal Limited
Notes to the Financial Statements
Statutory Information
| Boreal Limited is a private limited company, limited by shares, domiciled in Northern Ireland, registration number |
| NI027859. |
Carn Business Park
19 Carn Road
Portadown
Armagh
BT63 5WG
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Property, plant and equipment
| Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Land and Buildings
Furniture and Fittings
Inventories
| Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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. |
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For the year ended 31 December 2024
Boreal Limited
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
463,883
103,883
360,000
2,214
2,214
-
-
(360,000)
(360,000)
-
106,097
106,097
| Provision for depreciation and impairment |
196,664
78,879
117,785
Charge for year
13,029
13,029
-
(117,785)
-
(117,785)
91,908
91,908
-
-
14,189
14,189
242,215
25,004
267,219
3,218,682
440,603
(485,452)
3,173,833
3,173,833
3,218,682
| The companys Investment Properties were valued in September 2025 on the basis of an open market value for exisitng use by Michael Hannath Property Consultancy and Estate Agents. The valuations were undertaken in accordance with the Appraisal and Valuations Standards of the Royal Institute of Chartered Surveyors in the United Kingdom. The valuations resulted in a reduction in value, which has been moved through the revaluation reserve. |
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For the year ended 31 December 2024
Boreal Limited
Notes to the Financial Statements Continued
| 4. Investments held as fixed assets |
7,002
7,002
7,002
7,002
7,002
7,002
7,002
7,002
2023
2024
500,000
2,366,683
| 6. Trade and other receivables |
2023
2024
100,701
52,114
11,018
20,731
72,845
111,719
| 7. Trade and other payables: amounts falling due within one year |
2023
2024
2,543
9,747
| Amounts owed to group undertaking and undertaking in which the |
| company has a participating interest |
5,939,824
5,574,824
| Taxation and social security |
-
109,638
110,856
50,950
6,053,223
5,745,159
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For the year ended 31 December 2024
Boreal Limited
Notes to the Financial Statements Continued
| Revaluation reserve at 01 January 2024 |
493,260
| Revaluation of fixed assets |
(485,452)
7,808
| Revaluation reserve at 31 December 2024 |
| 9. Average number of persons employed |
During the year the average number of employees was 2 (2023 : 2)
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