| Glenlough Developments Limited |
| Registered Number:NI049396 |
For the year ended 31 December 2024
Northern Ireland
Unaudited Financial Statements
For the year ended 31 December 2024
Glenlough Developments Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
Glenlough Developments Limited
Statement of Financial Position
2023
2024
| Property, plant and equipment |
690,000
584,348
2
690,000
584,348
| Trade and other receivables |
27,126
30,825
3
146,232
| Cash and cash equivalents |
125,975
156,800
173,358
| Trade and other payables: amounts falling due within one |
| year |
(1,151,980)
(1,095,214)
4
(978,622)
(938,414)
Net current liabilities
| Total assets less current liabilities |
(248,414)
(394,274)
(248,414)
Net liabilities
(394,274)
10,000
10,000
105,652
-
5
(364,066)
(404,274)
(248,414)
(394,274)
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. |
| 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
Glenlough Developments Limited
Notes to the Financial Statements
Statutory Information
| Glenlough Developments Limited is a private limited company, limited by shares, domiciled in Northern Ireland, |
| registration number NI049396. |
Carn Industrial Park
19 Carn Road
Portadown
Armagh
BT63 5RH
| 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: |
| 2. Property, plant and equipment |
584,348
105,652
690,000
690,000
584,348
| The investment properties were revalued on request by the directors by Hannath Property Consultants. The properties |
| were valued at £690,000. The uplift in value has been shown through the revaluation reserve. |
| 3. Trade and other receivables |
2023
2024
29,486
24,034
1,339
3,092
27,126
30,825
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For the year ended 31 December 2024
Glenlough Developments Limited
Notes to the Financial Statements Continued
| 4. Trade and other payables: amounts falling due within one year |
2023
2024
-
780
| Amounts owed to group undertaking and undertaking in which the |
| company has a participating interest |
1,070,106
1,130,106
| Taxation and social security |
15,606
13,777
9,502
7,317
1,095,214
1,151,980
| Revaluation reserve at 01 January 2024 |
-
| Revaluation of fixed assets |
105,652
105,652
| Revaluation reserve at 31 December 2024 |
| 6. Average number of persons employed |
During the year the average number of employees was 0
| 7. Parent-subsidiary relationship |
| The directors regard Boreal Limited, which is registered in Northern Ireland, to be the company's ultimate parent company. According to the register kept by the company, Boreal Limited has 70% interest in the share capital of Glenlough Developments Limited. The Company is controlled equally by Mr N Eakin and Mrs E Eakin who each own 50% of the ordinary share capital of Boreal Limited. |
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