Registration number: NI642719

Poplar Investments Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Poplar Investments Limited

Company Information

Director

Mr Michael Brannigan

Registered office

1 Upper Damolly Road Newry BT34 1JX

Accountants

McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS

Poplar Investments Limited

(Registration number: NI642719)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	3,429,210	2,405,362
Current assets
Debtors	5	17,388	50,401
Cash at bank and in hand		30,715	588,498
		48,103	638,899
Creditors: Amounts falling due within one year	6	(291,226)	(852,072)
Net current liabilities		(243,123)	(213,173)
Total assets less current liabilities		3,186,087	2,192,189
Creditors: Amounts falling due after more than one year	6	(613,250)	(634,726)
Net assets		2,572,837	1,557,463
Capital and reserves
Called up share capital		20	20
Revaluation reserve		2,007,539	981,489
Profit and loss account		565,278	575,954
Total equity		2,572,837	1,557,463

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

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 September 2025
 

.........................................

Mr Michael Brannigan
Director

Poplar Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
1 Upper Damolly Road
Newry
BT34 1JX

These financial statements were authorised for issue by the director on 29 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Poplar Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Poplar Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 0).

Poplar Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	2,373,950	11,750	34,394	2,420,094
Revaluations	1,026,050	-	-	1,026,050
Additions	-	-	8,700	8,700
Disposals	-	-	(15,394)	(15,394)
At 31 December 2024	3,400,000	11,750	27,700	3,439,450
Depreciation
At 1 January 2024	-	2,350	12,382	14,732
Charge for the year	-	2,350	5,540	7,890
Eliminated on disposal	-	-	(12,382)	(12,382)
At 31 December 2024	-	4,700	5,540	10,240
Carrying amount
At 31 December 2024	3,400,000	7,050	22,160	3,429,210
At 31 December 2023	2,373,950	9,400	22,012	2,405,362

Included within the net book value of land and buildings above is £3,400,000 (2023 - £2,373,950) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Building was revalued on 3 July 2024. An independent valuer was not involved.
The basis of this valuation was valuation at current market value. The valuation was provided by the director. This value is not expected to have changed since the valuation was carried out..
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,392,461 (2023 - £1,392,461).

5

Debtors

	2024 £	2023 £
Trade debtors	17,388	34,756
Other debtors	-	15,645
	17,388	50,401

Poplar Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Creditors

	Note	2024 £	2023 £
Due within one year
Corporation tax liability		260	92,346
Taxation and social security		1,088	-
Other creditors		63,396	55,944
Loans from directors		205,505	688,049
Accruals and deferred income		20,977	15,733
		291,226	852,072
Due after one year
Other non-current financial liabilities		613,250	634,726

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	20	20	20	20

8	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Other borrowings	63,396	55,944

Non-current loans and borrowings

	2024 £	2023 £
Other borrowings	613,250	634,726