Dunleath Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI006324

Dunleath Estates Limited

Filleted Unaudited Financial Statements

31 March 2025

Dunleath Estates Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	8,041,914	4,616,663
Investments	7	10,980	10,980
		------------	------------
		8,052,894	4,627,643

Current assets

Stocks		439,056	361,437
Debtors	8	1,156,553	1,735,152
Cash at bank and in hand		530,909	100
		------------	------------
		2,126,518	2,096,689

Creditors: amounts falling due within one year	9	925,652		704,053
		------------		------------
Net current assets			1,200,866	1,392,636
			------------	------------
Total assets less current liabilities			9,253,760	6,020,279

Creditors: amounts falling due after more than one year	10	2,092,353	1,125,038
		------------	------------
Net assets		7,161,407	4,895,241
		------------	------------

Capital and reserves

Called up share capital	12	345,469	376,977
Revaluation reserve		3,500,000	–
Capital redemption reserve		139,531	108,023
Profit and loss account		3,176,407	4,410,241
		------------	------------
Shareholders funds		7,161,407	4,895,241
		------------	------------

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 comprehensive income has not been delivered.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Dunleath Estates Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 8 October 2025 , and are signed on behalf of the board by:

Richard Patrick Blakiston-Houston OBE
Director

Company registration number: NI006324

Dunleath Estates Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is The Estate Office, Ballywalter Park, Newtownards, Co Down, BT22 2PA.

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.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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.

Income 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.

Tangible assets

Freehold and leasehold land and buildings, apart from the dairy complex, have not been depreciated. Livestock have been valued on the herd basis.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Dairy building	-	2% straight line
Plant & machinery incorporated in dairy	-	5% straight line
Farm improvements	-	10% written down value

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.

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.

Stocks

Stock has been valued at the lower of cost and net realisable value. The cost of consumables is the purchase price. The cost of livestock is the market value less 40%. These bases are consistent with previous years.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 17 (2024: 17 ).

5. Tax on profit

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense/(income)	125,904	( 56,691)
	---------	--------
Tax on profit	125,904	( 56,691)
	---------	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Livestock Herd Basis	Farm Improvements	Total
	£	£	£	£	£
Cost or valuation
At 1 April 2024	2,432,100	5,254,887	388,741	987,919	9,063,647
Additions	–	312,664	15,260	27,500	355,424
Disposals	( 550)	( 186,950)	( 52,276)	–	( 239,776)
Revaluations	3,500,000	–	–	–	3,500,000
	------------	------------	---------	------------	-------------
At 31 March 2025	5,931,550	5,380,601	351,725	1,015,419	12,679,295
	------------	------------	---------	------------	-------------
Depreciation
At 1 April 2024	594,525	3,149,845	–	702,614	4,446,984
Charge for the year	23,781	273,344	–	31,281	328,406
Disposals	–	( 138,009)	–	–	( 138,009)
	------------	------------	---------	------------	-------------
At 31 March 2025	618,306	3,285,180	–	733,895	4,637,381
	------------	------------	---------	------------	-------------
Carrying amount
At 31 March 2025	5,313,244	2,095,421	351,725	281,524	8,041,914
	------------	------------	---------	------------	-------------
At 31 March 2024	1,837,575	2,105,042	388,741	285,305	4,616,663
	------------	------------	---------	------------	-------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 March 2025	124,692	15,820	140,512
	---------	--------	---------
At 31 March 2024	52,256	41,762	94,018
	---------	--------	---------

7. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	10,980
	--------
Impairment
At 1 April 2024 and 31 March 2025	–
	--------

Carrying amount
At 31 March 2025	10,980
	--------
At 31 March 2024	10,980
	--------

Investments represent a holding in Lakeland Dairies (NI) Limited, and is valued at cost.

8. Debtors

	2025	2024
	£	£
Trade debtors	154,322	126,013
Other debtors	1,002,231	1,609,139
	------------	------------
	1,156,553	1,735,152
	------------	------------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	247,884	320,174
Trade creditors	517,241	319,518
Corporation tax	125,884	22,887
Social security and other taxes	8,550	14,740
Other creditors	26,093	26,734
	---------	---------
	925,652	704,053
	---------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	2,005,605	1,077,272
Other creditors	86,748	47,766
	------------	------------
	2,092,353	1,125,038
	------------	------------

The collateral for the loan, as held by the bank, is a legal mortgage over certain agricultural lands at Ballywalter Park Farm, Ballywalter, Co Down.

11. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	2025	2024
	£	£
Not later than 1 year	26,093	26,734
Later than 1 year and not later than 5 years	86,748	47,766
	---------	--------
	112,841	74,500
	---------	--------

12. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
A ordinary shares of £ 1 each	200,000	200,000	200,000	200,000
B ordinary shares of £ 1 each	200,000	200,000	200,000	200,000
C ordinary shares of £ 1 each	10,000	10,000	10,000	10,000
D ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
E ordinary shares of £ 1 each	25,000	25,000	25,000	25,000
F ordinary shares of £1 each	20,000	20,000	20,000	20,000
G ordinary shares of £1 each	520,000	520,000	520,000	520,000
	------------	------------	------------	------------
	1,000,000	1,000,000	1,000,000	1,000,000
	------------	------------	------------	------------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
A ordinary shares of £ 1 each	30,219	30,219	61,727	61,727
B ordinary shares of £ 1 each	48,500	48,500	48,500	48,500
G ordinary shares of £1 each	266,750	266,750	266,750	266,750
	---------	---------	---------	---------
	345,469	345,469	376,977	376,977
	---------	---------	---------	---------

13. Contingencies

The company's bankers, The Northern Bank Limited, have guaranteed £30,644 in respect of bonds between the company and the Department of Environment.