Lissan Properties Omagh Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI651002

Lissan Properties Omagh Ltd

Filleted Unaudited Financial Statements

28 February 2025

Lissan Properties Omagh Ltd

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	4	587,216	589,939

Current assets

Debtors	5	670	2,642
Cash at bank and in hand		84,344	49,898
		--------	--------
		85,014	52,540

Creditors: amounts falling due within one year	6	585,201	581,152
		---------	---------
Net current liabilities		500,187	528,612
		---------	---------
Total assets less current liabilities		87,029	61,327
		--------	--------

Capital and reserves

Called up share capital	15	15
Profit and loss account	87,014	61,312
	--------	--------
Shareholders funds	87,029	61,327
	--------	--------

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.

For the year ending 28 February 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 .

These financial statements were approved by the board of directors and authorised for issue on 17 September 2025 , and are signed on behalf of the board by:

Mr R A Brady

Director

Company registration number: NI651002

Lissan Properties Omagh Ltd

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 12 Ballynahatty Road, Omagh, County Tyrone, BT78 1PN. The principal activity of the company is the letting of property.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered.

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

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

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:

	Fixtures and fittings	-	20% straight line

4. Tangible assets

	Freehold property	Plant and machinery	Fixtures and fittings	Total
	£	£	£	£
Cost
At 1 March 2024 and 28 February 2025	585,274	1,740	11,873	598,887
	---------	-------	--------	---------
Depreciation
At 1 March 2024	–	–	8,948	8,948
Charge for the year	–	–	2,723	2,723
	---------	-------	--------	---------
At 28 February 2025	–	–	11,671	11,671
	---------	-------	--------	---------
Carrying amount
At 28 February 2025	585,274	1,740	202	587,216
	---------	-------	--------	---------
At 29 February 2024	585,274	1,740	2,925	589,939
	---------	-------	--------	---------

5. Debtors

	2025	2024
	£	£
Trade debtors	150	2,309
Other debtors	520	333
	----	-------
	670	2,642
	----	-------

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,229	1,153
Social security and other taxes	7,039	6,966
Other creditors	574,933	573,033
	---------	---------
	585,201	581,152
	---------	---------

7. Directors' advances, credits and guarantees

During the year the directors advanced to the company the sum of £2,900 leaving a balance owed to the directors at the year end of £574,293 (2024: £571,393).