REGISTERED NUMBER: NI030126 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 30 November 2024

for

Lagmore Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs C J Fitzsimons

REGISTERED OFFICE:

BMK Accounting Limited

43 Lockview Road

Belfast

Co. Antrim

BT9 5FJ

REGISTERED NUMBER:

NI030126 (Northern Ireland)

ACCOUNTANTS:

BMK Accounting Limited

43 Lockview Road

Belfast

Antrim

BT9 5FJ

FIXED ASSETS

Tangible assets

4

3,958

4,749

Investment property

5

76,004

76,004

79,962

80,753

CURRENT ASSETS

Stocks

272,095

410,830

Debtors

6

8,508

7,328

Cash at bank

1,573,991

1,256,184

1,854,594

1,674,342

CREDITORS

Amounts falling due within one year

7

62,980

27,594

NET CURRENT ASSETS

1,791,614

1,646,748

TOTAL ASSETS LESS CURRENT LIABILITIES

1,871,576

1,727,501

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,871,574

1,727,499

1,871,576

1,727,501

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps 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 Sections 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 October 2025 and were signed by:

Mrs C J Fitzsimons - Director

1.	STATUTORY INFORMATION

Lagmore Developments Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability.

The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument.

The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1 December 2023

16,468

4,588

21,056

Additions

-

529

529

At 30 November 2024

16,468

5,117

21,585

DEPRECIATION

At 1 December 2023

12,561

3,746

16,307

Charge for year

977

343

1,320

At 30 November 2024

13,538

4,089

17,627

NET BOOK VALUE

At 30 November 2024

2,930

1,028

3,958

At 30 November 2023

3,907

842

4,749

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2023

and 30 November 2024

76,004

NET BOOK VALUE

At 30 November 2024

76,004

At 30 November 2023

76,004

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Other debtors

8,508

7,328

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.24

30.11.23

£

£

Taxation and social security

51,591

15,955

Other creditors

11,389

11,639

62,980

27,594