Company registration number NI002864 (Northern Ireland)
THE CLANDEBOYE ESTATE COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
THE CLANDEBOYE ESTATE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
THE CLANDEBOYE ESTATE COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,742,274
8,024,784
Investments
3
2
2
7,742,276
8,024,786
Current assets
Stocks
254,067
285,318
Debtors
5
1,500,014
1,667,013
Cash at bank and in hand
355,513
471,501
2,109,594
2,423,832
Creditors: amounts falling due within one year
6
(797,310)
(1,003,791)
Net current assets
1,312,284
1,420,041
Total assets less current liabilities
9,054,560
9,444,827
Creditors: amounts falling due after more than one year
7
(3,296,606)
(3,691,412)
Deferred income
(425,505)
(386,336)
Net assets
5,332,449
5,367,079
Capital and reserves
Called up share capital
8
125,000
125,000
Profit and loss reserves
5,207,449
5,242,079
Total equity
5,332,449
5,367,079

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

THE CLANDEBOYE ESTATE COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
2025
2024
Notes
£
£
£
£
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 November 2025 and are signed on its behalf by:
Inch 19 Ltd
Director
Company Registration No. NI002864
THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

The Clandeboye Estate Company Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is The Estate Office, Clandeboye Estate, Bangor, Co Down, Northern Ireland, BT19 1RN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% reducing balance
Farm equipment
15% Reducing balance
Fixtures, fittings & equipment
15% Reducing balance
Anaerobic digester
15% Reducing balance
Tractor and vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
19
41
THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Fixed asset investments
2025
2024
£
£
Other investments other than loans
2
2
THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 7 -
4
Tangible fixed assets
Land and buildings Freehold
Farm equipment
Fixtures, fittings & equipment
Anaerobic digester
Tractor and vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2024
9,914,469
158,523
1,251,937
1,661,529
185,198
13,171,656
Additions
228,816
-
0
18,686
-
0
47,000
294,502
Disposals/grants
(300,000)
-
0
-
0
-
0
-
0
(300,000)
At 31 March 2025
9,843,285
158,523
1,270,623
1,661,529
232,198
13,166,158
Depreciation and impairment
At 1 April 2024
2,668,419
134,988
970,072
1,209,717
163,676
5,146,872
Depreciation charged in the year
143,497
3,530
45,082
67,772
17,131
277,012
At 31 March 2025
2,811,916
138,518
1,015,154
1,277,489
180,807
5,423,884
Carrying amount
At 31 March 2025
7,031,369
20,005
255,469
384,040
51,391
7,742,274
At 31 March 2024
7,246,050
23,535
281,865
451,812
21,522
8,024,784
THE CLANDEBOYE ESTATE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
66,984
105,311
Prepayments
191,663
143,245
Amounts due from subsidiary
1,181,781
1,377,760
VAT
38,893
-
Other debtors
20,000
40,000
S455 tax debtor
694
694
1,500,015
1,667,010
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
446,314
555,023
Corporation tax
33,001
43,748
Other taxation and social security
-
0
39,576
Other creditors (including directors loan)
302,449
321,697
Accruals and deferred income
15,546
43,747
797,310
1,003,791
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,296,606
3,691,412
8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
125,000 Ordinary shares of £1 each
125,000
125,000
125,000
125,000
9
Controlling Party

The Estate of the late Marchioness of Dufferin and Ava is the ultimate controlling party by virtue of it's controlling interest in the company's share capital.

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