Loughview Homes Limited iXBRL

Company Registration Number: NI021916

Loughview Homes Limited

Unaudited Financial Statements

for the financial year ended 31 March 2025

Loughview Homes Limited

DIRECTOR AND OTHER INFORMATION


Director	Michael Curran


Company Secretary	Paul Steele


Company Registration Number	NI021916


Registered Office and Business Address	26 Somerton Industrial Park
	Dargan Crescent
	Belfast
	BT3 9JB


Accountants	Quarter
	Chartered Accountants
	St Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 2LG


Bankers	Bank of Ireland
	Antrim Road
	Glengormley
	BT36 7QN

Loughview Homes Limited

CHARTERED ACCOUNTANTS REPORT

to the Director on the Compilation of the unaudited financial statements of Loughview Homes Limited

for the financial year ended 31 March 2025

In accordance with the engagement letter dated 24/11/2025 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 March 2025 as set out on pages to which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of Loughview Homes Limited, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Director that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by and have complied with the relevant ethical guidance laid down by relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position for the year ended 31 March 2025 your duty to ensure that Loughview Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Loughview Homes Limited. You consider that Loughview Homes Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Loughview Homes Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

__________________________________

QUARTER

Chartered Accountants

St Anne's House

15 Church Street

Cathedral Quarter

Belfast

BT1 2LG

17 December 2025

Loughview Homes Limited

Company Registration Number: NI021916

STATEMENT OF FINANCIAL POSITION

as at 31 March 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Financial assets

3,554,435

3,582,578

─────────

Payables: amounts falling due within one year

(25,132)

(33,105)

─────────

Net Current Liabilities

(25,132)

(33,105)

─────────

Total Assets less Current Liabilities

3,529,303

3,549,473

═════════

Equity

Called up share capital

50,000

50,000

Share premium account

16,000

16,000

Other reserves

30,000

30,000

Retained earnings

3,433,303

3,453,473

─────────

Equity attributable to owners of the company

3,529,303

3,549,473

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

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

The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 17 December 2025



________________________________
Michael Curran
Director

Loughview Homes Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 March 2025

General Information

Loughview Homes Limited is a company limited by shares incorporated in Northern Ireland. 26 Somerton Industrial Park, Dargan Crescent, Belfast, BT3 9JB is the registered office. 68 Fortwilliam Park, Belfast BT15 4AS is the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 March 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Consolidated accounts

The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.

Financial assets

Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.

Trade and other payables

Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.


3.	Employees

	The average monthly number of employees, including director, during the financial year was;

		2025	2024
		Number	Number

	Company Secretary	1	1
	Director	1	1
		─────────	─────────
		2	2
		═════════	═════════


4.	Financial fixed assets
		Group and	Other	Total
		participating	investments
		interests/
		joint ventures
	Investments	£	£	£
	Cost
	At 1 April 2024	12,000	3,570,578	3,582,578
	Additions	-	(7,388)	(7,388)
	Disposals	-	(20,755)	(20,755)
		─────────	─────────	─────────
	At 31 March 2025	12,000	3,542,435	3,554,435
		─────────	─────────	─────────
	Carrying amount
	At 31 March 2025	12,000	3,542,435	3,554,435
		═════════	═════════	═════════
	At 31 March 2024	12,000	3,570,578	3,582,578
		═════════	═════════	═════════

Payables

2025

2024

Amounts falling due within one year

Amounts owed to group undertakings

12,000

12,000

Taxation (Note 6)

13,132

21,105

─────────

25,132

33,105

═════════

Bank of Ireland holds security over the following:

Guarantee: 07/11/06 Amount £300,000 from Mr Michael Curran and Mr Paul Steele.

Guarantee: 05/05/11 Amount £475,215.07 from PSC Management (NI) LLP.

Guarantee: 05/05/11 Amount £655,283.49 from PSC Management (NI) LLP.

Legal Charge over Nursing Home at 68 Fortwilliam Park, Belfast, Dealing Not Yet Entered.

Legal Charge over Deanfield Private Nursing Home.

Intercompany cross g'tee from Cheslock Ltd ifo Loughview Homes Ltd countercovered by floating debenture over Cheslock Ltd.


6.	Taxation	2025	2024
		£	£

	Payables:
	Corporation tax	13,132	21,105
		═════════	═════════

Reserves

Share Premium Reserve

The amount carried forward is the premium that arose from the issue of shares in 2010.

Related party transactions

Transactions with group companies include

Cheslock Limited

Loughview Homes Limited owns 100% of the shareholding in Cheslock Limited. Paul Steele & Michael Curran, directors and shareholders in Loughview Homes Limited are also directors in Cheslock Limited.

Amounts owing to Cheslock Limited

Opening Balance £12,000

Movement during the year £NIL

Closing Balance £12,000

PSC Management (NI) LLP

Paul Steele & Michael Curran are members of PSC Management (NI) LLP and directors and shareholders in Loughview Homes Limited. Loughview Homes Limited is also a member of PSC Management (NI) LLP.

The following movements occurred within the investments balance of Loughview Homes Limited during the year ended 31 March 2025:-

Amounts owed from PSC Management (NI) LLP

Opening Balance £3,570,578

Movement during the year £28,143

Closing Balance £3,542,435