KH (Balmoral) Commercial Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: NI623903 (Northern Ireland)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

KH (BALMORAL) COMMERCIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

6

DIRECTORS:

D A Burrows

B T Connolly

J P Morgan

REGISTERED OFFICE:

Crobane Enterpise Park

25 Hilltown Road

Newry

BT34 2LJ

REGISTERED NUMBER:

NI623903 (Northern Ireland)

AUDITORS:

Baker Tilly Mooney Moore

Statutory Auditors

17 Clarendon Road

Belfast

BT1 3BG

BANKERS:

Danske Bank

Donegal Square West

Belfast

BT1 6JS

FIXED ASSETS

Tangible assets

4

108,176

247,260

Investments

5

100

108,276

247,360

CURRENT ASSETS

Debtors

6

4,452,273

3,752,582

Cash at bank

4,229

11,256

4,456,502

3,763,838

CREDITORS

Amounts falling due within one year

7

5,093,062

4,590,178

NET CURRENT LIABILITIES

(636,560

)

(826,340

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(528,284

)

(578,980

)

CREDITORS

Amounts falling due after more than one
year

8

10,213

21,245

NET LIABILITIES

(538,497

)

(600,225

)

CAPITAL AND RESERVES

Called up share capital

180

Retained earnings

(538,677

)

(600,405

)

(538,497

)

(600,225

)

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 Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

J P Morgan - Director

B T Connolly - Director

1.	STATUTORY INFORMATION

KH (Balmoral) Commercial 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The company made a profit during the year of £61,728 and the balance sheet as at 31 December 2024 has net current liabilities of £636,560. Post year end the subsidiary company sold one of their plots and the directors have take this into account and considered future plans of the company and subsidiary company and believe that it is appropriate to prepare the financial statements on the going concern basis.

Significant judgements and estimates

In preparing these financial statements the directors do not deem there to be any significant judgements or estimates.

Tangible fixed assets

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

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise of a small group.

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings

All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

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.

Impairment of fixed assets

Fixed assets are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. Fixed assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

309,075

DEPRECIATION

At 1 January 2024

61,815

Charge for year

139,084

At 31 December 2024

200,899

NET BOOK VALUE

At 31 December 2024

108,176

At 31 December 2023

247,260

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

The investment represents 100 £1 ordinary shares (100%) in KH (Balmoral) Developments Ltd a company incorporated in the United Kingdom.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Amounts owed by group undertakings

4,369,778

3,717,576

Other debtors

82,495

35,006

4,452,273

3,752,582

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

9,937

Trade creditors

95,157

-

Amounts owed to group undertakings

4,773,738

4,022,471

Other creditors

214,230

557,770

5,093,062

4,590,178

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

10,213

21,245

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Eimear Brown (Senior Statutory Auditor)

for and on behalf of Baker Tilly Mooney Moore

10.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

The company has balances owing to related parties of £197,165 (2023: £519,330) as included in other creditors The amounts are unsecured interest free and repayable on demand.