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Registration number: NI011353

Dunfane Development Co. Limited
Unaudited Filleted Financial Statements
for the Year Ended 30 June 2025

Dunfane Development Co. Limited

Contents

Balance Sheet | 1 to 2
Notes to the Financial Statements | 3 to 7

Dunfane Development Co. Limited

(Registration number: NI011353)
Balance Sheet as at 30 June 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Development Land | 4 | 123,570 | 123,570
Tangible assets | 5 | 50,432 | 59,236
Investment property | 6 | 1,785,000 | 1,524,500
Investments | 7 | 69,630 | 69,630
|  | 2,028,632 | 1,776,936
Current assets |  |  |
Stocks | 8 | 884,000 | 637,800
Debtors | 9 | 41,573 | 39,349
Cash at bank and in hand |  | 2,570,592 | 2,721,366
|  | 3,496,165 | 3,398,515
Creditors: Amounts falling due within one year | 10 | (51,820) | (50,709)
Net current assets |  | 3,444,345 | 3,347,806
Net assets |  | 5,472,977 | 5,124,742
Capital and reserves |  |  |
Called up share capital | 11 | 37,500 | 37,500
Retained earnings |  | 5,435,477 | 5,087,242
Shareholders' funds |  | 5,472,977 | 5,124,742

Dunfane Development Co. Limited

(Registration number: NI011353)
Balance Sheet as at 30 June 2025

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 March 2026 and signed on its behalf by:

......................................... Mr John Murray Director

Dunfane Development Co. Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

1 | General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
90 Elmwood
Fenagh Road
Cullybackey
BALLYMENA
BT43 5PY

These financial statements were authorised for issue by the Board on 10 March 2026.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these financial statements is sterling, and all amounts have been rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. As at the date of sign off of the financial statements, the directors believe that the company will continue as a going concern and be able to realise its assets , and discharge its liabilities in the normal course of business.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Dunfane Development Co. Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

Tax

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The company assesses at each reporting date whether tangible fixed assets are impaired.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Motor vehicles | 15% reducing balance

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation, or for both. Investment properties are initailly recognised at cost.
Subsequent to initial recognition, investment properties whose fair value can be reliably measured are carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss in they period in which they arise. No depreciation is provided on these properties.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Dunfane Development Co. Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4 | Development Land

| Site at Cullybackey £ | Total £
Cost or valuation
At 1 July 2024 | 123,570 | 123,570
At 30 June 2025 | 123,570 | 123,570
Carrying amount
At 30 June 2025 | 123,570 | 123,570
At 30 June 2024 | 123,570 | 123,570

5 | Tangible assets

| Motor vehicles £ | Other tangible assets £ | Total £
Cost or valuation
At 1 July 2024 | 77,220 | 78,174 | 155,394
At 30 June 2025 | 77,220 | 78,174 | 155,394
Depreciation
At 1 July 2024 | 17,984 | 78,174 | 96,158
Charge for the year | 8,804 | - | 8,804
At 30 June 2025 | 26,788 | 78,174 | 104,962
Carrying amount
At 30 June 2025 | 50,432 | - | 50,432
At 30 June 2024 | 59,236 | - | 59,236

Dunfane Development Co. Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

6 | Investment properties

| 2025 £
At 1 July | 1,524,500
Fair value adjustments | 260,500
At 30 June | 1,785,000

Fair value has been calculated by Ryan Gregg of Rainey & Gregg who is external to the company

7 | Investments

| 2025 £ | 2024 £
Other Investments | 69,630 | 69,630

8 | Stocks

| 2025 £ | 2024 £
Work in progress | 884,000 | 637,800

9 | Debtors

| 2025 £ | 2024 £
Prepayments | 19,975 | 17,788
Other debtors | 21,598 | 21,561
| 41,573 | 39,349

10 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Trade creditors |  | 28,524 | 27,508
Amounts due to related parties | 13 | 3,342 | 3,341
Social security and other taxes |  | 2,521 | 2,967
Accruals |  | 17,433 | 16,893
|  | 51,820 | 50,709

Dunfane Development Co. Limited

Notes to the Financial Statements for the Year Ended 30 June 2025

11 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary shares of £1 each | 37,500 | 37,500 | 37,500 | 37,500

12 | Dividends

Interim dividends paid

|  | 2025 £ |  | 2024 £
Interim dividend of £4.00 per each Ordinary shares |  | 150,000 |  | 150,000

13 | Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 100,360 | 166,934
Contributions paid to money purchase schemes | 30,044 | 30,130
| 130,404 | 197,064