Oldforge Properties Limited 30/04/2025 iXBRL

Company registration number: NI052088

Oldforge Properties Limited

Unaudited filleted abridged financial statements

for the year ended

30 April 2025

Oldforge Properties Limited

Abridged statement of financial position

30 April 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Investments	5	10,000		10,000
		_______		_______
			10,000		10,000

Current assets
Properties held for resale		190,747		190,747
Debtors		56,158		57,168
Cash at bank and in hand		7,033		6,164
		_______		_______
		253,938		254,079
Creditors: amounts falling due
within one year	6	( 432,797)		( 426,619)
		_______		_______
Net current liabilities			( 178,859)		( 172,540)
			_______		_______
Total assets less current liabilities			( 168,859)		( 162,540)

			_______		_______
Net liabilities			( 168,859)		( 162,540)
			_______		_______

Capital and reserves
Called up share capital	7		400		400
Profit and loss account			( 169,259)		( 162,940)
			_______		_______
Shareholders deficit			( 168,859)		( 162,540)
			_______		_______

For the year ending 30 April 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 financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 April 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 24 April 2026 , and are signed on behalf of the board by:

Mr D A Mahon

Director

Company registration number: NI052088

Oldforge Properties Limited

Notes to the financial statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Northern Bank House, Main Street, Kesh, Co. Fermanagh, BT93 1TF.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on a going concern basis under the historical cost convention.The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements:There are no critical judgements in applying the entity's accounting policies. Key sources of estimation uncertainty:There are no critical accounting estimates and assumptions.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Properties held for resale

Properties held for resale are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the properties to their present condition.

Financial instruments

The company only enters into basic financial instruments transactions that result in recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short term instrument constitute a financing transaction, like the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an outright short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank facilities, are initially valued at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method.

Debtors

Short term debtors are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method, less any impairment.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2024: Nil).

5. Investments


		£
	Cost
	At 1 May 2024 and 30 April 2025	10,000
		_______
	Carrying amount
	At 30 April 2025	10,000
		_______
	At 30 April 2024	10,000
		_______

6. Creditors: amounts falling due within one year

The bank loans are secured on the company's properties held for resale.

7. Called up share capital

Issued, called up and fully paid

	2025		2024
	No	£	No	£
Ordinary shares of £ 1.00 each	400	400	400	400
	_______	_______	_______	_______