Kircubbin Properties Ltd Company accounts

COMPANY REGISTRATION NUMBER: NI012710

Kircubbin Properties Ltd

Unaudited Financial Statements

31 July 2025

Kircubbin Properties Ltd

Financial Statements

Year ended 31 July 2025

Contents	Page

Directors' report	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

Kircubbin Properties Ltd

Directors' Report

Year ended 31 July 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2025 .

Directors

The directors who served the company during the year were as follows:

Mr R Gilmore
Mr E Gilmore deceased
Mr J Gilmore deceased

Mr Edward Gilmore, a director of the company, died on 5 April 2024. Mr James Gilmore, a director of the company, died on 25 May 2025.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 8 April 2026 and signed on behalf of the board by:

Mr R Gilmore

Director

Registered office:

1 Blackhall Street

Kircubbin

Co Down

BT22 2QU

Kircubbin Properties Ltd

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Kircubbin Properties Ltd

Year ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kircubbin Properties Ltd for the year ended 31 July 2025, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of Kircubbin Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 18 August 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Kircubbin Properties Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kircubbin Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kircubbin Properties Ltd 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 Kircubbin Properties Ltd. You consider that Kircubbin Properties Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Kircubbin Properties Ltd. For this reason, we have not verified the 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.

AUBREY CAMPBELL ACCOUNTANTS LIMITED Chartered Accountants

631 Lisburn Road Belfast N. Ireland BT9 7GT

8 April 2026

Kircubbin Properties Ltd

Statement of Income and Retained Earnings

Year ended 31 July 2025

	2025	2024
Note	£	£

Administrative expenses	21,026	25,112
Other operating income	20,133	23,990
	--------	--------
Operating loss	( 893)	( 1,122)

Interest payable and similar expenses		211	1,015
		--------	--------
Loss before taxation	5	( 1,104)	( 2,137)

Tax on loss	–	–
	-------	-------
Loss for the financial year and total comprehensive income	( 1,104)	( 2,137)
	-------	-------

Retained losses at the start of the year	( 378,465)	( 376,328)
	---------	---------
Retained losses at the end of the year	( 379,569)	( 378,465)
	---------	---------

All the activities of the company are from continuing operations.

Kircubbin Properties Ltd

Statement of Financial Position

31 July 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	7		163	197

Current assets

Stocks		79,076	79,076
Debtors	8	21,847	21,904
		---------	---------
		100,923	100,980

Creditors: amounts falling due within one year	9	430,655		429,642
		---------		---------
Net current liabilities			329,732	328,662
			---------	---------
Total assets less current liabilities			( 329,569)	( 328,465)
			---------	---------
Net liabilities			( 329,569)	( 328,465)
			---------	---------

Kircubbin Properties Ltd

Statement of Financial Position (continued)

31 July 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	7,500	7,500
Other reserves	42,500	42,500
Profit and loss account	( 379,569)	( 378,465)
	---------	---------
Shareholders deficit	( 329,569)	( 328,465)
	---------	---------

These financial statements have been prepared 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'.

For the year ending 31 July 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 were approved by the board of directors and authorised for issue on 8 April 2026 , and are signed on behalf of the board by:

Mr R Gilmore

Director

Company registration number: NI012710

Kircubbin Properties Ltd

Notes to the Financial Statements

Year ended 31 July 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 1 Blackhall Street, Kircubbin, BT22 2QU, Co Down.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	Straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	20% reducing balance
Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	20% reducing balance

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks 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 stock to its present location and condition.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2025	2024
	£	£
Depreciation of tangible assets	34	40
	----	----

6. Intangible assets

	Goodwill
	£
Cost
At 1 August 2024 and 31 July 2025	17,995
	--------
Amortisation
At 1 August 2024 and 31 July 2025	17,995
	--------
Carrying amount
At 31 July 2025	–
	--------
At 31 July 2024	–
	--------

7. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost
At 1 August 2024 and 31 July 2025	138,584	23,307	14,752	176,643
	---------	--------	--------	---------
Depreciation
At 1 August 2024	138,584	23,110	14,752	176,446
Charge for the year	–	34	–	34
	---------	--------	--------	---------
At 31 July 2025	138,584	23,144	14,752	176,480
	---------	--------	--------	---------
Carrying amount
At 31 July 2025	–	163	–	163
	---------	--------	--------	---------
At 31 July 2024	–	197	–	197
	---------	--------	--------	---------

8. Debtors

	2025	2024
	£	£
Other debtors	21,847	21,904
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	1,481	4,027
Social security and other taxes	236	229
Other creditors	428,938	425,386
	---------	---------
	430,655	429,642
	---------	---------

10. Financial instruments

Where reduced disclosures are applied, disclosures from the Companies Act 2006 still need to be made regarding the fair value of the instruments in each category and the changes in value recognised in profit and loss. Disclosures of the significant assumptions underlying the valuation models and techniques used, and extent and nature of derivative instruments are also required.

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Gilmore	(282,614)	13,135	( 9,486)	( 278,965)
Mr E Gilmore deceased	(19,011)	3,125	( 9,000)	( 24,886)
Mr J Gilmore deceased	( 119,473)	5,015	( 9,000)	( 123,458)
	---------	--------	--------	---------
	( 421,098)	21,275	( 27,486)	( 427,309)
	---------	--------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr R Gilmore	( 282,332)	10,385	( 10,666)	( 282,613)
Mr E Gilmore deceased	( 13,323)	4,978	( 10,667)	( 19,012)
Mr J Gilmore deceased	( 113,728)	4,922	( 10,667)	( 119,473)
	---------	--------	--------	---------
	( 409,383)	20,285	( 32,000)	( 421,098)
	---------	--------	--------	---------

12. Related party transactions

The company was in receipt of management charge from businesses in which the Company Directors are partners or proprietors.