Shadbolt Doors Limited 31/08/2025 iXBRL

Company registration number: NI715834

SHADBOLT DOORS LIMITED

FILLETED FINANCIAL STATEMENTS

31 August 2025

SHADBOLT DOORS LIMITED

FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 AUGUST 2025

_________________________________________________________________________________________

Contents

Directors and other information

Directors responsibilities statement

Balance sheet

Statement of changes in equity

Notes to the financial statements

SHADBOLT DOORS LIMITED

DIRECTORS AND OTHER INFORMATION

________________________________________________________________________________________


Directors	Damien O'Callaghan	(Appointed 15 May 2024)
	Damian Heron	(Appointed 15 May 2024)
	Neil Bradley	(Appointed 15 May 2024)
	Martin Blaney	(Appointed 15 May 2024)


Company number	NI715834


Registered office	2 St. Patricks Street
	Draperstown
	Magherafelt
	BT45 7AL


Business address	2 St. Patricks Street
	Draperstown
	Magherafelt
	BT45 7AL


Auditor	Kelly O'Neill Ltd
	15E Molesworth Street
	Cookstown
	Co. Tyrone
	BT80 8NX


Accountants	Kelly & O'Neill Ltd
	15E Molesworth Street
	Cookstown
	Co. Tyrone
	BT80 8NX




	Bankers	AIB Group (UK) Plc
		78 Wellington Street
		Ballymena
		BT43 6AF


	Solicitors	Doris & MacMahon
		63 James Street
		Cookstown
		Co. Tyrone
		BT80 8AE

SHADBOLT DOORS LIMITED

DIRECTORS RESPONSIBILITIES STATEMENT

PERIOD ENDED 31 AUGUST 2025

________________________________________________________________________________________

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial period. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgments and accounting estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

SHADBOLT DOORS LIMITED

BALANCE SHEET

31 AUGUST 2025

_________________________________________________________________________________________

		31/08/25
	Note	£	£

Fixed assets
Intangible assets	5	142,200
Tangible assets	6	631,737
		_______
			773,937

Current assets
Stocks		240,822
Debtors	7	1,019,638
Cash at bank and in hand		18,111
		_______
		1,278,571
Creditors: amounts falling due
within one year	8	( 477,343)
		_______
Net current assets			801,228
			_______
Total assets less current liabilities			1,575,165

Creditors: amounts falling due
after more than one year	9		( 4,662,861)
			_______
Net liabilities			( 3,087,696)
			_______

Capital and reserves
Called up share capital			1
Profit and loss account			( 3,087,697)
			_______
Shareholder deficit			( 3,087,696)
			_______

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 Profit and loss account has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 13 May 2026 , and are signed on behalf of the board by:

Damien O'Callaghan

Director

Company registration number: NI715834

SHADBOLT DOORS LIMITED

STATEMENT OF CHANGES IN EQUITY

PERIOD ENDED 31 AUGUST 2025

_______________________________________________________________________________

	Called up share capital	Profit and loss account	Total
	£	£	£


At 15 May 2024	-	-	-

Loss for the period		( 3,087,697)	( 3,087,697)
	_______	_______	_______
Total comprehensive income for the period	-	( 3,087,697)	( 3,087,697)

Issue of shares	1		1
	_______	_______	_______
Total investments by and distributions to owners	1	-	1

	_______	_______	_______
At 31 August 2025	1	( 3,087,697)	( 3,087,696)
	_______	_______	_______

SHADBOLT DOORS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD ENDED 31 AUGUST 2025

_______________________________________________________________________________________

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 2 St. Patricks Street, Draperstown, Magherafelt, BT45 7AL.

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'.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

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	-	10 %	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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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	-	10 %	straight line
Fittings fixtures and equipment	-	25 %	straight line
Motor vehicles	-	25 %	straight line

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

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

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 stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Going Concern

During the period ended 31 August 2025 the company made a loss of £3,087,697 and net liabilities of £3,087,696. Upon incorporation Shadbolt Doors Ltd purchased assets of a company which was in administration. These financial statements include the write down of balances in the statement of financial position to reflect their market value at the year end. With the support of related companies and an ongoing plan to ensure the commercial viability of the company, the directors consider it appropriate to adopt the going concern basis in preparing the financial statements.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 40

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 15 May 2024	-	-
Additions	158,000	158,000
	_______	_______
At 31 August 2025	158,000	158,000
	_______	_______
Amortisation
At 15 May 2024	-	-
Charge for the period	15,800	15,800
	_______	_______
At 31 August 2025	15,800	15,800
	_______	_______
Carrying amount
At 31 August 2025	142,200	142,200
	_______	_______

6. Tangible assets

	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£
Cost
At 15 May 2024	-	-	-	-
Additions	351,369	304,764	50,690	706,823
	_______	_______	_______	_______
At 31 August 2025	351,369	304,764	50,690	706,823
	_______	_______	_______	_______
Depreciation
At 15 May 2024	-	-	-	-
Charge for the year	38,650	30,149	6,287	75,086
	_______	_______	_______	_______
At 31 August 2025	38,650	30,149	6,287	75,086
	_______	_______	_______	_______
Carrying amount
At 31 August 2025	312,719	274,615	44,403	631,737
	_______	_______	_______	_______

7. Debtors

			31/08/25
			£
	Trade debtors		439,935
	Other debtors		579,703
			_______
			1,019,638
			_______

8. Creditors: amounts falling due within one year

			31/08/25
			£
	Trade creditors		350,730
	Social security and other taxes		44,493
	Other creditors		82,120
			_______
			477,343
			_______

9. Creditors: amounts falling due after more than one year

			31/08/25
			£
	Amounts owed to group undertakings and undertakings in which the company has a participating interest		4,662,861
			_______

10. Summary audit opinion

The auditor's report dated 13 May 2026 was unqualified.

The senior statutory auditor was Cathal O'Neill FCA for and on behalf of Kelly O'Neill Ltd

11. Related party transactions

The company is exempt under the terms of FRS8 "Related Party Disclosures" from disclosing related party transactions with entities that are part of the group.

12. Controlling party

There is no ultimate controlling party of the company.