Woodvale Lowry JV Limited iXBRL

Company Registration Number: NI702220

Woodvale Lowry JV Limited

Unaudited Financial Statements

for the financial year ended 30 September 2025

Woodvale Lowry JV Limited

Company Registration Number: NI702220

BALANCE SHEET

as at 30 September 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

30,490

─────────

Current Assets

Stocks

8,642

Debtors

713,652

163,731

Cash and cash equivalents

5,945,455

400,002

─────────

6,667,749

563,733

─────────

Creditors: amounts falling due within one year

(5,514,308)

(156,436)

─────────

Net Current Assets

1,153,441

407,297

─────────

Total Assets less Current Liabilities

1,183,931

407,297

Creditors:

amounts falling due after more than one year

(110,707)

(400,000)

Provisions for liabilities

(7,622)

─────────

Net Assets

1,065,602

7,297

═════════

Capital and Reserves

Called up share capital

Retained earnings

1,065,600

7,295

─────────

Shareholders' Funds

1,065,602

7,297

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.

For the financial year ended 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Approved by the Board and authorised for issue on 2 June 2026 and signed on its behalf by



________________________________			________________________________
Mr Robert Ewing			Mr Ian Lowry
Director			Director

Woodvale Lowry JV Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 30 September 2025

General Information

Woodvale Lowry JV Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI702220. The registered office of the company is 11 Abbey Street, Omagh, Tyrone, BT78 1BZ, Northern Ireland which is also the principal place of business of the company. The principal activity of the company is that of construction services. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 30 September 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

25% Reducing balance

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Work in progress includes labour and attributable overheads.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Significant accounting judgements and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The following judgements have been made in the process of applying the accounting policies that have had the most significant effect on amounts recognised in the financial statements:

Amounts recoverable on contract

When the outcome of a construction contract can be estimated reliably and it is probable that the contract will be profitable, contract revenue and costs are recognised over the period of the contract by reference to the stage of completion using the 'percentage-of-completion method' to determine the appropriate amount to recognise in a given period. Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately.


4.	Tangible assets
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 October 2024	-	-
	Additions	35,375	35,375
		─────────	─────────
	At 30 September 2025	35,375	35,375
		─────────	─────────
	Depreciation
	At 1 October 2024	-	-
	Charge for the financial year	4,885	4,885
		─────────	─────────
	At 30 September 2025	4,885	4,885
		─────────	─────────
	Net book value
	At 30 September 2025	30,490	30,490
		═════════	═════════


5.	Stocks	2025	2024
		£	£

	Work in progress	8,642	-
		═════════	═════════

	The replacement cost of stock did not differ significantly from the figures shown.


6.	Debtors	2025	2024
		£	£

	Trade debtors	192,512	-
	Amounts recoverable on long term work-in-progress	-	159,127
	Other debtors	1,500	-
	Taxation (Note 9)	-	3,558
	Prepayments and accrued income	519,640	1,046
		─────────	─────────
		713,652	163,731
		═════════	═════════


7.	Creditors	2025	2024
	Amounts falling due within one year	£	£

	Trade creditors	1,301,332	21,348
	Taxation (Note 9)	3,430,535	1,712
	Amounts payable on long term work-in-progress	516,937	-
	Accruals	265,504	133,376
		─────────	─────────
		5,514,308	156,436
		═════════	═════════


8.	Creditors	2025	2024
	Amounts falling due after more than one year	£	£

	Loans from related parties	110,707	400,000
		═════════	═════════

	Loans
	Repayable between two and five years	110,707	400,000
		═════════	═════════


9.	Taxation	2025	2024
		£	£

	Debtors:
	VAT	-	3,558
		═════════	═════════
	Creditors:
	VAT	3,077,390	-
	Corporation tax	353,145	1,712
		─────────	─────────
		3,430,535	1,712
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Total

Total

allowances

2025

2024

At financial year start

Charged to profit and loss

7,622

7,622

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At financial year end

7,622

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11.

Capital commitments

The company had no material capital commitments at the financial year-ended 30 September 2025.

12.

Related party transactions

The company is jointly controlled by Woodvale Construction Company Ltd and Lowry Building & Civil Engineering Ltd, each of which holds 50% of the issued share capital.

During the year, the company entered into the following transactions under normal commercial terms with Woodvale Construction Company Ltd, a shareholder:

Transactions:

Services supplied by Woodvale Construction Company Ltd to the company amounted to £12,743,481 while sales by the company to Woodvale Construction Company Ltd amounted to £111,359 (excluding VAT).

Loan transactions:

At the beginning of the year, the company owed £200,000 to Woodvale Construction Company Ltd. During the year, Woodvale Construction Company Ltd advanced loan funding of £500,000 to the company. The company repaid £700,000 to Woodvale Construction Company Ltd during the year leaving a closing balance due at the year end of NIL.

At the year end, the company was owed £71,304 by Woodvale Construction Company Ltd, which is included within trade debtors. There were no amounts owed by the company to Woodvale Construction Company Ltd at the year end.

During the year, the company entered into the following transactions under normal commercial terms with Lowry Building & Civil Engineering Ltd, a shareholder:

Transactions:

Purchases and services supplied by Lowry Building & Civil Engineering Ltd to the company amounted to £11,400,380, while sales by the company to Lowry Building & Civil Engineering Ltd amounted to £181,970 (excluding VAT).

Loan transactions:

At the beginning of the year, the company owed £200,000 to Lowry Building & Civil Engineering Ltd. During the year, Lowry Building & Civil Engineering Ltd advanced loan funding of £610,707 to the company. The company repaid £700,000 to Lowry Building & Civil Engineering Ltd during the year leaving a closing balance of £110,707 owed to Lowry Building & Civil Engineering Ltd from the company at the year end. This is included in the creditors section of the balance sheet.

At the year end, the company was owed £121,208 by Lowry Building & Civil Engineering, which is included within trade debtors. At the year end, the company owed £163,869 to Lowry Building & Civil Engineering, which is included within trade creditors

13.

Post-Balance Sheet Events

There have been no significant events affecting the company since the financial year-end.