COMPANY REGISTRATION NUMBER:
NI030836
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Straben Developments Limited |
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Filleted Unaudited Financial Statements |
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Straben Developments Limited |
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Year ended 30 September 2025
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Officers and professional advisers |
1 |
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Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
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Statement of financial position |
3 |
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Notes to the financial statements |
4 |
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Straben Developments Limited |
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Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Straben Developments Limited |
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Year ended 30 September 2025
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 September 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Maneely Mc Cann Chartered Accountants
Chartered Accountants
Aisling House
50 Stranmillis Embankment
Belfast
BT9 5FL
25 June 2026
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Straben Developments Limited |
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Statement of Financial Position |
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30 September 2025
Current assets
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Debtors |
5 |
8,418,401 |
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8,417,121 |
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Cash at bank and in hand |
63,873 |
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130,026 |
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------------ |
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------------ |
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8,482,274 |
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8,547,147 |
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Creditors: amounts falling due within one year |
6 |
8,472,187 |
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8,532,887 |
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Net current assets |
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10,087 |
14,260 |
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-------- |
-------- |
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Total assets less current liabilities |
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10,087 |
14,260 |
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-------- |
-------- |
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Net assets |
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10,087 |
14,260 |
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-------- |
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Capital and reserves
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Called up share capital |
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1,000 |
1,000 |
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Profit and loss account |
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9,087 |
13,260 |
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-------- |
-------- |
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Shareholders funds |
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10,087 |
14,260 |
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-------- |
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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 income and retained earnings has not been delivered.
For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
25 June 2026
, and are signed on behalf of the board by:
Company registration number:
NI030836
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Straben Developments Limited |
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Notes to the Financial Statements |
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Year ended 30 September 2025
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 1 Ground Floor Adelaide Exchange, 24-26 Adelaide Street, Belfast, BT2 8GD.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
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.
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.
Investments
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Shares in group undertakings |
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£ |
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Cost |
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At 1 October 2024 |
2 |
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Disposals |
(
2) |
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---- |
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At 30 September 2025 |
– |
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---- |
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Impairment |
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At 1 October 2024 |
2 |
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Disposals |
(
2) |
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---- |
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At 30 September 2025 |
– |
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---- |
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Carrying amount |
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At 30 September 2025 |
– |
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---- |
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At 30 September 2024 |
– |
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---- |
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5.
Debtors
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2025 |
2024 |
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£ |
£ |
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Trade debtors |
182,971 |
182,971 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
8,232,223 |
8,229,943 |
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Other debtors |
3,207 |
4,207 |
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8,418,401 |
8,417,121 |
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6.
Creditors:
amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Trade creditors |
13,996 |
13,996 |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
39,322 |
99,322 |
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Other creditors |
8,418,869 |
8,419,569 |
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8,472,187 |
8,532,887 |
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7.
Related party transactions
Name of related parties Benmore Developments (NI) Limited Stranmillis Investments Limited Mr K McKay Description of the relationship The Company is a wholly owned subsidiary of Straben Limited, a company incorporated in Northern Ireland. Stranmillis Investments Limited, a company incorporated in Northern Ireland along with Benmore Developments (NI) Limited each hold 50% of the ordinary share capital of Straben Limited. The director, Mr K McKay is also a director of Benmore Developments (NI) Limited. Description of the transactions and the amounts involved At 30 September 2025 the company owed £39,322 (2024: £99,322) to Stranmillis Investments Limited. At 30 September 2025 Mr K McKay was owed £Nil (2024: £Nil) from the company. At 30 September 2025 the company was owed £220,385 (2024: £220,385) by Benmore Developments (NI) Limited. The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with the Financial Reporting Standard 102 Section 1A Appendix C, Related Party Disclosures.
8.
Controlling party
The Company is a wholly owned subsidiary of Straben Limited, a company incorporated in Northern Ireland. Benmore Developments (NI) Limited, a company incorporated in Northern Ireland and Stranmillis Investments Limited, a company incorporated in Northern Ireland each hold 50% of the ordinary share capital of Straben Limited and as such both are considered to be the ultimate controlling parties.