Boucherwood Limited 31/03/2026 iXBRL

Company registration number: NI045886

Boucherwood Limited

Filleted financial statements

31 March 2026

Boucherwood Limited

Contents

Directors and other information

Directors responsibilities statement

Statement of financial position

Notes to the financial statements

Boucherwood Limited

Directors and other information


Directors	RO Morton	(Resigned 10 November 2025)
	FS McClure
	RJ Hegan
	KM Millington
	PG Hegarty	(Appointed 5 September 2025)


Secretary	PG Hegarty


Company number	NI045886


Registered office	3 Croft Hill
	Belfast
	BT8 6GX


Auditor	Hill Vellacott
	22 Great Victoria Street
	Belfast
	BT2 7BA




	Bankers	First Trust Bank
		35 University Road
		Belfast
		BT7 1ND


	Solicitors	King and Gowdy
		298 Upper Newtownards Road
		Belfast
		BT4 3EJ

Boucherwood Limited

Directors responsibilities statement

Year ended 31 March 2026

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 year. 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.

Boucherwood Limited

Statement of financial position

31 March 2026

		2026		2025
	Note	£	£	£	£

Fixed assets
Tangible assets	5	2,835,000		2,835,000
		_______		_______
			2,835,000		2,835,000

Current assets
Debtors	6	1,000		807
Cash at bank and in hand		121,893		152,764
		_______		_______
		122,893		153,571
Creditors: amounts falling due
within one year	7	( 116,603)		( 98,257)
		_______		_______
Net current assets			6,290		55,314
			_______		_______
Total assets less current liabilities			2,841,290		2,890,314

			_______		_______
Net assets			2,841,290		2,890,314
			_______		_______

Capital and reserves
Called up share capital	9		1,618,283		1,618,283
Share premium account	10		119,591		119,591
Profit and loss account	10		1,103,416		1,152,440
			_______		_______
Shareholders funds			2,841,290		2,890,314
			_______		_______

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.

These financial statements were approved by the board of directors and authorised for issue on 29 May 2026 , and are signed on behalf of the board by:

KM Millington

Director

Company registration number: NI045886

Boucherwood Limited

Notes to the financial statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Boucherwood Limited, 3 Croft Hill, Belfast, BT8 6GX.

The principal activity of the company is that of property investment.

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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

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 judgementsThere are no judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.Key sources of estimation uncertaintyAccounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year .

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.

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.

Investment property

Investment property is carried at fair value determined annually by directors and external valuers and is derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are 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. 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.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2025: Nil).

5. Tangible assets

	Freehold property	Total
	£	£
Cost
At 1 April 2025 and 31 March 2026	2,835,000	2,835,000
	_______	_______
Depreciation
At 1 April 2025 and 31 March 2026	-	-
	_______	_______
Carrying amount
At 31 March 2026	2,835,000	2,835,000
	_______	_______
At 31 March 2025	2,835,000	2,835,000
	_______	_______

Investment property

In February 2024 Osboure King performed a formal valuation of the property known as Elmwood House. A Market valuation of £2,680,000 determined based on an open market and existing use basis. The other investment property was valued by the directors on an open market value for existing use basis. The directors believe that these values represent the open market vlaue as at 31 March 2026.

6. Debtors

	2026	2025
	£	£
Other debtors	1,000	807
	_______	_______

7. Creditors: amounts falling due within one year

	2026	2025
	£	£
Corporation tax	53,632	52,994
Social security and other taxes	10,919	10,499
Other creditors	52,052	34,764
	_______	_______
	116,603	98,257
	_______	_______

The bank overdraft and loans are secured on the following: Legal mortgage/charges over properties at 74 Boucher Road and 39 Stockman's Lane Belfast. Mortgage debenture incorporating a fixed and floating charge over 39 Stockman's Lane. Unlimited cross company guarantee between Boucherwood Limited and Erdingwood Limited.

8. Deferred tax

The company has unrecognised deferred tax assets of £22,663 (2025 - £38,629).

9. Called up share capital

Authorised share capital

	2026		2025
	No	£	No	£
Ordinary shares shares of £ 1.00 each	1,618,283	1,618,283	1,618,283	1,618,283
	_______	_______	_______	_______

10. Reserves

Share premium account:This reserve records the amount above the nominal value received for shares sold, less transaction costs.

11. Summary audit opinion

The auditor's report dated 29 May 2026 was unqualified.

The senior statutory auditor was Eoin McMullan, ACA for and on behalf of Hill Vellacott

12. Related party transactions

The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any parent undertaking which is wholly owned by a member of that group.

13. Controlling party

Amelwood Limited, a company established in Northern Ireland, holds 100% of the equity share capital in Boucherwood Limited , and is the immediate parent. The ultimate controlling party are the board of Amelwood Limited.