REGISTERED NUMBER: NI625172 (Northern Ireland)

FAIRWAYS CLOONAVIN LTD

Financial Statements

for the Period 1 December 2024 to 31 December 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Robert Anthony Dunlop

Kathryn Holly

Diarmuid McNamee

REGISTERED OFFICE:

10 Mark Street

Portrush

Co. Antrim

BT56 8BT

REGISTERED NUMBER:

NI625172 (Northern Ireland)

INDEPENDENT AUDITORS:

Cooper Parry Audit (Ireland) Limited

Statutory Auditor

Unit 7 Dyehouse

Linen Green

Dungannon

Co. Tyrone

BT71 7HB

NON-CURRENT ASSETS

Intangible assets

5

-

-

Property, plant and equipment

6

46,850

43,657

46,850

43,657

CURRENT ASSETS

Receivables

7

227,781

209,215

Cash at bank and in hand

318,213

315,811

545,994

525,026

PAYABLES

Amounts falling due within one year

8

(175,527

)

(600,836

)

NET CURRENT ASSETS/(LIABILITIES)

370,467

(75,810

)

TOTAL ASSETS LESS CURRENT LIABILITIES

417,317

(32,153

)

PROVISIONS FOR LIABILITIES

10

(11,311

)

(9,564

)

NET ASSETS/(LIABILITIES)

406,006

(41,717

)

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

405,906

(41,817

)

SHAREHOLDERS' FUNDS

406,006

(41,717

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 October 2026 and were signed on its behalf by:

Diarmuid McNamee - Director

1.	STATUTORY INFORMATION

Fairways Cloonavin Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements are prepared under the historical cost convention modified when necessary to include the revaluation of certain fixed assets.

The accounting policies detailed below have been applied consistently throughout the year.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The intangible asset was amortised over a 10 year period.

Property, plant and equipment

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. Cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Fixtures and fittings

- 25% Reducing Balance

Motor vehicles

- 25% Reducing Balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to Income Statement in the period to which they relate.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Cash at bank and in hand

Cash and cash equivalents includes cash in hand and deposits held at call with banks.

Related parties

The company discloses transactions with related parties which are not wholly owned within the group and material transactions with directors or other related parties in accordance with the requirements of Section 33 of FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. Related parties are considered to be those persons or entities that have control, joint control, significant influence, or are key management personnel of the company.

Transactions with related parties are recognised and measured at the agreed transaction value. Outstanding balances at the reporting date are included within debtors or creditors as appropriate. Any impairment of amounts due from related parties is recognised in the profit and loss account where necessary.

Details of material related party transactions, including the nature of the relationship, transaction amounts, outstanding balances and any provisions for doubtful debts, are disclosed in the notes to the financial statements where required by FRS 102 Section 33.

Share capital

Ordinary Shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Leasing commitments

Rent paid is recognised as an expense in the profit and loss account on an accruals basis over the period to which it relates. Any prepaid or accrued rental amounts are recognised within debtors or creditors, as appropriate, at the reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 48 (2024 - 63 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 31 December 2025

1,824,000

AMORTISATION

At 1 December 2024

and 31 December 2025

1,824,000

NET BOOK VALUE

At 31 December 2025

-

At 30 November 2024

-

6.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 December 2024

110,906

11,500

122,406

Additions

17,588

-

17,588

At 31 December 2025

128,494

11,500

139,994

DEPRECIATION

At 1 December 2024

67,896

10,853

78,749

Charge for period

14,231

164

14,395

At 31 December 2025

82,127

11,017

93,144

NET BOOK VALUE

At 31 December 2025

46,367

483

46,850

At 30 November 2024

43,010

647

43,657

7.	RECEIVABLES

2025

2024

£

£

Trade receivables

16,456

208,934

Amounts owed by group undertakings

204,027

-

Other receivables

7,298

281

227,781

209,215

The amounts owed by group undertakings are unsecured, interest-free and repayable on demand.

8.

PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade payables

1,454

1,972

Amounts owed to group undertakings

-

546,587

Taxation and social security

161,682

46,227

Other payables

12,391

6,050

175,527

600,836

The amounts owed to the group undertakings are unsecured, interest free and repayable on demand.

9.	LEASING AGREEMENTS

Minimum property lease payments fall due as follows:

2025

2024

£

£

Within one year

122,216

122,216

Between one and five years

489,264

489,264

611,480

611,480

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

11,311

9,564

Deferred

tax

£

Balance at 1 December 2024

9,564

Provided during period

1,747

Balance at 31 December 2025

11,311

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Share

1

100

100

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)

for and on behalf of Cooper Parry Audit (Ireland) Limited

13.	RELATED PARTY DISCLOSURES

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.

14.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Moylena Limited. The ultimate parent undertaking and controlling party is Joltin Limited, incorporated in the Republic of Ireland. The consolidated financial statements in which the company is included are available from the registered office of Joltin Limited.