REGISTERED NUMBER: NI615558 (Northern Ireland)

Armagh Business Park Limited

Unaudited Financial Statements

for the Year Ended 30 April 2026

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

8

Directors:

Mr S Draffin

Mr P A Leeman

Mr T F Wilson

Secretary:

Mrs A Leeman

Registered office:

Armagh Business Park

Postbox 19, Dean Swift Building

50 Hamiltonsbawn Road

Armagh

Co Armagh

BT60 1HW

Registered number:

NI615558 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Property, plant and equipment

4

5,052,319

5,059,001

Current assets

Receivables

5

294,013

204,607

Cash at bank

6

170,991

387,997

465,004

592,604

Payables

Amounts falling due within one year

7

(212,479

)

(265,961

)

Net current assets

252,525

326,643

Total assets less current liabilities

5,304,844

5,385,644

Payables

Amounts falling due after more than one year

8

(492,725

)

(568,562

)

Provisions for liabilities

9

(1,057,317

)

(1,038,828

)

Net assets

3,754,802

3,778,254

Capital and reserves

Called up share capital

10

3

3

Fair value reserve

11

3,194,239

3,195,364

Retained earnings

11

560,560

582,887

Shareholders' funds

3,754,802

3,778,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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 3 November 2026 and were signed on its behalf by:

Mr S Draffin - Director

1.	Statutory information

Armagh Business Park Limited 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.	Accounting policies

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Revenue

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

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Land and buildings have not been depreciated because the residual value of the land is expected to be no less than current net book value.

Taxation

Taxation for the year 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 or deferred taxation assets and liabilities are not discounted.

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 year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities.

Receivables

Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables

Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Financial instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments:

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These 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 company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:

Useful economic lives of tangible assets

The annual depreciation charges for tangible assets are sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See Property, Plant and Equipment note for the carrying amount of the assets, and note 2 for the useful economic lives for each class of asset.

3.	Employees and directors

The average number of employees during the year was 5 (2025 - 5 ) .

4.	Property, plant and equipment

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Cost or valuation

At 1 May 2025

5,000,000

222,213

89,030

7,680

5,318,923

Additions

1,500

640

5,823

-

7,963

Revaluations

(1,500

)

-

-

-

(1,500

)

At 30 April 2026

5,000,000

222,853

94,853

7,680

5,325,386

Depreciation

At 1 May 2025

-

189,860

63,407

6,655

259,922

Charge for year

-

6,599

6,289

257

13,145

At 30 April 2026

-

196,459

69,696

6,912

273,067

Net book value

At 30 April 2026

5,000,000

26,394

25,157

768

5,052,319

At 30 April 2025

5,000,000

32,353

25,623

1,025

5,059,001

Cost or valuation at 30 April 2026 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2018

1,907,196

-

-

-

1,907,196

Valuation in 2019

574,516

-

-

-

574,516

Valuation in 2020

793,800

-

-

-

793,800

Valuation in 2021

(102,124

)

-

-

-

(102,124

)

Valuation in 2022

1,200,000

-

-

-

1,200,000

Valuation in 2023

(101,666

)

-

-

-

(101,666

)

Valuation in 2024

(6,898

)

-

-

-

(6,898

)

Valuation in 2025

(17,970

)

-

-

-

(17,970

)

Valuation in 2026

(1,500

)

-

-

-

(1,500

)

Cost

754,646

222,853

94,853

7,680

1,080,032

5,000,000

222,853

94,853

7,680

5,325,386

5.

Receivables: amounts falling due within one year

2026

2025

£

£

Trade receivables

217,531

204,607

Other receivables

76,482

-

294,013

204,607

6.	Cash at bank

2026

2025

£

£

Cash at bank

170,991

387,997

7.

Payables: amounts falling due within one year

2026

2025

£

£

Bank loans and overdrafts

61,854

47,870

Trade payables

37,733

34,315

Taxation and social security

-

53,754

Other payables

112,892

130,022

212,479

265,961

8.

Payables: amounts falling due after more than one year

2026

2025

£

£

Bank loans

492,725

568,562

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

183,459

329,210

9.	Provisions for liabilities

2026

2025

£

£

Deferred tax

Accelerated capital allowances

6,202

(12,662

)

Land and buildings revaluation

1,051,115

1,051,490

1,057,317

1,038,828

Deferred tax

£

Balance at 1 May 2025

1,038,828

Charge to Income statement during year

18,489

Balance at 30 April 2026

1,057,317

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

3

Ordinary shares

£1

3

3

11.

Reserves

Retained

Fair value

earnings

reserve

Totals

£

£

£

At 1 May 2025

582,887

3,195,364

3,778,251

Deficit for the year

(22,327

)

(22,327

)

Revaluation of property

-

(1,500

)

(1,500

)

Deferred tax on property reval

-

375

375

At 30 April 2026

560,560

3,194,239

3,754,799

12.	Directors' advances, credits and guarantees

The following loans from the company to the directors subsisted during the years ended 30 April 2026 and 30 April 2025:

2026

2025

£

£

Mr S Draffin

Balance outstanding at start of year

-

6,799

Amounts repaid

-

(6,799

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr P A Leeman

Balance outstanding at start of year

-

(171

)

Amounts advanced

-

56,971

Amounts repaid

-

(56,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mr T F Wilson

Balance outstanding at start of year

-

6,800

Amounts repaid

-

(6,800

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-