false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
true
true
No description of principal activity
2017-09-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
13,477
12,771
797,619
797,619
797,619
xbrli:pure
xbrli:shares
iso4217:GBP
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COMPANY REGISTRATION NUMBER:
NI004615
D Acheson (Pressed Brick) Limited
|
|
Unaudited financial statements
|
|
D Acheson (Pressed Brick) Limited
|
|
Year ended 31 August 2018
Officers and professional advisers
|
1
|
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements
|
3
|
|
|
Statement of income and retained earnings
|
4
|
|
|
Statement of financial position
|
5
|
|
|
Notes to the financial statements
|
6 to 9
|
|
|
D Acheson (Pressed Brick) Limited
|
|
Officers and professional advisers
|
|
The board of directors
|
Mr JG Acheson
|
|
Mr JR Acheson
|
|
|
Company secretary
|
Mr JG Acheson
|
|
|
Registered office
|
Uint 10
|
|
4 Molesworth Street
|
|
Cookstown
|
|
Tyrone
|
|
BT80 8NX
|
|
|
Accountant
|
WSCurragh
|
|
Chartered accountants
|
|
13 Tweskard Park
|
|
Belfast
|
|
BT4 2JY
|
|
|
Solicitors
|
Millar, Shearer and Black
|
|
40 Molesworth Street
|
|
Cookstown
|
|
BT80 8JW
|
|
|
D Acheson (Pressed Brick) Limited
|
|
Year ended 31 August 2018
The directors present their report and the unaudited financial statements of the company for the year ended
31 August 2018
.
Directors
The directors who served the company during the year were as follows:
Mr JG Acheson
|
|
Mr JR Acheson
|
|
|
|
Principal activities
The principal activity of the company during the year was the leasing of land.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
28 May 2019
and signed on behalf of the board by:
Mr JG Acheson
|
Company Secretary
|
|
D Acheson (Pressed Brick) Limited
|
|
Report to the board of directors on the preparation of the unaudited statutory financial statements of
D Acheson (Pressed Brick) Limited
|
|
Year ended 31 August 2018
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of D Acheson (Pressed Brick) Limited for the year ended 31 August 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given me. As a practising member of Chartered Accountants Ireland, I am subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of D Acheson (Pressed Brick) Limited, as a body, in accordance with the terms of my engagement letter dated 21 September 2018. My work has been undertaken solely to prepare for your approval the financial statements of D Acheson (Pressed Brick) Limited and state those matters that I have agreed to state to you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than D Acheson (Pressed Brick) Limited and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that D Acheson (Pressed Brick) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D Acheson (Pressed Brick) Limited. You consider that D Acheson (Pressed Brick) Limited is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of D Acheson (Pressed Brick) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
WSCurragh
Chartered accountants
13 Tweskard Park
Belfast
BT4 2JY
28 May 2019
D Acheson (Pressed Brick) Limited
|
|
Statement of income and retained earnings
|
|
Year ended 31 August 2018
Administrative expenses
|
9,450
|
10,030
|
Other operating income
|
26,088
|
25,910
|
|
-------
|
-------
|
Operating profit
|
16,638
|
15,880
|
|
|
|
|
-------
|
-------
|
Profit before taxation
|
16,638
|
15,880
|
|
|
|
Tax on profit
|
4
|
3,161
|
3,109
|
|
-------
|
-------
|
Profit for the financial year and total comprehensive income
|
13,477
|
12,771
|
|
-------
|
-------
|
|
|
|
|
Retained earnings at the start of the year
|
1,024,174
|
1,011,403
|
|
-----------
|
-----------
|
Retained earnings at the end of the year
|
1,037,651
|
1,024,174
|
|
-----------
|
-----------
|
|
|
|
All the activities of the company are from continuing operations.
D Acheson (Pressed Brick) Limited
|
|
Statement of financial position
|
|
31 August 2018
Fixed assets
Tangible assets
|
5
|
|
797,619
|
|
797,619
|
|
|
|
|
|
|
Current assets
Debtors
|
6
|
602,293
|
|
588,764
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
12,261
|
|
12,209
|
|
|
--------
|
|
--------
|
|
Net current assets
|
|
590,032
|
|
576,555
|
|
|
-----------
|
|
-----------
|
Total assets less current liabilities
|
|
1,387,651
|
|
1,374,174
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
|
338,000
|
|
338,000
|
|
|
-----------
|
|
-----------
|
Net assets
|
|
1,049,651
|
|
1,036,174
|
|
|
-----------
|
|
-----------
|
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
9
|
|
12,000
|
|
12,000
|
Profit and loss account
|
|
1,037,651
|
|
1,024,174
|
|
|
-----------
|
|
-----------
|
Shareholders funds
|
|
1,049,651
|
|
1,036,174
|
|
|
-----------
|
|
-----------
|
|
|
|
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
28 May 2019
, and are signed on behalf of the board by:
Mr JG Acheson
|
Mr JR Acheson
|
Director
|
Director
|
|
|
Company registration number:
NI004615
D Acheson (Pressed Brick) Limited
|
|
Notes to the financial statements
|
|
Year ended 31 August 2018
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Uint 10, 4 Molesworth Street, Cookstown, BT80 8NX, Tyrone.
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.
Significant 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.
Disclosure exemptions
Disclosures in respect of financial instruments have not been presented.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
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 are 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.
Tax on profit
Major components of tax expense
Current tax:
UK current tax expense
|
3,161
|
3,109
|
|
------
|
------
|
Tax on profit
|
3,161
|
3,109
|
|
------
|
------
|
|
|
|
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2017: the same as) the
standard rate of corporation tax in the UK
of
19
% (2017:
19.58
%).
|
2018
|
2017
|
|
£
|
£
|
Profit on ordinary activities before taxation
|
16,638
|
15,880
|
|
-------
|
-------
|
Profit on ordinary activities by rate of tax
|
3,161
|
3,109
|
|
-------
|
-------
|
|
|
|
5.
Tangible assets
|
Freehold property
|
|
£
|
Cost
|
|
At 1 September 2017 and 31 August 2018
|
797,619
|
|
--------
|
Depreciation
|
|
At 1 September 2017 and 31 August 2018
|
–
|
|
--------
|
Carrying amount
|
|
At 31 August 2018
|
797,619
|
|
--------
|
At 31 August 2017
|
797,619
|
|
--------
|
|
|
6.
Debtors
|
2018
|
2017
|
|
£
|
£
|
Other debtors
|
602,293
|
588,764
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2018
|
2017
|
|
£
|
£
|
Accruals and deferred income
|
9,100
|
9,100
|
Corporation tax
|
3,161
|
3,109
|
|
-------
|
-------
|
|
12,261
|
12,209
|
|
-------
|
-------
|
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2018
|
2017
|
|
£
|
£
|
Shares classed as financial liabilities
|
338,000
|
338,000
|
|
--------
|
--------
|
|
|
|
9.
Called up share capital
Issued, called up and fully paid
Amounts presented in equity:
Ordinary shares of £ 1 each
|
12,000
|
12,000.00
|
12,000
|
12,000.00
|
|
-------
|
-----------
|
-------
|
-----------
|
|
|
|
|
|
Amounts presented in liabilities:
Preference shares of £ 1 each
|
338,000
|
338,000.00
|
338,000
|
338,000.00
|
|
--------
|
------------
|
--------
|
------------
|
|
|
|
|
|
Non-cumulative redeemable preference shares The ordinary shares and the non-cumulative preference shares have the same rights and privileges and rank pari passu in all respects save that: Voting The holders of the non-cumulative preference shares are not entitled to receive notice of, or attend, or vote at any general meeting of the company. Dividends The holders of the non-cumulative preference shares are not entitled to payment of any dividend. Winding up of the company On winding up of the company, the holders of the non-cumulative preference shares have priority before all other classes of shares to receive repayment of capital.
10.
Other financial commitments
The bank overdraft facility of D Acheson (Navan Quarries) Limited, a related party by virtue of common control, is partly secured by an all monies debenture comprising a first fixed charge over certain of the company's freehold land.
11.
Related party transactions
D Acheson (Navan Quarries) Limited and D Acheson (Limeworks) Limited
constitute related parties by virtue of common control. During the period, payments were made and received by D Acheson (Navan Quarries) Limited on behalf of D Acheson (Pressed Brick) Limited
. Balances outstanding with related parties were:
|
|
2018 |
2017 |
|
|
£ |
£ |
|
Amounts owed by D Acheson (Limeworks) Limited |
14,114
|
14,114
|
|
Amounts owed by D Acheson (Navan Quarries) Limited |
588,179 |
574,650 |
|
Non-cumulative redeemable preference shares issued to D Acheson (Navan Quarries) Limited |
338,000 |
338,000 |
|
|
|
|
12.
Ultimate controlling parties
The ultimate controlling parties are JG Acheson and JR Acheson by virtue of their equity shareholdings.