COMPANY REGISTRATION NUMBER:
NI619276
Lagan Homes (Carryduff) Limited (Formerly Eastonville Limited) |
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Filleted Financial Statements |
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Lagan Homes (Carryduff) Limited (Formerly Eastonville Limited) |
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Statement of Financial Position |
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31 December 2022
Fixed assets
Current assets
Cash at bank and in hand |
39,684 |
251,206 |
|
|
|
Creditors: amounts falling due within one year |
5 |
39,684 |
233,928 |
|
-------- |
---------- |
Net current assets |
– |
17,278 |
|
---- |
-------- |
Total assets less current liabilities |
– |
17,285 |
|
---- |
-------- |
Net assets |
– |
17,285 |
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---- |
-------- |
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|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
(
1) |
17,284 |
|
---- |
-------- |
Shareholders funds |
– |
17,285 |
|
---- |
-------- |
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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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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
25 September 2023
, and are signed on behalf of the board by:
Company registration number:
NI619276
Lagan Homes (Carryduff) Limited (Formerly Eastonville Limited) |
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Notes to the Financial Statements |
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Year ended 31 December 2022
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Lagan House, 19 Clarendon Road, Belfast, BT13BG.
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.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of Lagan Homes Group Limited. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
These financial statements contain information about the company as an individual company and do not contain consolidated financial information as the parent undertaking of a group. The company is exempt under section 400 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its associated undertakings are included by full consolidation in the consolidated financial statements of its ultimate parent undertaking, Lagan Homes Group Ltd, a company incorporated in Northern Ireland.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Investments
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Shares in group undertakings |
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£ |
Cost |
|
At 1 January 2022 |
7 |
Disposals |
(
7) |
|
---- |
At 31 December 2022 |
– |
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---- |
Impairment |
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At 1 January 2022 and 31 December 2022 |
– |
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---- |
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Carrying amount |
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At 31 December 2022 |
– |
|
---- |
At 31 December 2021 |
7 |
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---- |
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The company has taken advantage of the exemption available in section 401 of the Companies Act 2006 not to disclose the results of its undertakings as it is part of a larger group preparing consolidated accounts. For the same reason, the accounts present information about the company as an individual entity and not in relation to the group.
5.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Bank loans and overdrafts |
39,684 |
22,481 |
Social security and other taxes |
– |
211,439 |
Other creditors |
– |
8 |
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-------- |
---------- |
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39,684 |
233,928 |
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-------- |
---------- |
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6.
Summary audit opinion
The auditor's report for the year dated
26 September 2023
was
unqualified
.
The senior statutory auditor was
Brian McKee
, for and on behalf of
BMK Accounting Limited
.
7.
Related party transactions
The company has availed of the exemption under the terms of FRS 102 from disclosing related party transactions with entities which are part of Lagan Homes Group Ltd. group.
8.
Controlling party
The company considers JPK Lagan to be the ultimate controlling party.