Company Registration No. NI633645 (Northern Ireland)
Ballyclare Developments Limited
Unaudited accounts
for the year ended 30 September 2021
Ballyclare Developments Limited
Statement of financial position
as at
30 September 2021
Tangible assets
4,554
71,466
Inventories
1,532,568
1,739,111
Debtors
2,966,805
161,015
Cash at bank and in hand
25,604
233,885
Creditors: amounts falling due within one year
(4,257,190)
(1,832,684)
Net current assets
267,787
301,327
Net assets
272,441
372,893
Called up share capital
100
100
Profit and loss account
272,341
372,793
Shareholders' funds
272,441
372,893
For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2022 and were signed on its behalf by
Mr Creighton Boyd
Director
Company Registration No. NI633645
Ballyclare Developments Limited
Notes to the Accounts
for the year ended 30 September 2021
Ballyclare Developments Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI633645. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention unless otherwise stated within these accounting policies and in accordance with FRS 102 Section 1A.
The directors believe that Ballyclare Developments Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, Ballyclare Developments Limited continues to adopt the going concern basis in preparation of its financial statements.
The accounts are presented in £ sterling.
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Straight-Line
Fixtures & fittings
10% Straight-Line
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Ballyclare Developments Limited
Notes to the Accounts
for the year ended 30 September 2021
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 October 2020
353,800
3,500
357,300
Disposals
(57,150)
-
(57,150)
At 30 September 2021
296,650
3,500
300,150
At 1 October 2020
284,346
1,488
285,834
Charge for the year
63,705
350
64,055
On disposals
(54,293)
-
(54,293)
At 30 September 2021
293,758
1,838
295,596
At 30 September 2021
2,892
1,662
4,554
At 30 September 2020
69,454
2,012
71,466
5
Investments
Other investments
Valuation at 1 October 2020
100
Valuation at 30 September 2021
100
6
Debtors: amounts falling due within one year
2021
2020
Amounts due from group undertakings etc.
43,938
11,015
Accrued income and prepayments
2,920,000
150,000
7
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
1,117
72,716
Trade creditors
154,950
38,277
Amounts owed to group undertakings and other participating interests
1,804,599
1,626,388
Taxes and social security
14,661
94,703
8
Share capital
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Ballyclare Developments Limited
Notes to the Accounts
for the year ended 30 September 2021
9
Transactions with related parties
Included in debtors is an amounts due from a connected company of £43,938 (2020: £11,015).
Included in creditors are amounts due to connected companies of £1,804,599 (2020: £1,626,388).
10
Average number of employees
During the year the average number of employees was 0 (2020: 0).