Adarra Developments Limited - Period Ending 2020-04-30

Adarra Developments Limited

(Registration number: NI035084)
Balance Sheet as at 30 April 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	1,107,013	575,000
Creditors: due after more than one year	5	(1,106,013)	(574,000)
Net assets		1,000	1,000
Capital and reserves
Called up share capital		1,000	1,000
Total equity		1,000	1,000

For the financial year ending 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 13 January 2021
 

.........................................

Dr Marina Theresa Lupari
Company secretary and director

Adarra Developments Limited

Notes to the Financial Statements for the Year Ended 30 April 2020

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 40 Creevery Road, Antrim, Co Antrim, BT41 2LQ.

These financial statements were authorised for issue by the director on 13 January 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2019 - 1).

Adarra Developments Limited

Notes to the Financial Statements for the Year Ended 30 April 2020

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 May 2019	575,000	575,000
Additions	532,013	532,013
At 30 April 2020	1,107,013	1,107,013
Carrying amount
At 30 April 2020	1,107,013	1,107,013
At 30 April 2019	575,000	575,000

Included within the net book value of land and buildings above is £1,107,013 (2019 - £575,000) in respect of freehold land and buildings.
 

5

Creditors

	2020 £	2019 £
Owed by/(from) parent undertakings	1,106,013	574,000