Clogher Valley Properties Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: NI029266 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 28 February 2023

for

Clogher Valley Properties Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T Lockhart

I Duff

H P BELL

R BURTON

P COOTE

SECRETARY:

I Duff

REGISTERED OFFICE:

c/o Mr Ivan Duff

55 Dergenagh Road

Cabragh

Dungannon

Co. Tyrone

BT70 1TW

REGISTERED NUMBER:

NI029266 (Northern Ireland)

ACCOUNTANTS:

WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 English Street

Armagh

Co. Armagh

BT61 7LG

BANKERS:

Ulster Bank

55 Main Street

Clogher

Tyrone

BT76 0AA

SOLICITORS:

CT McAlpine & Son

Northland Row

Dungannon

Co Tyrone

BT71 6AT

FIXED ASSETS

Tangible assets

4

3,250

3,250

CURRENT ASSETS

Stocks

371,870

289,260

Debtors

70,800

15,800

Investments

426,087

162,000

Cash at bank and in hand

104,049

22,480

972,806

489,540

CREDITORS

Amounts falling due within one year

2,453

484

NET CURRENT ASSETS

970,353

489,056

TOTAL ASSETS LESS CURRENT LIABILITIES

973,603

492,306

CREDITORS

Amounts falling due after more than one year

885,831

412,931

NET ASSETS

87,772

79,375

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

87,769

79,372

SHAREHOLDERS' FUNDS

87,772

79,375

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 7 November 2023 and were signed on its behalf by:

H P BELL - Director

I Duff - Director

1.	STATUTORY INFORMATION

Clogher Valley Properties 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.

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.

First-time adoption of FRS 102

The Company has adopted FRS 102 for the first time in the year ended 28/02/2017. The date of transition to FRS 102 is 01/03/2015.

There are no consequential changes in accounting policies or transition adjustments to note resulting from adoption of FRS 102 from the previous financial reporting framework.

Turnover

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

Tangible fixed assets

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2022

and 28 February 2023

3,250

NET BOOK VALUE

At 28 February 2023

3,250

At 28 February 2022

3,250