Abbreviated Company Accounts - DOON INVESTMENTS LIMITED

DOON INVESTMENTS LIMITED - Company Information

NI028748 DOON INVESTMENTS LIMITED 2016-05-31 false 2015-06-01 2016-05-31 true NI028748 2015-06-01 2016-05-31 NI028748 2016-05-31 NI028748 2015-05-31 NI028748 uk-gaap-cd-bus:Director1 2015-06-01 2016-05-31 NI028748 uk-gaap-cd-bus:Director2 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-06-01 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-05-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-05-31 iso4217:GBP shares

Registered Number NI028748

DOON INVESTMENTS LIMITED

Abbreviated Accounts

31 May 2016

DOON INVESTMENTS LIMITED Registered Number NI028748

Abbreviated Balance Sheet as at 31 May 2016

	Notes	2016	2015
		£	£
Fixed assets
Investments	2	20,005	20,005
		20,005	20,005
Current assets
Debtors		1,839,952	1,839,952
Cash at bank and in hand		440	440
		1,840,392	1,840,392
Creditors: amounts falling due within one year	3	(575,182)	(520,682)
Net current assets (liabilities)		1,265,210	1,319,710
Total assets less current liabilities		1,285,215	1,339,715
Creditors: amounts falling due after more than one year	3	(283,155)	(283,155)
Total net assets (liabilities)		1,002,060	1,056,560
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		1,002,058	1,056,558
Shareholders' funds		1,002,060	1,056,560

For the year ending 31 May 2016 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 28 February 2017

And signed on their behalf by:
Desmond Nugent, Director

DOON INVESTMENTS LIMITED Registered Number NI028748

Notes to the Abbreviated Accounts for the period ended 31 May 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Other accounting policies
General Information
Doon Investments Limited is a company limited by shares incorporated in Northern Ireland.

Accounting Policies
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance
The financial statements of the company for the year ended 31st May 2016 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006. There have been no transitional adjustments made.

Cash flow statement
The company has availed of the exemption in FRS 102 from the requirement to prepare a Cash Flow Statement because it is classified as a small company.

Consolidated Accounts
The company is entitled to the exemption in accordance with section 297 of the Companies Act 2014 from the obligation to prepare group accounts.

Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.

Trade and other debtors
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.

Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Adoption of FRS 102
This is the first set of financial statements prepared by Doon Investments Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”). The company transitioned from previously extant Irish and UK GAAP to FRS 102 as at 1 June 2014.

2Fixed assets Investments
Investments
Cost or Valuation
As at 31 May 2016 - £20,005

Net Book Value
As at 31 May 2016 - £20,005
As at 31 May 2015 - £20,005

3Creditors

	2016 £	2015 £
Secured Debts	283,155	283,155

4Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2