Doon Investments Limited iXBRL

Company Number: NI028748

Doon Investments Limited

Unaudited Financial Statements

for the year ended 31 May 2017

Doon Investments Limited

DIRECTOR AND OTHER INFORMATION

Director	Desmond Nugent
Company Secretary	Ann Nugent
Company Number	NI028748
Registered Office and Business Address	16 Fairhill Road
	Cookstown
	Co. Tyrone
	BT80 8AQ
Accountants	CavanaghKelly
	Chartered Accountants
	36-38 Northland Row
	Dungannon
	Co. Tyrone
	BT71 6AP

Doon Investments Limited

CHARTERED ACCOUNTANTS' REPORT

to the Director on the unaudited financial statements of Doon Investments Limited for the year ended 31 May 2017

In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the year ended 31 May 2017 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the director of Doon Investments Limited, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Doon Investments Limited and state those matters that we have agreed to state to the director of Doon Investments Limited, in this report in accordance with the guidance of Chartered Accountants Ireland. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Doon Investments Limited and its director for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

It is your duty to ensure that Doon Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Doon Investments Limited. You consider that Doon Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Doon Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

__________________________________

CAVANAGHKELLY

Chartered Accountants

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

20 February 2018

Doon Investments Limited

Company Number: NI028748

STATEMENT OF FINANCIAL POSITION

as at 31 May 2017

			2017		2016
		Notes	£		£
Non-Current Assets

Investments		4	-		20,005
			─────────		─────────
Current Assets

Receivables		5	1,771,642		1,839,952
Cash and cash equivalents			6,378		440
			─────────		─────────
			1,778,020		1,840,392
			─────────		─────────
Payables: Amounts falling due within one year		6	(634,182)		(575,182)
			─────────		─────────
Net Current Assets			1,143,838		1,265,210
			─────────		─────────
Total Assets less Current Liabilities			1,143,838		1,285,215
Payables

Amounts falling due after more than one year		7	(283,155)		(283,155)
			─────────		─────────
Net Assets			860,683		1,002,060
			═════════		═════════
Equity

Called up share capital			2		2
Income statement			860,681		1,002,058
			─────────		─────────
Equity attributable to owners of the company			860,683		1,002,060
			═════════		═════════
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.

For the financial year ended 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The director confirms that the members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Director and authorised for issue on 20 February 2018

________________________________
Desmond Nugent
Director

Doon Investments Limited

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2017

1.	GENERAL INFORMATION
	Doon Investments Limited is a private company limited by shares incorporated in Northern Ireland.

2.	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 31 May 2017 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
	Basis of preparation
	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.
	Cash flow statement
	The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.
	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 income statement in the year in which it is receivable.
	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 Statement of Financial Position date.

3.	ADOPTION OF FRS 102 SECTION 1A
	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” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 June 2015.

4.	INVESTMENTS
		Group and	Total
		participating
		interests/
		joint ventures
	Investments	£	£
	Cost or Valuation
	At 1 June 2016	20,005	20,005
	Disposals	(20,005)	(20,005)
		─────────	─────────
	At 31 May 2017	-	-
		─────────	─────────
	Carrying amount
	At 31 May 2017	-	-
		═════════	═════════
	At 31 May 2016	20,005	20,005
		═════════	═════════

5.	RECEIVABLES	2017	2016
		£	£
	Other debtors	1,771,502	1,839,952
	Taxation	140	-
		─────────	─────────
		1,771,642	1,839,952
		═════════	═════════

6.	PAYABLES	2017	2016
	Amounts falling due within one year	£	£
	Director's current account	633,082	547,782
	Other creditors	-	26,300
	Accruals	1,100	1,100
		─────────	─────────
		634,182	575,182
		═════════	═════════

7.	PAYABLES	2017	2016
	Amounts falling due after more than one year	£	£
	Loan	283,155	283,155
		═════════	═════════
	Loans
	Repayable in five years or more	283,155	283,155
		═════════	═════════

8.	RELATED PARTY TRANSACTIONS
	The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with group companies.
	In the opinion of the directors these amounts arise in the ordinary course of business and the terms of the amounts due are in accordance with the terms ordinarily offered by the company.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
	At the year end a a balance of £633,082 (2016 - £547,782) was due to the director Desmond Nugent in respect of monies advanced to the company.