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REGISTERED NUMBER:
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Armagh Business Park Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2019 |
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REGISTERED NUMBER:
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Armagh Business Park Limited |
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Unaudited Financial Statements |
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for the Year Ended 30 April 2019 |
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Armagh Business Park Limited (Registered number: NI615558) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2019 |
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Page |
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Company information | 1 |
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Statement of financial position | 2 | to | 3 |
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Notes to the financial statements | 4 | to | 8 |
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Armagh Business Park Limited |
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Company Information |
for the Year Ended 30 April 2019 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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Chartered Accountants |
Armagh Business Centre |
2 Loughgall Road |
Armagh |
BT61 7NH |
Armagh Business Park Limited (Registered number: NI615558) |
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Statement of Financial Position |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ |
Non current assets |
Property, plant and equipment | 4 |
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Current assets |
Receivables | 5 |
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Cash at bank | 6 |
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Payables |
Amounts falling due within one year | 7 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities |
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Payables |
Amounts falling due after more than one year | 8 | ( |
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Provisions for liabilities | 9 | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 10 |
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Fair value reserve | 11 |
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Retained earnings | 11 | ( |
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Shareholders' funds |
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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. |
Armagh Business Park Limited (Registered number: NI615558) |
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Statement of Financial Position - continued |
30 April 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Mr S Draffin - Director | Mr T F Wilson - Director |
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Mr P A Leeman - Director |
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Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2019 |
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1. | Statutory information |
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Armagh Business Park Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Property, plant and equipment |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Land and buildings have not been depreciated because the residual value of the land is expected to be no less than |
current net book value. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement |
of financial position date. |
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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. |
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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. |
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Receivables |
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method, less any impairment. |
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Cash and cash equivalents |
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of |
not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months |
from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of |
change in value. |
Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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2. | Accounting policies - continued |
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Payables |
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are |
measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method. |
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Provisions for liabilities |
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that |
probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of |
the obligation. Provisions are charged as an expense to the Statement of Comprehensive Income in the year that |
the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial |
Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
When payments are eventually made, they are charged to the provision carried in the Statement of Financial |
Position. |
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Critical accounting judgements and key sources of estimation uncertainty |
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Estimates and judgements are required when applying accounting policies. These are continually evaluated and are |
based on historical experience and other factors, including expectations of future events that are believed to be |
reasonable under the circumstances. The company makes estimates and assumptions concerning the future, which |
can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom |
equal the related actual results. The estimates and assumptions that have a significant risk of causing a material |
adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below: |
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Useful economic lives of tangible assets |
The annual depreciation charges for tangible assets is sensitive to changes in the estimated useful economic lives |
and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They |
are amended when necessary to reflect current estimates, based on technological advancement, future investments, |
economic utilisation and the physical condition of the assets. Property, Plant and Equipment note for the carrying |
amount of the assets, and note 2 for the useful economic lives for each class of asset. |
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3. | Employees and directors |
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The average number of employees during the year was
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4. | Property, plant and equipment |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost or valuation |
At 1 May 2018 |
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Additions |
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Disposals |
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Revaluations |
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At 30 April 2019 |
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Depreciation |
At 1 May 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2019 |
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Net book value |
At 30 April 2019 |
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At 30 April 2018 |
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Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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4. | Property, plant and equipment - continued |
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Cost or valuation at 30 April 2019 is represented by: |
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Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2018 | 1,907,196 | - | - | - | 1,907,196 |
Valuation in 2019 | 574,516 | - | - | - | 574,516 |
Cost | 518,288 | 183,037 | 42,030 | 7,680 | 751,035 |
3,000,000 | 183,037 | 42,030 | 7,680 | 3,232,747 |
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5. | Receivables: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Trade receivables |
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Other receivables |
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6. | Cash at bank |
2019 | 2018 |
£ | £ |
Deposit holding account |
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7. | Payables: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other payables |
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8. | Creditors: amounts falling due after more than one year |
2019 | 2018 |
£ | £ |
Bank loans |
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9. | Provisions for liabilities |
2019 | 2018 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Tax losses carried forward | ( |
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359,175 | 273,776 |
Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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9. | Provisions for liabilities - continued |
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Deferred tax |
£ |
Balance at 1 May 2018 |
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Accelerated capital allowances | 109,529 |
Tax loss increase in year | (24,130 | ) |
Balance at 30 April 2019 |
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10. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary shares | 3 | 3 | 3 |
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11. | Reserves |
Retained | Fair value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 May 2018 | ( |
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1,337,950 |
Deficit for the year | ( |
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Revaluation of property | - | 574,516 | 574,516 |
At 30 April 2019 | ( |
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1,702,018 |
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12. | Directors' advances, credits and guarantees |
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The following loans to the company from the directors subsisted during the years ended 30 April 2019 and |
30 April 2018: |
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2019 | 2018 |
£ | £ |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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12. | Directors' advances, credits and guarantees - continued |
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Balance outstanding at start of year | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
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