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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 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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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 2018 |
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2018 | 2017 |
as restated |
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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( |
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Provisions for liabilities | 10 | ( |
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Net assets |
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Capital and reserves |
Called up share capital | 11 |
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Fair value reserve | 12 |
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Retained earnings | 12 | ( |
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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 2018 |
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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
by: |
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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 2018 |
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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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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 2018 |
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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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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 |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Cost or valuation |
At 1 May 2017 |
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Additions |
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At 30 April 2018 |
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Depreciation |
At 1 May 2017 |
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Charge for year |
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At 30 April 2018 |
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Net book value |
At 30 April 2018 |
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At 30 April 2017 |
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Cost or valuation at 30 April 2018 is represented by: |
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Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
Valuation in 2018 | 1,907,196 | - | - | 1,907,196 |
Cost | 450,121 | 173,144 | 42,030 | 665,295 |
2,357,317 | 173,144 | 42,030 | 2,572,491 |
Armagh Business Park Limited (Registered number: NI615558) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2018 |
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5. | Receivables: amounts falling due within one year |
2018 | 2017 |
as restated |
£ | £ |
Trade receivables |
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Other receivables |
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6. | Cash at bank |
2018 | 2017 |
as restated |
£ | £ |
Deposit holding account |
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7. | Payables: amounts falling due within one year |
2018 | 2017 |
as restated |
£ | £ |
Bank loans and overdrafts (see note 9) |
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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 |
2018 | 2017 |
as restated |
£ | £ |
Bank loans (see note 9) |
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9. | Loans |
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An analysis of the maturity of loans is given below: |
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2018 | 2017 |
as restated |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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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 2018 |
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10. | Provisions for liabilities |
2018 | 2017 |
as restated |
£ | £ |
Deferred tax |
Accelerated capital allowances |
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Tax losses carried forward | ( |
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273,776 | 252,089 |
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Deferred tax |
£ |
Balance at 1 May 2017 |
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Accelerated capital allowances | (2,702 | ) |
Utilisation of losses in year | 24,389 |
Balance at 30 April 2018 |
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11. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | as restated |
£ | £ |
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Ordinary shares | 3 | 3 | 3 |
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12. | Reserves |
Retained | Fair value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 May 2017 | ( |
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1,232,694 |
Profit for the year |
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At 30 April 2018 | ( |
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1,337,950 |
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13. | 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 2018 and |
30 April 2017: |
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2018 | 2017 |
as restated |
£ | £ |
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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 2018 |
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13. | 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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Balance outstanding at start of year | ( |
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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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