Company Registration No. NI046955 (Northern Ireland)
Moy Estates Limited
Unaudited accounts
for the year ended 31 March 2020
Moy Estates Limited
Statement of financial position
as at 31 March 2020
Tangible assets
5,522
7,016
Investment property
1,575,000
1,575,000
Cash at bank and in hand
512
3,364
Creditors: amounts falling due within one year
(1,161,700)
(171,679)
Net current liabilities
(182,780)
(167,859)
Total assets less current liabilities
1,397,742
1,414,157
Creditors: amounts falling due after more than one year
(689,500)
(723,500)
Net assets
708,242
690,657
Called up share capital
100
100
Revaluation reserve
(46,304)
(46,304)
Profit and loss account
754,446
736,861
Shareholders' funds
708,242
690,657
For the year ending 31 March 2020 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 23 January 2020 and were signed on its behalf by
Patrick Heffron
Director
Company Registration No. NI046955
Moy Estates Limited
Notes to the Accounts
for the year ended 31 March 2020
Moy Estates Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI046955. The registered office is UNIT 2 CHANNEL WHARF, 21 OLD CHANNEL ROAD, BELFAST, CO. ANTRIM, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% Reducing Balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Moy Estates Limited
Notes to the Accounts
for the year ended 31 March 2020
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 April 2019
1,575,000
At 31 March 2020
1,575,000
Accrued income and prepayments
337
-
Total debtors less than one year
978,408
456
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
34,000
34,000
Other creditors
1,114,809
129,864
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
689,500
723,500
Moy Estates Limited
Notes to the Accounts
for the year ended 31 March 2020
9
Transactions with related parties
Included in Other creditors are amounts owed to a related party entitiy, Criterion Property Developments Ltd of £1,111,789 (2019: £126,344).
Included in Other debtors are amounts owed to related party entities; Patrick Heffron Settlement Trust, Neptune Group Ltd and Heffron Estates Ltd of £970,406 (2019: £0).
10
Average number of employees
During the year the average number of employees was 0 (2019: 0).
