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Company Registration No. NI628946 (Northern Ireland)
South Belfast Properties Ltd Unaudited accounts for the period from 1 February 2022 to 30 June 2023
South Belfast Properties Ltd Unaudited accounts Contents
Page
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South Belfast Properties Ltd Company Information for the period from 1 February 2022 to 30 June 2023
Director
Michael Ferrin
Company Number
NI628946 (Northern Ireland)
Registered Office
Unit 2 21 Old Channel Road Belfast Antrim BT3 9DE
Accountants
PGR Chartered Accountants Unit 2 Channel Wharf 21 Old Channel Road Belfast Antrim BT3 9DE
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South Belfast Properties Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Inventories
- 
341,427 
Cash at bank and in hand
200,055 
3,187 
200,055 
344,614 
Creditors: amounts falling due within one year
(199,955)
(351,248)
Net current assets/(liabilities)
100 
(6,634)
Net assets/(liabilities)
100 
(6,634)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
- 
(6,734)
Shareholders' funds
100 
(6,634)
For the period ending 30 June 2023 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 28 February 2024 and were signed on its behalf by
Michael Ferrin Director Company Registration No. NI628946
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South Belfast Properties Ltd Notes to the Accounts for the period from 1 February 2022 to 30 June 2023
1
Statutory information
South Belfast Properties Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI628946. The registered office is Unit 2 , 21 Old Channel Road, Belfast, 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.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The director believes that the company South Belfast Properties Ltd has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from development property is recognised in the period in which the property is sold in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Inventories
Inventories in respect of development property have been valued at the lower of cost and estimated selling price less costs to complete and sell.
4
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Taxes and social security
704 
- 
Other creditors
- 
70,000 
Loans from directors
196,551 
280,348 
Accruals
2,700 
900 
199,955 
351,248 
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
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South Belfast Properties Ltd Notes to the Accounts for the period from 1 February 2022 to 30 June 2023
6
Average number of employees
During the period the average number of employees was 1 (2022: 0).
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