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
South Belfast Properties Ltd
Company Information
for the period from 1 February 2022 to 30 June 2023
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
South Belfast Properties Ltd
Statement of financial position
as at 30 June 2023
Cash at bank and in hand
200,055
3,187
Creditors: amounts falling due within one year
(199,955)
(351,248)
Net current assets/(liabilities)
100
(6,634)
Net assets/(liabilities)
100
(6,634)
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
South Belfast Properties Ltd
Notes to the Accounts
for the period from 1 February 2022 to 30 June 2023
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.
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.
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.
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 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 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
-
Loans from directors
196,551
280,348
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
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).