BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Other letting and operating of our own or leased assets. 31 October 2024 2 2 NI658750 2024-01-31 NI658750 2023-01-31 NI658750 2022-01-31 NI658750 2023-02-01 2024-01-31 NI658750 2022-02-01 2023-01-31 NI658750 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI658750 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI658750 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI658750 uk-bus:FullAccounts 2023-02-01 2024-01-31 NI658750 uk-bus:Director1 2023-02-01 2024-01-31 NI658750 uk-bus:Director2 2023-02-01 2024-01-31 NI658750 uk-bus:RegisteredOffice 2023-02-01 2024-01-31 NI658750 uk-bus:Agent1 2023-02-01 2024-01-31 NI658750 uk-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 NI658750 uk-core:ShareCapital 2024-01-31 NI658750 uk-core:ShareCapital 2023-01-31 NI658750 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI658750 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI658750 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI658750 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI658750 uk-bus:FRS102 2023-02-01 2024-01-31 NI658750 uk-core:Land 2023-02-01 2024-01-31 NI658750 uk-core:WithinOneYear 2024-01-31 NI658750 uk-core:WithinOneYear 2023-01-31 NI658750 uk-core:EmployeeBenefits 2023-01-31 NI658750 uk-core:EmployeeBenefits 2023-02-01 2024-01-31 NI658750 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 NI658750 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-01-31 NI658750 uk-core:OtherDeferredTax 2024-01-31 NI658750 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-01-31 NI658750 uk-core:EmployeeBenefits 2024-01-31 NI658750 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI658750
 
 
Clondara Property Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 January 2024



Clondara Property Ltd
DIRECTORS AND OTHER INFORMATION

 
Directors Catherine Donnelly
Declan Gerard Donnelly
 
 
Company Registration Number NI658750
 
 
Registered Office 263 Falls Road
Belfast
BT12 6FB
 
 
Business Address 721a Lisburn Road
Belfast
BT9 7GU
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
 
Bankers Danske Bank
  Donegall Square West
  Belfast
  Co Antrim
  BT1 6JS
  Belfast
 
   
Solicitors Hart & Co Solicitors
  4th Floor Causeway Tower
  9 James Street South
  Belfast BT2 8DN
  BT2 8DN



Clondara Property Ltd

CHARTERED ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of Clondara Property Ltd
for the financial year ended 31 January 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 January 2024 as set out on pages  to 11 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of Clondara Property Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 January 2024 your duty to ensure that Clondara Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Clondara Property Ltd. You consider that Clondara Property Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of Clondara Property Ltd. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
31 October 2024



Clondara Property Ltd
Company Registration Number: NI658750
STATEMENT OF FINANCIAL POSITION
as at 31 January 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 1,305,441 920,748
───────── ─────────
 
Current Assets
Receivables 5 1,000 -
Cash and cash equivalents 4,200 1,868
───────── ─────────
5,200 1,868
───────── ─────────
Payables: amounts falling due within one year 6 (759,569) (425,519)
───────── ─────────
Net Current Liabilities (754,369) (423,651)
───────── ─────────
Total Assets less Current Liabilities 551,072 497,097
 
Provisions for liabilities 8 287 287
───────── ─────────
Net Assets 551,359 497,384
═════════ ═════════
 
Equity
Called up share capital 100 100
Retained earnings 551,259 497,284
───────── ─────────
Equity attributable to owners of the company 551,359 497,384
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 31 October 2024 and signed on its behalf by
           
           
________________________________          
Catherine Donnelly          
Director          
           



Clondara Property Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Clondara Property Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI658750. The registered office of the company is 721a Lisburn Road, Belfast, BT9 7GU which is also the principal place of business of the company. The principal activity of the business is that of other letting and operating of own or leased real estate. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Long leasehold property - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
 
Exceptional item
Exceptional items are those that the directors' view are required to be separately disclosed by virtue of their size or incidence to enable a full understanding of the company's financial performance.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
 
  2024 2023
  Number Number
 
Director 2 2
  ═════════ ═════════
       
4. Property, plant and equipment
  Long Total
  leasehold  
  property  
  £ £
Cost
At 1 February 2023 920,748 920,748
Additions 493,681 493,681
Disposals (108,988) (108,988)
  ───────── ─────────
At 31 January 2024 1,305,441 1,305,441
  ───────── ─────────
Depreciation
At 1 February 2023 - -
  ───────── ─────────
At 31 January 2024 - -
  ───────── ─────────
Carrying amount
At 31 January 2024 1,305,441 1,305,441
  ═════════ ═════════
At 31 January 2023 920,748 920,748
  ═════════ ═════════
       
5. Receivables 2024 2023
  £ £
 
Amounts owed by connected parties (Note 10) 1,000 -
  ═════════ ═════════
       
6. Payables 2024 2023
Amounts falling due within one year £ £
 
Trade payables 2,700 1,544
Amounts owed to connected parties (Note 10) 160,147 -
Taxation  (Note 7) 17,073 6,276
Directors' current accounts 476,718 365,914
Other creditors 101,791 50,645
Accruals 1,140 1,140
  ───────── ─────────
  759,569 425,519
  ═════════ ═════════
       
7. Taxation 2024 2023
  £ £
 
Payables:
Corporation tax 17,073 6,276
  ═════════ ═════════
         
8. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Losses Total Total
       
       
    2024 2023
  £ £ £
 
At financial year start (287) (287) -
Charged to profit and loss - - (287)
  ───────── ───────── ─────────
At financial year end (287) (287) (287)
  ═════════ ═════════ ═════════
       
9. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 January 2024.
           
10. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Kashmir Belfast Limited 1,000 1,000 - -
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Northernpropertyni.com Limited     160,147 -
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      £ £
 
Northernpropertyni.com Limited     (160,147) -
Kashmir Belfast Limited     1,000 -
      ───────── ─────────
      (159,147) -
      ═════════ ═════════
 
During YE 31 January 2024 Catherine Donnelly and Declan Donnelly were both director in both Northernpropertyni.com and Clondara Property Limited.

As at 31 January 2023, the balance owed to Northernpropertyni.com was £Nil. During the financial year net transactions between the companies amounted to £160,147. As of 31 January 2024 the balance owed to Northernpropertyni.com was £160,147.

During YE 31 January 2024 Catherine Donnelly and Declan Donnelly were both director in both Northernpropertyni.com and Kashmir Belfast Limited.

As at 31 January 2023, the balance owed to Kashmir Belfast Limited was £Nil. During the financial year net transactions between the companies amounted to £1,000. As of 31 January 2024 the balance owed by Kashmir Belfast Limited was £1,000.
   
11. Directors' advances, credits and guarantees
 
As at 31st January 2023 the Company owed the Director £365,913. During the year net transactions amounted to £110,804. As at 31 January 20234 the Company owed the Directors £476,718.
   
12. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.