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REGISTERED NUMBER: NI017296 (Northern Ireland)















B.D.A. (PROPERTY PROJECTS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


B.D.A. (PROPERTY PROJECTS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Bowers
B Mackin
D M Rowan
C M Whitehorn



REGISTERED OFFICE: Portview Trade Centre
310 Newtownards Road
Belfast
BT4 1HE



REGISTERED NUMBER: NI017296 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Arthur House
41 Arthur Street
BELFAST
BT1 4GB



BANKERS: Ulster Bank
Arches Retail Park
Connswater
BELFAST
BT5 4AF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
B.D.A. (PROPERTY PROJECTS) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, 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 the company's 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 the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 December 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the 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 financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Arthur House
41 Arthur Street
BELFAST
BT1 4GB


27 September 2024

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,464 24,404
Investments 5 445,017 524,293
Investment property 6 1,541,361 1,248,735
2,004,842 1,797,432

CURRENT ASSETS
Debtors 7 492,459 344,571
Cash at bank 207,457 260,451
699,916 605,022
CREDITORS
Amounts falling due within one year 8 120,888 94,298
NET CURRENT ASSETS 579,028 510,724
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,583,870

2,308,156

CREDITORS
Amounts falling due after more than one
year

9

(387,453

)

(181,681

)

PROVISIONS FOR LIABILITIES (34,215 ) (19,245 )
NET ASSETS 2,162,202 2,107,230

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,162,200 2,107,228
2,162,202 2,107,230

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2024 and were signed on its behalf by:




B Mackin - Director



C M Whitehorn - Director


B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

B.D.A. (Property Projects) Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & fittings - 20% straight line
Computer equipment - 20% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Current or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Investments
Investments are measured at fair value. Changes in fair value are recognised in profit or loss.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 53,656 4,396 58,052
DEPRECIATION
At 1 January 2023 31,702 1,946 33,648
Charge for year 5,061 879 5,940
At 31 December 2023 36,763 2,825 39,588
NET BOOK VALUE
At 31 December 2023 16,893 1,571 18,464
At 31 December 2022 21,954 2,450 24,404

5. FIXED ASSET INVESTMENTS

2023 2022
£    £   
Other investments not loans 392,505 524,293
Other loans 52,512 -
445,017 524,293

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 January 2023 524,293
Additions 39,384
Disposals (185,606 )
Revaluations 14,434
At 31 December 2023 392,505
NET BOOK VALUE
At 31 December 2023 392,505
At 31 December 2022 524,293

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2023 14,434
Valuation in 2022 (83,418 )
Valuation in 2021 20,361
Valuation in 2020 57,341
Cost 383,787
392,505
Other
loans
£   
New in year 52,512
At 31 December 2023 52,512

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,248,735
Additions 292,626
At 31 December 2023 1,541,361
NET BOOK VALUE
At 31 December 2023 1,541,361
At 31 December 2022 1,248,735

The 2023 valuations were made by the directors, on an open market value for existing use basis.

B.D.A. (PROPERTY PROJECTS) LIMITED (REGISTERED NUMBER: NI017296)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 90,801 59,255
Other debtors 401,658 285,316
492,459 344,571

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 9,894
Trade creditors 53,700 35,833
Taxation and social security 3,476 2,015
Other creditors 53,064 46,556
120,888 94,298

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,086 25,700
Other creditors 372,367 155,981
387,453 181,681

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemptions contained in Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 33 Related Party Disclosures paragraph 33.11 and has not disclosed details of transactions with its parent or fellow subsidiary entities on the grounds that it is a 100% wholly owned subsidiary at the year end and the group financial statements of Northern Ireland Trade Union Educational & Social Centre Limited, within which B.D.A. (Property Projects) Limited is included are publicly available.