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 The principal activity is that of operating and letting of own or leased real estate. 30 October 2024 2 2 NI673053 2024-01-31 NI673053 2023-01-31 NI673053 2022-01-31 NI673053 2023-02-01 2024-01-31 NI673053 2022-02-01 2023-01-31 NI673053 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI673053 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI673053 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI673053 uk-bus:FullAccounts 2023-02-01 2024-01-31 NI673053 uk-bus:Director1 2023-02-01 2024-01-31 NI673053 uk-bus:Director2 2023-02-01 2024-01-31 NI673053 uk-bus:Director3 2023-02-01 2024-01-31 NI673053 uk-bus:RegisteredOffice 2023-02-01 2024-01-31 NI673053 uk-bus:Agent1 2023-02-01 2024-01-31 NI673053 uk-bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 NI673053 uk-core:ShareCapital 2024-01-31 NI673053 uk-core:ShareCapital 2023-01-31 NI673053 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI673053 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI673053 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI673053 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI673053 uk-bus:FRS102 2023-02-01 2024-01-31 NI673053 uk-core:Goodwill 2023-02-01 2024-01-31 NI673053 uk-core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI673053 uk-core:IntangibleAssetsOtherThanGoodwill 2023-01-31 NI673053 uk-core:Goodwill 2023-01-31 NI673053 uk-core:IntangibleAssetsOtherThanGoodwill 2024-01-31 NI673053 uk-core:Goodwill 2024-01-31 NI673053 uk-core:IntangibleAssetsOtherThanGoodwill 2023-02-01 2024-01-31 NI673053 uk-core:CurrentFinancialInstruments 2024-01-31 NI673053 uk-core:CurrentFinancialInstruments 2023-01-31 NI673053 uk-core:WithinOneYear 2024-01-31 NI673053 uk-core:WithinOneYear 2023-01-31 NI673053 uk-core:EmployeeBenefits 2023-01-31 NI673053 uk-core:EmployeeBenefits 2023-02-01 2024-01-31 NI673053 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-01-31 NI673053 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-01-31 NI673053 uk-core:OtherDeferredTax 2024-01-31 NI673053 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-01-31 NI673053 uk-core:EmployeeBenefits 2024-01-31 NI673053 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI673053
 
 
Kashmir Belfast Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 January 2024



Kashmir Belfast Ltd
DIRECTOR AND OTHER INFORMATION

 
Directors Anthony Donnelly (Appointed 15 January 2024)
Declan Donnelly (Resigned 15 January 2024)
Catherine Donnelly (Resigned 15 January 2024)
 
 
Company Registration Number NI673053
 
 
Registered Office and Business Address 263a Falls Road
Belfast
Antrim
BT12 6FB
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
BT1 1PG
 
 
Bankers Danske Bank
  Donegall Square West
  Belfast
  BT1 6JS



Kashmir Belfast Ltd

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Kashmir Belfast 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 14 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 director of Kashmir Belfast Ltd, 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 Director 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 director 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 Kashmir Belfast 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 Kashmir Belfast Ltd. You consider that Kashmir Belfast 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 Kashmir Belfast 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
 
30 October 2024



Kashmir Belfast Ltd
Company Registration Number: NI673053
STATEMENT OF FINANCIAL POSITION
as at 31 January 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 4 54,000 61,000
Property, plant and equipment 5 652,474 653,114
───────── ─────────
Non-Current Assets 706,474 714,114
───────── ─────────
 
Current Assets
Debtors 6 28,678 -
Cash and cash equivalents 5,078 6,094
───────── ─────────
33,756 6,094
───────── ─────────
Creditors: amounts falling due within one year 7 (518,378) (511,025)
───────── ─────────
Net Current Liabilities (484,622) (504,931)
───────── ─────────
Total Assets less Current Liabilities 221,852 209,183
 
Provisions for liabilities 9 (640) (800)
───────── ─────────
Net Assets 221,212 208,383
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 221,112 208,283
───────── ─────────
Equity attributable to owners of the company 221,212 208,383
═════════ ═════════
 
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 Director's 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 director confirms 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 director acknowledges his 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 Director and authorised for issue on 30 October 2024
           
           
________________________________          
Anthony Donnelly          
Director          
           



Kashmir Belfast Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Kashmir Belfast Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI673053. The registered office of the company is 263a Falls Road, Belfast, Antrim, BT12 6FB which is also the principal place of business of the company. The principal activity is that of operating and letting of own or leased real estate. The financial statements have been presented in Pound (£) 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.
 
Intangible assets
 
Alcohol Licence
Alcohol Licence are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 20 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
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:
 
  Fixtures, fittings and equipment - 20% Reducing balance
 
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.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.
 
Trade and other debtors
Trade and other debtors 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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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 creditors
Trade and other creditors 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.
 
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 director, during the financial year was 2.
 
  2024 2023
  Number Number
 
Director 2 2
  ═════════ ═════════
         
4. Intangible assets
  Alcohol Licence    
    Goodwill Total
  £ £ £
Cost
At 1 February 2023 65,000 10,000 75,000
  ───────── ───────── ─────────
 
At 31 January 2024 65,000 10,000 75,000
  ───────── ───────── ─────────
Amortisation
At 1 February 2023 13,000 1,000 14,000
Charge for financial year 6,500 500 7,000
  ───────── ───────── ─────────
At 31 January 2024 19,500 1,500 21,000
  ───────── ───────── ─────────
Net book value
At 31 January 2024 45,500 8,500 54,000
  ═════════ ═════════ ═════════
At 31 January 2023 52,000 9,000 61,000
  ═════════ ═════════ ═════════
         
5. Property, plant and equipment
  Investment Fixtures, Total
  properties fittings and  
    equipment  
  £ £ £
Cost
At 1 February 2023 649,914 5,000 654,914
  ───────── ───────── ─────────
 
At 31 January 2024 649,914 5,000 654,914
  ───────── ───────── ─────────
Depreciation
At 1 February 2023 - 1,800 1,800
Charge for the financial year - 640 640
  ───────── ───────── ─────────
At 31 January 2024 - 2,440 2,440
  ───────── ───────── ─────────
Net book value
At 31 January 2024 649,914 2,560 652,474
  ═════════ ═════════ ═════════
At 31 January 2023 649,914 3,200 653,114
  ═════════ ═════════ ═════════
       
6. Debtors 2024 2023
  £ £
 
Amounts owed by connected parties (Note 11) 1,000 -
Other debtors 27,678 -
  ───────── ─────────
  28,678 -
  ═════════ ═════════
       
7. Creditors 2024 2023
Amounts falling due within one year £ £
 
Other Short Term Loan 502,085 502,085
Trade creditors 3,029 1,850
Amounts owed to connected parties (Note 11) 1,000 -
Taxation  (Note 8) 11,233 5,871
Director's current account 31 -
Other creditors - 219
Accruals 1,000 1,000
  ───────── ─────────
  518,378 511,025
  ═════════ ═════════
       
8. Taxation 2024 2023
  £ £
 
Creditors:
VAT 1,236 1,054
Corporation tax 9,997 4,817
  ───────── ─────────
  11,233 5,871
  ═════════ ═════════
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 800 800 760
Charged to profit and loss (160) (160) 40
  ───────── ───────── ─────────
At financial year end 640 640 800
  ═════════ ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 January 2024.
           
11. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
Northernpropertyni.com Limited 1,000 1,000 - -
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Clondara Property Limited     1,000 -
      ═════════ ═════════
 
Net balances with other connected parties:
      2024 2023
      £ £
 
Northernpropertyni.com Limited     1,000 -
Clondara Property Limited     (1,000) -
      ───────── ─────────
      - -
      ═════════ ═════════
 
During the Year Ended 31st January 2024 both Catherine Donnelly and Declan Donnelly were directors for both Kashmir Belfast Limited and Northernpropertyni.com Limited.

As of 1st February 2023 Kashmir Belfast Limited owed Northernpropertyni.com Limited £nil .During the year, net transactions totalled to £1,000. As of 31st January 2024 the balance owed to Northernpropertyni.com Limited was £1,000.

During the Year Ended 31st January 2023 both Catherine Donnelly and Declan Donnelly were directors for both Kashmir Belfast Limited and Clondara Property Limited.

During the year the company made a loan to Clondara Property Limited amounting to £nil, during the year, net transactions totalled to £1,000. As of 31st January 2024 the balance owed by Clondara Property Limited was £1,000.
   
12. Director's advances, credits and guarantees
 
As at 1st February 2023, the company owed its director £nil. During the financial year the net transactions amount to £31. As at 31st January 2024 the company owed the director £31.
   
13. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.