BrightAccountsProduction v1.0.0 v1.0.0 2024-06-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is IT consultancy. 6 August 2025 1 1 NI603080 2025-05-31 NI603080 2024-05-31 NI603080 2023-05-31 NI603080 2024-06-01 2025-05-31 NI603080 2023-06-01 2024-05-31 NI603080 uk-bus:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 NI603080 uk-curr:PoundSterling 2024-06-01 2025-05-31 NI603080 uk-bus:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 NI603080 uk-bus:FullAccounts 2024-06-01 2025-05-31 NI603080 uk-bus:Director1 2024-06-01 2025-05-31 NI603080 uk-bus:RegisteredOffice 2024-06-01 2025-05-31 NI603080 uk-bus:Agent1 2024-06-01 2025-05-31 NI603080 uk-bus:AuditExemptWithAccountantsReport 2024-06-01 2025-05-31 NI603080 uk-core:ShareCapital 2025-05-31 NI603080 uk-core:ShareCapital 2024-05-31 NI603080 uk-core:RetainedEarningsAccumulatedLosses 2025-05-31 NI603080 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI603080 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-05-31 NI603080 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI603080 uk-bus:FRS102 2024-06-01 2025-05-31 NI603080 uk-core:FurnitureFittingsToolsEquipment 2024-06-01 2025-05-31 NI603080 uk-core:CostValuation 2025-05-31 NI603080 uk-core:Subsidiary1 2024-06-01 2025-05-31 NI603080 uk-core:WithinOneYear 2025-05-31 NI603080 uk-core:WithinOneYear 2024-05-31 NI603080 uk-core:OtherMiscellaneousReserve 2024-05-31 NI603080 uk-core:OtherMiscellaneousReserve 2024-06-01 2025-05-31 NI603080 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-05-31 NI603080 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-05-31 NI603080 uk-core:OtherDeferredTax 2025-05-31 NI603080 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-05-31 NI603080 uk-core:OtherMiscellaneousReserve 2025-05-31 NI603080 2024-06-01 2025-05-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI603080
 
 
Process N Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2025



Process N Ltd
DIRECTOR AND OTHER INFORMATION

 
Director James Waldron
 
 
Company Registration Number NI603080
 
 
Registered Office 10 Rotterdam Court
Belfast
BT5 4DT
 
 
Business Address 10 Rotterdam Court
Belfast
BT5 4DT
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
 
Bankers Starling Bank
  5th Floor, London Fruit & Wool Exchange
  1 Duval Square
  London
  E1 6PW
  United Kingdom



Process N Ltd

CHARTERED ACCOUNTANTS REPORT
to the Director on the Compilation of the unaudited financial statements of Process N Ltd
for the financial year ended 31 May 2025
 
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 May 2025 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 director of Process N 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 May 2025 your duty to ensure that Process N 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 Process N Ltd. You consider that Process N 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 Process N 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
Belfast
BT1 1PG
 
6 August 2025



Process N Ltd
Company Registration Number: NI603080
STATEMENT OF FINANCIAL POSITION
as at 31 May 2025

2025 2024
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 1,114 897
Financial assets 5 77 77
───────── ─────────
Non-Current Assets 1,191 974
───────── ─────────
 
Current Assets
Cash and cash equivalents 280,046 277,898
Payables: amounts falling due within one year 6 (89,053) (89,532)
───────── ─────────
Net Current Assets 190,993 188,366
───────── ─────────
Total Assets less Current Liabilities 192,184 189,340
 
Provisions for liabilities 7 (212) (171)
───────── ─────────
Net Assets 191,972 189,169
═════════ ═════════
 
Equity
Called up share capital 1 1
Retained earnings 191,971 189,168
───────── ─────────
Equity attributable to owners of the company 191,972 189,169
═════════ ═════════
 
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 May 2025 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 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 Director and authorised for issue on 6 August 2025
           
           
________________________________          
James Waldron          
Director          
           



Process N Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2025

   
1. General Information
 
Process N Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI603080. The registered office of the company is 10 Rotterdam Court, Belfast, BT5 4DT. The nature of the company's operations and its principal activities are set out in the Director's Report. 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 year ended 31 May 2025 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.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
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.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
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.
 
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.
 
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.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2024 - 1).
 
  2025 2024
  Number Number
 
Director 1 1
  ═════════ ═════════
       
4. Property, plant and equipment
  Fixtures, Total
  fittings and  
  equipment  
  £ £
Cost
At 1 June 2024 8,763 8,763
Additions 449 449
  ───────── ─────────
At 31 May 2025 9,212 9,212
  ───────── ─────────
Depreciation
At 1 June 2024 7,866 7,866
Charge for the financial year 232 232
  ───────── ─────────
At 31 May 2025 8,098 8,098
  ───────── ─────────
Carrying amount
At 31 May 2025 1,114 1,114
  ═════════ ═════════
At 31 May 2024 897 897
  ═════════ ═════════
       
5. Financial fixed assets
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 May 2025 77 77
  ───────── ─────────
Carrying amount
At 31 May 2025 77 77
  ═════════ ═════════
At 31 May 2024 77 77
  ═════════ ═════════
             
5.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
Fanad Lighthouse Tavern Limited Ireland Public House & Restaurant   Ordinary 100
 
 
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
 
  Year ended Capital and     Profit for
    reserves     the year
    £     £
 
Fanad Lighthouse Tavern Limited 31 December 2024 311,958     5,272
    ═════════     ═════════
 
In the opinion of the director, the value to the company of the unlisted investments is not less than the book amount shown above.
       
6. Payables 2025 2024
Amounts falling due within one year £ £
 
Amounts owed to group undertakings (Note 8) 86,921 86,889
Director's current account 1,337 1,848
Accruals 795 795
  ───────── ─────────
  89,053 89,532
  ═════════ ═════════
         
7. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2025 2024
  £ £ £
 
At financial year start 171 171 213
Charged to profit and loss 41 41 (42)
  ───────── ───────── ─────────
At financial year end 212 212 171
  ═════════ ═════════ ═════════
         
8. Related party transactions
 
Transactions and balances with group company:
 
    2025 2024
    £ £
 
Fanad Lighthouse Tavern Limited
 
Process N Limited and Fanad Lighthouse Tavern Limited are group companies.  As at 1st June 2024 there was £86,889 balance owing to Fanad Lighthouse Tavern Limited. During the year, there was net transactions of £32. As at 31st May 2025, Process N Limited owed £86,921 to Fanad Lighthouse Tavern Limited.
 
Amount (owed to) Fanad Lighthouse Tavern Limited   (86,921) (86,889)
    ═════════ ═════════