5 3 Belfast Chamber of Trade and Commerce Limited NI652015 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is activities of business and employers membership organisations. Digita Accounts Production Advanced 6.30.9574.0 true NI652015 2024-04-01 2025-03-31 NI652015 2025-03-31 NI652015 core:CurrentFinancialInstruments 2025-03-31 NI652015 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 NI652015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2025-03-31 NI652015 core:OfficeEquipment 2025-03-31 NI652015 bus:SmallEntities 2024-04-01 2025-03-31 NI652015 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 NI652015 bus:FilletedAccounts 2024-04-01 2025-03-31 NI652015 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 NI652015 bus:RegisteredOffice 2024-04-01 2025-03-31 NI652015 bus:Director5 2024-04-01 2025-03-31 NI652015 bus:CompanyLimitedByGuarantee 2024-04-01 2025-03-31 NI652015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-01 2025-03-31 NI652015 core:IntangibleAssetsOtherThanGoodwill 2024-04-01 2025-03-31 NI652015 core:OfficeEquipment 2024-04-01 2025-03-31 NI652015 countries:AllCountries 2024-04-01 2025-03-31 NI652015 2024-03-31 NI652015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 NI652015 core:OfficeEquipment 2024-03-31 NI652015 2023-04-01 2024-03-31 NI652015 2024-03-31 NI652015 core:CurrentFinancialInstruments 2024-03-31 NI652015 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 NI652015 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-31 NI652015 core:OfficeEquipment 2024-03-31 xbrli:pure iso4217:GBP

Registration number: NI652015

Belfast Chamber of Trade and Commerce Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Belfast Chamber of Trade and Commerce Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Belfast Chamber of Trade and Commerce Limited

(Registration number: NI652015)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

17,318

27,928

Tangible assets

5

2,216

1,221

 

19,534

29,149

Current assets

 

Debtors

6

35,845

50,560

Cash at bank and in hand

 

399,655

326,050

 

435,500

376,610

Creditors: Amounts falling due within one year

7

(80,688)

(105,175)

Net current assets

 

354,812

271,435

Net assets

 

374,346

300,584

Reserves

 

Other reserves

80,298

80,298

Retained earnings

294,048

220,286

Surplus

 

374,346

300,584

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 August 2025 and signed on its behalf by:
 

.........................................
Gavin Annon
Director

 

Belfast Chamber of Trade and Commerce Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by guarantee, registered in Northern Ireland, registration number NI652015.

The address of its registered office is:
Suite 108 Custom House
Belfast
Antrim
BT1 3ET
Northern Ireland

These financial statements were authorised for issue by the Board on 15 August 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity. The level of rounding is to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Belfast Chamber of Trade and Commerce Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

20% straight line

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Development costs

Research expenditure is written off in the period in which it is incurred.

Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:

It is technically feasible to complete the intangible asset so that it will be available for use or sale;

There is the intention to complete the intangible asset and use or sell it;

There is the ability to use or sell the intangible asset;

The use or sale of the intangible asset will generate probable future economic benefits;

There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and

The expenditure attributable to the intangible asset during its development can be measured reliably.

Expenditure that does not meet the above criteria is expensed as incurred.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Development costs

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Belfast Chamber of Trade and Commerce Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company during the year, was 5 (2024 - 3).

 

Belfast Chamber of Trade and Commerce Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Intangible assets

Development costs
 £

Total
£

Cost or valuation

At 1 April 2024

27,928

27,928

At 31 March 2025

27,928

27,928

Amortisation

Amortisation charge

10,610

10,610

At 31 March 2025

10,610

10,610

Carrying amount

At 31 March 2025

17,318

17,318

At 31 March 2024

27,928

27,928

5

Tangible assets

Fixtures & fittings
£

Total
£

Cost or valuation

At 1 April 2024

6,314

6,314

Additions

2,602

2,602

At 31 March 2025

8,916

8,916

Depreciation

At 1 April 2024

5,093

5,093

Charge for the year

1,607

1,607

At 31 March 2025

6,700

6,700

Carrying amount

At 31 March 2025

2,216

2,216

At 31 March 2024

1,221

1,221

 

Belfast Chamber of Trade and Commerce Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

Current

2025
£

2024
£

Trade debtors

16,801

33,445

Prepayments

19,044

17,115

 

35,845

50,560

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

9,505

8,117

Taxation and social security

14,923

10,176

Accruals and deferred income

56,260

86,882

80,688

105,175