Company registration number NI022853 (Northern Ireland)
TITANIC TRADEMARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TITANIC TRADEMARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
TITANIC TRADEMARK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
1,757
1,757
Creditors: amounts falling due within one year
5
(1,500)
(1,500)
Net current assets
257
257
Capital and reserves
Called up share capital
1,582,500
1,582,500
Share premium account
11,145,081
11,145,081
Profit and loss reserves
(12,727,324)
(12,727,324)
Total equity
257
257

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The financial statements were approved by the board of directors and authorised for issue on 13 May 2025 and are signed on its behalf by:
Mr J Eyre
Director
Company Registration No. NI022853
TITANIC TRADEMARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Titanic Trademark Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is Titanic House, Queens Road, Queen's Island, Belfast, Co. Antrim, Northern Ireland, BT3 9DT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

TITANIC TRADEMARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,757
1,757
TITANIC TRADEMARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,500
1,500
6
Contingencies

On 15 February 2022, Titanic Properties Limited, Titanic Properties (Arc Management) Limited, Titanic Holdings Limited, Titanic Island Limited, Titanic Property Development Limited, and Titanic Trademark Limited, entered into a 5 year refinancing agreement with Danske Bank. As part of this arrangement the entities have entered into a full cross intercompany guarantee.

In addition, on 15 February 2022, Titanic Quarter Limited, Titanic Properties Limited, Titanic Properties (Arc Management) Limited, Titanic Holdings Limited, Titanic Island Limited, Titanic Property Development Limited, and Titanic Trademark Limited entered into a 5 year refinancing agreement with Realview Limited (a related party of the company) alongside Danske Bank.

There was in place at the year end an all monies debenture conferring on Realview Limited a fixed and floating security over the group's property and assets. As part of this arrangement the entities have also entered into a full cross intercompany guarantee.

Due to the various factors that may impact on the above guarantees it is not possible to quantify the amounts that could be involved or give any indication as to the timing of when a liability may arise.

7
Parent company

The Company is a subsidiary undertaking of Titanic Holdings Limited, a company incorporated in Northern Ireland. The results and business review of Titanic Holdings Limited and subsidiaries are included in the financial statements of Titanic Property Development Limited, which are publicly available at Companies House, 32-38 Linenhall Street, Belfast.

The Directors consider the ultimate parent company to be Titanic Property Development Limited, which is incorporated in Northern Ireland. The ultimate parent company is under the joint control of The Entice Limited Partnership which is ultimately beneficially owned by Mr D Desmond and Dockside Investments Limited which is ultimately beneficially owned by the family of Mr P Doherty.

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