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Company Registration No. NI034454 (Northern Ireland)
Belfast Insulation Co. Limited Unaudited accounts for the year ended 30 April 2025
Belfast Insulation Co. Limited Statement of financial position as at 30 April 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
120,020
94,526
Current assets
Inventories
5
15,960
17,000
Debtors
6
651,977
656,519
Cash at bank and in hand
538,652
442,800
1,206,589
1,116,319
Creditors: amounts falling due within one year
7
(631,468)
(741,880)
Net current assets
575,121
374,439
Total assets less current liabilities
695,141
468,965
Creditors: amounts falling due after more than one year
8
(1,665)
(9,665)
Net assets
693,476
459,300
Capital and reserves
Called up share capital
9
8
8
Profit and loss account
693,468
459,292
Shareholders' funds
693,476
459,300
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by
Samuel Kenneth Gilpin Director Company Registration No. NI034454
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Belfast Insulation Co. Limited Notes to the Accounts for the year ended 30 April 2025
1
Statutory information
Belfast Insulation Co. Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI034454. The registered office is 81 Whinney Hill, Dundonald, Belfast, Northern Ireland, BT16 0UA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Motor vehicles
25% Reducing Balance
Going concern
Having reviewed the resources available, the directors believe that the company has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in the preparation of its financial statements.
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Turnover from the rendering of construction installation services is recognised by reference to the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Belfast Insulation Co. Limited Notes to the Accounts for the year ended 30 April 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
£
£
£
Cost or valuation
At cost
At cost
At 1 May 2024
184,148
166,326
350,474
Additions
7,713
43,420
51,133
At 30 April 2025
191,861
209,746
401,607
Depreciation
At 1 May 2024
137,785
118,163
255,948
Charge for the year
9,886
15,753
25,639
At 30 April 2025
147,671
133,916
281,587
Net book value
At 30 April 2025
44,190
75,830
120,020
At 30 April 2024
46,363
48,163
94,526
5
Inventories
2025
2024
£
£
Finished goods
15,960
17,000
15,960
17,000
6
Debtors
2025
2024
£
£
Amounts falling due within one year
VAT
62,638
68,177
Trade debtors
575,368
575,698
Accrued income and prepayments
13,971
12,644
651,977
656,519
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
8,000
8,000
Trade creditors
454,737
526,810
Taxes and social security
116,600
133,050
Loans from directors
38,074
50,558
Accruals
14,057
23,462
631,468
741,880
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
1,665
9,665
Security on the loan is provided by way of fixed and floating charge of the assets of the company.
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Belfast Insulation Co. Limited Notes to the Accounts for the year ended 30 April 2025
9
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
1 Ordinary A shares of £1 each
1
1
3 Ordinary B shares of £1 each
3
3
4 Ordinary C shares of £1 each
4
4
8
8
10
Average number of employees
During the year the average number of employees was 17 (2024: 19).
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