Northernpropertyni.com Limited iXBRL

Company Registration Number: NI616495

Northernpropertyni.com Limited

Unaudited Financial Statements

for the financial year ended 31 January 2025

Northernpropertyni.com Limited

DIRECTOR AND OTHER INFORMATION


Directors	Anthony Laurence DONNELLY (Appointed 12 December 2024)
	Catherine Donnelly (Resigned 12 December 2024)
	Declan Donnelly (Resigned 29 July 2024)


Company Registration Number	NI616495


Registered Office and Business Address	263 Falls Road
	Belfast
	BT12 6FB


Accountants	Quarter
	Chartered Accountants
	St Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 1PG


Bankers	Danske Bank
	125A Andersonstown Road
	Co. Antrim
	BT11 9BT

Northernpropertyni.com Limited

CHARTERED ACCOUNTANTS REPORT

to the Director on the Compilation of the unaudited financial statements of Northernpropertyni.com Limited

for the financial year ended 31 January 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 January 2025 as set out on pages to 16 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 Northernpropertyni.com Limited, 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 2025 your duty to ensure that Northernpropertyni.com Limited 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 Northernpropertyni.com Limited. You consider that Northernpropertyni.com Limited 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 Northernpropertyni.com Limited. 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

27 October 2025

Northernpropertyni.com Limited

Company Registration Number: NI616495

STATEMENT OF FINANCIAL POSITION

as at 31 January 2025

		2025	2024
	Notes	£	£

Non-Current Assets

Intangible assets

15,000

17,500

Property, plant and equipment

431,274

448,546

─────────

Non-Current Assets

446,274

466,046

─────────

Current Assets

Receivables

289,531

218,847

Cash and cash equivalents

50,182

14,728

─────────

339,713

233,575

─────────

Payables: amounts falling due within one year

(516,547)

(531,690)

─────────

Net Current Liabilities

(176,834)

(298,115)

─────────

Total Assets less Current Liabilities

269,440

167,931

Payables:

amounts falling due after more than one year

(207,204)

(138,857)

Provisions for liabilities

(11,367)

(26,844)

─────────

Net Assets

50,869

2,230

═════════

Equity

Called up share capital

100

100

Revaluation reserve

33,750

Retained earnings

50,769

(31,620)

─────────

Equity attributable to owners of the company

50,869

2,230

═════════

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 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 27 October 2025



________________________________
Anthony Laurence DONNELLY
Director

Northernpropertyni.com Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 January 2025

General Information

Northernpropertyni.com Limited is a company limited by shares incorporated in Northern Ireland. 263 Falls Road, Belfast, BT12 6FB is the registered office, which is also the principal place of business of the company. 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.

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 January 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 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

Intangible assets 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.

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:

Land and buildings freehold

Fair Value Method

Long leasehold property

2% Straight line

Fixtures, fittings and equipment

20% Straight line

Motor vehicles

20% Straight line

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.

Leasing and hire purchases

Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.

Trade and other receivables

Trade and other receivables 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 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.

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 balance sheet 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.


3.	Employees

	The average monthly number of employees, including director, during the financial year was 16, (2024 - 17).

		2025	2024
		Number	Number

	Director	2	2
	Employees	14	15
		─────────	─────────
		16	17
		═════════	═════════


4.	Intangible assets

			Total
		£	£
	Cost
	At 1 February 2024	25,000	25,000
		─────────	─────────

	At 31 January 2025	25,000	25,000
		─────────	─────────
	Amortisation
	At 1 February 2024	7,500	7,500
	Charge for financial year	2,500	2,500
		─────────	─────────
	At 31 January 2025	10,000	10,000
		─────────	─────────
	Carrying amount
	At 31 January 2025	15,000	15,000
		═════════	═════════
	At 31 January 2024	17,500	17,500
		═════════	═════════


5.	Property, plant and equipment
		Land and	Long	Fixtures,	Motor	Total
		buildings	leasehold	fittings and	vehicles
		freehold	property	equipment
		£	£	£	£	£
	Cost
	At 1 February 2024	354,777	33,896	94,906	70,664	554,243
	Additions	-	-	2,516	133,500	136,016
	Disposals	(124,640)	-	-	-	(124,640)
		─────────	─────────	─────────	─────────	─────────
	At 31 January 2025	230,137	33,896	97,422	204,164	565,619
		─────────	─────────	─────────	─────────	─────────
	Depreciation
	At 1 February 2024	-	5,486	73,919	26,292	105,697
	Charge for the financial year	-	678	11,246	16,724	28,648
		─────────	─────────	─────────	─────────	─────────
	At 31 January 2025	-	6,164	85,165	43,016	134,345
		─────────	─────────	─────────	─────────	─────────
	Carrying amount
	At 31 January 2025	230,137	27,732	12,257	161,148	431,274
		═════════	═════════	═════════	═════════	═════════
	At 31 January 2024	354,777	28,410	20,987	44,372	448,546
		═════════	═════════	═════════	═════════	═════════


6.	Receivables	2025	2024
		£	£

	Trade receivables	17,185	53,476
	Amounts owed by connected parties (Note 12)	265,568	161,296
	Prepayments and accrued income	6,778	4,075
		─────────	─────────
		289,531	218,847
		═════════	═════════

Payables

2025

2024

Amounts falling due within one year

Bank loan

16,698

16,565

Net obligations under finance leases

and hire purchase contracts

19,151

11,355

Trade payables

253,014

270,574

Amounts owed to connected parties (Note 12)

37,540

65,574

Taxation (Note 9)

126,322

71,505

Director's current account

18,961

92,617

Other creditors

37,861

Accruals

7,000

3,500

─────────

516,547

531,690

═════════

Northernpropertyni.com Limited currently has an outstanding charge which was created on 18 February 2019. The charge is held in relation to a loan provided by Northern Bank Limited. This charge contains fixed charges, floating charges over all the property or undertaking of the company and contains a negative pledge.


8.	Payables	2025	2024
	Amounts falling due after more than one year	£	£

	Bank loan	83,061	106,873
	Finance leases and hire purchase contracts	124,143	31,984
		─────────	─────────
		207,204	138,857
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 7)	16,698	16,565
	Repayable between one and two years	9,459	17,446
	Repayable between two and five years	73,602	89,427
		─────────	─────────
		99,759	123,438
		═════════	═════════


	Net obligations under finance leases
	and hire purchase contracts
	Repayable within one year	19,151	11,355
	Repayable between one and five years	67,882	31,984
	Repayable after five years	56,261	-
		─────────	─────────
		143,294	43,339
		═════════	═════════


9.	Taxation	2025	2024
		£	£

	Payables:
	VAT	58,891	50,578
	Corporation tax	51,500	11,086
	PAYE / NI	15,931	9,841
		─────────	─────────
		126,322	71,505
		═════════	═════════

10.

Provisions for liabilities

The amounts provided for deferred taxation are analysed below:

Capital

Property

Total

Total

allowances

revaluations

2025

2024

At financial year start

15,594

11,250

26,844

20,392

Charged to profit and loss

(4,227)

(11,250)

(15,477)

6,452

─────────

At financial year end

11,367

26,844

═════════

11.

Capital commitments

The company had no material capital commitments at the financial year-ended 31 January 2025.

12.

Related party transactions

Balance

Movement

Balance

Maximum

2025

in year

2024

in year

Peak Physique BT9 Limited

(1,149)

1,149

1,149

BT2 Property Services Limited

127,300

Clondara Property Limited

138,268

(21,879)

160,147

160,147

─────────

═════════

265,568

104,272

161,296

═════════

The following amounts are due to other connected parties:

2025

2024

BT2 Property Services Limited

33,500

Northern Property City Centre Limited

31,540

31,074

Kashmir Belfast Limited

6,000

1,000

─────────

37,540

65,574

═════════

Net balances with other connected parties:

2025

2024

Peak Physique BT9 Limited

1,149

BT2 Property Services Limited

127,300

(33,500)

Northern Property City Centre Limited

(31,540)

(31,074)

Kashmir Belfast Limited

(6,000)

(1,000)

Clondara Property Limited

138,268

160,147

─────────

228,028

95,722

═════════

During YE 31 January 2025 Catherine Donnelly and Declan Donnelly were directors in both Northernpropertyni.com and Northern Property City Centre Limited. As at 1 February 2024, the balance with Northern Property City Centre Limited was £31,074. During the financial year net transactions between the companies amounted to £466. As of 31 January 2025 the balance owed to Northern Property City Centre Limited was £31,540.

During the YE 31 January 2025 Anthony Donnelly was a director in BT2 Property Services Limited. As at 1 February 2024, the balance with BT2 Property Services Limited was £33,500. During the financial year net transactions between the companies was £160,800. As of 31 January 2025 the balance owed to BT2 Property Services Limited was £127,300.

During YE 31 January 2025 Anthony Donnelly was a director in both Northernpropertyni.com and Kashmir Belfast Limited. As at 1 February 2024, the balance with Kashmir Belfast Limited was £1,000. During the financial year net transactions between the companies amounted to £5,000 . As of 31 January 2025 the balance owed by Northernpropertyni.com was £6,000.

During YE 31 January 2025 Catherine Donnelly (Anthony's wife) and Declan Donnelly were directors in Northernpropertyni.com and Clondara Property Limited. As at 1 February 2024, the balance with Clondara Property Limited was £160,147. During the financial year net transactions between the companies amounted to £21,879. As of 31 January 2025 the balance owed to Northernpropertyni.com was £138,268.

During YE 31 January 2025 Catherine Donnelly and Declan Donnelly were directors in both Northernpropertyni.com and Peak Physique BT9 Limited. As at 1 February 2024, the balance with Peak Physique BT9 Limited was £1,149. During the financial year net transactions between the companies amounted to £1,149. As of 31 January 2025 the balance owed to Northernpropertyni.com was £Nil.

13.

Director's advances, credits and guarantees

As at 1 February 2024 the company owed the directors £92,617. During the year the net transactions amounted to £73,656. As at the 31 January 2025 the company owed the directors £18,961. This amount is interest free and repayable on demand.

14.

Events After the End of the Reporting Period

There have been no significant events affecting the company since the financial year-end.