Northern Property City Centre Limited iXBRL

Company Registration Number: NI618691

Northern Property City Centre Limited

Unaudited Financial Statements

for the financial year ended 31 January 2025

Northern Property City Centre Limited

DIRECTORS AND OTHER INFORMATION


Directors	Catherine Donnelly
	Declan Gerard Donnelly


Company Registration Number	NI618691


Registered Office and Business Address	263 Falls Road
	Belfast
	Co Antrim
	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

Northern Property City Centre Limited

CHARTERED ACCOUNTANTS REPORT

to the Board of Directors on the Compilation of the unaudited financial statements of Northern Property City Centre 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 9 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 Board of Directors of Northern Property City Centre Limited, as a body, 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 Board of Directors 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 Board of Directors, as a body, 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 Northern Property City Centre 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 Northern Property City Centre Limited. You consider that Northern Property City Centre 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 Northern Property City Centre 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

30 October 2025

Northern Property City Centre Limited

Company Registration Number: NI618691

STATEMENT OF FINANCIAL POSITION

as at 31 January 2025

		2025	2024
	Notes	£	£

Current Assets

Receivables

38,540

31,074

Cash and cash equivalents

4,888

160

─────────

43,428

31,234

─────────

Payables: amounts falling due within one year

(27,064)

(41,120)

─────────

Net Current Assets/(Liabilities)

16,364

(9,886)

─────────

Total Assets less Current Liabilities

16,364

(9,886)

═════════

Equity

Called up share capital

100

100

Retained earnings

16,264

(9,986)

─────────

Equity attributable to owners of the company

16,364

(9,886)

═════════

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 Directors' 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 directors confirm 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 directors acknowledge 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 Board and authorised for issue on 30 October 2025 and signed on its behalf by



________________________________
Declan Gerard Donnelly
Director

Northern Property City Centre Limited

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 January 2025

General Information

Northern Property City Centre Limited is a company limited by shares incorporated in Northern Ireland. 263 Falls Road, Belfast, Co Antrim, BT12 6FB is the registered office, which is also the principal place of business of the company. The Principal activity of the company is property sales. 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.

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

25% 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.

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.

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 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.

Employees

The average monthly number of employees, including directors, during the financial year was 2, (2024 - 2).

2025

2024

Number

Number

Director

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4.	Property, plant and equipment
		Fixtures,	Total
		fittings and
		equipment
		£	£
	Cost
	At 1 February 2024	1,509	1,509
		─────────	─────────

	At 31 January 2025	1,509	1,509
		─────────	─────────
	Depreciation
	At 1 February 2024	1,509	1,509
		─────────	─────────

	At 31 January 2025	1,509	1,509
		─────────	─────────
	Carrying amount
	At 31 January 2025	-	-
		═════════	═════════


5.	Receivables	2025	2024
		£	£

	Amounts owed by connected parties (Note 9)	38,540	31,074
		═════════	═════════


6.	Payables	2025	2024
	Amounts falling due within one year	£	£

	Trade payables	59	2,467
	Taxation (Note 7)	18,357	27,655
	Directors' current accounts	7,598	9,948
	Accruals	1,050	1,050
		─────────	─────────
		27,064	41,120
		═════════	═════════


7.	Taxation	2025	2024
		£	£

	Payables:
	Corporation tax	18,357	27,655
		═════════	═════════

Capital commitments

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

Related party transactions

Balance

Movement

Balance

Maximum

2025

in year

2024

in year

Northernpropertyni.com Ltd

31,540

466

31,074

31,074

BT2 Property Limited

7,000

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═════════

38,540

7,466

31,074

═════════

As at 1 February 2024, the balance with Northernpropertyni.com Ltd was £31,074. During the financial year net transactions between the companies was £466. As of 31 January 2025 the balance owed from Northernpropertyni.com Ltd was £31,540.

As at 1 February 2024, the balance with BT2 Property Limited was £Nil. During the financial year net transactions between the companies was £7,000. As of 31 January 2025 the balance owed from Northernpropertyni.com Ltd was £7,000.

10.

Directors' advances, credits and guarantees

As at 1st February 2023 the balance owed between the director and the company is £9,948. During the year net transactions amounted to £2,350. As at 31 January 2024 the balance owed between the director and the company is £7,598.

11.

Events After the End of the Reporting Period

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