BrightAccountsProduction v1.0.0 v1.0.0 2024-01-31 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the letting and management of commercial property. 24 October 2025 2 NI709493 2025-01-31 NI709493 2024-01-30 NI709493 2024-01-31 2025-01-31 NI709493 uk-bus:PrivateLimitedCompanyLtd 2024-01-31 2025-01-31 NI709493 uk-curr:PoundSterling 2024-01-31 2025-01-31 NI709493 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-31 2025-01-31 NI709493 uk-bus:FullAccounts 2024-01-31 2025-01-31 NI709493 uk-bus:Director1 2024-01-31 2025-01-31 NI709493 uk-bus:Director2 2024-01-31 2025-01-31 NI709493 uk-bus:RegisteredOffice 2024-01-31 2025-01-31 NI709493 uk-bus:Agent1 2024-01-31 2025-01-31 NI709493 uk-core:ShareCapital 2025-01-31 NI709493 uk-core:RetainedEarningsAccumulatedLosses 2025-01-31 NI709493 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2025-01-31 NI709493 uk-bus:FRS102 2024-01-31 2025-01-31 NI709493 uk-core:PlantMachinery 2024-01-31 2025-01-31 NI709493 uk-core:MotorVehicles 2024-01-31 2025-01-31 NI709493 uk-core:CurrentFinancialInstruments 2025-01-31 NI709493 uk-core:WithinOneYear 2025-01-31 NI709493 uk-core:WithinOneYear 2025-01-31 NI709493 uk-core:WithinOneYear 2025-01-31 NI709493 uk-core:AfterOneYear 2025-01-31 NI709493 uk-core:AfterOneYear 2025-01-31 NI709493 uk-core:AfterOneYear 2025-01-31 NI709493 uk-core:BetweenOneTwoYears 2025-01-31 NI709493 uk-core:BetweenTwoFiveYears 2025-01-31 NI709493 uk-core:MoreThanFiveYears 2025-01-31 NI709493 uk-core:BetweenOneFiveYears 2025-01-31 NI709493 uk-core:EmployeeBenefits 2024-01-30 NI709493 uk-core:EmployeeBenefits 2024-01-31 2025-01-31 NI709493 uk-core:AcceleratedTaxDepreciationDeferredTax 2025-01-31 NI709493 uk-core:TaxLossesCarry-forwardsDeferredTax 2025-01-31 NI709493 uk-core:OtherDeferredTax 2025-01-31 NI709493 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2025-01-31 NI709493 uk-core:EmployeeBenefits 2025-01-31 NI709493 uk-core:ParentEntities 2024-01-31 2025-01-31 NI709493 uk-countries:NorthernIreland 2024-01-31 2025-01-31 NI709493 uk-bus:AuditExempt-NoAccountantsReport 2024-01-31 2025-01-31 xbrli:pure iso4217:GBP xbrli:shares

Company Registration Number: NI709493

Woodland Propco NI Ltd

Date of Incorporation

31 January 2024

Unaudited Financial Statements

for the financial period ended 31 January 2025

Woodland Propco NI Ltd

Directors and Other Information

Directors | Brian McCloskey (Appointed 31 January 2024)
| Mr Don Mulholland (Appointed 12 April 2024)
Company Registration Number | NI709493
Registered Office | 4 Portna Road, Rasharkin
| Ballymena
| Co Antrim
| BT44 8SX
| Northern Ireland
Accountants | HCA Chartered Accountants Ltd
| Chartered Accountants
| 12 Cromac Place,
| The Gasworks,
| Belfast
| en-ie
| BT7 2JB
| en-gb
Bankers | Bank of Ireland
| Market Street
| Magherafelt
| Derry
| BT45 6EE
| Northern Ireland
Solicitors | McMahon McKay
| Aisling House
| 50 Stranmillis Embankment
| Belfast
| BT9 5FL

Woodland Propco NI Ltd

Company Registration Number: NI709493

Balance Sheet

as at 31 January 2025

|  |  | Jan 25
|  | Notes | £
Fixed Assets

Tangible assets |  | 7 | 5,193,245
|  |  | ─────────
Current Assets

Debtors |  | 8 | 637,851
Creditors: amounts falling due within one year |  | 9 | (482,181)
|  |  | ─────────
Net Current Assets |  |  | 155,670
|  |  | ─────────
Total Assets less Current Liabilities |  |  | 5,348,915
Creditors:

amounts falling due after more than one year |  | 10 | (5,014,195)
Provisions for liabilities |  | 12 | (15,711)
Government grants |  | 13 | (259,978)
|  |  | ─────────
Net Assets |  |  | 59,031
|  |  | ═════════
Capital and Reserves

Called up share capital |  |  | 1
Retained earnings |  |  | 59,030
|  |  | ─────────
Equity attributable to owners of the company |  |  | 59,031
|  |  | ═════════
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 Profit and Loss Account and Directors' Report.

For the financial period 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 period 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 period and of its profit and loss for the financial period 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 24 October 2025 and signed on its behalf by

________________________________ |  |  |
Brian McCloskey |  |  |
Director |  |  |

Woodland Propco NI Ltd

Notes to the Financial Statements

for the financial period ended 31 January 2025

1. | General Information
| Woodland Propco NI Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI709493. The registered office of the company is 4 Portna Road, Rasharkin, Ballymena, Co Antrim, BT44 8SX, Northern Ireland. The principal activity of the company is the letting and management of commercial property. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. | 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 financial period ended 31 January 2025 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
| Basis of preparation
| The financial statements have been prepared on the going concern basis and 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.
| Tangible assets and depreciation
| Tangible assets 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 tangible assets, less their estimated residual value, over their expected useful lives as follows:
|  | Plant and machinery | - | 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.
| Investment properties
| Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Profit and Loss Account as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Profit and Loss Account.
| Leasing and hire purchases
| Tangible assets 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 Balance Sheet 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 Profit and Loss Account.
| Trade and other debtors
| Trade and other debtors 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 creditors
| Trade and other creditors 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 period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet 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.
| Government grants
| Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
| Foreign currencies
| Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet 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 Profit and Loss Account.
| Ordinary share capital
| The ordinary share capital of the company is presented as equity.

3. | Adoption of FRS 102 Section 1A
| This is the first set of financial statements prepared by Woodland Propco NI Ltd in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 January 2016.

4. | Period of financial statements
| The financial statements are for the 12 month 1 day period ended 31 January 2025.
| Date company was incorporated:
| 31 January 2024

5. | Statement on previous periods
| The company did not present financial statements for previous periods.

6. | Employees
| The average monthly number of employees, including directors, during the financial period was 2.
|  | Jan 25
|  | Number
| Director | 2
|  | ═════════

7. | Tangible assets
|  | Investment | Plant and | Motor | Total
|  | properties | machinery | vehicles |
|  | £ | £ | £ | £
| Cost
| At 31 January 2024 | - | - | - | -
| Additions | 132,635 | 58,759 | 49,500 | 240,894
| Transfers | 4,860,443 | 141,950 | - | 5,002,393
|  | ───────── | ───────── | ───────── | ─────────
| At 31 January 2025 | 4,993,078 | 200,709 | 49,500 | 5,243,287
|  | ───────── | ───────── | ───────── | ─────────
| Depreciation
| At 31 January 2024 | - | - | - | -
| Charge for the financial period | - | 40,142 | 9,900 | 50,042
|  | ───────── | ───────── | ───────── | ─────────
| At 31 January 2025 | - | 40,142 | 9,900 | 50,042
|  | ───────── | ───────── | ───────── | ─────────
| Net book value
| At 31 January 2025 | 4,993,078 | 160,567 | 39,600 | 5,193,245
|  | ═════════ | ═════════ | ═════════ | ═════════
| Assets described at transfers are those hived down from the company's parent company, Portna Properties Limited. Associated government grants received thereon were also hived down.

7.1. | Tangible assets continued
| Included above are assets held under finance leases or hire purchase contracts as follows:
|  | Jan 25 |
|  | Net | Depreciation
|  | book value | charge
|  | £ | £
| Motor vehicles | 39,600 | 9,900
|  | ═════════ | ═════════

8. | Debtors | Jan 25
|  | £
| Amounts owed by connected parties (Note 15) | 347,297
| Other debtors | 278,750
| Prepayments and accrued income | 11,804
|  | ─────────
|  | 637,851
|  | ═════════

9. | Creditors | Jan 25
| Amounts falling due within one year | £
| Bank overdrafts | 95,413
| Bank loan | 176,136
| Lomond Properties Limited loan | 25,000
| Net obligations under finance leases
| and hire purchase contracts | 14,174
| Trade creditors | 32,392
| Amounts owed to group undertakings (Note 15) | 120,000
| Taxation (Note 11) | 13,066
| Accruals | 6,000
|  | ─────────
|  | 482,181
|  | ═════════
| The bank loan (BOI UK PLC) is secured by a fixed and floating charge and negative pledge on the premises at 4 Portna Road, Rasharkin, Ballymena and on rental income derived therefrom.

10. | Creditors | Jan 25
| Amounts falling due after more than one year | £
| Bank loan | 2,535,478
| Lomond Properties Limited | 275,000
| Finance leases and hire purchase contracts | 21,326
| Amounts owed to group undertakings (Note 15) | 2,182,391
|  | ─────────
|  | 5,014,195
|  | ═════════
| Loans
| Repayable in one year or less, or on demand (Note 9) | 296,549
| Repayable between one and two years | 220,456
| Repayable between two and five years | 628,128
| Repayable in five years or more | 1,961,894
|  | ─────────
|  | 3,107,027
|  | ═════════
| Net obligations under finance leases
| and hire purchase contracts
| Repayable within one year | 14,174
| Repayable between one and five years | 21,326
|  | ─────────
|  | 35,500
|  | ═════════

11. | Taxation | Jan 25
|  | £
| Creditors:
| VAT | 11,601
| Corporation tax | 1,465
|  | ─────────
|  | 13,066
|  | ═════════

12. | Provisions for liabilities
| The amounts provided for deferred taxation are analysed below:
|  | Capital | Total
|  | allowances |
|  |  | Jan 25
|  | £ | £
| At financial period start | - | -
| Charged to profit and loss | 15,711 | 15,711
|  | ───────── | ─────────
| At financial period end | 15,711 | 15,711
|  | ═════════ | ═════════

13. | Government Grants Deferred | Jan 25
|  | £
| Increase in financial period | 259,978
|  | ═════════

14. | Capital commitments
| The company had no material capital commitments at the financial period-ended 31 January 2025.

15. | Related party transactions
| Transactions with related parties include loans to the following companies:
|  | Balance | Movement | Maximum
|  | Jan 25 | in period | in period
|  | £ | £ | £
| Drumsaragh Frams Limited | 286,640 | 286,640 | 286,640
| Mark Distribtion Limited | 60,657 | 60,657 | 60,667
|  | ───────── | ───────── | ═════════
|  | 347,297 | 347,297 |
|  | ═════════ | ═════════ |
| Drumsaragh Farms Limited is a related party as Brian McCloskey is a director in both that company and in Portna Properties Limited, the parent company company of Woodland Propco NI Limited. Mark Distribution Limited is a related party as Connor McCloskey is a director in both that company and Portna Properties Limited, the parent company company of Woodland Propco NI Limited.

| Transactions and balances with group company:
|  |  | Jan 25
|  |  | £
| Group Undertaking Creditors
| Portna Properties Limited |  | 120,000
|  |  | ═════════
| Amounts (owed to) group undertakings over 1 year |  | (2,182,391)
|  |  | ═════════

16. | Parent company
| The company regards Portna Properties Limited as its parent company.

17. | Post-Balance Sheet Events
| There have been no significant events affecting the company since the financial period-end.