REGISTERED NUMBER: NI663315 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2025

FOR

PMCM PROPERTIES (NI) LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTOR:

P McClean

REGISTERED OFFICE:

17 Clarendon Road Clarendon Dock

Belfast

United Kingdom

BT1 3BG

REGISTERED NUMBER:

NI663315 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Belfast

BT1 3BG

FIXED ASSETS

Tangible assets

4

3,064,999

1,070,782

CURRENT ASSETS

Debtors

5

76,233

10,281

Cash at bank

12,102

23,150

88,335

33,431

CREDITORS

Amounts falling due within one year

6

1,390,612

809,974

NET CURRENT LIABILITIES

(1,302,277

)

(776,543

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,762,722

294,239

CREDITORS

Amounts falling due after more than one year

7

(1,532,576

)

(215,026

)

PROVISIONS FOR LIABILITIES

(60,825

)

(5,788

)

NET ASSETS

169,321

73,425

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

169,221

73,325

169,321

73,425

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 November 2025 and were signed by:

P McClean - Director

1.	STATUTORY INFORMATION

PMCM Properties (NI) Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

In preparing these financial statements the directors have made the following judgements:

In relation to the value of investment property the directors' experience and knowledge of the sector are utilised in the valuation methodology but there is an inevitable degree of judgement involved, in that each property is unique and value can only ultimately be reliably tested in the market itself.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Financial instruments

All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors

Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

- Loans and borrowings

All loans and borrowings are initially recorded at the present value of cash payable to the lender in settlement of the liability discounted at the market interest rate. Subsequently loans and borrowings are stated at amortised cost using the effective interest rate method. The computation of amortised cost includes any issue costs, transaction costs and fees, and any discount or premium on settlement, and the effect of this is to amortise these amounts over the expected borrowing period. Loans with no stated interest rate and repayable within one period or on demand are not amortised. Loans and borrowings are classified as current liabilities unless the borrower has an unconditional right to defer settlement of the liability for at least 12 months after the financial period end date.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	INVESTMENT PROPERTY

Investment

property

£

COST OR VALUATION

At 1 May 2024

1,070,782

Additions

1,841,593

Revaluations

152,624

At 30 April 2025

3,064,999

NET BOOK VALUE

At 30 April 2025

3,064,999

At 30 April 2024

1,070,782

Cost or valuation at 30 April 2025 is represented by:

Investment

property

£

Valuation in 2021

23,151

Valuation in 2025

152,623

Cost

2,889,225

3,064,999

If investment property had not been revalued it would have been included at the following historical cost:

30.4.25

30.4.24

£

£

Cost

2,889,225

-

Investment property was valued on an open market basis on 30 April 2025 by the director .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Trade debtors

7,545

1,264

Other debtors

68,688

9,017

76,233

10,281

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans and overdrafts

42,569

22,727

Taxation and social security

1,479

5,600

Other creditors

1,346,564

781,647

1,390,612

809,974

Included in other creditors is an amount of £176,145 (2024: £10,179) owed to the director. This loan is unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.25

30.4.24

£

£

Bank loans

1,532,576

215,026

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

1,330,567

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.25

30.4.24

£

£

Bank loans

1,575,145

237,753

The bank loans are secured by a fixed charge over the company's investment property. The carrying amount of the properties subject to security is £2,705,000.

A debenture has also been granted by the company held by Barclays Security Trustee Limited for the benefit of Barclays Bank UK PLC and Barclays Bank PLC.

9.	RELATED PARTY DISCLOSURES

Included in Other Creditors is an amount of £995,718 (2024: £747,718) due to a company in which the director has a controlling interest. During the year the company received £695,000 from this company and repaid £447,000. This loan is unsecured, interest free and repayable on demand.

Also included in Other Creditors is an amount of £81,620 (2024: £1,500) due to another company in which the director has a controlling interest. This company paid expenses on behalf of PMCM Properties Ltd of £120. PMCM Properties NI received £105,000 from this company during the year and repaid £25,000. The loan is unsecured, interest free and repayable on demand.