Registration number: NI067989

The Federation of Passenger Transport Northern Ireland Limited

(Registration number: NI067989)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	781	1,042
Current assets
Debtors	5	4,303	2,843
Cash at bank and in hand		31,855	27,583
		36,158	30,426
Creditors : due within one year	6	(6,557)	(4,044)
Net current assets		29,601	26,382
Net assets		30,382	27,424
Capital and reserves
Retained earnings		30,382	27,424
Shareholders' funds		30,382	27,424

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Caroline McComb Director

The Federation of Passenger Transport Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Ecos Centre, Broughshane Road, Ballymena, Co. Antrim, BT43 7QA.

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents membership subscriptions, insurance industry rebates, income from training fees and event fees which have been received during the accounting period.

Government grants

Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable. Revenue grants subject to performance-related conditions are recognised when these conditions are met.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% reducing balance

The Federation of Passenger Transport Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 1).

The Federation of Passenger Transport Northern Ireland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Office equipment  £	Total £
Cost or valuation
At 1 January 2024	8,359	8,359
At 31 December 2024	8,359	8,359
Depreciation
At 1 January 2024	7,317	7,317
Charge for the year	261	261
At 31 December 2024	7,578	7,578
Carrying amount
At 31 December 2024	781	781
At 31 December 2023	1,042	1,042

5

Debtors

	2024 £	2023 £
Trade debtors	4,303	2,843
	4,303	2,843