Company Registration No. NI071146 (Northern Ireland)
Ballycullen Property Development Company Limited
Unaudited accounts
for the year ended 31 March 2025
Ballycullen Property Development Company Limited
Statement of financial position
as at 31 March 2025
Inventories
686,202
657,752
Cash at bank and in hand
6,285
19,247
Creditors: amounts falling due within one year
(696,468)
(674,536)
Net current assets
18,077
25,851
Called up share capital
100
100
Profit and loss account
18,022
25,863
Shareholders' funds
18,122
25,963
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by
Desmond Stephens
Director
Company Registration No. NI071146
Ballycullen Property Development Company Limited
Notes to the Accounts
for the year ended 31 March 2025
Ballycullen Property Development Company Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI071146. The registered office is Unit 2 Channel Wharf, 21 Old Channel Road, Belfast, Antrim, BT3 9DE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The directors believe that the company Ballycullen Property Development Company Limited has adequate resources available to enable it to continue to meet its ongoing obligations as and when they fall due for at least a period of 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and revenue can be measured reliably. Revenue from the rental of property is measured as the fair value of any consideration received or receivable, excluding discounts, value added taxes and other sales taxes.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The stock balance as at 1 April 2023 has been restated to correctly recognise the cost of development property held in the name of the company. As a result, the stock and directors current account balances increased by £395,000, respectively. There has been no impact on the profit and loss account.
Ballycullen Property Development Company Limited
Notes to the Accounts
for the year ended 31 March 2025
4
Tangible fixed assets
Fixtures & fittings
Amounts falling due within one year
Accrued income and prepayments
21,887
23,396
6
Creditors: amounts falling due within one year
2025
2024
Loans from directors
694,419
671,420
Allotted, called up and fully paid:
100 Ordinary Shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 0 (2024: 0).