Registration number: NI612673

Mint Properties (N.I.) Limited

(Registration number: NI612673)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	40,462	50,938
Investments	6	172,979	172,223
		213,441	223,161
Current assets
Stocks		303,855	749,080
Debtors	7	724,521	470,042
Cash at bank and in hand		62,229	69,121
		1,090,605	1,288,243
Creditors : due within one year	8	(237,886)	(238,156)
Net current assets		852,719	1,050,087
Total assets less current liabilities		1,066,160	1,273,248
Creditors : due after more than one year	9	(55,970)	(258,090)
Provisions for liabilities		(10,115)	(12,734)
Net assets		1,000,075	1,002,424
Capital and reserves
Called up share capital	10	1	1
Retained earnings		1,000,074	1,002,423
Shareholders' funds		1,000,075	1,002,424

For the financial 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.

 

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Mint Properties (N.I.) Limited

(Registration number: NI612673)
Balance Sheet as at 31 March 2025

Approved and authorised by the director on 30 December 2025
 

............................................. Mr Ivan James Moore Pollin Director

Mint Properties (N.I.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

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

The address of its registered office is: 41 Donegall Street, Belfast, Co Antrim, BT1 2FG.

These financial statements were authorised for issue by the director on 30 December 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 comprises the sale of development property and is recognised at the contractual date. Rental income is recognised on a straight-line basis over the lease term. The aggregate cost of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.

Government grants

Revenue grants are accounted for under the performance model. Revenue grants that do not impose specified future performance-related conditions are recognised when the grant proceeds are received or receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Mint Properties (N.I.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is provided in respect of all timing differences at the balance sheet. Timing differences are differences between the Company's taxable profit and its results stated in the financial statements that arise from inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax assets and liabilities are not discounted.

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
Equipment	25% per year straight line basis
Motor Vehicle	20% per year reducing balance basis

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

Property for development

Property for development is stated at the lower of cost and estimated selling price less costs to complete and sell. If circumstances indicate that the carrying value of development property is not fully recoverable, provision is immediately made for any impairment through the profit and loss account.

Mint Properties (N.I.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date, or if the likelihood of earlier settlement is remote.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2024 - 2).

4

Taxation

	2025 £	2024 £
Corporation tax charge	1,722	56,688
Deferred tax charge/(credit)	(2,619)	12,734
	(897)	69,422

 

Mint Properties (N.I.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Tangible assets

	Equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	11,286	55,824	67,110
Additions	646	-	646
At 31 March 2025	11,932	55,824	67,756
Depreciation
At 1 April 2024	7,798	8,374	16,172
Charge for the year	1,632	9,490	11,122
At 31 March 2025	9,430	17,864	27,294
Carrying amount
At 31 March 2025	2,502	37,960	40,462
At 31 March 2024	3,488	47,450	50,938

6	Investments

	2025 £	2024 £
Loans to associated companies	155	155
Investments in joint ventures	2	2
Investment in private equity partnership	172,822	172,066
	172,979	172,223

Mint Properties (N.I.) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

	2025 £	2024 £
Amounts due from associated company	319,906	464,160
Prepayments	2,037	2,459
Other debtors	402,578	3,423
	724,521	470,042

8	Creditors: due within one year

	2025  £	2024  £
Bank borrowings	4,778	4,649
Bank overdrafts	26	-
HP and finance lease liabilities	4,681	4,550
Accruals and deferred income	55,845	98,127
Other creditors	172,556	129,598
Other tax and social security	-	1,232
	237,886	238,156

9	Creditors: due after one year

	2025 £	2024 £
Bank borrowings	23,305	220,744
HP and finance lease contracts	32,665	37,346
	55,970	258,090

Bank loan of £Nil (2024: £192,678) was secured by way of a fixed charge over one of the Company's development properties and a floating charge over all property and undertaking of the Company.

10	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	1	1	1	1