REGISTERED NUMBER: NI627068 (Northern Ireland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

FOR

POSITIVE PROPERTIES (NI) LTD

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTOR:

J Magill

SECRETARY:

S Magill

REGISTERED OFFICE:

17 Clarendon Road

Belfast

BT1 3BG

REGISTERED NUMBER:

NI627068 (Northern Ireland)

ACCOUNTANTS:

Baker Tilly Mooney Moore

17 Clarendon Road

Belfast

BT1 3BG

FIXED ASSETS

Investment property

4

528,984

528,984

CURRENT ASSETS

Debtors

5

169,347

160,937

Cash at bank and in hand

4,073

100,204

173,420

261,141

CREDITORS

Amounts falling due within one year

6

240,507

377,113

NET CURRENT LIABILITIES

(67,087

)

(115,972

)

TOTAL ASSETS LESS CURRENT LIABILITIES

461,897

413,012

CREDITORS

Amounts falling due after more than one year

7

128,769

138,132

NET ASSETS

333,128

274,880

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

333,028

274,780

SHAREHOLDERS' FUNDS

333,128

274,880

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 29 May 2026 and were signed by:

J Magill - Director

1.	STATUTORY INFORMATION

Positive 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.

Significant judgements and estimates

In preparing these financial statements the director has made the following judgements:

- Establish whether there are indicators of impairment of the company's investment property. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

- Estimates are made in respect of the recoverable value of trade debtors. When assessing the level of provision required, factors including current trading experience, historical experience and the ageing profile of debtors are considered.

Turnover

Turnover represents monies received from rental properties and fees from property management.

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.

Investment property

Investment properties are valued at fair value as determined by the director or external valuers, based on rental yield taking into consideration nature, location and condition of the assets.

No depreciation is provided on investment property. Changes in fair value will be recognised in the profit and loss account.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 June 2024

and 31 May 2025

528,984

NET BOOK VALUE

At 31 May 2025

528,984

At 31 May 2024

528,984

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Trade debtors

39,086

26,930

Other debtors

130,261

134,007

169,347

160,937

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans and overdrafts

9,978

10,638

Taxation and social security

18,630

23,706

Other creditors

211,899

342,769

240,507

377,113

Included in Other creditors is an amount of £181,052 (2024: £181,724) due to the director. This loan is unsecured, interest free and repayable on demand.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.25

31.5.24

£

£

Bank loans

128,769

138,132

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

128,769

128,769

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.25

31.5.24

£

£

Bank Loan

-

128,769

Atom Bank PLC has a floating charge over all the property or undertaking of the company.