Cityside Developments Ltd

Filleted Accounts

31 December 2025

Registered number

NI062165

Cityside Developments Ltd
Registered number:		NI062165
Balance Sheet
as at 31 December 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		25,544			24,206

Current assets
Stocks		1,047,794			1,022,291
Debtors	4	270,272			11,630
Cash at bank and in hand		444,655			2,678
		1,762,721			1,036,599

Creditors: amounts falling due within one year	5	(492,644)			(294,418)

Net current assets			1,270,077			742,181

Total assets less current liabilities			1,295,621			766,387

Creditors: amounts falling due after more than one year	6		(808,109)			(712,674)



Net assets			487,512			53,713

Capital and reserves
Called up share capital			100			100
Share premium			1,499,902			1,499,902
Profit and loss account			(1,012,490)			(1,446,289)

Shareholder's funds			487,512			53,713

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Robert Jebb
Director
Approved by the board on 17 August 2026

Cityside Developments Ltd
Notes to the Accounts
for the year ended 31 December 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added tax. Turnover comprises revenue from property development activities and rental income derived from investment and development properties pending redevelopment. Revenue from property development activities is recognised over time by reference to the stage of completion of the development contract, measured by comparing costs incurred to date with the total estimated contract costs, where the outcome of the contract can be measured reliably. Rental income is recognised on a straight-line basis over the term of the relevant lease.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and buildings			over 50 years
	Equipment and fittings			over 5 years
	Motor vehicles			over 4 years

	Development stock and work in progress
	Development stock and work in progress are stated at the lower of cost and estimated net realisable value. Cost comprises all expenditure directly attributable to the acquisition, development and construction of properties, including the purchase price of development land, stamp duty, professional fees, planning and design costs, site preparation, construction costs, infrastructure costs, borrowing costs where capitalisation criteria are met, and other directly attributable development expenditure. Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the costs necessary to make the sale.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Creditors are recognised initially at the transaction price, which is usually the invoice price, unless the arrangement constitutes a financing transaction. Short-term creditors are subsequently measured at the undiscounted amount of the cash or other consideration expected to be paid. Loans and other financial liabilities, including directors' loans and other borrowings due after more than one year, are initially recognised at transaction price net of any directly attributable transaction costs and are subsequently measured at amortised cost using the effective interest method. Creditors are classified as amounts falling due within one year or after more than one year according to the substance of the contractual arrangements at the reporting date.

	Taxation
	Current tax is recognised for the amount of income tax payable or recoverable in respect of the taxable profit or loss for the current and prior accounting periods using tax rates and laws that have been enacted or substantively enacted by the reporting date. Deferred tax is recognised in respect of all timing differences arising between the recognition of income and expenditure in the financial statements and their recognition for taxation purposes. Deferred tax assets are recognised in respect of unrelieved trading losses, capital losses and other deductible temporary differences only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.


2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					1		1


3	Tangible fixed assets
		Land and buildings		Equipment and fittings		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2025	-		-		32,275		32,275
	Additions	21,807		4,132		-		25,939
	Disposals	-		-		(32,275)		(32,275)
	At 31 December 2025	21,807		4,132		-		25,939

	Depreciation
	At 1 January 2025	-		-		8,069		8,069
	Charge for the year	109		286		-		395
	On disposals	-		-		(8,069)		(8,069)
	At 31 December 2025	109		286		-		395

	Net book value
	At 31 December 2025	21,698		3,846		-		25,544
	At 31 December 2024	-		-		24,206		24,206


4	Debtors					2025		2024
£							£

	Trade debtors					-		7,300
	Other debtors					270,272		4,330
						270,272		11,630


5	Creditors: amounts falling due within one year					2025		2024
£							£

	Taxation and social security costs					644		433
	Other creditors					492,000		293,985
						492,644		294,418


6	Creditors: amounts falling due after one year					2025		2024
£							£

	Other creditors					808,109		712,674


7	Loans					2025		2024
£							£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years					350,000		350,000


	Secured loans					179,212		228,432

	The Trustees of the Grosvenor Pension Scheme have a charge on all land comprised in folio 24533 Co Antrim. The charge contains negative pledge.


8	Related party transactions

	At 31 December 2025, the company owed the director £333,040 (2024: £183,462). The balance is unsecured, interest free and repayable after more than one year. At 31 December 2025, the company owed £280,432 (2024: £239,757) to a company under the common control of the sole director and shareholder. The balance is unsecured, interest free and repayable on demand.


9	Other information

	Cityside Developments Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
	46a Dungannon Enterprise Centre
	2 Coalisland Road
	Dungannon
	Co Tyrone
	BT71 6JT