LDM Belfast Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: NI032803

LDM Belfast Limited

Filleted Unaudited Financial Statements

31 December 2025

LDM Belfast Limited

Statement of Financial Position

31 December 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	72,753	31,382

Current assets

Debtors	6	2,475,648	3,190,777
Cash at bank and in hand		564,355	206,940
		------------	------------
		3,040,003	3,397,717

Creditors: amounts falling due within one year	7	1,440,461	1,331,874
		------------	------------
Net current assets		1,599,542	2,065,843
		------------	------------
Total assets less current liabilities		1,672,295	2,097,225

Creditors: amounts falling due after more than one year	8	–	10,636
		------------	------------
Net assets		1,672,295	2,086,589
		------------	------------

Capital and reserves

Called up share capital	95,000	95,000
Profit and loss account	1,577,295	1,991,589
	------------	------------
Shareholders funds	1,672,295	2,086,589
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

LDM Belfast Limited

Statement of Financial Position (continued)

31 December 2025

These financial statements were approved by the board of directors and authorised for issue on 8 September 2026 , and are signed on behalf of the board by:

Mr B Lavery

Director

Company registration number: NI032803

LDM Belfast Limited

Notes to the Financial Statements

Year ended 31 December 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is The Linenhall, 32-38 Linenhall Street, Belfast, Co. Antrim, BT2 8BG, Northern Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	10% straight line
Fixtures and fittings	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 34 (2024: 34 ).

5. Tangible assets

	Freehold property	Fixtures and fittings	Total
	£	£	£
Cost
At 1 January 2025	402,849	137,610	540,459
Additions	–	85,521	85,521
	---------	---------	---------
At 31 December 2025	402,849	223,131	625,980
	---------	---------	---------
Depreciation
At 1 January 2025	375,070	134,007	509,077
Charge for the year	27,779	16,371	44,150
	---------	---------	---------
At 31 December 2025	402,849	150,378	553,227
	---------	---------	---------
Carrying amount
At 31 December 2025	–	72,753	72,753
	---------	---------	---------
At 31 December 2024	27,779	3,603	31,382
	---------	---------	---------

6. Debtors

	2025	2024
	£	£
Trade debtors	1,006,835	1,198,831
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,315,941	1,315,941
Other debtors	152,872	676,005
	------------	------------
	2,475,648	3,190,777
	------------	------------

Amounts owed by group undertakings are interest free and repayable on demand.

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	11,331	10,921
Trade creditors	139,519	102,474
Amounts owed to group undertakings and undertakings in which the company has a participating interest	193,550	131,220
Corporation tax	108,662	164,376
Social security and other taxes	264,359	201,345
Other creditors	723,040	721,538
	------------	------------
	1,440,461	1,331,874
	------------	------------

At 31 December 2025, LDM Belfast Limited held client bank accounts with balances amounting to £3,789,692. These amounts are due to clients and are therefore matched by an equivalent amount of liabilities, neither of which are reflected in these financial statements, as they are not assets controlled by the company.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	–	10,636
	----	--------

The bank loan relates to a loan received under the Coronavirus Business Interruption Loan (CBIL) Scheme. As per the terms of this Scheme the UK Government covers the interest due on the loan for the first twelve months and provides the lender with a government-backed, partial guarantee of eighty percent against the outstanding facility balance. The company remains liable for the full amount of the debt owed on CBIL loans. There is a fixed and floating charge over the assets of the company.

9. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	192,834	82,755
Later than 1 year and not later than 5 years	559,153	125,812
Later than 5 years	531,667	–
	------------	---------
	1,283,654	208,567
	------------	---------

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R Ditty	168,971	( 168,971)	–
Mr B Lavery	175,237	( 175,237)	–
Mr G Mc Cann	172,721	( 172,721)	–
	---------	---------	----
	516,929	( 516,929)	–
	---------	---------	----

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mr R Ditty	22,723	146,248	168,971
Mr B Lavery	25,233	150,004	175,237
Mr G Mc Cann	18,973	153,748	172,721
	--------	---------	---------
	66,929	450,000	516,929
	--------	---------	---------

11. Related party transactions

The company has taken advantage of the exemption from disclosing related party transactions with group companies, in accordance with Financial Reporting Standard No 102 Section 1A Appendix C, Related Party Disclosures.

12. Controlling party

The immediate parent company is LDM Advisory Limited, a company incorporated in Northern Ireland with a registered office at 7th Floor, The Linenhall, 32-38 Linenhall Street, Belfast, BT2 8BG.