Registration number: NI670114

Belfast Tully Property Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Belfast Tully Property Limited

Company Information

Director

Ms Eleanor Anne Tully

Registered office

30 Royal Mews Dunmurry Belfast Northern Ireland BT17 9NJ

Accountants

McKeague Morgan & Company 27 College Gardens Belfast BT9 6BS

Belfast Tully Property Limited

(Registration number: NI670114)
Balance Sheet as at 30 June 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	26,085	-
Investment property	5	1,240,060	1,222,205
		1,266,145	1,222,205
Current assets
Debtors		319,134	-
Cash at bank and in hand		436,685	114,620
		755,819	114,620
Creditors: Amounts falling due within one year	6	(1,118,708)	(804,050)
Net current liabilities		(362,889)	(689,430)
Net assets		903,256	532,775
Capital and reserves
Called up share capital		100	100
Profit and loss account		903,156	532,675
Total equity		903,256	532,775

For the financial year ending 30 June 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the director on 23 September 2026
 

.........................................

Ms Eleanor Anne Tully
Director

Belfast Tully Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
30 Royal Mews
Dunmurry
Belfast
Northern Ireland
BT17 9NJ

These financial statements were authorised for issue by the director on 23 September 2026.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 in the countries where the company operates and generates taxable income.

Belfast Tully Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

2	Accounting policies (continued)

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
Investment property	0% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Belfast Tully Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

2	Accounting policies (continued)

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2025 - 3).

Belfast Tully Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

4	Tangible assets

	Motor vehicles  £	Total £
Cost or valuation
Additions	34,780	34,780
At 30 June 2026	34,780	34,780
Depreciation
Charge for the year	8,695	8,695
At 30 June 2026	8,695	8,695
Carrying amount
At 30 June 2026	26,085	26,085

5	Investment properties

	2026 £
At 1 July	1,222,205
Additions	17,855
At 30 June	1,240,060

There has been no valuation of investment property by an independent valuer.

6

Creditors

	Note	2026 £	2025 £
Due within one year
Corporation tax liability		114,957	58,313
Taxation and social security		14	-
Other creditors		773,326	373,326
Loans from directors		228,491	370,491
Accruals and deferred income		1,920	1,920
		1,118,708	804,050

Belfast Tully Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2026

7	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100