BT2 Property Ltd iXBRL

Company Registration Number: NI644140

BT2 Property Ltd

Unaudited Financial Statements

for the financial year ended 31 January 2026

BT2 Property Ltd

DIRECTORS AND OTHER INFORMATION


Directors	Mr Anthony Donnelly
	Mrs Catherine Donnelly


Company Registration Number	NI644140


Registered Office and Business Address	263 Falls Road
	Belfast
	Antrim
	BT12 6FB
	United Kingdom


Accountants	Quarter
	Chartered Accountants
	St Anne's House
	15 Church Street
	Cathedral Quarter
	Belfast
	BT1 1PG


Bankers	Danske Bank
	Donegall Square West
	Belfast
	Co Antrim
	BT1 6JS
	Belfast

BT2 Property Ltd

CHARTERED ACCOUNTANTS REPORT

to the Board of Directors on the Compilation of the unaudited financial statements of BT2 Property Ltd

for the financial year ended 31 January 2026

In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 January 2026 as set out on pages to which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.

This report is made solely to the Board of Directors of BT2 Property Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position for the year ended 31 January 2026 your duty to ensure that BT2 Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of BT2 Property Ltd. You consider that BT2 Property Ltd is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of BT2 Property Ltd. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

QUARTER

Chartered Accountants

St Anne's House

15 Church Street

Cathedral Quarter

Belfast

BT1 1PG

21 October 2026

BT2 Property Ltd

Company Registration Number: NI644140

STATEMENT OF FINANCIAL POSITION

as at 31 January 2026

		2026	2025
	Notes	£	£

Non-Current Assets

Property, plant and equipment

458,846

439,395

─────────

Current Assets

Receivables

69,249

170,092

Cash and cash equivalents

1,978

38,997

─────────

71,227

209,089

─────────

Payables: amounts falling due within one year

(199,411)

(316,749)

─────────

Net Current Liabilities

(128,184)

(107,660)

─────────

Total Assets less Current Liabilities

330,662

331,735

Payables:

amounts falling due after more than one year

(278,273)

(292,149)

─────────

Net Assets

52,389

39,586

═════════

Equity

Called up share capital

Retained earnings

52,388

39,585

─────────

Equity attributable to owners of the company

52,389

39,586

═════════

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 21 October 2026 and signed on its behalf by



Mr Anthony Donnelly
Director

BT2 Property Ltd

NOTES TO THE FINANCIAL STATEMENTS

for the financial year ended 31 January 2026

General Information

BT2 Property Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 263 Falls Road, Belfast, Antrim, BT12 6FB, United Kingdom and the principal place of business of the company is 263 Falls Road Belfast BT12 6FB. The financial statements have been presented in Pound (£) which is also the functional currency of the company.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the year ended 31 January 2026 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006

Basis of preparation

The financial statements have been prepared in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Fixtures, fittings and equipment

15% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Investment properties

Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business.

Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.

Trade and other receivables

Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Borrowing costs

Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Trade and other payables

Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation and deferred taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised as a liability when approved by the shareholders at an Annual General Meeting.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

Ordinary share capital

The ordinary share capital of the company is presented as equity.

Employees

The average monthly number of employees, including directors, during the financial year was 2, (2025 - 1).

2026

2025

Number

Number

Director

═════════


4.	Property, plant and equipment
		Investment	Fixtures,	Total
		properties	fittings and
			equipment
		£	£	£
	Cost
	At 1 February 2025	439,395	-	439,395
	Additions	451	19,000	19,451
		─────────	─────────	─────────
	At 31 January 2026	439,846	19,000	458,846
		─────────	─────────	─────────
	Depreciation
	At 1 February 2025	-	-	-
		─────────	─────────	─────────
	At 31 January 2026	-	-	-
		─────────	─────────	─────────
	Carrying amount
	At 31 January 2026	439,846	19,000	458,846
		═════════	═════════	═════════
	At 31 January 2025	439,395	-	439,395
		═════════	═════════	═════════


5.	Receivables	2026	2025
		£	£

	Trade receivables	-	9,527
	Amounts owed by connected parties (Note 10)	69,249	112,600
	Other debtors	-	47,965
		─────────	─────────
		69,249	170,092
		═════════	═════════


6.	Payables	2026	2025
	Amounts falling due within one year	£	£

	Bank loan	13,837	12,823
	Trade payables	-	8,847
	Amounts owed to connected parties (Note 10)	40,293	134,300
	Taxation (Note 8)	9,885	8,239
	Directors' current accounts	132,006	151,400
	Other creditors	2,250	-
	Accruals	1,140	1,140
		─────────	─────────
		199,411	316,749
		═════════	═════════


7.	Payables	2026	2025
	Amounts falling due after more than one year	£	£

	Bank loan	278,273	292,149
		═════════	═════════

	Loans
	Repayable in one year or less, or on demand (Note 6)	13,837	12,823
	Repayable between one and two years	14,907	13,804
	Repayable between two and five years	49,983	48,191
	Repayable in five years or more	213,383	230,154
		─────────	─────────
		292,110	304,972
		═════════	═════════


8.	Taxation	2026	2025
		£	£

	Payables:
	Corporation tax	9,885	8,239
		═════════	═════════

Capital commitments

The company had no material capital commitments at the financial year-ended 31 January 2026.

10.

Related party transactions

Balance

Movement

Balance

Maximum

2026

in year

2025

in year

Kashmir Belfast Limited

(100,000)

100,000

100,000

Clondara Property Limited

(12,600)

12,600

12,600

Clondara Group Limited

69,249

─────────

═════════

69,249

(43,351)

112,600

═════════

The following amounts are due to other connected parties:

2026

2025

Northernpropertyni.com Limited

40,293

127,300

Northern Property City Centre Limited

7,000

─────────

40,293

134,300

═════════

Net balances with other connected parties:

2026

2025

Northernpropertyni.com Limited

(40,293)

(127,300)

Kashmir Belfast Limited

100,000

Clondara Property Limited

12,600

Northern Property City Centre Limited

(7,000)

Clondara Group Limited

69,249

─────────

28,956

(21,700)

═════════

During the year ended 31 January 2026 Anthony was a director of Northernpropertyni.com Limited. As at 1 February 2025, the balance owed to Northernpropertyni.com Limited was £127,300. During the financial year, net transactions between the companies amounted to £87,007. As at 31 January 2026, the balance owed to Northernpropertyni.com Limited was £40,293.

During the year ended 31 January 2026 Anthony was a director of Kashmir Belfast Limited. As at 1 February 2025, the balance owed by Kashmir Belfast Limited was £100,000. During the financial year, net transactions between the companies amounted to £100,000. As at 31 January 2026, the balance owed by Kashmir Belfast Limited was £Nil.

During the year ended 31 January 2026 Catherine was a director of Clondara Property Limited. As at 1 February 2025, the balance owed by Clondara Property Limited was £12,600. During the financial year, net transactions between the companies amounted to £12,600. As at 31 January 2026, the balance owed by Clondara Property Limited was £Nil.

During the year ended 31 January 2026 Catherine was a director of Northern Property City Centre Limited. As at 1 February 2025, the balance owed to Northern Property City Centre Limited was £7,000. During the financial year, net transactions between the companies amounted to £7,000. As at 31 January 2026, the balance owed to Northern Property City Centre Limited was £Nil.

During the year ended 31 January 2026 Anthony was a director of Clondara Group Limited. As at 1 February 2025, the balance owed by Clondara Group Limited was £Nil. During the financial year, net transactions between the companies amounted to £69,249. As at 31 January 2026, the balance owed by Clondara Group Limited was £69,249

11.

Events After the End of the Reporting Period

There have been no significant events affecting the company since the financial year-end.