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

BELFAST CATHEDRAL ENTERPRISES LIMITED - Company Information

2 14 March 2024 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 164,899 113,299 7,740 121,039 43,860 51,600 xbrli:pure xbrli:shares iso4217:GBP NI044805 2023-01-01 2023-12-31 NI044805 2023-12-31 NI044805 2022-12-31 NI044805 2022-01-01 2022-12-31 NI044805 2022-12-31 NI044805 2021-12-31 NI044805 core:FurnitureFittings 2023-01-01 2023-12-31 NI044805 bus:Director1 2023-01-01 2023-12-31 NI044805 bus:Director5 2023-01-01 2023-12-31 NI044805 core:FurnitureFittings 2022-12-31 NI044805 core:FurnitureFittings 2023-12-31 NI044805 core:WithinOneYear 2023-12-31 NI044805 core:WithinOneYear 2022-12-31 NI044805 core:ShareCapital 2023-12-31 NI044805 core:ShareCapital 2022-12-31 NI044805 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI044805 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI044805 core:FurnitureFittings 2022-12-31 NI044805 bus:SmallEntities 2023-01-01 2023-12-31 NI044805 bus:Audited 2023-01-01 2023-12-31 NI044805 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI044805 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI044805 bus:FullAccounts 2023-01-01 2023-12-31 NI044805 core:UltimateParent 2023-01-01 2023-12-31 NI044805 1 2023-01-01 2023-12-31

COMPANY REGISTRATION NUMBER: NI044805

Belfast Cathedral Enterprises Limited

Filleted Financial Statements

31 December 2023

Belfast Cathedral Enterprises Limited

Statement of Financial Position

31 December 2023

	2023		2022
Note	£	£	£

Fixed assets

Tangible assets	5		43,860	51,600

Current assets

Stocks		11,000	5,633
Debtors	6	65,796	76,408
Cash at bank and in hand		83,744	17,295
		---------	--------
		160,540	99,336

Creditors: amounts falling due within one year	7	203,846		150,382
		---------		---------
Net current liabilities			43,306	51,046
			--------	--------
Total assets less current liabilities			554	554
			----	----
Net assets			554	554
			----	----

Capital and reserves

Called up share capital	100	100
Profit and loss account	454	454
	----	----
Shareholder funds	554	554
	----	----

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 14 March 2024 , and are signed on behalf of the board by:

Mrs G.E. McGaughey	The Very Rev S. B. Forde
Director	Director

Company registration number: NI044805

Belfast Cathedral Enterprises Limited

Notes to the Financial Statements

Year ended 31 December 2023

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Belfast Cathedral Enterprises Limited , C/o Cathedral of St Anne Belfast, Donegall Street, Belfast, BT1 2HB.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

	Fixtures and fittings	-	15% reducing balance

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 are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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. 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).

5. Tangible assets

	Fixtures and fittings	Total
	£	£
Cost
At 1 January 2023 and 31 December 2023	164,899	164,899
	---------	---------
Depreciation
At 1 January 2023	113,299	113,299
Charge for the year	7,740	7,740
	---------	---------
At 31 December 2023	121,039	121,039
	---------	---------
Carrying amount
At 31 December 2023	43,860	43,860
	---------	---------
At 31 December 2022	51,600	51,600
	---------	---------

6. Debtors

	2023	2022
	£	£
Trade debtors	61,290	32,280
Other debtors	4,506	44,128
	--------	--------
	65,796	76,408
	--------	--------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	188	1,735
Amounts owed to group undertakings and undertakings in which the company has a participating interest	187,624	142,869
Social security and other taxes	11,983	569
Other creditors	4,051	5,209
	---------	---------
	203,846	150,382
	---------	---------

8. Summary audit opinion

The auditor's report dated 14 March 2024 was unqualified .

The senior statutory auditor was Mr John Beacom FCA , for and on behalf of Muir & Addy .

9. Related party transactions

With Board of the Cathedral of St. Anne, Belfast Relationship - Parent undertaking Nature of transactions during year:- Gift aid payment to related party in the current year of £312,015 (2022: £272,363) Amount owed to related party at 31 December 2023 of £187,624 (2022: £142,869) The car park and offices owned by the Board of the Cathedral of St. Anne, Belfast are operated by Belfast Cathedral Enterprises Limited for trading activities.

10. Controlling party

The company's issued share capital is wholly owned by the Board of the Cathedral of St. Anne, Belfast, a charitable company limited by guarantee. The address of the parent undertaking's registered office is Donegall Street, Belfast, BT1 2HB.