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Registered number |
NI648942 |
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Registered number: |
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Balance Sheet | |||||||
as at |
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Notes | 2020 | 2019 | |||||
£ | £ | ||||||
Current assets | |||||||
Debtors | 3 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 4 | ( |
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Net current assets |
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Net assets |
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Capital and reserves | |||||||
Called up share capital |
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Capital and reserves |
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MS Grimes | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
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Turnover | ||||||||
Revenue earned from rents and service charges is recognised on property for which the company is the leaseholder. Revenue earned from the rendering of services is recognised by reference to the stage of completion of the contract in accordance with the relevant funding agreement. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Expenditure | ||||||||
All expenditure has been accounted for on an accruals basis. | ||||||||
Debtors | ||||||||
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Creditors | ||||||||
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Leased assets | ||||||||
The subject plots and associated leases were assigned to the Company on 31 Oct-17 by way of transfer from Ormeau Gasworks Limited (in administration). BCC remain as superior landlord of the subject plots and following the assignment, the Company became a tenant of BCC and landlord to the various sub-tenants. The associated leases for said plots between BCC and the Company run for 125 years and are subject to an equity rent payable to BCC as well as a service charge. Under the terms of the lease structure the Company is obligated to pay all rents and service charges recived from sub-tenants to BCC. Rental lease collections and payments are classified as operating leases and are recognised as income and expenditure on a straight line basis for the term of the lease. |
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2 | Employees | 2020 | 2019 | |||||
Number | Number | |||||||
Average number of persons employed by the company |
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3 | Debtors | 2020 | 2019 | |||||
£ | £ | |||||||
Trade debtors |
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Other debtors |
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4 | Creditors: amounts falling due within one year | 2020 | 2019 | |||||
£ | £ | |||||||
Trade creditors |
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Other creditors |
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5 | Other financial commitments | 2020 | 2019 | |||||
£ | £ | |||||||
Total future minimum payments under non-cancellable operating leases |
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The above commitments relate to rental payments (excluding service charges) due to Belfast City Council, as superior landlord, to the next rental review date. These commitments will be offset by rental collections from sub-tenants. | ||||||||
6 | Other information | |||||||
Belfast Gasworks Management Co. Ltd is a private limited company and incorporated in Northern Ireland. It's registered office is: | ||||||||
Tony Elliott, City Hall | ||||||||
Donegall Square | ||||||||
Belfast | ||||||||
Co Antrim | ||||||||
BT1 5GS |