G & R Stock Limited NI023036 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is residential and commercial property rental. Digita Accounts Production Advanced 6.30.9574.0 true true NI023036 2022-02-01 2023-01-31 NI023036 2023-01-31 NI023036 bus:OrdinaryShareClass1 2023-01-31 NI023036 core:CurrentFinancialInstruments 2023-01-31 NI023036 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 NI023036 core:Non-currentFinancialInstruments 2023-01-31 NI023036 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 NI023036 core:FurnitureFittingsToolsEquipment 2023-01-31 NI023036 1 2023-01-31 NI023036 bus:SmallEntities 2022-02-01 2023-01-31 NI023036 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 NI023036 bus:FullAccounts 2022-02-01 2023-01-31 NI023036 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 NI023036 bus:RegisteredOffice 2022-02-01 2023-01-31 NI023036 bus:CompanySecretaryDirector1 2022-02-01 2023-01-31 NI023036 bus:Director2 2022-02-01 2023-01-31 NI023036 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 NI023036 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI023036 core:FurnitureFittings 2022-02-01 2023-01-31 NI023036 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 NI023036 1 2022-02-01 2023-01-31 NI023036 countries:NorthernIreland 2022-02-01 2023-01-31 NI023036 2022-01-31 NI023036 core:FurnitureFittingsToolsEquipment 2022-01-31 NI023036 2021-02-01 2022-01-31 NI023036 2022-01-31 NI023036 bus:OrdinaryShareClass1 2022-01-31 NI023036 core:CurrentFinancialInstruments 2022-01-31 NI023036 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 NI023036 core:Non-currentFinancialInstruments 2022-01-31 NI023036 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 NI023036 core:FurnitureFittingsToolsEquipment 2022-01-31 NI023036 1 2022-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI023036

G & R Stock Limited

Unaudited Financial Statements

for the Year Ended 31 January 2023

 

G & R Stock Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

G & R Stock Limited

(Registration number: NI023036)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,730

3,186

Investment property

5

790,000

715,000

 

794,730

718,186

Current assets

 

Debtors

6

122

2,230

Cash at bank and in hand

 

1,918

-

 

2,040

2,230

Creditors: Amounts falling due within one year

7

(239,029)

(181,634)

Net current liabilities

 

(236,989)

(179,404)

Total assets less current liabilities

 

557,741

538,782

Creditors: Amounts falling due after more than one year

7

(109,289)

(120,719)

Net assets

 

448,452

418,063

Capital and reserves

 

Called up share capital

8

50

50

Retained earnings

448,402

418,013

Shareholders' funds

 

448,452

418,063

 

G & R Stock Limited

(Registration number: NI023036)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 2023 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2023 and signed on its behalf by:
 

.........................................
Mr George Glover
Company secretary and director

.........................................
Mrs Rhonda Glover
Director

 

G & R Stock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
2 Loy Street
Cookstown
Co. Tyrone
BT80 8PE

These financial statements were authorised for issue by the Board on 17 October 2023.

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 rental of property 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.

 

G & R Stock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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

Fixtures and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors 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.

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.

 

G & R Stock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2022

13,732

13,732

Additions

3,120

3,120

At 31 January 2023

16,852

16,852

Depreciation

At 1 February 2022

10,546

10,546

Charge for the year

1,576

1,576

At 31 January 2023

12,122

12,122

Carrying amount

At 31 January 2023

4,730

4,730

At 31 January 2022

3,186

3,186

5

Investment properties

2023
£

At 1 February

715,000

Additions

75,000

At 31 January

790,000

The investment properties were valued on 31 January 2023 by the directors who are internal to the company. The basis of this valuation was fair value. This class of assets has a current value of £790,000 (2022 - £715,000) and a carrying amount at historical cost of £1,088,099 (2022 - £1,013,099).

 

G & R Stock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

122

1,405

Other debtors

-

825

 

122

2,230

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

9

18,000

16,841

Trade creditors

 

5,613

3,250

Accruals and deferred income

 

3,479

4,622

Other creditors

 

211,937

156,921

 

239,029

181,634

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

109,289

120,719

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

50

50

50

50

         
 

G & R Stock Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2023

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

109,289

120,719

2023
£

2022
£

Current loans and borrowings

Bank borrowings

18,000

15,122

Bank overdrafts

-

1,719

18,000

16,841

Bank borrowings

The carrying amount of bank loans and overdrafts at year end is £127,289 (2022 - £137,560).

The bank loan and overdraft is secured by a legal charge over company properties.

10

Related party transactions

Other transactions with directors

During the year the directors advanced £51,750 to the company. At the balance sheet date the amount owed to the directors was £196,525 (2022 - £144,775). The advances are unsecured, interest free and repayable on demand.