Relate AccountsProduction v2.6.3 v2.6.3 2022-02-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of farming. 8 November 2023 1 1 NI628553 2023-01-31 NI628553 2022-01-31 NI628553 2021-01-31 NI628553 2022-02-01 2023-01-31 NI628553 2021-02-01 2022-01-31 NI628553 uk-bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 NI628553 uk-bus:FullAccounts 2022-02-01 2023-01-31 NI628553 uk-bus:Director1 2022-02-01 2023-01-31 NI628553 uk-bus:RegisteredOffice 2022-02-01 2023-01-31 NI628553 uk-bus:Agent1 2022-02-01 2023-01-31 NI628553 uk-bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 NI628553 uk-core:ShareCapital 2023-01-31 NI628553 uk-core:ShareCapital 2022-01-31 NI628553 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI628553 uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI628553 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI628553 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-01-31 NI628553 uk-core:RestatedAmount uk-core:RetainedEarningsAccumulatedLosses 2022-01-31 NI628553 uk-core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 NI628553 uk-bus:FRS102 2022-02-01 2023-01-31 NI628553 uk-core:PlantMachinery 2022-02-01 2023-01-31 NI628553 uk-core:MotorVehicles 2022-02-01 2023-01-31 NI628553 uk-core:CostValuation 2023-01-31 NI628553 uk-core:CurrentFinancialInstruments 2023-01-31 NI628553 uk-core:CurrentFinancialInstruments 2022-01-31 NI628553 uk-core:WithinOneYear 2023-01-31 NI628553 uk-core:WithinOneYear 2022-01-31 NI628553 uk-core:WithinOneYear 2023-01-31 NI628553 uk-core:WithinOneYear 2022-01-31 NI628553 uk-core:AfterOneYear 2023-01-31 NI628553 uk-core:AfterOneYear 2022-01-31 NI628553 uk-core:AfterOneYear 2023-01-31 NI628553 uk-core:AfterOneYear 2022-01-31 NI628553 uk-core:BetweenOneTwoYears 2023-01-31 NI628553 uk-core:BetweenOneTwoYears 2022-01-31 NI628553 uk-core:BetweenTwoFiveYears 2023-01-31 NI628553 uk-core:BetweenTwoFiveYears 2022-01-31 NI628553 2022-02-01 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI628553
 
 
Gortfinbar Agri Limited
 
Director's Report and Unaudited Financial Statements
 
for the financial year ended 31 January 2023
Gortfinbar Agri Limited
DIRECTOR AND OTHER INFORMATION

 
Director Patrick Donaghy
 
 
Company Registration Number NI628553
 
 
Registered Office and Business Address 229 Whitebridge Road
Carrickmore
Co. Tyrone
BT79 9BD
United Kingdom
 
 
Accountants K Magill and Company
Chartered Accountants
2 Church Street
Ballygawley
Dungannon
Co. Tyrone
BT70 2HB
Northern Ireland
 
 
Bankers Bank of Ireland
  Campsie
  Omagh
  Tyrone
  BT79 0AE
  Northern Ireland



Gortfinbar Agri Limited
DIRECTOR'S REPORT
for the financial year ended 31 January 2023

 
The director presents their report and the unaudited financial statements for the financial year ended 31 January 2023.
 
Principal Activity
The principal activity of the company is that of farming.
     
Director
The director who served during the financial year is as follows:
     
Patrick Donaghy
   
There were no changes in shareholdings between 31 January 2023 and the date of signing the financial statements.
     
Political Contributions
The company did not make any disclosable political donations in the current financial year.
     
Statement of Director's Responsibilities
     
The director is responsible for preparing the Director's Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the director must not approve the financial statements unless they is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the director is required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Patrick Donaghy
Director
     
8 November 2023



Gortfinbar Agri Limited

CHARTERED ACCOUNTANTS' REPORT
to the Director on the unaudited financial statements of Gortfinbar Agri Limited for the financial year ended 31 January 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the company for the financial year ended 31 January 2023 which comprise the Profit and Loss Account, the Balance Sheet, the Reconciliation of Shareholders' Funds and notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of Gortfinbar Agri Limited, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gortfinbar Agri Limited and state those matters that we have agreed to state to the director of Gortfinbar Agri Limited, in this report in accordance with the guidance of Chartered Accountants Ireland. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gortfinbar Agri Limited and its director 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 ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
It is your duty to ensure that Gortfinbar Agri Limited 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 loss of Gortfinbar Agri Limited. You consider that Gortfinbar Agri Limited 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 Gortfinbar Agri Limited. For this reason, we have not verified the 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.
 
 
__________________________________
K MAGILL AND COMPANY
Chartered Accountants
2 Church Street
Ballygawley
Dungannon
Co. Tyrone
BT70 2HB
Northern Ireland
 
8 November 2023



Gortfinbar Agri Limited
PROFIT AND LOSS ACCOUNT
for the financial year ended 31 January 2023
2023 2022
Notes £ £

Turnover 37,700 16,082
 
Cost of sales (27,398) (16,540)
───────── ─────────
Gross profit/(loss) 10,302 (458)
 
Administrative expenses (14,774) (9,922)
───────── ─────────
Operating loss (4,472) (10,380)
 
Interest payable and similar expenses (1,025) (601)
───────── ─────────
Loss before taxation (5,497) (10,981)
 
Tax on loss - -
───────── ─────────
Loss for the financial year (5,497) (10,981)
───────── ─────────
Total comprehensive income (5,497) (10,981)
    ═════════   ═════════



Gortfinbar Agri Limited
Company Registration Number: NI628553
BALANCE SHEET
as at 31 January 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 36,392 45,490
Investments 5 22,320 22,320
───────── ─────────
58,712 67,810
───────── ─────────
 
Current Assets
Debtors 6 23,500 13,102
Cash and cash equivalents 9,620 17,729
───────── ─────────
33,120 30,831
───────── ─────────
Creditors: amounts falling due within one year 7 (13,592) (51,718)
───────── ─────────
Net Current Assets/(Liabilities) 19,528 (20,887)
───────── ─────────
Total Assets less Current Liabilities 78,240 46,923
 
Creditors:
amounts falling due after more than one year 8 (36,814) -
───────── ─────────
Net Assets 41,426 46,923
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 41,326 46,823
───────── ─────────
Shareholders' Funds 41,426 46,923
═════════ ═════════
 
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).
           
For the financial year ended 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges 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 Director and authorised for issue on 8 November 2023
           
           
________________________________          
Patrick Donaghy          
Director          
           



Gortfinbar Agri Limited
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 31 January 2023

Called up Retained Total
share earnings
capital
£ £ £
 
At 1 February 2021 - 59,804 59,804
───────── ───────── ─────────
Loss for the financial year - (10,981) (10,981)
───────── ───────── ─────────
Payment of dividends - (2,000) (2,000)
  ───────── ───────── ─────────
At 31 January 2022 100 46,823 46,923
  ───────── ───────── ─────────
Loss for the financial year - (5,497) (5,497)
  ───────── ───────── ─────────
At 31 January 2023 100 41,326 41,426
  ═════════ ═════════ ═════════



Gortfinbar Agri Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 January 2023

   
1. General Information
 
Gortfinbar Agri Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI628553. The registered office of the company is 229 Whitebridge Road, Carrickmore, Co. Tyrone, BT79 9BD, United Kingdom which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. 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 financial year ended 31 January 2023 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 on the going concern basis and 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.
 
Tangible assets and depreciation
Tangible assets 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 tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing balance
  Motor vehicles - 20% Reducing balance
 
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.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the financial year in which it is receivable.
 
Trade and other debtors
Trade and other debtors 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 creditors
Trade and other creditors 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
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 Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2022 - 1).
 
  2023 2022
  Number Number
 
Employees 1 1
  ═════════ ═════════
         
4. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 February 2022 89,250 10,000 99,250
  ───────── ───────── ─────────
 
At 31 January 2023 89,250 10,000 99,250
  ───────── ───────── ─────────
Depreciation
At 1 February 2022 53,760 - 53,760
Charge for the financial year 7,098 2,000 9,098
  ───────── ───────── ─────────
At 31 January 2023 60,858 2,000 62,858
  ───────── ───────── ─────────
Net book value
At 31 January 2023 28,392 8,000 36,392
  ═════════ ═════════ ═════════
At 31 January 2022 35,490 10,000 45,490
  ═════════ ═════════ ═════════
       
5. Investments
  Other Total
  investments  
     
Investments £ £
Cost
 
At 31 January 2023 22,320 22,320
  ───────── ─────────
Net book value
At 31 January 2023 22,320 22,320
  ═════════ ═════════
At 31 January 2022 22,320 22,320
  ═════════ ═════════
       
6. Debtors 2023 2022
  £ £
 
Trade debtors 23,500 1,800
Director's current account (Note ) - 11,302
  ───────── ─────────
  23,500 13,102
  ═════════ ═════════
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 10,644 44,358
Taxation  (Note 9) 2,148 6,499
Accruals 800 861
  ───────── ─────────
  13,592 51,718
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 24,095 -
Director's loan accounts 12,719 -
  ───────── ─────────
  36,814 -
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 10,644 44,358
Repayable between one and two years 10,644 -
Repayable between two and five years 13,451 -
  ───────── ─────────
  34,739 44,358
  ═════════ ═════════
 
       
9. Taxation 2023 2022
  £ £
 
Creditors:
VAT 2,101 6,452
Corporation tax 47 47
  ───────── ─────────
  2,148 6,499
  ═════════ ═════════
       
10. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 January 2023.
   
11. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.



Gortfinbar Agri Limited
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
TRADING STATEMENT
for the financial year ended 31 January 2023
2023 2022
£ £

Sales 37,700 16,082
───────── ─────────
       
Cost of sales
Purchases 8,005 -
Repairs to plant and machinery 19,393 16,540
  ─────────   ─────────
  27,398   16,540
  ─────────   ─────────
       
Gross profit/(loss) 10,302   (458)
  ─────────   ─────────
Gross profit/(loss) Percentage 27.3%   (2.8)%
  ─────────   ─────────
       
Administrative expenses
Wages and salaries 250   -
Motor expenses 4,267 -
Accountancy 692 878
Bank charges 467 172
Depreciation of tangible assets 9,098   8,872
  ─────────   ─────────
  14,774   9,922
  ─────────   ─────────
       
Finance
Bank interest paid 1,025 601
  ─────────   ─────────
       
Net loss (5,497)   (10,981)
  ═════════   ═════════