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31/03/2023
2023-03-31
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No description of principal activities is disclosed
2022-04-01
Sage Accounts Production 23.1 - FRS102_2021
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NI634819
2022-04-01
2023-03-31
NI634819
2023-03-31
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NI634819
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NI634819
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NI634819
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NI634819
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2023-03-31
NI634819
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2023-03-31
NI634819
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2023-03-31
NI634819
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2022-03-31
NI634819
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2022-04-01
2023-03-31
NI634819
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2021-04-01
2022-03-31
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NI634819
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2023-03-31
Company registration number:
NI634819
GLA Surveyors Limited
Trading as
GLA Surveyors Limited
Unaudited filleted financial statements for the year to
31 March 2023
GLA Surveyors Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
GLA Surveyors Limited
Directors and other information
|
|
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|
Directors |
Mr George Long |
|
|
Miss Fiona Long |
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Secretary |
Conal Long |
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Company number |
NI634819 |
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Registered office |
28 Clarendon Street |
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Londonderry |
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BT48 7ET |
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Business address |
13 Portlock Place |
|
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Culmore Road |
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Derry |
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BT48 8PR |
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Accountants |
McDaid, McCullough, Moore |
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28 - 32 Clarendon Street |
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Derry |
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BT48 7ET |
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Bankers |
Bank of Ireland |
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27 Culmore Road |
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Derry |
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BT48 8JB |
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|
GLA Surveyors Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of GLA Surveyors Limited
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of GLA Surveyors Limited for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the board of directors of GLA Surveyors Limited, as a body, in accordance with instructions received. Our work has been undertaken solely to prepare for your approval the financial statements of GLA Surveyors Limited and state those matters that we have agreed to state to the board of directors of GLA Surveyors Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than GLA Surveyors Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that GLA Surveyors 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 profit of GLA Surveyors Limited. You consider that GLA Surveyors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of GLA Surveyors 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.
McDaid, McCullough, Moore
Chartered Accountants
28 - 32 Clarendon Street
Derry
BT48 7ET
30 January 2024
GLA Surveyors Limited
Statement of financial position
31 March 2023
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5 |
- |
|
|
|
- |
|
|
Tangible assets |
|
6 |
1,104,500 |
|
|
|
8,167 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
1,104,500 |
|
|
|
8,167 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
961,977 |
|
|
|
887,451 |
|
|
Cash at bank and in hand |
|
|
773,104 |
|
|
|
1,791,230 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
1,735,081 |
|
|
|
2,678,681 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
533,590) |
|
|
|
(
709,976) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current assets |
|
|
|
|
1,201,491 |
|
|
|
1,968,705 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
2,305,991 |
|
|
|
1,976,872 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
2,305,991 |
|
|
|
1,976,872 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
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|
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|
|
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Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
9 |
|
|
100 |
|
|
|
100 |
Profit and loss account |
|
|
|
|
2,305,891 |
|
|
|
1,976,772 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
2,305,991 |
|
|
|
1,976,872 |
|
|
|
|
|
_______ |
|
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|
_______ |
|
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|
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
30 January 2024
, and are signed on behalf of the board by:
Mr George Long
Director
Company registration number:
NI634819
GLA Surveyors Limited
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is 28 Clarendon Street, Londonderry, BT48 7ET.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
|
|
|
Combined other intangible assets |
- |
20 % |
straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and are 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:
|
|
|
|
|
|
Freehold property |
- |
2 % |
straight line |
|
Plant and machinery |
- |
10 % |
straight line |
|
Fittings fixtures and equipment |
- |
20 % |
straight line |
|
|
|
|
|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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.Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.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.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.
Tax on profit
Major components of tax expense
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Current tax: |
|
|
|
|
Corporation tax expense |
|
126,121 |
84,997 |
|
|
|
_______ |
_______ |
|
Tax on profit |
|
126,121 |
84,997 |
|
|
|
_______ |
_______ |
|
|
|
|
|
5.
Intangible assets
|
|
Development costs |
Total |
|
|
|
|
|
|
£ |
£ |
|
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
1,040 |
1,040 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Amortisation |
|
|
|
|
|
|
|
At 1 April 2022 and 31 March 2023 |
1,040 |
1,040 |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31 March 2023 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
At 31 March 2022 |
- |
- |
|
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
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|
6.
Tangible assets
|
|
Freehold property |
Plant and machinery |
Fixtures, fittings and equipment |
Investments |
Total |
|
|
|
|
£ |
£ |
£ |
£ |
£ |
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1 April 2022 |
- |
10,000 |
6,599 |
- |
16,599 |
|
|
|
Additions |
174,800 |
4,650 |
12,252 |
913,188 |
1,104,890 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
174,800 |
14,650 |
18,851 |
913,188 |
1,121,489 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 April 2022 |
- |
6,417 |
2,015 |
- |
8,432 |
|
|
|
Charge for the year |
3,496 |
1,465 |
3,596 |
- |
8,557 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2023 |
3,496 |
7,882 |
5,611 |
- |
16,989 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31 March 2023 |
171,304 |
6,768 |
13,240 |
913,188 |
1,104,500 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
At 31 March 2022 |
- |
3,583 |
4,584 |
- |
8,167 |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Other debtors |
|
961,977 |
887,451 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Corporation tax |
|
126,121 |
311,061 |
|
Social security and other taxes |
|
95,640 |
- |
|
Other creditors |
|
311,829 |
398,915 |
|
|
|
_______ |
_______ |
|
|
|
533,590 |
709,976 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Called up share capital
Issued and called up
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|