REGISTERED NUMBER: |
TULLYMORE HOUSE LIMITED |
Financial Statements for the Year Ended 31 October 2023 |
REGISTERED NUMBER: |
TULLYMORE HOUSE LIMITED |
Financial Statements for the Year Ended 31 October 2023 |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
TULLYMORE HOUSE LIMITED |
Company Information |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
INDEPENDENT AUDITORS: |
Chartered Accountants and Statutory Auditors |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
BANKERS: |
78 Wellington Street |
Ballymena |
Antrim |
BT43 6AF |
SOLICITORS: |
21 Arthur Street |
Belfast |
BT1 4GA |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Statement of Financial Position |
31 OCTOBER 2023 |
2023 | 2022 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Receivables: amounts falling due within one year |
7 |
Debtors: amounts falling due after more than one year |
7 |
Cash at bank |
PAYABLES |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PAYABLES |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Tullymore House Limited is a private company limited by shares, registered in Northern Ireland. The address of the registered office is c/o Carson McDowell LLP, Murray House, Murray Street, Belfast, BT1 6DN. |
The principal activity of the Company is that of a holding company. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. |
The Companys financial statements are presented in Sterling (£). |
Property, plant and equipment |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Freehold |
property |
£ |
COST |
At 1 November 2022 |
and 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2022 |
Disposals | ( |
) |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
The following were subsidiary undertakings of the company up until 18 November 2022, at which point the company disposed of it's shareholdings in each entity in full. |
Name |
Registered office |
Principal activity |
Class of shares |
Holding |
Galgorm Manor Hotel Limited |
Northern Ireland |
Provision of hotel, spa, restaurant and bar facilities |
Ordinary |
100% |
Fratelli (Belfast) Ltd |
Northern Ireland |
Provision of restaurant and bar facilities |
Ordinary |
100% |
Fratelli (Ormeau Road) Limited |
Northern Ireland |
Property development |
Ordinary |
100% |
Pig and Chicken Inn Ltd |
Northern Ireland |
Provision of hotel, spa, restaurant and bar facilities |
Ordinary |
100% |
1614 Ltd |
Northern Ireland |
Provision of hotel, spa, restaurant and bar facilities |
Ordinary |
100% |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
7. | RECEIVABLES |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Amounts owed by related parties |
Prepayments |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Amounts owed by related parties |
Aggregate amounts |
Amounts owed by group undertakings and related parties are interest free, unsecured and repayable on demand except those which are financing in nature whereby a market rate of interest is charged. |
8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade payables |
Amounts owed to related parties | 338,926 | 858,911 |
Tax |
Social security and other taxes |
Other payables |
Accruals and deferred income |
Amounts owed to group undertakings and related parties are interest free, unsecured and repayable on demand except those which are financing in nature whereby a market rate of interest is charged. |
9. | PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR |
2023 | 2022 |
£ | £ |
Shares classified as financial liabilities |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary A shares | 1 | 20,000 | 20,000 |
Ordinary B shares | 1 | 140,000 | 140,000 |
160,000 | 160,000 |
TULLYMORE HOUSE LIMITED (REGISTERED NUMBER: NI033724) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Auditors' Report was unqualified. |
for and on behalf of |
12. | RELATED PARTY DISCLOSURES |
During the period the company traded with Galgorm Manor Hotel Limited, who is a related party by virtue of common control and common directors. |
Purchases from Galgorm Manor Hotel Limited totalled £32,436 (2022: £89,182). Included within other income is interest received of £39,582 (2022: £Nil). |
At the year end 31 October 2023, there were amounts owed by related parties of £9,136,682 (2022: £Nil). |
At the year end 31 October 2023, there were amounts owed to related parties of £338,926 (2022: £858,911). |
Dividends of £583,333 (2022: £2,400,000) were paid to entities under common control. |
No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102 paragraph 33. |
13. | CONTROLLING PARTY |
The company was under the control of Mr P J Hill and Mr N H Hill throughout the current and previous period. |
14. | POST BALANCE SHEET EVENTS |
The are no post balance sheet events of note. |