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REGISTERED NUMBER: NI033724 (Northern Ireland)















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: Paul Hill
Nicholas Hill
Tiarnán O'Neill



REGISTERED OFFICE: Carson Mcdowell LLP
Murray House
Murray Street
Belfast
BT1 6DN



REGISTERED NUMBER: NI033724 (Northern Ireland)



INDEPENDENT AUDITORS: CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP



BANKERS: AIB
78 Wellington Street
Ballymena
Antrim
BT43 6AF



SOLICITORS: Mills Selig
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 49,843 56,275
Investments 6 - 5
49,843 56,280

CURRENT ASSETS
Receivables: amounts falling due within
one year

7

1,279,996

757,710
Debtors: amounts falling due after
more than one year

7

9,024,960

1,635,364
Cash at bank 1,173,801 1,456,468
11,478,757 3,849,542
PAYABLES
Amounts falling due within one year 8 (474,143 ) (988,669 )
NET CURRENT ASSETS 11,004,614 2,860,873
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,054,457

2,917,153

PAYABLES
Amounts falling due after more than
one year

9

(600,000

)

(600,000

)
NET ASSETS 10,454,457 2,317,153

CAPITAL AND RESERVES
Called up share capital 10 160,000 160,000
Share premium 1,992,092 1,992,092
Capital redemption reserve 60,000 60,000
Retained earnings 8,242,365 105,061
SHAREHOLDERS' FUNDS 10,454,457 2,317,153

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 25 July 2024 and were signed on its behalf by:





Tiarnán O'Neill - Director


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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 2 (2022 - 2 ) .

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 64,314
DEPRECIATION
At 1 November 2022 8,039
Charge for year 6,432
At 31 October 2023 14,471
NET BOOK VALUE
At 31 October 2023 49,843
At 31 October 2022 56,275

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
COST
At 1 November 2022 5
Disposals (5 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 5

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 - 139,974
Amounts owed by related parties 111,722 -
Prepayments 1,168,274 617,736
1,279,996 757,710

Amounts falling due after more than one year:
Amounts owed by group undertakings - 1,635,364
Amounts owed by related parties 9,024,960 -
9,024,960 1,635,364

Aggregate amounts 10,304,956 2,393,074

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 4,043 240
Amounts owed to related parties 338,926 858,911
Tax 125,224 -
Social security and other taxes - 7,416
Other payables - 50,454
Accruals and deferred income 5,950 71,648
474,143 988,669

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 600,000 600,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
20,000 Ordinary A shares 1 20,000 20,000
140,000 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.

Mr. Ryan Falls (F.C.A) (Senior Statutory Auditor)
for and on behalf of CavanaghKelly

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.