Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2023 | 2022 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investments | 3 | ||||||
Current assets | |||||||
Stocks | |||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | ( |
( |
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Net current assets | |||||||
Total assets less current liabilities | |||||||
Provisions for liabilities | ( |
( |
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Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | |||||||
Shareholders' funds | |||||||
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006. | |||||||
The notes on pages 6 to 9 form an integral part of the accounts. | |||||||
Robert McKelvey | Gary Baird | ||||||
Director | Director | ||||||
Approved by the board on |
Approved by the board on 2 May 2024 | ||||||
Notes to the Accounts | ||||||||
for the year ended |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are presented in UK Sterling pounds (£). |
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Investments | ||||||||
Stocks | ||||||||
Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
Financial instruments | ||||||||
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. | ||||||||
2 | Employees | 2023 | 2022 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Investments | |||||||
Other | ||||||||
investments | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 January 2023 | ||||||||
At 31 December 2023 | ||||||||
Historical cost | ||||||||
At 1 January 2023 | 220,000 | |||||||
At 31 December 2023 | 220,000 | |||||||
Investments represents let property owned by the company to earn rentals and for capital appreciation. The investment properties are measured at fair value. This valuation has not been carried out by an independent valuer. The changes in fair value are included in the profit and loss account. Deferred tax has been recognised in respect of this fair valuation. The directors are not aware of any restrictions on the realisability of the investment property or the remittance of income and proceeds of disposal. There are no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements. |
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4 | Creditors: amounts falling due within one year | 2023 | 2022 | |||||
£ | £ | |||||||
Trade creditors | - | |||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
5 | Provision for liabilities | |||||||
Deferred Taxation | ||||||||
£ | ||||||||
At 1 January 2023 | 17,076 | |||||||
Charged to the profit and loss | - | |||||||
At 31 December 2023 | 17,076 | |||||||
The provision for deferred taxation is made up as follows: | ||||||||
2023 | 2022 | |||||||
£ | £ | |||||||
Accelerated capital allowances and losses | - | (601) | ||||||
Fair value adjustment of investment property | - | (24,510) | ||||||
- | (25,111) | |||||||
6 | Directors' advances, credits and guarantees | |||||||
During the year the directors advanced £8,000 and the company repaid £8,063 leaving a balance owed to the directors at the year end of £1,118. The balances are interest free and repayable on demand. |
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7 | Statement of changes in equity | |||||||
The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments. | ||||||||
8 | Other information | |||||||
G & R Developments (N.I.) Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is: | ||||||||
17 Carrickadartans Road | ||||||||
Castlederg | ||||||||
Co Tyrone | ||||||||
BT81 7NQ |