G & R Developments (N.I.) Limited
Registered number: NI044867
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 220,000 220,000
Current assets
Stocks 10,000 10,000
Cash at bank and in hand 6,330 9,289
16,330 19,289
Creditors: amounts falling due within one year 4 (3,478) (4,235)
Net current assets 12,852 15,054
Total assets less current liabilities 232,852 235,054
Provisions for liabilities (17,076) (17,076)
Net assets 215,776 217,978
Capital and reserves
Called up share capital 2 2
Profit and loss account 215,774 217,976
Shareholders' funds 215,776 217,978
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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 2 May 2024 Approved by the board on 2 May 2024
G & R Developments (N.I.) Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The financial statements are presented in UK Sterling pounds (£).
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 0 0
3 Investments
Other
investments
£
Cost
At 1 January 2023 220,000
At 31 December 2023 220,000
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.
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 600
Taxation and social security costs 1,360 1,455
Other creditors 2,118 2,180
3,478 4,235
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.
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
G & R Developments (N.I.) Limited NI044867 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts April 2024 Robert McKelvey No description of principal activity NI044867 2022-01-01 2022-12-31 NI044867 core:WithinOneYear 2022-12-31 NI044867 core:ShareCapital 2022-12-31 NI044867 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI044867 2023-01-01 2023-12-31 NI044867 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI044867 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI044867 bus:Director40 2023-01-01 2023-12-31 NI044867 1 2023-01-01 2023-12-31 NI044867 2 2023-01-01 2023-12-31 NI044867 countries:England 2023-01-01 2023-12-31 NI044867 bus:FRS102 2023-01-01 2023-12-31 NI044867 bus:FilletedAccounts 2023-01-01 2023-12-31 NI044867 2023-12-31 NI044867 core:WithinOneYear 2023-12-31 NI044867 core:ShareCapital 2023-12-31 NI044867 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI044867 2022-12-31 iso4217:GBP xbrli:pure