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Company Registration No. NI050204 (Northern Ireland)
Gormley Kitchens Ltd Unaudited accounts for the year ended 31 March 2024
Gormley Kitchens Ltd Unaudited accounts Contents
Page
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Gormley Kitchens Ltd Company Information for the year ended 31 March 2024
Directors
Kevin Gormley Mrs Nora Gormley
Secretary
Mrs Nora Gormley
Company Number
NI050204 (Northern Ireland)
Registered Office
211 Boa Island Road Magheramanagh Belleek Fermanagh BT93 3GS Northern Ireland
Accountants
MacNeary Rasdale & Co. Ltd Wellington House 30 Darling St Enniskillen Fermanagh BT74 7EW
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Accountants' report to the Board of Directors on the unaudited financial statements of Gormley Kitchens Ltd for the year ended 31 March 2024
In accordance with our terms of engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.
This report is made solely to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors as a body, for our work or for this report.
We have carried out this engagement in accordance with guidance issued by the Chartered Accountants Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.
You have acknowledged on the balance sheet for the year ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
MacNeary Rasdale & Co. Ltd Chartered Accountants Wellington House 30 Darling St Enniskillen Fermanagh BT74 7EW 12 September 2024
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Gormley Kitchens Ltd Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
80,197 
95,881 
Investments
80,000 
80,000 
160,197 
175,881 
Current assets
Inventories
84,085 
85,013 
Debtors
102,527 
82,895 
Cash at bank and in hand
516,387 
447,976 
702,999 
615,884 
Creditors: amounts falling due within one year
(173,309)
(124,933)
Net current assets
529,690 
490,951 
Total assets less current liabilities
689,887 
666,832 
Provisions for liabilities
Deferred tax
(10,130)
(12,953)
Net assets
679,757 
653,879 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
679,557 
653,679 
Shareholders' funds
679,757 
653,879 
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by
Kevin Gormley Director Company Registration No. NI050204
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Gormley Kitchens Ltd Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Gormley Kitchens Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI050204. The registered office is 211 Boa Island Road, Magheramanagh, Belleek, Fermanagh, BT93 3GS, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight Line
Motor vehicles
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
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Gormley Kitchens Ltd Notes to the Accounts for the year ended 31 March 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
34,171 
43,852 
124,947 
202,970 
Disposals
- 
(10,250)
- 
(10,250)
At 31 March 2024
34,171 
33,602 
124,947 
192,720 
Depreciation
At 1 April 2023
8,892 
24,389 
73,808 
107,089 
Charge for the year
683 
3,673 
10,228 
14,584 
On disposals
- 
(9,150)
- 
(9,150)
At 31 March 2024
9,575 
18,912 
84,036 
112,523 
Net book value
At 31 March 2024
24,596 
14,690 
40,911 
80,197 
At 31 March 2023
25,279 
19,463 
51,139 
95,881 
5
Investments
Other investments 
£ 
Valuation at 1 April 2023
80,000 
Valuation at 31 March 2024
80,000 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
3,306 
- 
Trade debtors
98,781 
81,036 
Accrued income and prepayments
440 
1,859 
102,527 
82,895 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
6,026 
794 
Trade creditors
88,516 
62,499 
Taxes and social security
29,249 
43,906 
Loans from directors
39,573 
10,657 
Accruals
9,945 
7,077 
173,309 
124,933 
8
Average number of employees
During the year the average number of employees was 11 (2023: 8).
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