Company Registration No. NI050204 (Northern Ireland)
Gormley Kitchens Ltd
Unaudited accounts
for the year ended 31 March 2024
Gormley Kitchens Ltd
Unaudited accounts
Contents
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
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
Gormley Kitchens Ltd
Statement of financial position
as at 31 March 2024
Tangible assets
80,197
95,881
Cash at bank and in hand
516,387
447,976
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
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
Gormley Kitchens Ltd
Notes to the Accounts
for the year ended 31 March 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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
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
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
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
Amounts falling due within one year
Trade debtors
98,781
81,036
Accrued income and prepayments
440
1,859
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
88,516
62,499
Taxes and social security
29,249
43,906
Loans from directors
39,573
10,657
8
Average number of employees
During the year the average number of employees was 11 (2023: 8).