Registered number
NI031871
GORTALOWRY HOUSE PROJECT LIMITED
Unaudited Abridged Report and Accounts
31 March 2024
Company limited by guarantee not having a share capital
Registered Charity Number NIC 102418
GORTALOWRY HOUSE PROJECT LIMITED
Accountants' report to the Trustees of
GORTALOWRY HOUSE PROJECT LIMITED
I report to the Trustees present their on my examination of the financial statements of the Gortalowry House Projects Limited ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act') and the Companies Act 2006 ('the 2006 Act'). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
You consider that the company is exempt from an audit . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. IN carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination, I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
Accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
The financial statements do not accord with those records; or
The financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
The financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
A McCrory & Co Limited
Chartered Accountants
15b Molesworth Street
Cookstown
Co Tyrone
BT80 8NX
26 June 2024
GORTALOWRY HOUSE PROJECT LIMITED
Registered number: NI031871
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 470,827 471,240
Current assets
Cash at bank and in hand 19,907 21,529
Creditors: amounts falling due within one year 4 (1,356) (1,342)
Net Current Assets 18,551 20,187
Net Assets 489,378 491,427
Capital and reserves
Profit and loss account 489,378 491,427
Shareholders' funds 489,378 491,427
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.
All the members of Gortalowry House Project Limited have consented to the preparation of the Unaudited Abridged Report of Accounts statement of the financial position for the current year in accordance with Section 444 (2A) of the Companies Act 2006.
William Stewart
Director
Approved by the board on 26 June 2024
GORTALOWRY HOUSE PROJECT LIMITED
Notes to the Accounts
for the year ended 31 March 2024
the charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 94 Church Street, Cookstown Co Tyrone BT80 8HX.
1 Accounting policies
Statement of compliance and Going Concern
The accounts have been prepared on the going concern basis under the historical cost convention and in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to Charites preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
Incoming Resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific polices are applied to particular categorised of income.
income form donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No deduction
Plant and machinery 15% Reducing balance
Provisions
Provisions (i.e. 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 468,489 24,404 492,893
At 31 March 2024 468,489 24,404 492,893
Depreciation
At 1 April 2023 - 21,653 21,653
Charge for the year - 413 413
At 31 March 2024 - 22,066 22,066
Net book value
At 31 March 2024 468,489 2,338 470,827
At 31 March 2023 468,489 2,751 471,240
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 1,356 1,342
5 Related parties
There were no disclosable related party transactions during the year (2023 - none).
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