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GLENCARRON HOMES LIMITED

Registered Number
NI024034
(Northern Ireland)

Unaudited Financial Statements for the Year ended
31 December 2023

GLENCARRON HOMES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

LIDDY, Brendan
LIDDY, Brigid
LIDDY, Garvan
LIDDY, Shane
MAGILL, Brenda

Company Secretary

LIDDY, Brendan

Registered Address

6 Creamery Road
Crossmaglen
Newry
BT35 9AD

Registered Number

NI024034 (Northern Ireland)
GLENCARRON HOMES LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3570,709599,526
570,709599,526
Current assets
Debtors13,35432,209
Cash at bank and on hand588,332224,041
601,686256,250
Creditors amounts falling due within one year4(159,042)(60,596)
Net current assets (liabilities)442,644195,654
Total assets less current liabilities1,013,353795,180
Creditors amounts falling due after one year5(20,911)(22,311)
Net assets992,442772,869
Capital and reserves
Called up share capital60,00060,000
Profit and loss account932,442712,869
Shareholders' funds992,442772,869
The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2024, and are signed on its behalf by:
LIDDY, Garvan
Director
LIDDY, Shane
Director
MAGILL, Brenda
Director

Registered Company No. NI024034
GLENCARRON HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year6862
3.Tangible fixed assets

Land & buildings

Plant & machinery

Total

£££
Cost or valuation
At 01 January 231,250,225241,7961,492,021
At 31 December 231,250,225241,7961,492,021
Depreciation and impairment
At 01 January 23684,563207,932892,495
Charge for year25,0043,81328,817
At 31 December 23709,567211,745921,312
Net book value
At 31 December 23540,65830,051570,709
At 31 December 22565,66233,864599,526
4.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables20,19118,781
Taxation and social security124,71522,759
Other creditors1,1366,756
Accrued liabilities and deferred income13,00012,300
Total159,04260,596
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.
5.Creditors: amounts due after one year

2023

2022

££
Other creditors20,91122,311
Total20,91122,311