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Registration number: NI689662

Slieve Gullion Getaways Ltd

Unaudited Filleted Financial Statements

for the Period from 1 August 2023 to 30 June 2024

 

Slieve Gullion Getaways Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Slieve Gullion Getaways Ltd

Company Information

Directors

Mr Derek Johnston

Mrs Sheila Johnston

Registered office

5 Lower Catherine Street
Newry
Co Down
BT35 6BE

Bankers

Revolut Business

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Slieve Gullion Getaways Ltd

(Registration number: NI689662)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

124,141

6,776

Current assets

 

Debtors

5

35,197

28,381

Cash at bank and in hand

 

11,391

3,389

 

46,588

31,770

Creditors: Amounts falling due within one year

6

(128,767)

(14,003)

Net current (liabilities)/assets

 

(82,179)

17,767

Total assets less current liabilities

 

41,962

24,543

Provisions for liabilities

(4,635)

(1,287)

Net assets

 

37,327

23,256

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

37,325

23,254

Shareholders' funds

 

37,327

23,256

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 November 2024 and signed on its behalf by:
 

.........................................
Mr Derek Johnston
Director

.........................................
Mrs Sheila Johnston
Director

 
     
 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
5 Lower Catherine Street
Newry
Co Down
BT35 6BE
Northern Ireland

These financial statements were authorised for issue by the Board on 28 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

20% Reducing balance basis

Freehold Property

4% Straight Line Depreciation

Plant and Machinery

20% Reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

-

8,470

-

8,470

Additions

102,833

-

25,000

127,833

At 30 June 2024

102,833

8,470

25,000

136,303

Depreciation

At 1 August 2023

-

1,694

-

1,694

Charge for the period

4,113

1,355

5,000

10,468

At 30 June 2024

4,113

3,049

5,000

12,162

Carrying amount

At 30 June 2024

98,720

5,421

20,000

124,141

At 31 July 2023

-

6,776

-

6,776

Included within the net book value of land and buildings above is £98,720 (2023 - £Nil) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Other debtors

35,197

28,381

 

35,197

28,381

 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,300

300

Taxation and social security

4,312

4,167

Accruals and deferred income

2,500

1,000

Other creditors

118,655

8,536

128,767

14,003

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2

       

8

Related party transactions

 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

Transactions with directors

2024

At 1 August 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

Mr Derek Johnston

Directors loan

(19,489)

(50,067)

44,360

(25,196)

2023

At 14 July 2022
£

Advances to director
£

Repayments by director
£

At 31 July 2023
£

Mr Derek Johnston

Directors loan

-

(72,869)

53,380

(19,489)

 

Slieve Gullion Getaways Ltd

Notes to the Unaudited Financial Statements for the Period from 1 August 2023 to 30 June 2024

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

At start of period

(354)

(354)

Advanced

(58,094)

(58,094)

Repaid

177,103

177,103

At end of period

118,655

118,655

2023

Entities with joint control or significant influence
£

Total
£

Advanced

(112,272)

(112,272)

Repaid

111,918

111,918

At end of period

(354)

(354)