BrightAccountsProduction v1.0.0 v1.0.0 2023-02-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of farming. 31 January 2025 1 1 NI628553 2024-01-31 NI628553 2023-01-31 NI628553 2022-01-31 NI628553 2023-02-01 2024-01-31 NI628553 2022-02-01 2023-01-31 NI628553 uk-bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI628553 uk-curr:PoundSterling 2023-02-01 2024-01-31 NI628553 uk-bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI628553 uk-bus:AbridgedAccounts 2023-02-01 2024-01-31 NI628553 uk-core:ShareCapital 2024-01-31 NI628553 uk-core:ShareCapital 2023-01-31 NI628553 uk-core:RetainedEarningsAccumulatedLosses 2024-01-31 NI628553 uk-core:RetainedEarningsAccumulatedLosses 2023-01-31 NI628553 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-01-31 NI628553 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-01-31 NI628553 uk-bus:FRS102 2023-02-01 2024-01-31 NI628553 uk-core:LandBuildings 2023-02-01 2024-01-31 NI628553 uk-core:PlantMachinery 2023-02-01 2024-01-31 NI628553 uk-core:MotorVehicles 2023-02-01 2024-01-31 NI628553 uk-core:CostValuation 2024-01-31 NI628553 2023-02-01 2024-01-31 NI628553 uk-bus:Director1 2023-02-01 2024-01-31 NI628553 uk-bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI628553
 
 
Gortfinbar Agri Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 January 2024
Gortfinbar Agri Limited
Company Registration Number: NI628553
ABRIDGED BALANCE SHEET
as at 31 January 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 4 66,714 36,392
Investments 5 22,320 22,320
───────── ─────────
Fixed Assets 89,034 58,712
───────── ─────────
 
Current Assets
Debtors 31,200 23,500
Cash and cash equivalents 69,369 9,620
───────── ─────────
100,569 33,120
───────── ─────────
Creditors: amounts falling due within one year (22,727) (13,592)
───────── ─────────
Net Current Assets 77,842 19,528
───────── ─────────
Total Assets less Current Liabilities 166,876 78,240
 
Creditors:
amounts falling due after more than one year (86,616) (36,814)
───────── ─────────
Net Assets 80,260 41,426
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 80,160 41,326
───────── ─────────
Shareholders' Funds 80,260 41,426
═════════ ═════════
 
The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 31 January 2025
           
           
           
________________________________          
Patrick Donaghy          
Director          
           



Gortfinbar Agri Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 January 2024

   
1. General Information
 
Gortfinbar Agri Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI628553. The registered office of the company is 229 Whitebridge Road, Carrickmore, Co. Tyrone, BT79 9BD, United Kingdom. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 January 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 20% Reducing balance
  Motor vehicles - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Employees 1 1
  ═════════ ═════════
           
4. Tangible assets
  Land and Plant and Motor Total
  buildings machinery vehicles  
  freehold      
  £ £ £ £
Cost
At 1 February 2023 - 89,250 10,000 99,250
Additions 26,000 15,000 - 41,000
  ───────── ───────── ───────── ─────────
At 31 January 2024 26,000 104,250 10,000 140,250
  ───────── ───────── ───────── ─────────
Depreciation
At 1 February 2023 - 60,858 2,000 62,858
Charge for the financial year - 8,678 2,000 10,678
  ───────── ───────── ───────── ─────────
At 31 January 2024 - 69,536 4,000 73,536
  ───────── ───────── ───────── ─────────
Net book value
At 31 January 2024 26,000 34,714 6,000 66,714
  ═════════ ═════════ ═════════ ═════════
At 31 January 2023 - 28,392 8,000 36,392
  ═════════ ═════════ ═════════ ═════════
       
5. Investments
  Other Total
  investments  
     
Investments £ £
Cost
 
At 31 January 2024 22,320 22,320
  ───────── ─────────
Net book value
At 31 January 2024 22,320 22,320
  ═════════ ═════════
At 31 January 2023 22,320 22,320
  ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 January 2024.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.