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REGISTERED NUMBER: 07914858 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

G T O'Kane Harvesting Ltd

G T O'Kane Harvesting Ltd (Registered number: 07914858)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G T O'Kane Harvesting Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: G T O'Kane
Mrs P O'Kane





REGISTERED OFFICE: West Wing
Harbottle Castle
Harbottle
Morpeth
NE65 7DH





REGISTERED NUMBER: 07914858 (England and Wales)





ACCOUNTANTS: EQ Accountants Ltd
47-49 The Square
Kelso
Roxburghshire
TD5 7HW

G T O'Kane Harvesting Ltd (Registered number: 07914858)

Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 685,581 709,166
685,581 709,166

CURRENT ASSETS
Inventories 6 20,000 20,000
Debtors 7 26,478 15,706
Cash at bank 214,040 270,482
260,518 306,188
CREDITORS
Amounts falling due within one year 8 129,192 108,078
NET CURRENT ASSETS 131,326 198,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

816,907

907,276

CREDITORS
Amounts falling due after more than one
year

9

(126,445

)

(222,254

)

PROVISIONS FOR LIABILITIES (170,000 ) (135,000 )
NET ASSETS 520,462 550,022

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 520,362 549,922
SHAREHOLDERS' FUNDS 520,462 550,022

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

G T O'Kane Harvesting Ltd (Registered number: 07914858)

Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2025 and were signed on its behalf by:





G T O'Kane - Director


G T O'Kane Harvesting Ltd (Registered number: 07914858)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

G T O'Kane Harvesting Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Changes in accounting policies
The depreciation policies on plant and machinery have been changed from 25% reducing balance to 5% reducing balance in the year, to reflect a more realistic rate of depreciation of the assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 5% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing inventories to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


G T O'Kane Harvesting Ltd (Registered number: 07914858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 110,000
AMORTISATION
At 1 May 2023
and 30 April 2024 110,000
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

G T O'Kane Harvesting Ltd (Registered number: 07914858)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2023 811,382 61,263 1,014 873,659
Additions 20,000 - 550 20,550
At 30 April 2024 831,382 61,263 1,564 894,209
DEPRECIATION
At 1 May 2023 144,616 18,908 969 164,493
Charge for year 33,420 10,589 126 44,135
At 30 April 2024 178,036 29,497 1,095 208,628
NET BOOK VALUE
At 30 April 2024 653,346 31,766 469 685,581
At 30 April 2023 666,766 42,355 45 709,166

6. INVENTORIES
30/4/24 30/4/23
£    £   
Work-in-progress 20,000 20,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Other debtors 26,478 15,706

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 75,810 75,810
Trade creditors 40 -
Taxation and social security 38,678 29,083
Other creditors 14,664 3,185
129,192 108,078

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/4/24 30/4/23
£    £   
Hire purchase contracts 111,445 187,254
Other creditors 15,000 35,000
126,445 222,254