G.C. COMMERCIALS NI LTD

Company Registration Number:
NI609546 (Northern Ireland)

Unaudited statutory accounts for the year ended 30 November 2024

Period of accounts

Start date: 1 December 2023

End date: 30 November 2024

G.C. COMMERCIALS NI LTD

Contents of the Financial Statements

for the Period Ended 30 November 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

G.C. COMMERCIALS NI LTD

Directors' report period ended 30 November 2024

The directors present their report with the financial statements of the company for the period ended 30 November 2024

Directors

The director shown below has held office during the whole of the period from
1 December 2023 to 30 November 2024

Mr G Walker


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
13 May 2025

And signed on behalf of the board by:
Name: Mr G Walker
Status: Director

G.C. COMMERCIALS NI LTD

Profit And Loss Account

for the Period Ended 30 November 2024

2024 2023


£

£
Turnover: 2,537,038 2,919,830
Cost of sales: ( 2,110,682 ) ( 2,482,952 )
Gross profit(or loss): 426,356 436,878
Administrative expenses: ( 323,122 ) ( 307,633 )
Operating profit(or loss): 103,234 129,245
Interest payable and similar charges: ( 45,451 ) ( 60,520 )
Profit(or loss) before tax: 57,783 68,725
Tax: ( 12,543 ) ( 15,087 )
Profit(or loss) for the financial year: 45,240 53,638

G.C. COMMERCIALS NI LTD

Balance sheet

As at 30 November 2024

Notes 2024 2023


£

£
Called up share capital not paid: 0 0
Fixed assets
Tangible assets: 3 18,843 22,980
Total fixed assets: 18,843 22,980
Current assets
Stocks: 4 102,856 97,162
Debtors: 5 17,932 28,000
Cash at bank and in hand: 374,991 358,426
Total current assets: 495,779 483,588
Creditors: amounts falling due within one year: 6 ( 187,591 ) ( 200,499 )
Net current assets (liabilities): 308,188 283,089
Total assets less current liabilities: 327,031 306,069
Total net assets (liabilities): 327,031 306,069
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 326,931 305,969
Total Shareholders' funds: 327,031 306,069

The notes form part of these financial statements

G.C. COMMERCIALS NI LTD

Balance sheet statements

For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 13 May 2025
and signed on behalf of the board by:

Name: Mr G Walker
Status: Director

The notes form part of these financial statements

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses Depreciation is provided at rates calculated to write off the cost of the fixed assets less their estimated residual value over their expected useful lives on the following bases Plant & Machinery 18% Motor Vehicles 18% Fixtures & Fittings 18%

    Other accounting policies

    Stocks and Work in Progress Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses. Taxation Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 6 6

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 December 2023 24,404 6,322 80,432 111,158
Additions
Disposals
Revaluations
Transfers
At 30 November 2024 24,404 6,322 80,432 111,158
Depreciation
At 1 December 2023 20,418 6,017 61,743 88,178
Charge for year 718 55 3,364 4,137
On disposals
Other adjustments
At 30 November 2024 21,136 6,072 65,107 92,315
Net book value
At 30 November 2024 3,268 250 15,325 18,843
At 30 November 2023 3,986 305 18,689 22,980

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

4. Stocks

2024 2023
£ £
Stocks 102,856 97,162
Total 102,856 97,162

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

5. Debtors

2024 2023
£ £
Trade debtors 17,932 28,000
Total 17,932 28,000

G.C. COMMERCIALS NI LTD

Notes to the Financial Statements

for the Period Ended 30 November 2024

6. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 148,555 116,216
Taxation and social security 29,334 55,442
Accruals and deferred income 6,050 5,026
Other creditors 3,652 23,815
Total 187,591 200,499