Registered number
12343616
GORTMORE LIMITED
Filleted Accounts
31 December 2024
GORTMORE LIMITED
Registered number: 12343616
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 54,569 49,065
Current assets
Debtors 4 332,273 192,234
Cash at bank and in hand 674,367 523,470
1,006,640 715,704
Creditors: amounts falling due within one year 5 (256,477) (207,007)
Net current assets 750,163 508,697
Total assets less current liabilities 804,732 557,762
Creditors: amounts falling due after more than one year 6 (39,765) (41,791)
Net assets 764,967 515,971
Capital and reserves
Called up share capital 100 100
Profit and loss account 764,867 515,871
Shareholder's funds 764,967 515,971
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Liam Philbin
Director
Approved by the board on 20 August 2025
GORTMORE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Motor vehicles over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 15,520 95,076 110,596
Additions 1,943 46,570 48,513
Disposals - (10,990) (10,990)
At 31 December 2024 17,463 130,656 148,119
Depreciation
At 1 January 2024 4,798 56,733 61,531
Charge for the year 4,013 30,753 34,766
On disposals - (2,747) (2,747)
At 31 December 2024 8,811 84,739 93,550
Net book value
At 31 December 2024 8,652 45,917 54,569
At 31 December 2023 10,722 38,343 49,065
4 Debtors 2024 2023
£ £
Trade debtors 266,087 132,256
Amounts owed by group undertakings and undertakings in which the company has a participating interest 58,932 56,932
Other debtors 7,254 3,046
332,273 192,234
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,648 11,945
Obligations under finance lease and hire purchase contracts 22,893 18,014
Trade creditors 34,392 29,477
Amounts owed to group undertakings and undertakings in which the company has a participating interest 30,000 -
Corporation tax 113,038 70,968
Taxation and social security costs (27,373) (13,164)
Other creditors 72,879 89,767
256,477 207,007
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,324 15,972
Obligations under finance lease and hire purchase contracts 34,441 25,819
39,765 41,791
7 Other information
GORTMORE LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
27A Maxwell Road
Northwood
Middlesex
HA6 2XY
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