REGISTERED NUMBER: NI057744 (Northern Ireland)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

GR White & Son Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R White

Mr G White

Mrs C White

Mrs K White

Mr L McWilliams

Mrs S Hamilton

Mr B R Keys

SECRETARY:

Mr R White

REGISTERED OFFICE:

43 Main Street

Tempo

Co. Fermanagh

BT94 3LU

REGISTERED NUMBER:

NI057744 (Northern Ireland)

ACCOUNTANTS:

HMCI Limited

T/A Hamill McIlwaine

28-30 Old Mountfield Road

Omagh

Co. Tyrone

BT79 7BJ

BANKERS:

Danske Bank

99 - 101 Main Street

Fivemiletown

Co. Tyrone

BT75 9PH

SOLICITORS:

Cooper Wilkinson

Imperial Buildings

38 - 40 Queen Elizabeth Road

Enniskillen

Co Fermanagh

BT74 7BY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,203,348

1,096,541

1,203,348

1,096,541

CURRENT ASSETS

Stocks

303,767

169,374

Debtors

6

804,340

900,675

Cash at bank

6,031

2,341

1,114,138

1,072,390

CREDITORS

Amounts falling due within one year

7

1,004,684

797,530

NET CURRENT ASSETS

109,454

274,860

TOTAL ASSETS LESS CURRENT LIABILITIES

1,312,802

1,371,401

CREDITORS

Amounts falling due after more than one year

8

(83,038

)

(69,643

)

PROVISIONS FOR LIABILITIES

(170,434

)

(161,112

)

NET ASSETS

1,059,330

1,140,646

CAPITAL AND RESERVES

Called up share capital

10

1,200

1,200

Retained earnings

1,058,130

1,139,446

SHAREHOLDERS' FUNDS

1,059,330

1,140,646

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 and authorised for issue by the Board of Directors and authorised for issue on 29 July 2025 and were signed on its behalf by:

Mr R White - Director

1.	STATUTORY INFORMATION

GR White & Son Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements have been prepared on the going concern basis. The principal accounting policies, which have been applied consistently throughout the year, are set out below.

Turnover

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of value added tax and trade discounts. Revenue is recognised when, and to the extent that, the company obtains the right to consideration in exchange for its performance.

Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the Profit and loss account over its estimated economic life. The useful economic life of the asset has been estimated by the directors at ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

15% on cost

Tangible fixed assets are stated at cost less accumulated deprecation. The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.

There was a change of depreciation policy in the year from reducing to straight line method. The straight line method better reflects the economic benefits of the assets.

Stocks

Stocks and work in progress are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost comprises materials, direct wages and other direct production costs together with a proportion of production overheads relevant to the stage of completion of work in progress and finished goods.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 68 (2023 - 61 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

30,000

AMORTISATION

At 1 January 2024

and 31 December 2024

30,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

452,095

94,916

176,943

749,328

1,473,282

Additions

6,400

18,061

12,440

221,503

258,404

Disposals

-

(155

)

(5,382

)

(50,205

)

(55,742

)

At 31 December 2024

458,495

112,822

184,001

920,626

1,675,944

DEPRECIATION

At 1 January 2024

-

45,614

91,361

239,766

376,741

Charge for year

-

14,581

26,203

88,520

129,304

Eliminated on disposal

-

(119

)

(3,401

)

(29,929

)

(33,449

)

At 31 December 2024

-

60,076

114,163

298,357

472,596

NET BOOK VALUE

At 31 December 2024

458,495

52,746

69,838

622,269

1,203,348

At 31 December 2023

452,095

49,302

85,582

509,562

1,096,541

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

617,900

777,533

Amounts recoverable on contract

77,980

90,252

Other debtors

108,460

32,890

804,340

900,675

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,658

11,800

Hire purchase contracts

78,278

63,951

Trade creditors

815,058

504,815

Tax

-

43,392

Social security and other taxes

73,209

118,251

Directors' current accounts

2,397

2,965

Accrued expenses

25,084

52,356

1,004,684

797,530

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

4,163

10,658

Bank loans - 2-5 years

-

4,541

Hire purchase contracts

78,875

54,444

83,038

69,643

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

157,153

118,395

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1,200

Ordinary

£1

1,200

1,200

11.	RELATED PARTY DISCLOSURES

The directors are regarded as related parties of the company. The directors' current account has a balance of £2,397 at the year end (2023: £2,965) and is included in other creditors.