G & R Developments (N.I.) Limited

G & R Developments (N.I.) Limited
Registered number:		NI044867
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Investments	3		220,000			220,000

Current assets
Stocks		10,000			10,000
Cash at bank and in hand		6,310			6,330
		16,310			16,330

Creditors: amounts falling due within one year	4	(5,645)			(3,478)

Net current assets			10,665			12,852

Total assets less current liabilities			230,665			232,852


Provisions for liabilities			(17,076)			(17,076)


Net assets			213,589			215,776

Capital and reserves
Called up share capital			2			2
Profit and loss account			213,587			215,774

Shareholders' funds			213,589			215,776

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006.

The notes on pages 6 to 9 form an integral part of the accounts.




Robert McKelvey			Gary Baird
Director			Director
Approved by the board on 14 March 2025			Approved by the board on 14 March 2025

G & R Developments (N.I.) 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. The financial statements are presented in UK Sterling pounds (£).

	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.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Financial instruments
	Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


2	Employees	2024		2023
Number			Number

	Average number of persons employed by the company	0		0


3	Investments

Other
investments
£
	Cost
	At 1 January 2024			220,000

	At 31 December 2024			220,000

	Historical cost
	At 1 January 2024			220,000
	At 31 December 2024			220,000

	Investments represents let property owned by the company to earn rentals and for capital appreciation. The investment properties are measured at fair value. This valuation has not been carried out by an independent valuer. The changes in fair value are included in the profit and loss account. Deferred tax has been recognised in respect of this fair valuation. The directors are not aware of any restrictions on the realisability of the investment property or the remittance of income and proceeds of disposal. There are no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancements.


4	Creditors: amounts falling due within one year	2024		2023
£			£

	Trade creditors	840		-
	Taxation and social security costs	1,363		1,360
	Other creditors	3,442		2,118
		5,645		3,478


5	Provision for liabilities

	Deferred Taxation
£

	At 1 January 2024			17,076
	Charged to the profit and loss			-

	At 31 December 2024			17,076

	The provision for deferred taxation is made up as follows:

		2024		2023
£			£

	Accelerated capital allowances and losses	-		-

		-		-


6	Directors' advances, credits and guarantees

	During the year the directors advanced £9,408 and the company repaid £8,084 leaving a balance owed to the directors at the year end of £2,442. The balances are interest free and repayable on demand.


7	Statement of changes in equity

	The shareholders funds represents cumulative profits or losses, net of dividends paid, deferred tax adjustments and other adjustments.


8	Other information

	G & R Developments (N.I.) Limited is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
	17 Carrickadartans Road
	Castlederg
	Co Tyrone
	BT81 7NQ