General Trading Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: NI001845 (Northern Ireland)

GENERAL TRADING SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2025

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr John Davis

Mrs Margaret Davis

Mr E R Davis

SECRETARY:

Mr John Davis

REGISTERED OFFICE:

4 Moyle Road

Newtownstewart

Co. Tyrone

BT78 4JS

REGISTERED NUMBER:

NI001845 (Northern Ireland)

ACCOUNTANTS:

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

BANKERS:

Danske Bank

5-7 Market Street

OMAGH

Co. Tyrone

BT78 1BN

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 July 2025 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 July 2025 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

McAleer Jackson Ltd

Chartered Accountants

Church House

24 Dublin Road

OMAGH

Co. Tyrone

BT78 1HE

28 May 2026

FIXED ASSETS

Tangible assets

4

2,545,682

2,766,279

CURRENT ASSETS

Stocks

11,235

12,180

Debtors

5

2,269,038

1,050,489

Cash at bank

1,147,412

2,142,248

3,427,685

3,204,917

CREDITORS

Amounts falling due within one year

6

1,155,713

1,216,689

NET CURRENT ASSETS

2,271,972

1,988,228

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,817,654

4,754,507

CREDITORS

Amounts falling due after more than one
year

7

(529,299

)

(413,450

)

PROVISIONS FOR LIABILITIES

(552,822

)

(589,303

)

NET ASSETS

3,735,533

3,751,754

CAPITAL AND RESERVES

Called up share capital

3,490

Share premium

339,200

Revaluation reserve

8

104,000

Retained earnings

3,288,843

3,305,064

SHAREHOLDERS' FUNDS

3,735,533

3,751,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2025 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 by the Board of Directors and authorised for issue on 28 May 2026 and were signed on its behalf by:

Mr John Davis - Director

Mr E R Davis - Director

1.	STATUTORY INFORMATION

General Trading Services Limited 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.

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.

The financial statements are prepared in sterling which is the functional currency of the company.

Turnover

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

Tangible fixed assets

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

Land & buildings - 2% straight line

Plant & machinery - varies between 5% & 25% straight line

Motor vehicles - varies between 15% & 25% straight line

Office equipment - 25% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Plant,

Freehold

machinery

Fixtures

Motor

property

& trailers

& fittings

vehicles

Totals

£

COST

At 1 August 2024

161,258

4,115,602

29,129

3,107,375

7,413,364

Additions

-

298,730

-

298,730

Disposals

-

(34,990

)

(34,990

)

Reclassification/transfer

-

10,425

-

(10,425

)

-

At 31 July 2025

161,258

4,424,757

29,129

3,061,960

7,677,104

DEPRECIATION

At 1 August 2024

88,370

1,780,684

25,550

2,752,481

4,647,085

Charge for year

3,226

296,329

1,668

209,357

510,580

Eliminated on disposal

-

(26,243

)

(26,243

)

At 31 July 2025

91,596

2,077,013

27,218

2,935,595

5,131,422

NET BOOK VALUE

At 31 July 2025

69,662

2,347,744

1,911

126,365

2,545,682

At 31 July 2024

72,888

2,334,918

3,579

354,894

2,766,279

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

1,211,622

998,967

Other debtors

1,057,416

51,522

2,269,038

1,050,489

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Hire purchase contracts

233,635

300,460

Trade creditors

667,815

656,185

Taxation and social security

237,536

246,277

Other creditors

16,727

13,767

1,155,713

1,216,689

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Hire purchase contracts

282,550

227,240

Other creditors

246,749

186,210

529,299

413,450

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Directors loan

246,749

186,210

8.

RESERVES

Revaluation

reserve

£

At 1 August 2024

and 31 July 2025

104,000

9.	RELATED PARTY DISCLOSURES

At the period end the company had a loan amounting to £246,749 (£186,210 as at 31.07.2024) from

members of key management personnel.

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due after one year.