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Registered number: NI627419
Glor Leim An Mhadaidh Community Development Group
Unaudited Financial Statements
For The Year Ended 31 October 2025
Crossan and Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI627419
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 513,794 558,141
513,794 558,141
CURRENT ASSETS
Cash at bank and in hand 45,906 35,231
45,906 35,231
Creditors: Amounts Falling Due Within One Year 5 (1,415 ) (1,774 )
NET CURRENT ASSETS (LIABILITIES) 44,491 33,457
TOTAL ASSETS LESS CURRENT LIABILITIES 558,285 591,598
Creditors: Amounts Falling Due After More Than One Year 6 (397,841 ) (416,121 )
NET ASSETS 160,444 175,477
RESERVES
Other reserves 157,136 157,136
Income and Expenditure Account 3,308 18,341
MEMBERS' FUNDS 160,444 175,477
Page 1
Page 2
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Peter Nicholl
Director
20/04/2026
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Glor Leim An Mhadaidh Community Development Group is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI627419 . The registered office is 38 Irish Green Street, Limavady, BT49 9AE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
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:
Freehold 5% Straight line
Plant & Machinery 20% Straight line
Fixtures & Fittings 20%
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 1)
3 1
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 November 2024 779,312 54,951 4,556 838,819
Additions - 1,449 4,450 5,899
As at 31 October 2025 779,312 56,400 9,006 844,718
Depreciation
As at 1 November 2024 240,644 40,034 - 280,678
Provided during the period 38,966 11,280 - 50,246
As at 31 October 2025 279,610 51,314 - 330,924
...CONTINUED
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Page 4
Net Book Value
As at 31 October 2025 499,702 5,086 9,006 513,794
As at 1 November 2024 538,668 14,917 4,556 558,141
5. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors - 2
Accruals and deferred income 1,415 1,772
1,415 1,774
6. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
UCIT Loan - 2,694
Designated funds - Restricted 397,841 413,427
397,841 416,121
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 4