G.Flynn Properties Ltd - Accounts to registrar (filleted) - small 18.2

G.Flynn Properties Ltd - Accounts to registrar (filleted) - small 18.2

G.FLYNN PROPERTIES LTD - Company Information

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REGISTERED NUMBER: NI620198 (Northern Ireland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 SEPTEMBER 2018

FOR

G.FLYNN PROPERTIES LTD
G.FLYNN PROPERTIES LTD (REGISTERED NUMBER: NI620198)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


G.FLYNN PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2018







DIRECTOR: G Flynn





SECRETARY:





REGISTERED OFFICE: 112 Market Street
Downpatrick
Co. Down
BT30 6LZ





REGISTERED NUMBER: NI620198 (Northern Ireland)





ACCOUNTANTS: M.B.McGrady & Co
Chartered Accountants
Rathmore House
52 St Patricks Avenue
Downpatrick
Co. Down
BT30 6DS
1
G.FLYNN PROPERTIES LTD (REGISTERED NUMBER: NI620198)

ABRIDGED BALANCE SHEET
30 SEPTEMBER 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 391,121 290,001

CURRENT ASSETS
Cash at bank 6,182 3,273

CREDITORS
Amounts falling due within one year 244,410 182,829
NET CURRENT LIABILITIES (238,228 ) (179,556 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
152,893
110,445

CREDITORS
Amounts falling due after more than one
year
(63,199
)
(30,601
)

PROVISIONS FOR LIABILITIES (18,202 ) (9,046 )
NET ASSETS 71,492 70,798

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 4 53,240 53,240
Retained earnings 18,251 17,557
SHAREHOLDERS' FUNDS 71,492 70,798

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

2 continued...
G.FLYNN PROPERTIES LTD (REGISTERED NUMBER: NI620198)

ABRIDGED BALANCE SHEET - continued
30 SEPTEMBER 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 11 April 2019 and were signed by:





G Flynn - Director


The notes form part of these financial statements

3
G.FLYNN PROPERTIES LTD (REGISTERED NUMBER: NI620198)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2018


1. STATUTORY INFORMATION

G.Flynn Properties 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.

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 as modified by the revaluation of certain assets.

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.

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.

3. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 October 2017 290,001
Additions 101,120
At 30 September 2018 391,121
NET BOOK VALUE
At 30 September 2018 391,121
At 30 September 2017 290,001

4 continued...
G.FLYNN PROPERTIES LTD (REGISTERED NUMBER: NI620198)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2018


3. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2018 is represented by:

Totals
£   
Valuation in 2017 62,286
Cost 328,835
391,121

If Investment Properties had not been revalued they would have been included at the following historical cost:

2018 2017
£    £   
Cost 328,835 227,715

Value of land in freehold land and buildings 328,835 227,715

Investment properties were valued on an open market basis on 30 September 2018 by the directors. .

4. RESERVES
Fair
value
reserve
£   
At 1 October 2017
and 30 September 2018 53,240

5