Gort More Holding Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI641545 (Northern Ireland)

Financial Statements

for the Year Ended 31 March 2020

for

Gort More Holding Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Roger William Allen

Mr James Desmond Allen

REGISTERED OFFICE:

Quaker Buildings

High Street

Lurgan

Craigavon

Co. Armagh

BT66 8BB

BUSINESS ADDRESS:

64a Old Kilmore Road

Moira

Craigavon

Co. Armagh

BT67 0LZ

REGISTERED NUMBER:

NI641545 (Northern Ireland)

ACCOUNTANTS:

McCleary & Company Ltd

Chartered Accountants

Quaker Buildings

High Street

Lurgan

Craigavon

Co. Armagh

BT66 8BB

FIXED ASSETS

Tangible assets

4

998,969

1,023,399

Investments

5

100

100

999,069

1,023,499

CURRENT ASSETS

Debtors

6

89

6,459

Cash at bank and in hand

7,389

8,778

7,478

15,237

CREDITORS

Amounts falling due within one year

7

625,790

655,621

NET CURRENT LIABILITIES

(618,312

)

(640,384

)

TOTAL ASSETS LESS CURRENT LIABILITIES

380,757

383,115

CREDITORS

Amounts falling due after more than one year

8

(289,505

)

(344,669

)

PROVISIONS FOR LIABILITIES

(129

)

(106

)

NET ASSETS

91,123

38,340

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

90,923

38,140

91,123

38,340

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 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 29 May 2020 and were signed on its behalf by:

Mr James Desmond Allen - Director

1.	STATUTORY INFORMATION

Gort More Holding 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.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year

and derives from the provision of goods and services falling within the company's ordinary activities.

Tangible fixed assets

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

Land and buildings

-

Straight line over 25 years

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2019

1,045,193

Additions

150

At 31 March 2020

1,045,343

DEPRECIATION

At 1 April 2019

21,794

Charge for year

24,580

At 31 March 2020

46,374

NET BOOK VALUE

At 31 March 2020

998,969

At 31 March 2019

1,023,399

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 April 2019

and 31 March 2020

100

NET BOOK VALUE

At 31 March 2020

100

At 31 March 2019

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Trade debtors

-

6,400

Other debtors

89

59

89

6,459

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

55,164

51,555

Trade creditors

2,307

2,127

Amounts owed to group undertakings

553,972

587,877

Taxation and social security

8,431

6,546

Other creditors

5,916

7,516

625,790

655,621

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

289,505

344,669

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

£

£

Bank loans

344,669

396,224

Bank borrowings are secured by fixed and floating charges over the property and assets of the

company.

10.	RELATED PARTY DISCLOSURES

Dividends of £24,000 were paid to the directors during the year.