Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-312022-10-31true22021-11-01falsecontinues to be that of the contruction of domestic buildings.2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05609372 2021-11-01 2022-10-31 05609372 2020-11-01 2021-10-31 05609372 2022-10-31 05609372 2021-10-31 05609372 c:Director1 2021-11-01 2022-10-31 05609372 d:MotorVehicles 2021-11-01 2022-10-31 05609372 d:MotorVehicles 2022-10-31 05609372 d:MotorVehicles 2021-10-31 05609372 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 05609372 d:FurnitureFittings 2021-11-01 2022-10-31 05609372 d:OfficeEquipment 2022-10-31 05609372 d:OfficeEquipment 2021-10-31 05609372 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 05609372 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-31 05609372 d:CurrentFinancialInstruments 2022-10-31 05609372 d:CurrentFinancialInstruments 2021-10-31 05609372 d:Non-currentFinancialInstruments 2022-10-31 05609372 d:Non-currentFinancialInstruments 2021-10-31 05609372 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 05609372 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 05609372 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 05609372 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 05609372 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 05609372 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-10-31 05609372 d:ShareCapital 2022-10-31 05609372 d:ShareCapital 2021-10-31 05609372 d:RetainedEarningsAccumulatedLosses 2022-10-31 05609372 d:RetainedEarningsAccumulatedLosses 2021-10-31 05609372 c:OrdinaryShareClass1 2021-11-01 2022-10-31 05609372 c:OrdinaryShareClass1 2022-10-31 05609372 c:OrdinaryShareClass1 2021-10-31 05609372 c:FRS102 2021-11-01 2022-10-31 05609372 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 05609372 c:FullAccounts 2021-11-01 2022-10-31 05609372 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 05609372 2 2021-11-01 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05609372









O'NEILL CONSTRUCTION GROUP LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

 
O'NEILL CONSTRUCTION GROUP LIMITED
REGISTERED NUMBER: 05609372

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
93
125

  
93
125

Current assets
  

Stocks
  
-
8,915

Debtors: amounts falling due within one year
 5 
8,290
108

Cash at bank and in hand
  
52,412
135,792

  
60,702
144,815

Creditors: amounts falling due within one year
 6 
(24,671)
(55,024)

Net current assets
  
 
 
36,031
 
 
89,791

Total assets less current liabilities
  
36,124
89,916

Creditors: amounts falling due after more than one year
 7 
(27,306)
(37,110)

  

Net assets
  
8,818
52,806


Capital and reserves
  

Called up share capital 
 9 
2
2

Profit and loss account
  
8,816
52,804

  
8,818
52,806


Page 1

 
O'NEILL CONSTRUCTION GROUP LIMITED
REGISTERED NUMBER: 05609372
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 September 2023.




Desmond Patrick O'Neill
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

The company is registered in England and Wales. The company's registered office is Stanley House, 27, Wellington, Road, Bilston, West Midlands, WV14 6AH. The principal activity of the company continues to be that of the Construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a SELECT OR ENTER METHOD basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2021
1,500
1,433
2,933



At 31 October 2022

1,500
1,433
2,933



Depreciation


At 1 November 2021
1,456
1,352
2,808


Charge for the year on owned assets
11
21
32



At 31 October 2022

1,467
1,373
2,840



Net book value



At 31 October 2022
33
60
93



At 31 October 2021
44
81
125

Page 6

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

5.


Debtors

2022
2021
£
£


Trade debtors
241
-

Prepayments and accrued income
91
108

Tax recoverable
7,958
-

8,290
108



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
9,833
9,591

Trade creditors
3,188
8,388

Corporation tax
-
21,606

Other taxation and social security
2,872
3,998

Other creditors
6,778
8,941

Accruals and deferred income
2,000
2,500

24,671
55,024



7.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
27,306
37,110

27,306
37,110


Page 7

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

8.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
9,833
9,591


9,833
9,591

Amounts falling due 1-2 years

Bank loans
27,306
37,110


27,306
37,110



37,139
46,701



9.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



2 (2021 - 2) ordinary shares of £1.00 each
2
2



10.


Controlling party

The controlling interest in the company is held between Desmond Patrick O'Neill and Patricia Ellenor
O'Neill.

 
Page 8