Robert Craig & Sons (Merchants) Ltd NI003340 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is producing and wholesaling eggs. Digita Accounts Production Advanced 6.30.9574.0 true true NI003340 2022-04-01 2023-03-31 NI003340 2023-03-31 NI003340 bus:OrdinaryShareClass1 2023-03-31 NI003340 core:CurrentFinancialInstruments 2023-03-31 NI003340 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 NI003340 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 NI003340 core:LandBuildings 2023-03-31 NI003340 core:OtherPropertyPlantEquipment 2023-03-31 NI003340 bus:SmallEntities 2022-04-01 2023-03-31 NI003340 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 NI003340 bus:FullAccounts 2022-04-01 2023-03-31 NI003340 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 NI003340 bus:RegisteredOffice 2022-04-01 2023-03-31 NI003340 bus:Director1 2022-04-01 2023-03-31 NI003340 bus:Director2 2022-04-01 2023-03-31 NI003340 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 NI003340 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 NI003340 core:LandBuildings 2022-04-01 2023-03-31 NI003340 core:MotorVehicles 2022-04-01 2023-03-31 NI003340 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 NI003340 core:PlantMachinery 2022-04-01 2023-03-31 NI003340 countries:NorthernIreland 2022-04-01 2023-03-31 NI003340 2022-03-31 NI003340 core:LandBuildings 2022-03-31 NI003340 core:OtherPropertyPlantEquipment 2022-03-31 NI003340 2021-04-01 2022-03-31 NI003340 2022-03-31 NI003340 bus:OrdinaryShareClass1 2022-03-31 NI003340 core:CurrentFinancialInstruments 2022-03-31 NI003340 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 NI003340 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 NI003340 core:LandBuildings 2022-03-31 NI003340 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI003340

Robert Craig & Sons (Merchants) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Robert Craig & Sons (Merchants) Ltd

(Registration number: NI003340)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

940,067

956,326

Current assets

 

Debtors

5

6,036

313

Cash at bank and in hand

 

206,686

218,471

 

212,722

218,784

Creditors: Amounts falling due within one year

6

(55,993)

(11,690)

Net current assets

 

156,729

207,094

Total assets less current liabilities

 

1,096,796

1,163,420

Creditors: Amounts falling due after more than one year

6

(58,973)

(43,082)

Net assets

 

1,037,823

1,120,338

Capital and reserves

 

Called up share capital

7

30,000

30,000

Revaluation reserve

668,238

668,238

Retained earnings

339,585

422,100

Shareholders' funds

 

1,037,823

1,120,338

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Robert Craig & Sons (Merchants) Ltd

(Registration number: NI003340)
Balance Sheet as at 31 March 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 September 2023 and signed on its behalf by:
 

.........................................
Mr Robert Craig
Director

.........................................
Mr Samuel Kenneth Craig
Director

 

Robert Craig & Sons (Merchants) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 39 Parkfield Road, Ahoghill, Co. Antrim, BT42 1LY.

These financial statements were authorised for issue by the Board on 22 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The Company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Robert Craig & Sons (Merchants) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Tangible assets

Tangible assets (other than freehold property) are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Land and property assets are held at fair value.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% straight line

Motor vehicles

20% straight line

Plant and machinery - poultry house cages

5% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Robert Craig & Sons (Merchants) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

798,615

516,752

1,315,367

Disposals

-

(10,815)

(10,815)

At 31 March 2023

798,615

505,937

1,304,552

Depreciation

At 1 April 2022

-

359,041

359,041

Charge for the year

-

16,259

16,259

Eliminated on disposal

-

(10,815)

(10,815)

At 31 March 2023

-

364,485

364,485

Carrying amount

At 31 March 2023

798,615

141,452

940,067

At 31 March 2022

798,615

157,711

956,326

Included within the net book value of land and buildings above is £798,615 (2022 - £798,615) in respect of freehold land and buildings.
 

5

Debtors

2023
£

2022
£

Prepayments

6,036

313

 

Robert Craig & Sons (Merchants) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,459

1,770

Taxation and social security

1,159

885

Other creditors

53,375

9,035

55,993

11,690

Due after one year

Directors' current account

58,973

43,082

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

30,000

30,000

30,000

30,000

         

8

Related party transactions

The following balance was owed to the directors at the year end:

2023
 £

2022
 £

Directors current account

58,973

43,082

The following balance was owed to the shareholders who are not directors at the year end:

2023
 £

2022
 £

Other creditors

12,000

3,000