2022-11-01 2023-10-31 false Capium Accounts Production 1.1 NI612586 bus:FullAccounts 2022-11-01 2023-10-31 NI612586 bus:FRS102 2022-11-01 2023-10-31 NI612586 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 NI612586 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 NI612586 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 NI612586 2022-11-01 2023-10-31 NI612586 2023-10-31 NI612586 bus:RegisteredOffice 2022-11-01 2023-10-31 NI612586 core:WithinOneYear 2023-10-31 NI612586 core:AfterOneYear 2023-10-31 NI612586 bus:Director1 2022-11-01 2023-10-31 NI612586 bus:Director1 2023-10-31 NI612586 bus:Director1 2021-11-01 2022-10-31 NI612586 bus:Director2 2022-11-01 2023-10-31 NI612586 bus:Director2 2023-10-31 NI612586 bus:Director2 2021-11-01 2022-10-31 NI612586 2021-11-01 NI612586 bus:CompanySecretary1 2022-11-01 2023-10-31 NI612586 2021-11-01 2022-10-31 NI612586 2022-10-31 NI612586 core:WithinOneYear 2022-10-31 NI612586 core:AfterOneYear 2022-10-31 NI612586 bus:EntityAccountantsOrAuditors 2021-11-01 2022-10-31 NI612586 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 NI612586 bus:OrdinaryShareClass1 2023-10-31 NI612586 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 NI612586 bus:OrdinaryShareClass1 2022-10-31 NI612586 core:PlantMachinery 2022-11-01 2023-10-31 NI612586 core:PlantMachinery 2023-10-31 NI612586 core:PlantMachinery 2022-10-31 NI612586 core:MotorCars 2022-11-01 2023-10-31 NI612586 core:MotorCars 2023-10-31 NI612586 core:MotorCars 2022-10-31 NI612586 core:ComputerEquipment 2022-11-01 2023-10-31 NI612586 core:ComputerEquipment 2023-10-31 NI612586 core:ComputerEquipment 2022-10-31 NI612586 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2023-10-31 NI612586 core:LeasedAssetsHeldAsLessee core:PlantMachinery 2022-10-31 NI612586 core:CostValuation core:Non-currentFinancialInstruments 2023-10-31 NI612586 core:CostValuation core:Non-currentFinancialInstruments 2022-10-31 NI612586 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-10-31 NI612586 core:DisposalsDecreaseInInvestments core:Non-currentFinancialInstruments 2023-10-31 NI612586 core:RevaluationsIncreaseDecreaseInInvestments core:Non-currentFinancialInstruments 2023-10-31 NI612586 core:Non-currentFinancialInstruments 2023-10-31 NI612586 core:Non-currentFinancialInstruments 2022-10-31 NI612586 core:ShareCapital 2023-10-31 NI612586 core:ShareCapital 2022-10-31 NI612586 core:RetainedEarningsAccumulatedLosses 2023-10-31 NI612586 core:RetainedEarningsAccumulatedLosses 2022-10-31 NI612586 dpl:Item1 2022-11-01 NI612586 dpl:Item1 2023-10-31 NI612586 dpl:Item1 2021-11-01 NI612586 dpl:Item1 2022-10-31 iso4217:GBP xbrli:shares xbrli:pure
Registered Number: NI612586
Northern Ireland

 

 

 

ROXBOROUGH PLANT & CONSTRUCTION LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Directors Frank Curran
Sarah Leathem
Registered Number NI612586
Registered Office 31f Killyman Street
Moy
Dungannon
Tyrone
BT71 7SJ
Secretary John Curran
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 1,017,862    802,293 
1,017,862    802,293 
Current assets      
Inventory 5 2,144,271    1,900,175 
Debtors 6 1,156,134    889,616 
Cash at bank and in hand 137,833    477,431 
3,438,238    3,267,222 
Creditors: amount falling due within one year 7 (1,551,071)   (1,226,512)
Net current assets 1,887,167    2,040,710 
 
Total assets less current liabilities 2,905,029    2,843,003 
Creditors: amount falling due after more than one year 8 (346,300)   (511,290)
Provisions for liabilities 9 (64,158)   (64,158)
Net assets 2,494,571    2,267,555 
 

Capital and reserves
     
Called up share capital 10 200,000    200,000 
General Reserves 11 2,067,554    1,716,877 
Profit and loss account 227,017    350,678 
Shareholders' funds 2,494,571    2,267,555 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 31 July 2024 and were signed on its behalf by:


-------------------------------
Frank Curran
Director
2
General Information
Roxborough Plant & Construction Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI612586, registration address 31f Killyman Street , Moy, Dungannon, Tyrone, BT71 7SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparation of financial statments
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard). 
The financial statements have been prepared in accordance with Companies Act 2006.
Going concern basis
The company has made a profit during the year ended 31 October 2023 and, at that date the Company's assets exceed its liabilities.
The Company's directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully.
Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Judgements and key sources of uncertainty
Judgements and key sources of estimation uncertainty are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There were no critical judgements used in the application of accounting policies, and the preparation of the financial statements.
There were no critical accounting estimates or assumptions used in the application of accounting policies and the preparation of the financial statements.
Statement of cash flows
The company has taken advantage of the exemption from the requirements of FRS 102 to present a Statement of Cash Flows on the grounds that it is a small sized company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Hire Purchase Assets
Assets acquired under hire purchase contracts are capitalised based on the purchase price of the assets. Depreciation is provided on the same basis as for owned assets. The finance interest element of the rental payment is charged to the income statement on a straight line basis over the period of the contract.
The capital value of the hire purchase contact is included in the Statement of Financial Position as a liability, reduced by the capital element of the hire purchase payments.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
The carrying value of plant and equipment is reviewed for impairment in each accounting period if events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10- 25% Straight Line
Motor Vehicles 25% Straight Line
Computer Equipment 25% Straight Line
Inventory
Inventory is stated at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes materials, direct labour and direct costs.
Net realisable value is based on estimate selling prices less further costs expected to be incurred to completion of disposal.
Provision is made for obsolete, slow-moving or defective items where appropriate.
Land held for Development
Land held for development is stated at lower of cost and net realisable value where cost represents the acquisition cost of the land and any other expenditure incurred to date on each parcel of land, and net realisable value is based on the estimate selling price less further costs expected to be incurred to completion or disposal.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
The financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financial transaction, where it is recognised at the present value of future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit & loss. All other such investments are subsequently measured at cost less impairment.  
Other financial instruments, including derivatives are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 
Other financial instruments are subsequently measured at fair value, with any changes recognised in the profit and loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in the profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in the profit & loss immediately, to the extent that the reversal does not result in the carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously recognised.   
2.

Average number of employees

Average number of employees during the year was 23 (2022 : 21).
3.

Capital Commitments and contingent liabilities

The Company did not have any material capital commitments at 31 October 2023 or at 31 October 2022.
The Company did not have any material contingent liabilities at 31 October 2023 or at 31 October 2022.


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 November 2022 1,381,026    131,373    12,509    1,524,908 
Additions 292,821    98,561    832    392,214 
Disposals (46,276)       (46,276)
At 31 October 2023 1,627,571    229,934    13,341    1,870,846 
Depreciation
At 01 November 2022 618,128    92,819    11,667    722,614 
Charge for year 96,467    33,799    104    130,370 
On disposals      
At 31 October 2023 714,595    126,618    11,771    852,984 
Net book values
Closing balance as at 31 October 2023 912,976    103,316    1,570    1,017,862 
Opening balance as at 01 November 2022 762,898    38,554    841    802,293 


5.

Inventory

2023
£
  2022
£
Work in Progress 1,861,021    1,616,925 
Stocks 283,250    283,250 
2,144,271    1,900,175 
There is no material difference between the replacement costs of inventory and the Statement of Financial Position amounts.
Inventor amounts are stated after provisions for impairment of £Nil (2022: £Nil)

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 495,824    265,174 
Amount Owed by Participating Interests 435,172    435,672 
Other Debtors 133,672    133,672 
VAT 91,466    55,098 
1,156,134    889,616 
The trade receivables are stated after provisions for impairment of £Nil (2022 £Nil)

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 927,958    807,837 
Bank Loans & Overdrafts 155,694    155,696 
Amounts Owed to Participating Interests 29,500   
Corporation Tax 6,613    63,500 
PAYE & Social Security 40,298    17,028 
CIS Control Account 49,870    20,214 
Accrued Expenses 19,280    31,840 
Other Creditors 140,029    32,374 
Hire Purchase Creditors 163,575    87,653 
Directors' Current Accounts 18,254    10,370 
1,551,071    1,226,512 

8.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 346,300    489,019 
Other Creditors   22,271 
346,300    511,290 

9.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 64,158    64,158 
64,158    64,158 

10.

Share Capital

Allotted, called up and fully paid
2023
£
  2022
£
200,000 Class A shares of £1.00 each 200,000    200,000 
200,000    200,000 
The Company did not issue any shares during the year.

11.

General Reserves

2023
£
  2022
£
General Reserve b/fwd 2,067,554    1,716,877 
2,067,554    1,716,877 

12.

Related parties

During the year the company entered into the following transactions with related parties:
Transaction value - income/(expenses) Balance owed by/(owed to)
2023
£
 2022
£
 2023
£
 2022
£
Related Party Transactions435,672 43,672 

13.

Ultimate Controlling Party

The ultimate controlling party is the director who controls the majority of the equity share capital in Roxborough Plant & Construction Ltd.


3