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Registration number: NI657298

CSG Construction Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

CSG Construction Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

CSG Construction Ltd

Company Information

Director

Mr Conor Gilmer

Registered office

29 Massey Avenue
Massey Avenue
Belfast
Antrim
BT4 2JT

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

CSG Construction Ltd

(Registration number: NI657298)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,102

10,128

Current assets

 

Debtors

5

10,801

673

Cash at bank and in hand

 

27,548

6,983

 

38,349

7,656

Creditors: Amounts falling due within one year

6

(54,145)

(41,071)

Net current liabilities

 

(15,796)

(33,415)

Total assets less current liabilities

 

(7,694)

(23,287)

Provisions for liabilities

(1,540)

(1,924)

Net liabilities

 

(9,234)

(25,211)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(9,235)

(25,212)

Shareholders' deficit

 

(9,234)

(25,211)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 August 2024
 

.........................................
Mr Conor Gilmer
Director

   
     
 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
29 Massey Avenue
Massey Avenue
Belfast
Antrim
BT4 2JT
United Kingdom

These financial statements were authorised for issue by the director on 12 August 2024.

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.

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 deferred 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.

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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 & Machinery

20% reducing balance

Commercial Motor Vehicles

20% reducing balance

Office Equipment

20% reducing balance

Fixtures & Fittings

20% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

1,523

21,628

1,235

24,386

At 30 November 2023

1,523

21,628

1,235

24,386

Depreciation

At 1 December 2022

859

12,769

630

14,258

Charge for the year

133

1,772

121

2,026

At 30 November 2023

992

14,541

751

16,284

Carrying amount

At 30 November 2023

531

7,087

484

8,102

At 30 November 2022

664

8,859

605

10,128

5

Debtors

Current

2023
£

2022
£

Trade debtors

10,800

672

Other debtors

1

1

 

10,801

673

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,726

1,702

Taxation and social security

6,433

1,131

Accruals and deferred income

1,200

1,200

Other creditors

44,786

37,038

54,145

41,071

7

Share capital

Allotted, called up and fully paid shares

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2023

2022

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

       

8

Related party transactions

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Transactions with the director

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr Conor Gilmer

Directors Loan

36,414

(6,427)

14,799

44,785

2022

At 1 December 2021
£

Advances to director
£

Repayments by director
£

At 30 November 2022
£

Mr Conor Gilmer

Directors Loan

36,544

(12,774)

12,644

36,414

 

CSG Construction Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

9,888

9,792

Dividends paid to the director

2023
£

2022
£

Mr Conor Gilmer

Dividends

-

-