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Registered Number: NI683518
Northern Ireland

 

 

 

ROXBOROUGH GROUND IMPROVEMENT LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
Directors Fergus CURRAN
Frank CURRAN
Sarah LEATHEM
Registered Number NI683518
Registered Office 31f Killyman Street
Moy
Tyrone
BT71 7SJ
Secretary Sarah Leathem
1
Director's report and financial statements
The directors present their annual report and the financial statements for the year ended 30 November 2023
Principal activities
The companys principal activity during the year was providing a service to improve ground conditions using specialised methods and machinery.
Directors
The directors who served the company throughout the year were as follows:
Fergus CURRAN
Frank CURRAN
Sarah LEATHEM
Statement of directors' responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

Accounting Records
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The measures taken by the Directors to secure compliance with the requirement of Section 386 to Section 389 of the Companies Act 2006, with regard to keeping of accounting records, are the employment of appropriatley qualified accounting personnel and the maintenance of  computerised accounting systems.
The Company's accounting records are maintained at 31f Killyman Street, Moy.


Provisions relating to the preparation of financial statements

This report has been prepared in accordance with the provisions of the Companies Act 2006 relating to small sized companies.
Disabled persons

The company's policy is to recruit disabled workers for those vacancies that they are able to fill and all necessary assistance with initial training courses is provided. Arrangements are made, whenever possible, for retaining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities.

This report was approved by the board and signed on its behalf by:


----------------------------------
Frank CURRAN
Director

Date approved: 14 August 2024
2
 
 
Notes
 
2023
£
  2022
£
Current assets      
Debtors 4 193,571    11,901 
Cash at bank and in hand 6,595    64,050 
200,166    75,951 
Creditors: amount falling due within one year 5 (113,798)   (53,849)
Net current assets 86,368    22,102 
 
Total assets less current liabilities 86,368    22,102 
Net assets 86,368    22,102 
 

Capital and reserves
     
Called up share capital 6 1    1 
Profit and loss account 86,367    22,101 
Shareholders' funds 86,368    22,102 
 


For the year ended 30 November 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 14 August 2024 and were signed on its behalf by:


-------------------------------
Frank CURRAN
Director
3
  Equity share capital   Retained Earnings   Total
£ £ £
Profit for the year 22,101  22,101 
Total comprehensive income for the year 22,101  22,101 
Shares issued 1 
Total investments by and distributions to owners 1 
At 30 November 2022 1  22,101  22,102 
At 01 December 2022 1 
Profit for the year 64,267  64,267 
Transfers to/from other reserves 22,100  22,100 
Total comprehensive income for the year 86,367  86,367 
Total investments by and distributions to owners
At 30 November 2023 1  86,367  86,368 
4
General Information
Roxborough Ground Improvement Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI683518, registration address 31f Killyman Street , Moy, Tyrone, BT71 7SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 30 November 2023 and, at that date the Company's assets exceed its liabilities.
The 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 services supplied by the company, net of Value Added Tax and trade discounts.
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
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 3 (2022 : 3).
3.

Financial Commitments, Guarantees and Contingencies

The Company did not have any material capital commitments at 30 November 2023.
The Company did not have any material contingent liabilities at 30 November 2023.

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 175,958    11,900 
Called up Share Capital Not Paid 1    1 
VAT 17,612   
193,571    11,901 
The trade receivables are stated after provisions for impairment of £Nil

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 79,999   
Amounts Owed to Participating Interests 12,790   
Corporation Tax 20,259    5,184 
Accrued Expenses 750    48,665 
113,798    53,849 

6.

Share Capital

Authorised
100 Class A shares of £0.01 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £0.01 each  
 

7.

Ultimate Controlling Party

John Curran is considered by the directors to be the company's ultimate controlling party, as he holds 100% of the ordinary share capital of the company.
5