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Registration number: NI659463

R S Construction (Co Antrim) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

R S Construction (Co Antrim) Ltd

(Registration number: NI659463)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

40,353

180

Cash at bank and in hand

 

18,358

64,393

 

58,711

64,573

Creditors: Amounts falling due within one year

5

(31,826)

(31,026)

Total assets less current liabilities

 

26,885

33,547

Creditors: Amounts falling due after more than one year

5

(7,505)

(12,510)

Net assets

 

19,380

21,037

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

19,280

20,937

Shareholders' funds

 

19,380

21,037

For the financial year ending 31 December 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 23 April 2024
 

.........................................
Mr Philip Stewart
Director

 

R S Construction (Co Antrim) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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: 35A Ballykenver Road, Stranocum, Co. Antrim, BT53 8PZ.

These financial statements were authorised for issue by the director on 23 April 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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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 and machinery

15% per annum straight line method

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.

 

R S Construction (Co Antrim) Ltd

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

40,000

-

Prepayments

 

180

171

Other debtors

 

173

9

 

40,353

180

 

R S Construction (Co Antrim) Ltd

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Loans and borrowings

7

4,994

4,989

Trade creditors

 

780

-

Accruals and deferred income

 

6,150

6,135

Other creditors

8

19,902

19,902

 

31,826

31,026

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

7

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

7,505

12,510

Current loans and borrowings

2023
£

2022
£

Bank borrowings

4,994

4,989

8

Related party transactions

Debtors included £40,000 (2022: £nil) owed to the company by PCS Property Ltd, a company controlled by the director and his wife.

Other creditors includes £2,529 owing to P S Engineering (Co. Antrim) Ltd (2022: £2,529), a company controlled by the director and his wife. Other creditors also includes £17,373 owing to TJS Steel Supplies Ltd (2022: £17,373), a company controlled by the director.