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REGISTERED NUMBER: NI603217 (Northern Ireland)















ADVANCED CONCRETE & FORMWORK LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


ADVANCED CONCRETE & FORMWORK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr Gerard Corcoran
Mrs Claire Corcoran



REGISTERED OFFICE: 17 Arvalee Road
OMAGH
Co. Tyrone
BT79 0LR



REGISTERED NUMBER: NI603217 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: HSBC Bank Plc
52/56 Meadow Lane
Portadown
Co. Armagh
BT62 3NJ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ADVANCED CONCRETE & FORMWORK LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 July 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


3 September 2024

ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

BALANCE SHEET
31 JULY 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,564,353 1,325,161

CURRENT ASSETS
Debtors 5 1,187,185 975,066
Cash at bank 1,785,819 1,847,424
2,973,004 2,822,490
CREDITORS
Amounts falling due within one year 6 398,189 406,531
NET CURRENT ASSETS 2,574,815 2,415,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,139,168

3,741,120

CREDITORS
Amounts falling due after more than one
year

7

(60,933

)

(175,640

)

PROVISIONS FOR LIABILITIES (273,607 ) (215,852 )
NET ASSETS 3,804,628 3,349,628

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,804,528 3,349,528
SHAREHOLDERS' FUNDS 3,804,628 3,349,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

BALANCE SHEET - continued
31 JULY 2023


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 3 September 2024 and were signed on its behalf by:




Mr Gerard Corcoran - Director



Mrs Claire Corcoran - Director


ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Advanced Concrete & Formwork Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover from contracts from the provision of construction services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be measured reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual staff costs and materials, as a proportion of total costs. When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately. When the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land & buildings - 3% straight line
Plant & machinery - 20% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capitalelement of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Amounts recoverable on contracts
The amount by which turnover exceeds payments on account on contracts is shown under debtors as amounts recoverable on contracts. Where payments on account exceed turnover the excess is classified as deferred income within creditors. When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

4. TANGIBLE FIXED ASSETS
Land & Plant &
buildings machinery Totals
£    £    £   
COST
At 1 August 2022 456,727 2,073,542 2,530,269
Additions 15,000 613,572 628,572
Disposals - (132,055 ) (132,055 )
At 31 July 2023 471,727 2,555,059 3,026,786
DEPRECIATION
At 1 August 2022 675 1,204,433 1,205,108
Charge for year 1,125 273,586 274,711
Eliminated on disposal - (17,386 ) (17,386 )
At 31 July 2023 1,800 1,460,633 1,462,433
NET BOOK VALUE
At 31 July 2023 469,927 1,094,426 1,564,353
At 31 July 2022 456,052 869,109 1,325,161

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 766,897 476,045
Amounts recoverable on contract 412,305 421,173
Other debtors 7,983 77,848
1,187,185 975,066

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 10,648 10,648
Hire purchase contracts 104,925 208,278
Trade creditors 149,574 144,415
Taxation and social security 121,116 25,554
Other creditors 11,926 17,636
398,189 406,531

ADVANCED CONCRETE & FORMWORK LTD (REGISTERED NUMBER: NI603217)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
as restated
£    £   
Bank loans 18,455 28,237
Hire purchase contracts 42,478 147,403
60,933 175,640

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 18,455 28,237

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

2023 2022
as restated
£    £   
Mr Gerard Corcoran and Mrs Claire Corcoran
Balance outstanding at start of year - 47,061
Amounts repaid - (47,061 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

At the end of the year, the company owed a member of key management personnel £5,611 (£12,551 at 01.08.22). No interest was charged on the loan. The loan is presented within creditors: amounts falling due within one year.