BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a holding company of a trading group. 9 May 2024 0 0 NI626638 2023-12-31 NI626638 2022-12-31 NI626638 2021-12-31 NI626638 2023-01-01 2023-12-31 NI626638 2022-01-01 2022-12-31 NI626638 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI626638 uk-curr:PoundSterling 2023-01-01 2023-12-31 NI626638 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI626638 uk-bus:FullAccounts 2023-01-01 2023-12-31 NI626638 uk-core:ShareCapital 2023-12-31 NI626638 uk-core:ShareCapital 2022-12-31 NI626638 uk-core:SharePremium 2023-12-31 NI626638 uk-core:SharePremium 2022-12-31 NI626638 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI626638 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 NI626638 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI626638 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 NI626638 uk-bus:FRS102 2023-01-01 2023-12-31 NI626638 uk-core:LandBuildings 2023-01-01 2023-12-31 NI626638 uk-core:PlantMachinery 2023-01-01 2023-12-31 NI626638 uk-core:MotorVehicles 2023-01-01 2023-12-31 NI626638 uk-core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 NI626638 uk-core:CostValuation 2022-12-31 NI626638 uk-core:DisposalsRepaymentsInvestments 2023-12-31 NI626638 uk-core:CostValuation 2023-12-31 NI626638 uk-core:CurrentFinancialInstruments 2023-12-31 NI626638 uk-core:CurrentFinancialInstruments 2022-12-31 NI626638 uk-core:CurrentFinancialInstruments 2023-12-31 NI626638 uk-core:CurrentFinancialInstruments 2022-12-31 NI626638 uk-core:WithinOneYear 2023-12-31 NI626638 uk-core:WithinOneYear 2022-12-31 NI626638 uk-core:WithinOneYear 2023-12-31 NI626638 uk-core:WithinOneYear 2022-12-31 NI626638 uk-core:WithinOneYear 2023-12-31 NI626638 uk-core:WithinOneYear 2022-12-31 NI626638 uk-core:AfterOneYear 2023-12-31 NI626638 uk-core:AfterOneYear 2022-12-31 NI626638 uk-core:AfterOneYear 2023-12-31 NI626638 uk-core:AfterOneYear 2022-12-31 NI626638 uk-core:AfterOneYear 2023-12-31 NI626638 uk-core:AfterOneYear 2022-12-31 NI626638 uk-core:BetweenOneTwoYears 2023-12-31 NI626638 uk-core:BetweenOneTwoYears 2022-12-31 NI626638 uk-core:BetweenTwoFiveYears 2023-12-31 NI626638 uk-core:BetweenTwoFiveYears 2022-12-31 NI626638 uk-core:MoreThanFiveYears 2023-12-31 NI626638 uk-core:MoreThanFiveYears 2022-12-31 NI626638 uk-core:BetweenOneFiveYears 2023-12-31 NI626638 uk-core:BetweenOneFiveYears 2022-12-31 NI626638 uk-core:OtherMiscellaneousReserve 2022-12-31 NI626638 uk-core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 NI626638 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 NI626638 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 NI626638 uk-core:OtherDeferredTax 2023-12-31 NI626638 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 NI626638 uk-core:OtherMiscellaneousReserve 2023-12-31 NI626638 2023-01-01 2023-12-31 NI626638 uk-bus:Director1 2023-01-01 2023-12-31 NI626638 uk-bus:Director2 2023-01-01 2023-12-31 NI626638 uk-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI626638
 
 
Castle Paving Northern Ireland Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023
Castle Paving Northern Ireland Ltd
Company Registration Number: NI626638
BALANCE SHEET
as at 31 December 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 3 839,903 1,102,642
Investments 4 420,110 420,120
───────── ─────────
Fixed Assets 1,260,013 1,522,762
───────── ─────────
 
Current Assets
Stocks 5 169,759 -
Debtors 6 924,763 736,970
Cash and cash equivalents 281,215 60,120
───────── ─────────
1,375,737 797,090
───────── ─────────
Creditors: amounts falling due within one year 7 (92,069) (199,479)
───────── ─────────
Net Current Assets 1,283,668 597,611
───────── ─────────
Total Assets less Current Liabilities 2,543,681 2,120,373
 
Creditors:
amounts falling due after more than one year 8 (592,070) (342,580)
 
Provisions for liabilities 9 (68,897) (70,328)
───────── ─────────
Net Assets 1,882,714 1,707,465
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Share premium account 10 419,999 419,999
Retained earnings 1,462,615 1,287,366
───────── ─────────
Equity attributable to owners of the company 1,882,714 1,707,465
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 9 May 2024 and signed on its behalf by
           
           
________________________________     ________________________________
Damian O'Neill     Shauna O'Neill
Director     Director
           



Castle Paving Northern Ireland Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
Castle Paving Northern Ireland Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI626638. The registered office of the company is 25a Aghascrebagh Road, Greencastle, Omagh, Co Tyrone, BT79 8HJ, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Plant and machinery - 10% Reducing Balance
  Motor vehicles - 25% Reducing Balance
  Website - 33% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the year in which it is receivable.
 
Stocks
Stockss are valued at the lower of cost and net realisable value. Stockss are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
             
3. Tangible assets
  Land and Plant and Motor Website Total
  buildings machinery vehicles    
  freehold        
  £ £ £ £ £
Cost
At 1 January 2023 908,125 422,432 109,965 18,900 1,459,422
Additions 124,443 241,500 87,500 - 453,443
Disposals (575,000) (192,702) - - (767,702)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 457,568 471,230 197,465 18,900 1,145,163
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2023 175,625 97,972 70,709 12,474 356,780
Charge for the financial year 18,303 40,667 31,689 6,237 96,896
On disposals (115,000) (33,416) - - (148,416)
  ───────── ───────── ───────── ───────── ─────────
At 31 December 2023 78,928 105,223 102,398 18,711 305,260
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 31 December 2023 378,640 366,007 95,067 189 839,903
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 December 2022 732,500 324,460 39,256 6,426 1,102,642
  ═════════ ═════════ ═════════ ═════════ ═════════
           
3.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2023   2022  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery 28,067 3,119 38,054 4,228
Motor vehicles 89,871 29,957 3,682 1,227
  ───────── ───────── ───────── ─────────
  117,938 33,076 41,736 5,455
  ═════════ ═════════ ═════════ ═════════
       
4. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
At 1 January 2023 420,120 420,120
Disposals (10) (10)
  ───────── ─────────
At 31 December 2023 420,110 420,110
  ───────── ─────────
Net book value
At 31 December 2023 420,110 420,110
  ═════════ ═════════
At 31 December 2022 420,120 420,120
  ═════════ ═════════
       
5. Stocks 2023 2022
  £ £
 
Finished goods and goods for resale 169,759 -
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
6. Debtors 2023 2022
  £ £
 
Amounts owed by group undertakings 924,483 716,395
Taxation - 20,575
Prepayments and accrued income 280 -
  ───────── ─────────
  924,763 736,970
  ═════════ ═════════
 
Castle Paving Northern Ireland Ltd has a fixed and floating charge with a negative pledge over all the property in Castle Paving Ireland Ltd.
       
7. Creditors 2023 2022
Amounts falling due within one year £ £
 
Bank loan 52,903 26,054
Net obligations under finance leases
and hire purchase contracts 32,044 20,644
Trade creditors 1,814 152,001
Taxation 4,808 280
Accruals 500 500
  ───────── ─────────
  92,069 199,479
  ═════════ ═════════
       
8. Creditors 2023 2022
Amounts falling due after more than one year £ £
 
Bank loan 393,999 194,802
Finance leases and hire purchase contracts 90,579 45,064
Directors' loan accounts 107,492 102,714
  ───────── ─────────
  592,070 342,580
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 7) 52,903 26,054
Repayable between one and two years 105,806 52,108
Repayable between two and five years 206,803 78,162
Repayable in five years or more 81,390 64,532
  ───────── ─────────
  446,902 220,856
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 32,044 20,644
Repayable between one and five years 90,579 45,064
  ───────── ─────────
  122,623 65,708
  ═════════ ═════════
 
The bank loan is a mortgage from Danske Bank for £550,000 taken out over 15 years. Interest is charged quarterly and is at a variable rate. The collateral for the loan is all the companies owned by Castle Paving Northern Ireland Ltd including the properties and assets.
 
Northern Bank Limited has a fixed and floating charge with a negative pledge over the property of Castle Paving Northern Ireland Ltd.
         
9. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2023 2022
  £ £ £
 
At financial year start 70,328 70,328 46,487
Charged to profit and loss (1,431) (1,431) 23,841
  ───────── ───────── ─────────
At financial year end 68,897 68,897 70,328
  ═════════ ═════════ ═════════
   
10. Reserves
 
Share Premium Reserve
 
The amount carried forward is the premium that arose from the issue of shares in 2015.
 
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
           
12. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
At the start of the year, Castle Paving Northern Ireland Ltd owed £102,714 to the directors. During the year, the company borrowed £32,854 and repaid £28,076 leaving a closing balance of £107,492 (2022: £102,714) due to the directors. This is included in the creditors section of the balance sheet.
   
13. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.