Registered number
NI607444
Castlederg Building Supplies Ltd
Report and Unaudited Accounts
31 December 2023
Castlederg Building Supplies Ltd
Company Information
Directors
Stephen Lowry
Secretary
Stephen Lowry
Accountants
Tyrone Accountancy Services
8-10 Church Street
Omagh
Co. Tyrone
BT78 1DG
Registered office
30 Carncorn Road
Clare
Castlederg
Co Tyrone
BT81 7RH
Registered number
NI607444
Castlederg Building Supplies Ltd
Registered number: NI607444
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 11,795 14,755
Current assets
Stocks 373,920 353,920
Debtors 4 279,687 272,716
Cash at bank and in hand 12,634 13,830
666,241 640,466
Creditors: amounts falling due within one year 5 (646,640) (611,952)
Net current assets 19,601 28,514
Total assets less current liabilities 31,396 43,269
Creditors: amounts falling due after more than one year 6 (15,962) (25,107)
Provisions for liabilities - (469)
Net assets 15,434 17,693
Capital and reserves
Called up, issued and fully paid share capital 1 1
Profit and loss account 15,433 17,692
Shareholders' funds 9 15,434 17,693
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.
The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006.
The notes on pages 6 to 9 form an integral part of the accounts.
Stephen Lowry
Director
Approved by the board on 23 September 2024
Castlederg Building Supplies Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
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.
The financial statements are presented in UK Sterling pounds (£).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc Fixtures and fittings Total
£ £ £
Cost
At 1 January 2023 59,000 2,400 61,400
At 31 December 2023 59,000 2,400 61,400
Depreciation
At 1 January 2023 44,425 2,220 46,645
Charge for the year 2,915 45 2,960
At 31 December 2023 47,340 2,265 49,605
Net book value
At 31 December 2023 11,660 135 11,795
At 31 December 2022 14,575 180 14,755
4 Debtors 2023 2022
£ £
Trade debtors 279,627 272,716
Deferred tax asset 60 -
279,687 272,716
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,903 10,661
Trade creditors 602,121 556,283
Taxes and social security costs 10,003 12,166
Other creditors 24,613 32,842
646,640 611,952
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,962 25,107
7 Provision for liabilities
Deferred Taxation
£
At 1 January 2023 469
Charged to the profit and loss (529)
At 31 December 2023 (60)
The provision for deferred taxation is made up as follows:
2023 2022
£ £
Accelerated capital allowances 529 1,037
529 1,037
8 Directors' advances, credits and guarantees
There was no movement in the directors current account during the year. The balance owed to the directors at the year end remained £18,374.

The balance is interest free and repayable on demand.
9 Statement of changes in equity
The shareholders funds represents cumulative profits or losses and deferred tax adjustments.
10 Other information
Castlederg Building Supplies Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
30 Carncorn Road
Clare
Castlederg
Co Tyrone
BT81 7RH
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