BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 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 building and construction. 20 September 2024 11 10 NI617750 2024-05-31 NI617750 2023-05-31 NI617750 2022-05-31 NI617750 2023-06-01 2024-05-31 NI617750 2022-06-01 2023-05-31 NI617750 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI617750 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI617750 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI617750 uk-bus:FullAccounts 2023-06-01 2024-05-31 NI617750 uk-core:ShareCapital 2024-05-31 NI617750 uk-core:ShareCapital 2023-05-31 NI617750 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI617750 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI617750 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI617750 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI617750 uk-bus:FRS102 2023-06-01 2024-05-31 NI617750 uk-core:Goodwill 2023-06-01 2024-05-31 NI617750 uk-core:LandBuildings 2023-06-01 2024-05-31 NI617750 uk-core:PlantMachinery 2023-06-01 2024-05-31 NI617750 uk-core:MotorVehicles 2023-06-01 2024-05-31 NI617750 uk-core:Goodwill 2023-05-31 NI617750 uk-core:Goodwill 2024-05-31 NI617750 uk-core:CurrentFinancialInstruments 2024-05-31 NI617750 uk-core:CurrentFinancialInstruments 2023-05-31 NI617750 uk-core:WithinOneYear 2024-05-31 NI617750 uk-core:WithinOneYear 2023-05-31 NI617750 uk-core:WithinOneYear 2024-05-31 NI617750 uk-core:WithinOneYear 2023-05-31 NI617750 uk-core:AfterOneYear 2024-05-31 NI617750 uk-core:AfterOneYear 2023-05-31 NI617750 uk-core:OtherMiscellaneousReserve 2023-05-31 NI617750 uk-core:OtherMiscellaneousReserve 2023-06-01 2024-05-31 NI617750 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI617750 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-05-31 NI617750 uk-core:OtherDeferredTax 2024-05-31 NI617750 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31 NI617750 uk-core:OtherMiscellaneousReserve 2024-05-31 NI617750 uk-core:ParentEntities 2023-06-01 2024-05-31 NI617750 2023-06-01 2024-05-31 NI617750 uk-bus:Director1 2023-06-01 2024-05-31 NI617750 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI617750
 
 
Cairn Fit-Out Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2024
Cairn Fit-Out Ltd
Company Registration Number: NI617750
BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 198,552 198,859
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Current Assets
Stocks 6 43,806 7,884
Debtors 7 58,399 85,423
Cash and cash equivalents 273,151 373,287
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375,356 466,594
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Creditors: amounts falling due within one year 8 (71,094) (38,096)
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Net Current Assets 304,262 428,498
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Total Assets less Current Liabilities 502,814 627,357
 
Creditors:
amounts falling due after more than one year 9 (387,560) (589,108)
 
Provisions for liabilities 11 (24,971) (14,094)
───────── ─────────
Net Assets 90,283 24,155
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Capital and Reserves
Called up share capital 10 10
Retained earnings 90,273 24,145
───────── ─────────
Equity attributable to owners of the company 90,283 24,155
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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 Director's Report.
           
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms 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 director acknowledges his 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 Director and authorised for issue on 20 September 2024
           
           
           
________________________________          
Mr. Barry McCullagh          
Director          
           



Cairn Fit-Out Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
Cairn Fit-Out Ltd is a company limited by shares incorporated in Northern Ireland. The registered office of the company is 14 Glenmacoffer Road, Omagh, BT79 7RJ, 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 Director's 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 May 2024 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.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Balance Sheet and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
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 - 5% Straight line
  Plant and machinery - 20% Reducing Balance
  Motor vehicles - 20% Reducing Balance
 
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.
 
Stocks
Stocks are valued at the lower of cost and net realisable value.  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.
 
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.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was:
 
  2024 2023
  Number Number
 
Employees 11 10
  ═════════ ═════════
       
4. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 June 2023 107,182 107,182
  ───────── ─────────
 
At 31 May 2024 107,182 107,182
  ───────── ─────────
Amortisation
 
At 31 May 2024 107,182 107,182
  ───────── ─────────
Net book value
At 31 May 2024 - -
  ═════════ ═════════
           
5. Tangible assets
  Land and Plant and Motor Total
  buildings machinery vehicles  
  freehold      
  £ £ £ £
Cost
At 1 June 2023 109,267 171,807 25,445 306,519
Additions - 341 34,270 34,611
  ───────── ───────── ───────── ─────────
At 31 May 2024 109,267 172,148 59,715 341,130
  ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 10,926 85,602 11,132 107,660
Charge for the financial year 5,463 17,309 12,146 34,918
  ───────── ───────── ───────── ─────────
At 31 May 2024 16,389 102,911 23,278 142,578
  ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 92,878 69,237 36,437 198,552
  ═════════ ═════════ ═════════ ═════════
At 31 May 2023 98,341 86,205 14,313 198,859
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Work in progress 43,806 7,884
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 57,133 85,375
Taxation  (Note 10) 1,266 48
  ───────── ─────────
  58,399 85,423
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 503 1,480
Amounts owed to connected parties (Note 12) 39,269 5,090
Taxation  (Note 10) 17,582 19,643
Other creditors 633 1,096
Accruals:
Pension accrual 1,969 1,745
Other accruals 11,138 9,042
  ───────── ─────────
  71,094 38,096
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Amounts owed to group undertakings 387,560 589,108
  ═════════ ═════════
 
       
10. Taxation 2024 2023
  £ £
 
Debtors:
VAT 1,266 48
  ═════════ ═════════
Creditors:
VAT - 1,937
Corporation tax 2,787 5,398
PAYE / NI 12,678 12,308
Subcontractors tax 2,117 -
  ───────── ─────────
  17,582 19,643
  ═════════ ═════════
           
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2024 2023
  £ £ £ £
 
At financial year start 18,087 (3,993) 14,094 4,941
Charged to profit and loss 8,331 2,546 10,877 9,153
  ───────── ───────── ───────── ─────────
At financial year end 26,418 (1,447) 24,971 14,094
  ═════════ ═════════ ═════════ ═════════
           
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.
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
      39,269 5,090
      ═════════ ═════════
   
13. Parent company
 
The company regards Roshca Ltd as its parent company.