COMPANY REGISTRATION NUMBER: NI676845

 

 

 

 

 

 

 

 

 

 

 

 

BASELINE CIVILS LTD

 

Unaudited Financial Statements

 

29 February 2024

Baseline Civils Limited

 

Financial Statements

 

Year ended 29 February 2024

 

Contents

Page

 

 

Directors Report

3

 

 

Report to the director on the preparation of the unaudited statutory financial statements

4

 

 

Statement of financial position

5

 

 

Notes to the financial statements

7

 

Baseline Civils Limited

 

Director's Report

 

Year ended 29 February 2024

 

The director presents his report and the unaudited financial statements of the company for the year ended 29 February 2024.

 

Director

 

The director who served the company during the year was as follows:

 

Mr LWR Duncan

 

Small company provisions

 

This report has been prepared in accordance with the provisions applicable to companies entitled to the small company's exemption.

 

This report was approved by the board of directors on 2 May 2024 and signed on behalf of the board by:

 

 

 

 

Mr LWR Duncan

 

Director

 

Registered Office:

 

17 Montaighroe Road

 

Kesh

 

Co Fermanagh

 

BT93 1ED

 

Baseline Civils Limited

 

Report to the director on the preparation of the unaudited Statutory

Financial Statements of Baseline Civils Ltd

 

Year ended 29 February 2024

 

In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Baseline Civils Ltd for the year ended 29 February 2024, which comprise the statement of income and related earnings, statement of financial position and the related notes from the companies' accounting records and from the information and explanations you have given us.

 

This report is made solely to the director of Baseline Civils Ltd in accordance with the instructions given to me. My work has been undertaken solely to prepare for your approval the financial statements of Baseline Civils Ltd and state those matters that we have agreed to state to you in this report.

 

It is your duty to ensure that Baseline Civils Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Baseline Civils Ltd. You consider that Baseline Civils Ltd is exempt from the statutory audit requirement for the year.

 

 

 

 

Karen Duncan

 

Administrative Assistant

 

Baseline Civils Ltd

Baseline Civils Limited

 

Statement of Financial Position

 

Year ended 29 February 2024

 

 

Note

2023

2022

 

 

£

£

Fixed assets

 

 

 

Tangible assets

5

197,564.80

136,186.00

 

 

 

 

Current assets

 

 

 

 

 

 

 

Debtors

6

157,728.91

227,344.58

 

 

 

 

Cash at bank and in hand

 

15,290.19

99,737.30

 

 

 

 

 

 

370,583.90

327,081.88

 

 

 

 

Creditors:

 

 

 

amounts falling due within one year

7

2,905.13

59,462.64

 

 

 

 

Materials

 

87,674.47

 

 

 

 

 

Net current assets

 

370,583.90

403,805.24

 

 

 

 

Total assets less current liabilities

 

280,004.30

403,805.24

 

 

 

 

Creditors :

 

 

 

Amounts falling due after more than one year

8

0.00

0.00

 

 

 

 

Net assets

 

280,004.30

403,805.24

 

 

 

 

Capital and reserves

 

 

 

 

 

 

 

Called up share capital

 

100.00

100.00

 

 

 

 

Profit and loss account

 

280,004.30

403,805.24

 

 

 

 

Shareholders funds

 

280,004.30

403,905.24

Baseline Civils Limited

 

Statement of Financial Position

 

Year ended 29 February 2024

 

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small company's regime and in accordance with FRS 102 ‘The financial reporting standard applicable in the UK and Republic of Ireland'

 

For the year ending 29 February 2024 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 financial statements for the year in question in accordance with section 476;

 

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

 

These financial statements were approved by the board of directors and authorised for issue on 2 May 2024, and are signed on behalf of the board by:

 

 

 

 

Mr LWR Duncan

 

Director

 

Company registration number: NI 676845

BASELINE CIVILS LTD

 

Notes to the Financial Statements

 

Year Ended 29 February 2024

 

1.     General information

 

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 17 Montaighroe Road, Kesh, Co. Fermanagh, BT931ED.

 

2.     Statement of compliance

 

These financial statements have been prepared in compliance with section 1A of FRS 102, ‘The financial reporting standard applicable in the UK and Republic of Ireland'.

 

3.     Accounting policies

 

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss.

 

The financial statements are prepared in sterling, which is the functional currency of the entity.

 

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances

 

Revenue recognition

Turnover is measured at the fair value of the consideration received or relievable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on dispatch of goods); the amount of the revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

 

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent it relates to items recognised in other comprehensive income or directly in

BASELINE CIVILS LTD

 

Notes to the Financial Statements

 

Year Ended 29 February 2024

 

equity. In case, tax is recognised in other comprehensive income or directly in equity respectively.

 

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

 

Tangible Assets

 

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

 

Impairment of fixed assets

 

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

 

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

 

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASELINE CIVILS LTD

 

Notes to the Financial Statements

 

Year Ended 29 February 2024

 

4.     Employee numbers

 

The average number of persons employed by the company during the year amounted to 4.

 

5.     Tangible assets

 

2023

2022

 

£

£

Cost

 

 

Site Dumpers

36,256.00

13,000.00

Vehicles

44,000.00

14,175.00

 

 

4,500.00

 

 

45,850.00

 

 

48,411.00

 

 

10,250.00

 

 

 

 

 

 

Van

 

6,500.00

Trailer

 

3,950.00

At 29 February

80,256.00

146,636.00

 

 

 

Depreciation

 

 

 

 

 

At 29 February 2024

0.00

29,327.20

 

 

 

Carrying Amount

 

117,308.80

 

 

 

At 29 February 2024

197,564.80

 

 

6.     Debtors

 

£

CIS Tax

157,728.91

 

7     Creditors: Amounts falling due within one year

 

£

Corporation Tax

2,905.13

Materials

87,674.47

 

 

 

90,579.60

 

BASELINE CIVILS LTD

 

Notes to the Financial Statements

 

Year Ended 29 February 2024

 

8.     Creditors: amounts falling due after more than one year

 

£

 

0.00

 

9.     Directors advances, credits and guarantees

 

£

 

0.00

 

10.     Related party transactions

The company was under the control of Mr LWR Duncan throughout the year.