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COMPANY REGISTRATION NUMBER: NI010905
Antrim Asphalt Limited
Filleted Unaudited Financial Statements
30 June 2024
Antrim Asphalt Limited
Financial Statements
Year ended 30th June 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Antrim Asphalt Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
5
200,000
200,000
Profit and loss account
( 200,000)
( 200,000)
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----------
Shareholders funds
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 25 October 2024 , and are signed on behalf of the board by:
SG McCann
Director
Company registration number: NI010905
Antrim Asphalt Limited
Notes to the Financial Statements
Year ended 30th June 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Lagan House, 19 Clarendon Road, Clarendon Dock, Belfast, Co.Antrim, BT1 3BG, Northern Ireland.
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 the 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 or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
4. Investments
Shares in group undertakings
£
Cost
At 1st July 2023 and 30th June 2024
1,000
-------
Impairment
At 1st July 2023 and 30th June 2024
1,000
-------
Carrying amount
At 30th June 2024
-------
At 30th June 2023
-------
Details of the investments in which the group and the company holds 20% or more of the share capital are listed in Note 6 to the Financial Statements.
5. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
200,000
200,000
200,000
200,000
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6. Fixed asset investments - interest in subsidiary undertakings
The company holds directly or indirectly 100% of the share capital of the following companies:
Irish Asphalt Limited; a plant hire company, Runbury International Limited; a property holding company and Linstock Limited; a property holding company. All are registered in the Republic of Ireland.
7. Related party transactions
The company has taken advantage of the exemption under the terms of FRS 102 from disclosing related party transactions with entities that are members of the group.
8. Contingent liability
Various proceedings have been issued against the parent company and certain group subsidiary companies as well as other quarry owners, in relation to the supply of allegedly defective quarry products from inter alia a quarry in Baylane, Co. Dublin, Republic of Ireland. On robust legal advice, the proceedings are being vigorously defended by the companies concerned and those companies do not accept that they have any liability.
9. Control
The directors consider JPK Lagan and MA Lagan to be the ultimate controlling parties.