Registered number
NI044759
CCL Services (NI) Ltd
Filleted Accounts
29 February 2024
CCL Services (NI) Ltd
Registered number: NI044759
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 1,206,138 860,938
Investment Properties 5 3,340,789 2,454,564
4,546,927 3,315,502
Current assets
Stocks 220,603 92,084
Debtors 6 762,661 555,634
Cash at bank and in hand 583,335 88,633
1,566,599 736,351
Creditors: amounts falling due within one year 7 (3,766,982) (1,692,364)
Net current liabilities (2,200,383) (956,013)
Total assets less current liabilities 2,346,544 2,359,489
Creditors: amounts falling due after more than one year 8 - (148,021)
Provisions for liabilities (481,764) (171,975)
Net assets 1,864,780 2,039,493
Capital and reserves
Called up share capital 2 2
Profit and loss account 1,864,778 2,039,491
Shareholders' funds 1,864,780 2,039,493
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.
Cathal Boylan
Director
Approved by the board on 21 October 2024
CCL Services (NI) Ltd
Notes to the Accounts
for the year ended 29 February 2024
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 (as applied to small entities by section 1A of the standard).
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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
Motor vehicles 20% reducing balance
Stocks & Work In Progress
Stock and work in progress 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 and work in progress 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2024 2023
£ £
Intercompany loan forgiveness (150,243) -
(150,243) -
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 13
4 Tangible fixed assets
Land and buildings Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 19,495 1,284,590 382,962 1,687,047
Additions - 686,602 99,750 786,352
Disposals (19,495) (490,260) - (509,755)
At 29 February 2024 - 1,480,932 482,712 1,963,644
Depreciation
At 1 March 2023 - 660,160 165,949 826,109
Charge for the year - 131,623 46,518 178,141
On disposals - (246,744) - (246,744)
At 29 February 2024 - 545,039 212,467 757,506
Net book value
At 29 February 2024 - 935,893 270,245 1,206,138
At 28 February 2023 19,495 624,430 217,013 860,938
5 Investment Properties 2024 2023
£ £
At 1 March 2023 2,454,564 -
Cost - Transfer from L&B - 783,870
Additions 886,225 1,670,694
At 29 February 2024 3,340,789 2,454,564
6 Debtors 2024 2023
£ £
Trade debtors 486,176 71,741
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 187,434
Other debtors 276,485 296,459
762,661 555,634
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 15,837 56,577
Obligations under finance lease and hire purchase contracts 2,188 3,751
Trade creditors 150,658 383,421
Amounts owed to group undertakings and undertakings in which the company has a participating interest 3,580,293 911,905
Taxation and social security costs 9,848 13,552
Other creditors 8,158 323,158
3,766,982 1,692,364
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 145,833
Obligations under finance lease and hire purchase contracts - 2,188
- 148,021
9 Events after the reporting date
There have been no events occurring since the balance sheet date which would necessitate a revision of the above figures.
10 Capital commitments
There were no capital commitments at the year end.
11 Contingent liabilities
As far as the directors are aware there were no contingent liabilities at the year end not disclosed in the financial statements.
12 Related party transactions
Related party transactions have occurred between the company and its parent company Jeck Ltd. CCL Services (NI) Ltd pay certain expenditure on behalf of Jeck Ltd. All such transactions are at arms length.
2024 2023
£ £
Amount due from (to) related party (2,898,205) (753,726)
CCL Marine Limited, a company incorporated in Northern Ireland, is a related party by virtue of common control and influence. An amount of £150,243 was written off by the directors of CCL Marine Limited as this was deemed to no longer be recoverable and this has resulted in an exceptional item in the year to 29th February 2024.
2024 2023
£ £
Amount due from (to) related party - 187,434
CCL Contracts Limited, a company incorporated in the Republic of Ireland, is a related party by virtue of common control and influence. CCL Contracts Ltd pay certain expenditure on behalf of CCL Services (NI) Ltd. All such transactions are at arms length.
2024 2023
£ £
Amount due from (to) related party (682,088) (157,179)
13 Controlling party
The ultimate controlling party has been identified as Cathal Boylan, the managing director.
14 Other information
CCL Services (NI) Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
Unit 7
Carnbane Business Park
Newry
Co. Down
BT35 6FY
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