BrightAccountsProduction v1.0.0 v1.0.0 2023-05-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the business is that of design, manufacture and installation of recycling systems. 2 December 2024 26 25 NI072501 2024-04-30 NI072501 2023-04-30 NI072501 2022-04-30 NI072501 2023-05-01 2024-04-30 NI072501 2022-05-01 2023-04-30 NI072501 uk-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI072501 uk-curr:PoundSterling 2023-05-01 2024-04-30 NI072501 uk-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI072501 uk-bus:FullAccounts 2023-05-01 2024-04-30 NI072501 uk-core:ShareCapital 2024-04-30 NI072501 uk-core:ShareCapital 2023-04-30 NI072501 uk-core:RetainedEarningsAccumulatedLosses 2024-04-30 NI072501 uk-core:RetainedEarningsAccumulatedLosses 2023-04-30 NI072501 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-04-30 NI072501 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-04-30 NI072501 uk-bus:FRS102 2023-05-01 2024-04-30 NI072501 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-05-01 2024-04-30 NI072501 uk-core:LandBuildings 2023-05-01 2024-04-30 NI072501 uk-core:PlantMachinery 2023-05-01 2024-04-30 NI072501 uk-core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 NI072501 uk-core:MotorVehicles 2023-05-01 2024-04-30 NI072501 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-04-30 NI072501 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 NI072501 uk-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-01 2024-04-30 NI072501 uk-core:CurrentFinancialInstruments 2024-04-30 NI072501 uk-core:CurrentFinancialInstruments 2023-04-30 NI072501 uk-core:WithinOneYear 2024-04-30 NI072501 uk-core:WithinOneYear 2023-04-30 NI072501 uk-core:WithinOneYear 2024-04-30 NI072501 uk-core:WithinOneYear 2023-04-30 NI072501 uk-core:WithinOneYear 2024-04-30 NI072501 uk-core:WithinOneYear 2023-04-30 NI072501 uk-core:AfterOneYear 2024-04-30 NI072501 uk-core:AfterOneYear 2023-04-30 NI072501 uk-core:AfterOneYear 2024-04-30 NI072501 uk-core:AfterOneYear 2023-04-30 NI072501 uk-core:BetweenOneFiveYears 2024-04-30 NI072501 uk-core:BetweenOneFiveYears 2023-04-30 NI072501 uk-core:OtherMiscellaneousReserve 2023-04-30 NI072501 uk-core:OtherMiscellaneousReserve 2023-05-01 2024-04-30 NI072501 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-04-30 NI072501 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-04-30 NI072501 uk-core:OtherDeferredTax 2024-04-30 NI072501 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-04-30 NI072501 uk-core:OtherMiscellaneousReserve 2024-04-30 NI072501 uk-core:ParentEntities 2023-05-01 2024-04-30 NI072501 uk-countries:UnitedKingdom 2023-05-01 2024-04-30 NI072501 uk-bus:Director1 2023-05-01 2024-04-30 NI072501 uk-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
Company Registration Number: NI072501
 
 
CRS (NI) Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 April 2024
CRS (NI) Ltd
Company Registration Number: NI072501
BALANCE SHEET
as at 30 April 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 287,932 311,927
Tangible assets 5 956,588 730,779
───────── ─────────
Fixed Assets 1,244,520 1,042,706
───────── ─────────
 
Current Assets
Stocks 6 1,216,024 1,175,380
Debtors 7 473,586 3,000,159
Cash and cash equivalents 133,566 709,595
───────── ─────────
1,823,176 4,885,134
───────── ─────────
Creditors: amounts falling due within one year 8 (1,042,025) (4,290,479)
───────── ─────────
Net Current Assets 781,151 594,655
───────── ─────────
Total Assets less Current Liabilities 2,025,671 1,637,361
 
Creditors:
amounts falling due after more than one year 9 (430,974) (292,312)
 
Provisions for liabilities 11 (126,588) (74,695)
 
Government grants 12 (25,767) (45,360)
───────── ─────────
Net Assets 1,442,342 1,224,994
═════════ ═════════
 
Capital and Reserves
Called up share capital 2 2
Retained earnings 1,442,340 1,224,992
───────── ─────────
Equity attributable to owners of the company 1,442,342 1,224,994
═════════ ═════════
 
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 30 April 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 2 December 2024
           
           
________________________________          
Mr. Sean Conlon          
Director          
           



CRS (NI) Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 April 2024

   
1. General Information
 
CRS (NI) Ltd is a company limited by shares incorporated in Northern Ireland. 136 Termon Road, Carrickmore, Omagh, Co Tyrone, BT79 9HW, Northern Ireland is the registered office, which is also the principal place of business of the company.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 30 April 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.
 
Intangible assets
Intangible assets are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 0 years.
 
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 - 10% Straight line
  Plant and machinery - 10%-15% Straight line
  Fixtures, fittings and equipment - 15%-25% Straight line
  Motor vehicles - 25% 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.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. 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.
 
Borrowing costs
All borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
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.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
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.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Research and development
Research expenditure is written off to the Profit and Loss Account in the year in which it is incurred. Development expenditure is written off in the same year unless the director are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period from which the company is expected to benefit.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 26, (2023 - 25).
 
  2024 2023
  Number Number
 
Employees 26 25
  ═════════ ═════════
       
4. Intangible assets
  Development  
  Costs Total
  £ £
Cost
At 1 May 2023 455,896 455,896
  ───────── ─────────
 
At 30 April 2024 455,896 455,896
  ───────── ─────────
Amortisation
At 1 May 2023 143,969 143,969
Charge for financial year 23,995 23,995
  ───────── ─────────
At 30 April 2024 167,964 167,964
  ───────── ─────────
Net book value
At 30 April 2024 287,932 287,932
  ═════════ ═════════
At 30 April 2023 311,927 311,927
  ═════════ ═════════
             
5. Tangible assets
  Land and Plant and Fixtures, Motor Total
  buildings machinery fittings and vehicles  
  freehold   equipment    
  £ £ £ £ £
Cost
At 1 May 2023 588,157 1,280,396 145,247 104,275 2,118,075
Additions 164,983 199,465 60,777 27,660 452,885
  ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 753,140 1,479,861 206,024 131,935 2,570,960
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 May 2023 413,117 817,662 90,065 66,452 1,387,296
Charge for the financial year 47,002 144,725 18,979 16,370 227,076
  ───────── ───────── ───────── ───────── ─────────
At 30 April 2024 460,119 962,387 109,044 82,822 1,614,372
  ───────── ───────── ───────── ───────── ─────────
Net book value
At 30 April 2024 293,021 517,474 96,980 49,113 956,588
  ═════════ ═════════ ═════════ ═════════ ═════════
At 30 April 2023 175,040 462,734 55,182 37,823 730,779
  ═════════ ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Raw materials 529,592 265,200
Work in progress 272,432 760,180
  ───────── ─────────
  802,024 1,025,380
Finished goods and goods for resale 414,000 150,000
  ───────── ─────────
  1,216,024 1,175,380
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 388,231 2,916,409
Other debtors (5,000) 83,750
Taxation  (Note 10) 90,355 -
  ───────── ─────────
  473,586 3,000,159
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts 12,777 14,367
Bank loan 125,203 85,923
Net obligations under finance leases
and hire purchase contracts 5,746 5,209
Trade creditors 819,492 1,295,025
Taxation  (Note 10) 59,400 414,679
Other creditors 300 2,458,992
Accruals:
Pension accrual 3,362 539
Other accruals 15,745 15,745
  ───────── ─────────
  1,042,025 4,290,479
  ═════════ ═════════
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Finance leases and hire purchase contracts 3,618 10,933
Amounts owed to group undertakings 91,876 50,000
Other loans 335,480 231,379
  ───────── ─────────
  430,974 292,312
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 5,746 5,209
Repayable between one and five years 3,618 10,933
  ───────── ─────────
  9,364 16,142
  ═════════ ═════════
       
10. Taxation 2024 2023
  £ £
 
Debtors:
VAT 90,355 -
  ═════════ ═════════
Creditors:
VAT - 386,932
Corporation tax 33,328 21,925
PAYE / NI 26,072 5,822
  ───────── ─────────
  59,400 414,679
  ═════════ ═════════
         
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 74,695 74,695 45,899
Charged to profit and loss 51,893 51,893 28,796
  ───────── ───────── ─────────
At financial year end 126,588 126,588 74,695
  ═════════ ═════════ ═════════
       
12. Government Grants Deferred 2024 2023
  £ £
 
At 1 May 2023 45,360 60,206
  ───────── ─────────
Amortisation
Amortised in financial year (19,593) (14,846)
  ───────── ─────────
Net book value
At 30 April 2024 25,767 45,360
  ═════════ ═════════
   
13. Contingent liabilities
 
The company has a liability to repay grant monies received from funding bodies should it be in breach of their Letters of Offers.
           
14. 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.
   
15. Parent company
 
The company regards CRS NI Global Ltd as its parent company.
 
   
16. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.