CAUSEWAY BUSINESS EXCHANGE LTD

Company limited by guarantee

Company Registration Number:
SC596010 (Scotland)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

CAUSEWAY BUSINESS EXCHANGE LTD

Contents of the Financial Statements

for the Period Ended 31 May 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

CAUSEWAY BUSINESS EXCHANGE LTD

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal activities of the company

The principal activity of the company is the promotion of business relationships between Ireland, Northern Ireland and Scotland.

Additional information

Small companies exemption - The report of the directors has been prepared taking advantage of the small companies exemptions of Section 415A of the Companies Act 2006.



Directors

The directors shown below have held office during the whole of the period from
1 June 2023 to 31 May 2024

James T Horton
Martin G McBride
Judith A O'Leary
Brigid Whoriskey


The director shown below has held office during the period of
1 June 2023 to 31 March 2024

Eugene P Mullan


Secretary James T Horton

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
10 January 2025

And signed on behalf of the board by:
Name: James T Horton
Status: Secretary

CAUSEWAY BUSINESS EXCHANGE LTD

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 19 131
Total fixed assets: 19 131
Current assets
Debtors: 4 24,057 6,627
Cash at bank and in hand: 12,756 11,461
Total current assets: 36,813 18,088
Creditors: amounts falling due within one year: 5 ( 24,250 ) ( 2,562 )
Net current assets (liabilities): 12,563 15,526
Total assets less current liabilities: 12,582 15,657
Total net assets (liabilities): 12,582 15,657
Members' funds
Profit and loss account: 12,582 15,657
Total members' funds: 12,582 15,657

The notes form part of these financial statements

CAUSEWAY BUSINESS EXCHANGE LTD

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 10 January 2025
and signed on behalf of the board by:

Name: James T Horton
Status: Director

The notes form part of these financial statements

CAUSEWAY BUSINESS EXCHANGE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Tangible fixed assets depreciation policy

    Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Office equipment - 25% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

    Other accounting policies

    Accounting convention The financial statements are presented in sterling and this is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £ (GBP). Going concern After reviewing the company's forecasts and projections at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis of accounting in preparing its financial statements. Government grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. Grants of £5,000 were received from each of the Irish and Scottish governments during the year (total governmental grant income of £10,000). Taxation In the opinion of the directors, the company is a not-for-profit organisation and exempt from tax in respect of its mutual activities with members. Company limited by guarantee and members' liability Causeway Business Exchange Limited is incorporated as a company limited by guarantee and does not have a share capital. The liability of each member of the company is limited to £1 (GBP) in the event of it being wound up. Related party transactions The directors are of the opinion that all related party transactions are conducted under normal market conditions and on an arm's length basis and don't therefore need to be disclosed under FRS 102 section 1A appendix C.

CAUSEWAY BUSINESS EXCHANGE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 6

CAUSEWAY BUSINESS EXCHANGE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 1,070 1,070
Additions
Disposals
Revaluations
Transfers
At 31 May 2024 1,070 1,070
Depreciation
At 1 June 2023 939 939
Charge for year 112 112
On disposals
Other adjustments
At 31 May 2024 1,051 1,051
Net book value
At 31 May 2024 19 19
At 31 May 2023 131 131

CAUSEWAY BUSINESS EXCHANGE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Debtors

2024 2023
£ £
Trade debtors 15,794
Prepayments and accrued income 7,790
Other debtors 473 6,627
Total 24,057 6,627

CAUSEWAY BUSINESS EXCHANGE LTD

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 22,750
Taxation and social security 2
Accruals and deferred income 1,500
Other creditors 2,560
Total 24,250 2,562