Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true2023-07-01falseRepair and sale of commercial vehicles1010trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false NI015005 2023-07-01 2024-06-30 NI015005 2022-07-01 2023-06-30 NI015005 2024-06-30 NI015005 2023-06-30 NI015005 c:Director1 2023-07-01 2024-06-30 NI015005 d:PlantMachinery 2023-07-01 2024-06-30 NI015005 d:PlantMachinery 2024-06-30 NI015005 d:PlantMachinery 2023-06-30 NI015005 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI015005 d:MotorVehicles 2023-07-01 2024-06-30 NI015005 d:MotorVehicles 2024-06-30 NI015005 d:MotorVehicles 2023-06-30 NI015005 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI015005 d:FurnitureFittings 2023-07-01 2024-06-30 NI015005 d:FurnitureFittings 2024-06-30 NI015005 d:FurnitureFittings 2023-06-30 NI015005 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI015005 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 NI015005 d:CurrentFinancialInstruments 2024-06-30 NI015005 d:CurrentFinancialInstruments 2023-06-30 NI015005 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 NI015005 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 NI015005 d:ShareCapital 2024-06-30 NI015005 d:ShareCapital 2023-06-30 NI015005 d:CapitalRedemptionReserve 2024-06-30 NI015005 d:CapitalRedemptionReserve 2023-06-30 NI015005 d:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 NI015005 d:RetainedEarningsAccumulatedLosses 2024-06-30 NI015005 d:RetainedEarningsAccumulatedLosses 2023-06-30 NI015005 c:OrdinaryShareClass1 2023-07-01 2024-06-30 NI015005 c:OrdinaryShareClass1 2024-06-30 NI015005 c:OrdinaryShareClass1 2023-06-30 NI015005 c:OrdinaryShareClass2 2023-07-01 2024-06-30 NI015005 c:OrdinaryShareClass2 2024-06-30 NI015005 c:OrdinaryShareClass2 2023-06-30 NI015005 c:OrdinaryShareClass3 2023-07-01 2024-06-30 NI015005 c:OrdinaryShareClass3 2024-06-30 NI015005 c:OrdinaryShareClass3 2023-06-30 NI015005 c:OrdinaryShareClass4 2023-07-01 2024-06-30 NI015005 c:OrdinaryShareClass4 2024-06-30 NI015005 c:OrdinaryShareClass4 2023-06-30 NI015005 c:OrdinaryShareClass5 2023-07-01 2024-06-30 NI015005 c:OrdinaryShareClass5 2024-06-30 NI015005 c:OrdinaryShareClass5 2023-06-30 NI015005 c:FRS102 2023-07-01 2024-06-30 NI015005 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 NI015005 c:FullAccounts 2023-07-01 2024-06-30 NI015005 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 NI015005 e:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI015005










CASTLEREAGH MOTORS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
CASTLEREAGH MOTORS LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 8


 
CASTLEREAGH MOTORS LIMITED
REGISTERED NUMBER: NI015005

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
70,423
57,393

  
70,423
57,393

Current assets
  

Stocks
 5 
70,000
146,000

Debtors: amounts falling due within one year
 6 
101,906
513,791

Cash at bank and in hand
 7 
440,359
105,493

  
612,265
765,284

Creditors: amounts falling due within one year
 8 
(172,797)
(339,033)

Net current assets
  
 
 
439,468
 
 
426,251

Total assets less current liabilities
  
509,891
483,644

  

Net assets
  
509,891
483,644


Capital and reserves
  

Called up share capital 
 9 
200
200

Capital redemption reserve
 10 
2,950
2,950

Profit and loss account
 10 
506,741
480,494

  
509,891
483,644


Page 1

 
CASTLEREAGH MOTORS LIMITED
REGISTERED NUMBER: NI015005

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 February 2025.


John J Tolerton
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Castlereagh Motors Limited is a private company, limited by shares, incorporated in Northern Ireland with Company Registration Number NI015005.  The registered office is situated at Cedarhurst Works, Beechill Road, Newtownbreda, Belfast, Co. Antrim, BT8 7RH. The principal activity of the company continued to be the repair and sale of commercial vehicles.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
20%
Straight Line
Motor vehicles
-
25%
Straight Line
Fixtures & fittings
-
20%
Straight Line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 5

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 July 2023
47,900
127,536
33,435
208,871


Additions
-
42,500
1,381
43,881


Disposals
-
(29,421)
-
(29,421)



At 30 June 2024

47,900
140,615
34,816
223,331



Depreciation


At 1 July 2023
10,825
109,429
31,223
151,477


Charge for the year on owned assets
8,450
10,548
821
19,819


Disposals
-
(18,388)
-
(18,388)



At 30 June 2024

19,275
101,589
32,044
152,908



Net book value



At 30 June 2024
28,625
39,026
2,772
70,423



At 30 June 2023
37,075
18,107
2,211
57,393


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
70,000
146,000

70,000
146,000


Page 6

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
98,048
511,558

Called up share capital not paid
150
150

Prepayments and accrued income
3,708
2,083

101,906
513,791



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
440,359
105,493

440,359
105,493



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
86,227
111,827

Corporation tax
27,831
38,227

Other taxation and social security
31,539
62,678

Accruals and deferred income
27,200
126,301

172,797
339,033


2024
2023
£
£

Other taxation and social security

VAT control
31,539
62,678

31,539
62,678


Page 7

 
CASTLEREAGH MOTORS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,999 (2023 - 1,999) Ordinary A shares of £0.01 each
19.99
19.99
2,000 (2023 - 2,000) Ordinary B shares of £0.01 each
20.00
20.00
14,000 (2023 - 14,000) Ordinary C shares of £0.01 each
140.00
140.00
1,000 (2023 - 1,000) Ordinary D shares of £0.01 each
10.00
10.00
1,000 (2023 - 1,000) Ordinary E shares of £0.01 each
10.00
10.00
1 (2023 - 1) Ordinary F share of £0.01
0.01
0.01

200.00

200.00



10.


Reserves

Profit & loss account

The profit and loss account is a fully distributable reserve and includes all current and prior year retained profits and losses.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £48,008 (2023 - £28,613). Contributions totalling £Nil (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


Page 8