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Registration number: NI011469

Cairn Delivery Service Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Cairn Delivery Service Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Cairn Delivery Service Limited

Company Information

Directors

Mr Michael Dooey

Mr Colm Dooey

Mr Kevin Dooey

Registered office

57 Bellaghy Road
Dunloy
Ballymena
Co Antrim
BT44 9DY

Accountants

J A Mc Clements & Co
Accountant
13 Ballymena Business Centre
Galgorm
Ballymena
Co Antrim
BT42 1FL

 

Cairn Delivery Service Limited

(Registration number: NI011469)
Balance Sheet as at 30 June 2024

Note

30 June
2024
£

30 June
2023
£

Fixed assets

 

Tangible assets

4

118,652

46,820

Investments

5

35,000

35,000

Other financial assets

6

37,290

37,290

 

190,942

119,110

Current assets

 

Stocks

7

2,745

3,250

Debtors

8

1,502,490

1,100,261

Cash at bank and in hand

 

94,843

154,350

 

1,600,078

1,257,861

Creditors: Amounts falling due within one year

9

(1,456,048)

(1,293,686)

Net current assets/(liabilities)

 

144,030

(35,825)

Total assets less current liabilities

 

334,972

83,285

Creditors: Amounts falling due after more than one year

9

(27,848)

(38,496)

Provisions for liabilities

(66,583)

(6,583)

Net assets

 

240,541

38,206

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

240,441

38,106

Shareholders' funds

 

240,541

38,206

For the financial year ending 30 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 accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Cairn Delivery Service Limited

(Registration number: NI011469)
Balance Sheet as at 30 June 2024

Approved and authorised by the Board on 25 March 2025 and signed on its behalf by:
 

.........................................
Mr Michael Dooey
Director

.........................................
Mr Colm Dooey
Director

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
57 Bellaghy Road
Dunloy
Ballymena
Co Antrim
BT44 9DY
Northern Ireland

The principal place of business is:
Unit F1 Enkalon Ind Estate
25 Randalstown Road
Antrim
Co Antrim
BT41 4LJ
Northern Ireland

These financial statements were authorised for issue by the Board on 25 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Straight Line

Fixtures Fittings and Equipment

20% Straight Line

Motor Vehicles

20% Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Amortisation

Asset class

Amortisation method and rate

Investment

20% Straight Line

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2023 - 37).

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Cost or valuation

At 1 July 2023

16,200

16,141

617,866

77,821

Additions

-

3,074

108,250

-

At 30 June 2024

16,200

19,215

726,116

77,821

Depreciation

At 1 July 2023

-

15,831

587,556

77,821

Charge for the year

-

804

38,688

-

At 30 June 2024

-

16,635

626,244

77,821

Carrying amount

At 30 June 2024

16,200

2,580

99,872

-

At 30 June 2023

16,200

310

30,310

-

Total
£

Cost or valuation

At 1 July 2023

728,028

Additions

111,324

At 30 June 2024

839,352

Depreciation

At 1 July 2023

681,208

Charge for the year

39,492

At 30 June 2024

720,700

Carrying amount

At 30 June 2024

118,652

At 30 June 2023

46,820

Included within the net book value of land and buildings above is £16,200 (2023 - £16,200) in respect of freehold land and buildings.
 

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Investments

30 June
2024
£

30 June
2023
£

Investments in associates

35,000

35,000

Associates

£

Cost

At 1 July 2023

35,000

Provision

Carrying amount

At 30 June 2024

35,000

At 30 June 2023

35,000

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Other financial assets (current and non-current)

Derivatives used for hedging
£

Total
£

Non-current financial assets

Cost or valuation

At 1 July 2023

37,290

37,290

At 30 June 2024

37,290

37,290

Impairment

Carrying amount

At 30 June 2024

37,290

37,290

7

Stocks

30 June
2024
£

30 June
2023
£

Other inventories

2,745

3,250

8

Debtors

Current

30 June
2024
£

30 June
2023
£

Trade debtors

1,483,698

1,131,418

Prepayments

58,883

76,536

Other debtors

(40,091)

(107,693)

 

1,502,490

1,100,261

9

Creditors

Creditors: amounts falling due within one year

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Note

30 June
2024
£

30 June
2023
£

Due within one year

 

Loans and borrowings

11

407,532

407,733

Trade creditors

 

777,368

500,879

Taxation and social security

 

251,174

310,960

Accruals and deferred income

 

2,200

2,200

Other creditors

 

17,774

71,914

 

1,456,048

1,293,686

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Creditors: amounts falling due after more than one year

Note

30 June
2024
£

30 June
2023
£

Due after one year

 

Loans and borrowings

11

27,848

38,496

10

Share capital

Allotted, called up and fully paid shares

30 June
2024

30 June
2023

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100

       

11

Loans and borrowings

Non-current loans and borrowings

30 June
2024
£

30 June
2023
£

Bank borrowings

23,848

34,496

Hire purchase contracts

4,000

4,000

27,848

38,496

Current loans and borrowings

30 June
2024
£

30 June
2023
£

Other borrowings

407,532

407,733

12

Related party transactions

 

Cairn Delivery Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

77,610

57,258