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Clonallon Contracts Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2025



Clonallon Contracts Ltd
ABRIDGED PROFIT AND LOSS ACCOUNT
for the financial year ended 31 March 2025
2025 2024
Notes £ £

Gross profit 458,892 121,964
 
Administrative expenses (162,130) (95,433)
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Operating profit 296,762 26,531
 
Interest payable and similar expenses (30,791) (19,462)
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Profit before taxation 265,971 7,069
 
Tax on profit (67,030) (5,114)
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Profit for the financial year 198,941 1,955
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Total comprehensive income 198,941 1,955
    ═════════   ═════════



Clonallon Contracts Ltd
Company Registration Number: NI688318
ABRIDGED BALANCE SHEET
as at 31 March 2025

2025 2024
Notes £ £
 
Fixed Assets
Tangible assets 4 517,397 435,967
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Current Assets
Stocks 131,259 25,471
Debtors 304,653 142,496
Cash and cash equivalents 58,555 48,610
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494,467 216,577
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Creditors: amounts falling due within one year (315,668) (156,775)
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Net Current Assets 178,799 59,802
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Total Assets less Current Liabilities 696,196 495,769
 
Creditors:
amounts falling due after more than one year (353,380) (372,965)
 
Provisions for liabilities (128,580) (107,509)
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Net Assets 214,236 15,295
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Capital and Reserves
Called up share capital 2 2
Retained earnings 214,234 15,293
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Equity attributable to owners of the company 214,236 15,295
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Director's Report.
For the financial year ended 31 March 2025 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 their 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 8 April 2025
           
           
________________________________          
Claire McCullough          
Director          
           



Clonallon Contracts Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2025

   
1. General Information
 
Clonallon Contracts Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI688318. The registered office of the company is. Construction 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 financial year ended 31 March 2025 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.
 
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:
 
  Plant and machinery - 10% Reducing balance
  Fixtures, fittings and equipment - 25% Reducing balance
  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
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other 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.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
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 6, (2024 - 3).
 
  2025 2024
  Number Number
 
Employees 6 3
  ═════════ ═════════
           
4. Tangible assets
  Plant and Fixtures, Motor Total
  machinery fittings and vehicles  
    equipment    
  £ £ £ £
Cost
At 1 April 2024 453,125 1,180 18,180 472,485
Additions 11,382 1,978 123,000 136,360
  ───────── ───────── ───────── ─────────
At 31 March 2025 464,507 3,158 141,180 608,845
  ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2024 31,826 147 4,545 36,518
Charge for the financial year 43,268 753 10,909 54,930
  ───────── ───────── ───────── ─────────
At 31 March 2025 75,094 900 15,454 91,448
  ───────── ───────── ───────── ─────────
Net book value
At 31 March 2025 389,413 2,258 125,726 517,397
  ═════════ ═════════ ═════════ ═════════
At 31 March 2024 421,299 1,033 13,635 435,967
  ═════════ ═════════ ═════════ ═════════
           
4.1. Tangible assets continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2025   2024  
  Net Depreciation Net Depreciation
  book value charge book value charge
  £ £ £ £
 
Plant and machinery 377,369 41,930 419,299 31,826
Motor vehicles 115,500 7,500 - -
  ───────── ───────── ───────── ─────────
  492,869 49,430 419,299 31,826
  ═════════ ═════════ ═════════ ═════════
   
5. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.