18 20 S C Developments (Ireland) Limited NI071574 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is construction services Digita Accounts Production Advanced 6.30.9574.0 true NI071574 2023-02-01 2024-01-31 NI071574 2024-01-31 NI071574 bus:OrdinaryShareClass1 2024-01-31 NI071574 core:CurrentFinancialInstruments 2024-01-31 NI071574 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 NI071574 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 NI071574 core:Goodwill 2024-01-31 NI071574 core:FurnitureFittingsToolsEquipment 2024-01-31 NI071574 core:LandBuildings 2024-01-31 NI071574 core:MotorVehicles 2024-01-31 NI071574 core:OtherPropertyPlantEquipment 2024-01-31 NI071574 bus:SmallEntities 2023-02-01 2024-01-31 NI071574 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 NI071574 bus:FilletedAccounts 2023-02-01 2024-01-31 NI071574 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 NI071574 bus:RegisteredOffice 2023-02-01 2024-01-31 NI071574 bus:Director1 2023-02-01 2024-01-31 NI071574 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 NI071574 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 NI071574 core:Goodwill 2023-02-01 2024-01-31 NI071574 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 NI071574 core:LandBuildings 2023-02-01 2024-01-31 NI071574 core:MotorVehicles 2023-02-01 2024-01-31 NI071574 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 NI071574 countries:NorthernIreland 2023-02-01 2024-01-31 NI071574 2023-01-31 NI071574 core:Goodwill 2023-01-31 NI071574 core:FurnitureFittingsToolsEquipment 2023-01-31 NI071574 core:LandBuildings 2023-01-31 NI071574 core:MotorVehicles 2023-01-31 NI071574 core:OtherPropertyPlantEquipment 2023-01-31 NI071574 2022-02-01 2023-01-31 NI071574 2023-01-31 NI071574 bus:OrdinaryShareClass1 2023-01-31 NI071574 core:CurrentFinancialInstruments 2023-01-31 NI071574 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 NI071574 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 NI071574 core:FurnitureFittingsToolsEquipment 2023-01-31 NI071574 core:LandBuildings 2023-01-31 NI071574 core:MotorVehicles 2023-01-31 NI071574 core:OtherPropertyPlantEquipment 2023-01-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI071574

S C Developments (Ireland) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

S C Developments (Ireland) Limited

(Registration number: NI071574)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

772,769

633,749

Current assets

 

Stocks

6

162,000

216,000

Debtors

7

285,590

231,575

Cash at bank and in hand

 

202,877

232,424

 

650,467

679,999

Creditors: Amounts falling due within one year

8

(541,261)

(735,312)

Net current assets/(liabilities)

 

109,206

(55,313)

Total assets less current liabilities

 

881,975

578,436

Creditors: Amounts falling due after more than one year

8

(362,525)

(164,653)

Provisions for liabilities

-

(41,100)

Net assets

 

519,450

372,683

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

519,350

372,583

Shareholders' funds

 

519,450

372,683

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

Director's 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 director acknowledges 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

S C Developments (Ireland) Limited

(Registration number: NI071574)
Balance Sheet as at 31 January 2024

Approved and authorised by the director on 11 April 2025
 

.........................................
Stephen Chapman
Director

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 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: 59 Moss Road, Carryduff, BT8 8HX.

These financial statements were authorised for issue by the director on 11 April 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.

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Stock and work in progress

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.

Borrowings

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.

Leases

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 18 (2023 - 20).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 February 2023

87,000

87,000

At 31 January 2024

87,000

87,000

Amortisation

At 1 February 2023

87,000

87,000

At 31 January 2024

87,000

87,000

Carrying amount

At 31 January 2024

-

-

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2023

264,000

12,891

374,225

357,222

1,008,338

Additions

116,928

-

142,230

17,000

276,158

Disposals

-

-

(116,981)

-

(116,981)

At 31 January 2024

380,928

12,891

399,474

374,222

1,167,515

Depreciation

At 1 February 2023

-

9,429

109,897

255,263

374,589

Charge for the year

-

866

44,274

4,767

49,907

Eliminated on disposal

-

-

(29,750)

-

(29,750)

At 31 January 2024

-

10,295

124,421

260,030

394,746

Carrying amount

At 31 January 2024

380,928

2,596

275,053

114,192

772,769

At 31 January 2023

264,000

3,462

264,328

101,959

633,749

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Stock and work in progress

2024
£

2023
£

Work in progress

162,000

216,000

7

Debtors

Current

2024
£

2023
£

Other debtors

285,590

231,575

 

285,590

231,575

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

59,887

64,635

Trade creditors

 

332,751

329,168

Taxation and social security

 

132,898

311,386

Accruals

 

15,725

14,224

Other creditors

 

-

15,899

 

541,261

735,312

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

362,525

164,653

 

S C Developments (Ireland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

10

Related party transactions

Included is other debtors is the following amount due from the director at the year end:-

 

2024
 £

2023
 £

Directors current account

141,062

163,944