Acorah Software Products - Accounts Production 16.2.850 false true 31 March 2024 1 November 2022 false 16 April 2025 1 April 2024 31 July 2024 31 July 2024 NI682378 Mr Samuel McIlroy Mr David McIlroy Mr Alan Sproule Mr Franklin McIlroy Mr Daniel McIlroy RTU Limited Monkstown Industrial Estate Cloughfern Avenue BT37 0UZ true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI682378 2024-03-31 NI682378 2024-07-31 NI682378 2024-04-01 2024-07-31 NI682378 frs-core:CurrentFinancialInstruments 2024-07-31 NI682378 frs-core:ComputerEquipment 2024-07-31 NI682378 frs-core:ComputerEquipment 2024-04-01 2024-07-31 NI682378 frs-core:ComputerEquipment 2024-03-31 NI682378 frs-core:MotorVehicles 2024-07-31 NI682378 frs-core:MotorVehicles 2024-04-01 2024-07-31 NI682378 frs-core:MotorVehicles 2024-03-31 NI682378 frs-core:PlantMachinery 2024-07-31 NI682378 frs-core:PlantMachinery 2024-04-01 2024-07-31 NI682378 frs-core:PlantMachinery 2024-03-31 NI682378 frs-core:SharePremium 2024-07-31 NI682378 frs-core:ShareCapital 2024-07-31 NI682378 frs-core:RetainedEarningsAccumulatedLosses 2024-07-31 NI682378 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2024-07-31 NI682378 frs-bus:FilletedAccounts 2024-04-01 2024-07-31 NI682378 frs-bus:SmallEntities 2024-04-01 2024-07-31 NI682378 frs-bus:Audited 2024-04-01 2024-07-31 NI682378 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2024-07-31 NI682378 1 2024-04-01 2024-07-31 NI682378 frs-bus:Director1 2024-04-01 2024-07-31 NI682378 frs-bus:Director2 2024-04-01 2024-07-31 NI682378 frs-bus:Director3 2024-04-01 2024-07-31 NI682378 frs-bus:Director4 2024-04-01 2024-07-31 NI682378 frs-bus:Director5 2024-04-01 2024-07-31 NI682378 frs-countries:NorthernIreland 2024-04-01 2024-07-31 NI682378 2022-10-31 NI682378 2024-03-31 NI682378 2022-11-01 2024-03-31 NI682378 frs-core:CurrentFinancialInstruments 2024-03-31 NI682378 frs-core:SharePremium 2024-03-31 NI682378 frs-core:ShareCapital 2024-03-31 NI682378 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: NI682378
Colinwell Masonry Products Limited
Financial Statements
For the Period 1 April 2024 to 31 July 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—4
Page 1
Balance Sheet
Registered number: NI682378
31 July 2024 31 March 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 612,817 658,793
612,817 658,793
CURRENT ASSETS
Stocks 5 226,813 303,598
Debtors 6 2,197,800 1,193,233
Cash at bank and in hand 234,485 668,710
2,659,098 2,165,541
Creditors: Amounts Falling Due Within One Year 7 (867,271 ) (650,668 )
NET CURRENT ASSETS (LIABILITIES) 1,791,827 1,514,873
TOTAL ASSETS LESS CURRENT LIABILITIES 2,404,644 2,173,666
PROVISIONS FOR LIABILITIES
Deferred Taxation (147,789 ) (158,935 )
NET ASSETS 2,256,855 2,014,731
CAPITAL AND RESERVES
Called up share capital 8 3 3
Share premium account 1,859,990 1,859,990
Profit and Loss Account 396,862 154,738
SHAREHOLDERS' FUNDS 2,256,855 2,014,731
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Alan Sproule
Director
Mr Franklin McIlroy
Director
16 April 2025
The notes on pages 2 to 4 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Colinwell Masonry Products Limited is a private company, limited by shares, incorporated in Northern Ireland, registered number NI682378 . The registered office is 37 Colinglen Road, Dunmurry, Belfast, BT17 0LP. The company period has been shortened to coincide with the parent company. The comparative figures represent a long period from 01 November 2022 to 31 March 2024 and are not entirely comparable.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling which is the functional currency of the entity rounded to the nearest pound.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10 -33 % straight line
Motor Vehicles 25 -33 % straight line
Computer Equipment 33- 52 % straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
Cost is determined using the first-in, first-out method. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. Debtors and creditors (Receivables / Payables) within one year
Debtors and creditors with no stated interest rate are receivable or payable within one year are recorded at transactional price. Any losses arising from the impairment are recognised in the profit and loss account in other administrative expenses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 16 (2024: 17)
16 17
4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 April 2024 960,569 146,470 9,984 1,117,023
Disposals (3,430 ) - - (3,430 )
As at 31 July 2024 957,139 146,470 9,984 1,113,593
Depreciation
As at 1 April 2024 448,744 7,084 2,402 458,230
Provided during the period 28,454 12,873 1,219 42,546
As at 31 July 2024 477,198 19,957 3,621 500,776
Net Book Value
As at 31 July 2024 479,941 126,513 6,363 612,817
As at 1 April 2024 511,825 139,386 7,582 658,793
5. Stocks
31 July 2024 31 March 2024
£ £
Stock 226,813 303,598
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Page 4
6. Debtors
31 July 2024 31 March 2024
£ £
Due within one year
Trade debtors 469,394 575,304
Amounts owed by group undertakings 1,672,614 575,000
Other debtors 55,792 42,929
2,197,800 1,193,233
7. Creditors: Amounts Falling Due Within One Year
31 July 2024 31 March 2024
£ £
Trade creditors 435,708 340,852
Other creditors 49,073 82,780
Taxation and social security 382,490 227,036
867,271 650,668
8. Share Capital
31 July 2024 31 March 2024
£ £
Allotted, Called up and fully paid 3 3
9. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
10. Ultimate Parent Undertaking and Controlling Party
The company's immediate  parent undertaking is Colinwell Masonry Products Holdings Limited . Colinwell Masonry Products Holdings Limited was incorporated in Northen Ireland. Copies of the group accounts may be obtained from the secretary, Monkstown Industrial Estate Cloughfern Avenue BT37 0UZ . The ultimate controlling party is RTU Limited who controls 100% of the shares of Colinwell Masonry Products Limited .
11. Audit Information
The auditor's report on the accounts of Colinwell Masonry Products Limited for the period ended 31 July 2024 was unqualified.
The auditors emphasised the following matter without qualifying their report:
The comparative figures are unaudited as this is the first period that is included in the RTU Group accounts.
The auditor's report was signed by Eunan Kerlin (Senior Statutory Auditor) for and on behalf of KGA Accountants LLP , Statutory Auditor.
KGA Accountants LLP
Building 2, The Sidings
Antrim Road
Lisburn
Co. Antrim
BT28 3AJ
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