Registered number
NI647290
Building Completion Testing Services Ltd
Filleted Accounts
30 September 2024
Building Completion Testing Services Ltd
Registered number: NI647290
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 156,043 138,451
Current assets
Debtors 5 259,757 252,067
Cash at bank and in hand 244,358 102,428
504,115 354,495
Creditors: amounts falling due within one year 6 (162,340) (109,763)
Net current assets 341,775 244,732
Total assets less current liabilities 497,818 383,183
Creditors: amounts falling due after more than one year 7 (5,556) (8,889)
Net assets 492,262 374,294
Capital and reserves
Called up share capital 2 2
Share premium 18,278 18,278
Profit and loss account 473,982 356,014
Shareholder's funds 492,262 374,294
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Brian Cunningham
Director
Approved by the board on 18 June 2025
Building Completion Testing Services Ltd
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15% Straight line
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates. Revenue grants are recognised in the profit and loss account when recieved.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 10,000
At 30 September 2024 10,000
Amortisation
At 1 October 2023 10,000
At 30 September 2024 10,000
Net book value
At 30 September 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 201,668 44,580 246,248
Additions 48,016 5,126 53,142
At 30 September 2024 249,684 49,706 299,390
Depreciation
At 1 October 2023 81,239 26,558 107,797
Charge for the year 30,358 5,192 35,550
At 30 September 2024 111,597 31,750 143,347
Net book value
At 30 September 2024 138,087 17,956 156,043
At 30 September 2023 120,429 18,022 138,451
5 Debtors 2024 2023
£ £
Trade debtors 157,757 239,148
Other debtors 102,000 12,919
259,757 252,067
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,333 3,333
Trade creditors - 10
Taxation and social security costs 152,810 100,729
Other creditors 6,197 5,691
162,340 109,763
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 5,556 8,889
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Brian Cunningham
Loan Repayable June 2025 - 102,000 - 102,000
- 102,000 - 102,000
9 Other information
Building Completion Testing Services Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
122c New Forge Road
Magheralin
Craigavon
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