Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312025-05-16false2023-11-01false2continues to be that of the contruction of domestic buildings.2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05609372 2023-11-01 2024-10-31 05609372 2022-11-01 2023-10-31 05609372 2024-10-31 05609372 2023-10-31 05609372 c:Director1 2023-11-01 2024-10-31 05609372 d:MotorVehicles 2023-11-01 2024-10-31 05609372 d:MotorVehicles 2024-10-31 05609372 d:MotorVehicles 2023-10-31 05609372 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05609372 d:FurnitureFittings 2023-11-01 2024-10-31 05609372 d:OfficeEquipment 2024-10-31 05609372 d:OfficeEquipment 2023-10-31 05609372 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05609372 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 05609372 d:CurrentFinancialInstruments 2024-10-31 05609372 d:CurrentFinancialInstruments 2023-10-31 05609372 d:Non-currentFinancialInstruments 2024-10-31 05609372 d:Non-currentFinancialInstruments 2023-10-31 05609372 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 05609372 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 05609372 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 05609372 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 05609372 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 05609372 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 05609372 d:ShareCapital 2024-10-31 05609372 d:ShareCapital 2023-10-31 05609372 d:RetainedEarningsAccumulatedLosses 2024-10-31 05609372 d:RetainedEarningsAccumulatedLosses 2023-10-31 05609372 c:OrdinaryShareClass1 2023-11-01 2024-10-31 05609372 c:OrdinaryShareClass1 2024-10-31 05609372 c:OrdinaryShareClass1 2023-10-31 05609372 c:FRS102 2023-11-01 2024-10-31 05609372 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 05609372 c:FullAccounts 2023-11-01 2024-10-31 05609372 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 05609372 d:TaxLossesCarry-forwardsDeferredTax 2024-10-31 05609372 d:TaxLossesCarry-forwardsDeferredTax 2023-10-31 05609372 2 2023-11-01 2024-10-31 05609372 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05609372









O'NEILL CONSTRUCTION GROUP LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2024

 
O'NEILL CONSTRUCTION GROUP LIMITED
REGISTERED NUMBER: 05609372

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,842
5,123

  
3,842
5,123

Current assets
  

Stocks
  
153,872
76,904

Debtors: amounts falling due within one year
 5 
8,271
14,172

Cash at bank and in hand
  
43,416
9,845

  
205,559
100,921

Creditors: amounts falling due within one year
 6 
(58,271)
(32,981)

Net current assets
  
 
 
147,288
 
 
67,940

Total assets less current liabilities
  
151,130
73,063

Creditors: amounts falling due after more than one year
 7 
(176,893)
(87,175)

  

Net liabilities
  
(25,763)
(14,112)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
(25,765)
(14,114)

  
(25,763)
(14,112)


Page 1

 
O'NEILL CONSTRUCTION GROUP LIMITED
REGISTERED NUMBER: 05609372
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 May 2025.




Desmond Patrick O'Neill
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

The company is registered in England and Wales. The company's registered office is Stanley House, 27, Wellington, Road, Bilston, West Midlands, WV14 6AH. The principal activity of the company continues to be that of the Construction of domestic buildings.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 5

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
6,250
1,433
7,683



At 31 October 2024

6,250
1,433
7,683



Depreciation


At 1 November 2023
1,172
1,388
2,560


Charge for the year on owned assets
1,270
11
1,281



At 31 October 2024

2,442
1,399
3,841



Net book value



At 31 October 2024
3,808
34
3,842



At 31 October 2023
5,078
45
5,123

Page 6

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Debtors

2024
2023
£
£


Prepayments and accrued income
91
91

Tax recoverable
-
8,638

Deferred taxation
8,180
5,443

8,271
14,172



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,336
10,081

Trade creditors
23,575
17,777

Other taxation and social security
1,801
219

Other creditors
20,309
2,654

Accruals and deferred income
2,250
2,250

58,271
32,981



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,893
17,175

Other creditors
170,000
70,000

176,893
87,175


Page 7

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,336
10,081


10,336
10,081

Amounts falling due 1-2 years

Bank loans
6,893
17,175


6,893
17,175



17,229
27,256



9.


Deferred taxation




2024


£






At beginning of year
5,443


Credited to profit or loss
2,737



At end of year
8,180

The deferred tax asset is made up as follows:

2024
2023
£
£


Tax losses carried forward
8,180
5,443

8,180
5,443

Page 8

 
O'NEILL CONSTRUCTION GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) ordinary shares of £1.00 each
2
2



11.


Controlling party

The controlling interest in the company is held between Desmond Patrick O'Neill and Patricia Ellenor
O'Neill.

 
Page 9