Casey Filling Station Ltd NI616701 false 2023-11-01 2024-10-31 2024-10-31 The principal activity of the company is Retail Sales of Groceries & Fuel Digita Accounts Production Advanced 6.30.9574.0 true NI616701 2023-11-01 2024-10-31 NI616701 2024-10-31 NI616701 bus:Director1 1 2024-10-31 NI616701 bus:Director2 1 2024-10-31 NI616701 core:CurrentFinancialInstruments 2024-10-31 NI616701 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 NI616701 core:Non-currentFinancialInstruments 2024-10-31 NI616701 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 NI616701 core:FurnitureFittingsToolsEquipment 2024-10-31 NI616701 core:LandBuildings 2024-10-31 NI616701 core:OtherPropertyPlantEquipment 2024-10-31 NI616701 bus:SmallEntities 2023-11-01 2024-10-31 NI616701 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 NI616701 bus:FilletedAccounts 2023-11-01 2024-10-31 NI616701 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 NI616701 bus:RegisteredOffice 2023-11-01 2024-10-31 NI616701 bus:Director1 2023-11-01 2024-10-31 NI616701 bus:Director1 1 2023-11-01 2024-10-31 NI616701 bus:Director2 2023-11-01 2024-10-31 NI616701 bus:Director2 1 2023-11-01 2024-10-31 NI616701 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 NI616701 bus:Agent1 2023-11-01 2024-10-31 NI616701 core:Buildings 2023-11-01 2024-10-31 NI616701 core:FurnitureFittings 2023-11-01 2024-10-31 NI616701 core:FurnitureFittingsToolsEquipment 2023-11-01 2024-10-31 NI616701 core:LandBuildings 2023-11-01 2024-10-31 NI616701 core:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 NI616701 core:PlantMachinery 2023-11-01 2024-10-31 NI616701 core:OtherRelatedParties 2023-11-01 2024-10-31 NI616701 countries:NorthernIreland 2023-11-01 2024-10-31 NI616701 2023-10-31 NI616701 bus:Director1 1 2023-10-31 NI616701 bus:Director2 1 2023-10-31 NI616701 core:FurnitureFittingsToolsEquipment 2023-10-31 NI616701 core:LandBuildings 2023-10-31 NI616701 core:OtherPropertyPlantEquipment 2023-10-31 NI616701 2022-11-01 2023-10-31 NI616701 2023-10-31 NI616701 bus:Director1 1 2023-10-31 NI616701 bus:Director2 1 2023-10-31 NI616701 core:CurrentFinancialInstruments 2023-10-31 NI616701 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 NI616701 core:Non-currentFinancialInstruments 2023-10-31 NI616701 core:Non-currentFinancialInstruments core:AfterOneYear 2023-10-31 NI616701 core:FurnitureFittingsToolsEquipment 2023-10-31 NI616701 core:LandBuildings 2023-10-31 NI616701 core:OtherPropertyPlantEquipment 2023-10-31 NI616701 bus:Director1 1 2022-11-01 2023-10-31 NI616701 bus:Director2 1 2022-11-01 2023-10-31 NI616701 bus:Director1 1 2022-10-31 NI616701 bus:Director2 1 2022-10-31 iso4217:GBP xbrli:pure

Registration number: NI616701

Casey Filling Station Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Casey Filling Station Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Casey Filling Station Ltd

Company Information

Directors

Peter Casey

Brian Casey

Registered office

8 Newry Road
Crossmaglen
Newry
County Down
BT35 9HH

Solicitors

Gus Campbell Solicitors
10-12 Carleton Street
Portadown
Armagh
BT62 3EN

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants & Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Casey Filling Station Ltd

(Registration number: NI616701)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

159,181

105,735

Current assets

 

Stocks

5

121,089

87,263

Debtors

6

329,859

300,786

Cash at bank and in hand

 

47,215

65,846

 

498,163

453,895

Creditors: Amounts falling due within one year

7

(316,926)

(182,009)

Net current assets

 

181,237

271,886

Total assets less current liabilities

 

340,418

377,621

Creditors: Amounts falling due after more than one year

7

(78,070)

(97,680)

Provisions for liabilities

(8,545)

(4,706)

Net assets

 

253,803

275,235

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

253,801

275,233

Shareholders' funds

 

253,803

275,235

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

Directors' 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 directors acknowledge 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 July 2025 and signed on its behalf by:
 

.........................................
Brian Casey
Director

   
     
 

Casey Filling Station Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 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:
8 Newry Road
Crossmaglen
Newry
County Down
BT35 9HH
Northern Ireland

The principal place of business is:
61 Concession Road
Culloville
Newry
Down
BT35 9AP

These financial statements were authorised for issue by the Board on 29 July 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.

 

Casey Filling Station Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises 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.

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:

Asset class

Depreciation method and rate

Short Leasehold property

2% Straight Line

Plant & Machinery

25% Reducing Balance

Fixtures & Fittings

20% Reducing Balance

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.

 

Casey Filling Station Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Casey Filling Station Ltd

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 21 (2023 - 21).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

93,000

273,232

81,217

447,449

Additions

-

-

70,378

70,378

At 31 October 2024

93,000

273,232

151,595

517,827

Depreciation

At 1 November 2023

26,040

245,642

70,032

341,714

Charge for the year

1,860

5,518

9,554

16,932

At 31 October 2024

27,900

251,160

79,586

358,646

Carrying amount

At 31 October 2024

65,100

22,072

72,009

159,181

At 31 October 2023

66,960

27,590

11,185

105,735

Included within the net book value of land and buildings above is £65,100 (2023 - £66,960) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

121,089

87,263

 

Casey Filling Station Ltd

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

-

850

Prepayments

13,812

10,504

Other debtors

316,047

289,432

 

329,859

300,786

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

19,240

19,240

Trade creditors

 

283,350

124,150

Taxation and social security

 

3,324

20,670

Accruals and deferred income

 

10,176

10,476

Other creditors

 

836

7,473

 

316,926

182,009

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

78,070

97,680

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share Capital of £1 each

2

2

2

2

       
 

Casey Filling Station Ltd

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

78,070

97,680

Current loans and borrowings

2024
£

2023
£

Other borrowings

19,240

19,240

Other borrowings

Henderson Loan is denominated in £ with a nominal interest rate of 6.5%, and the final instalment is due on 1 December 2029. The carrying amount at year end is £97,310 (2023 - £116,920).

10

Related party transactions

Transactions with directors

2024

At 1 November 2023
£

Advances to director
£

At 31 October 2024
£

Peter Casey

Directors Loan repayable on demand

4,128

357

4,485

Brian Casey

Directors Loan repayable on demand

4,128

357

4,485

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Peter Casey

Directors Loan repayable on demand

-

4,128

4,128

Brian Casey

Directors Loan repayable on demand

-

4,128

4,128

Summary of transactions with other related parties

 

Casey Filling Station Ltd

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

During the year the company had transactions with the following related parties;

Casey Supermarket Limited (common directors and shareholders)
Intercompany loan - At the balance sheet date the amount due from Casey Supermarket Limited was £47,299 (2023 - £23,454)

Coole Oils Limited (common directors and shareholders)
Intercompany loan - At the balance sheet date the amount due to Coole Oils Limited was £nil (2023 - CR £Nil)

Rathcoole Filling Station Limited (common directors and shareholders)
Intercompany loan - At the balance sheet date the amount due from Rathcoole Filling Station Limited was £230,543 (2022 - £229,043)

The above balances are included within other debtors due within one year

During the year the Casey Filling Station Limited sold goods to the following related parties

Casey Supermarket Limited (common directors and shareholders)
The company sold stock to Casey Supermarket Limited. At the balance sheet date the amount due from Casey Supermarket Limited was £850 (2023 - £850).


During the year the company made purchases from the following related parties

Casey Supermarket Limited (common directors and shareholders)
The company purchased stock from Casey Supermarket Limited. At the balance sheet date the amount due to Casey Supermarket Limited was £1,259 (2023 - £1,259).

Coole Oils Limited (common directors and shareholders)
The company purchased stock and fuel from Coole Oils Limited. At the balance sheet date the amount due to Coole Oils Limited was £23,594 (2023 - £23,554).