Company registration number NI063942 (Northern Ireland)
CLARECOLLIN LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CLARECOLLIN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CLARECOLLIN LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
163,611
161,981
Current assets
Stocks
705,916
297,286
Debtors
4
243,123
232,843
Cash at bank and in hand
189,551
79,759
1,138,590
609,888
Creditors: amounts falling due within one year
5
(1,012,845)
(627,018)
Net current assets/(liabilities)
125,745
(17,130)
Total assets less current liabilities
289,356
144,851
Provisions for liabilities
(998)
Net assets
288,358
144,851
Capital and reserves
Called up share capital
100
100
Revaluation reserve
6
43,300
42,858
Profit and loss reserves
244,958
101,893
Total equity
288,358
144,851
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 18 August 2025
D N Birkmyre
Director
Company registration number NI063942 (Northern Ireland)
CLARECOLLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for the rental of residential property, consultancy and sale of motor vehicles.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
1% straight line
Land and buildings Leasehold
1% straight line
Fixtures, fittings & equipment
15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
CLARECOLLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Company information
Clarecollin Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is Clarecolin House, 33 Lower Rashee Road, Ballyclare, Co Antrim, BT39 9JL.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
2
2
CLARECOLLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
165,587
3,550
169,137
Additions
4,026
4,026
At 31 March 2025
165,587
7,576
173,163
Depreciation and impairment
At 1 April 2024
4,515
2,641
7,156
Depreciation charged in the year
1,656
740
2,396
At 31 March 2025
6,171
3,381
9,552
Carrying amount
At 31 March 2025
159,416
4,195
163,611
At 31 March 2024
161,072
909
161,981
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
239,372
170,908
Other debtors
3,751
61,935
243,123
232,843
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
228,849
103,216
Taxation and social security
46,444
9,541
Other creditors
737,552
514,261
1,012,845
627,018
CLARECOLLIN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
6
Revaluation reserve
2025
2024
£
£
At the beginning of the year
42,858
41,027
Transfer to retained earnings
442
1,831
At the end of the year
43,300
42,858
7
Financial commitments, guarantees and contingent liabilities
The directors are not aware of any contingent liabilities.
8
Events after the reporting date
There have been no significant post balance sheet events.