Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-31 2024-12-31 true Errigal Contracts Group Limited 2024-01-01 false The principal activity of the company contued to be that of distribution and installation of kitchens and related activities.42 44 true false NI002438 2024-01-01 2024-12-31 NI002438 2023-01-01 2023-12-31 NI002438 2024-12-31 NI002438 2023-12-31 NI002438 c:Director1 2024-01-01 2024-12-31 NI002438 d:PlantMachinery 2024-01-01 2024-12-31 NI002438 d:PlantMachinery 2024-12-31 NI002438 d:PlantMachinery 2023-12-31 NI002438 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI002438 d:MotorVehicles 2024-01-01 2024-12-31 NI002438 d:MotorVehicles 2024-12-31 NI002438 d:MotorVehicles 2023-12-31 NI002438 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI002438 d:FurnitureFittings 2024-01-01 2024-12-31 NI002438 d:FurnitureFittings 2024-12-31 NI002438 d:FurnitureFittings 2023-12-31 NI002438 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI002438 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 NI002438 d:CurrentFinancialInstruments 2024-12-31 NI002438 d:CurrentFinancialInstruments 2023-12-31 NI002438 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 NI002438 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI002438 d:ShareCapital 2024-12-31 NI002438 d:ShareCapital 2023-12-31 NI002438 d:RetainedEarningsAccumulatedLosses 2024-12-31 NI002438 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI002438 c:FRS102 2024-01-01 2024-12-31 NI002438 c:Audited 2024-01-01 2024-12-31 NI002438 c:FullAccounts 2024-01-01 2024-12-31 NI002438 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI002438 d:WithinOneYear 2024-12-31 NI002438 d:WithinOneYear 2023-12-31 NI002438 d:BetweenOneFiveYears 2024-12-31 NI002438 d:BetweenOneFiveYears 2023-12-31 NI002438 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI002438 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: NI002438 POTTER COWAN & COMPANY (BELFAST), LIMITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 DECEMBER 2024
POTTER COWAN & COMPANY (BELFAST), LIMITED REGISTERED NUMBER: NI002438 BALANCE SHEET AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 132,114 |  | 137,918
|  |  | 132,114 |  | 137,918
Current assets |  |  |  |  |
Stocks |  | 913,494 |  | 1,410,642 |
Debtors: amounts falling due within one year | 5 | 3,956,531 |  | 3,653,418 |
Cash at bank and in hand | 6 | 189,180 |  | 179,675 |
|  | 5,059,205 |  | 5,243,735 |
Creditors: amounts falling due within one year | 7 | (1,832,285) |  | (1,574,301) |
Net current assets |  |  | 3,226,920 |  | 3,669,434
Total assets less current liabilities |  |  | 3,359,034 |  | 3,807,352
Provisions for liabilities |  |  |  |  |
Deferred tax |  | - |  | (24,759) |
|  |  | - |  | (24,759)
Net assets |  |  | 3,359,034 |  | 3,782,593
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 20,204 |  | 20,204
Profit and loss account |  |  | 3,338,830 |  | 3,762,389
|  |  | 3,359,034 |  | 3,782,593
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 comprehensive income 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 9 September 2025.
Cormac McCloskey
Director
The notes on pages 2 to 7 form part of these financial statements. Page 1
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Potter Cowan & Company (Belfast), Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is 20 Duncrue Crescent, Belfast, Co. Antrim, Northern Ireland, BT3 9BW. 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 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | 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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the company has transferred the significant risks and rewards of ownership to the buyer; ∙the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. 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. Page 2
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.
| 2.7 | 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 balance sheet 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 balance sheet 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 balance sheet date. Page 3
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | 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:
|  |  |  | Plant and machinery | - | 20% | Reducing balance
|  |  |  | Motor vehicles | - | 20% | Reducing balance
|  |  |  | Fixtures and fittings | - | 20% | 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.
| 2.9 | 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 weighted average basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet 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.
| 2.10 | 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.
| 2.11 | 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.
| 2.12 | 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. Page 4
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.13 | 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 42 (2023 - 44).
4. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures and fittings | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 89,341 | 339,734 | 234,980 | 664,055
| Additions | - | 22,556 | 15,333 | 37,889
| Disposals | - | (12,800) | - | (12,800)
| At 31 December 2024 | 89,341 | 349,490 | 250,313 | 689,144
| Depreciation |  |  |  |
| At 1 January 2024 | 84,818 | 263,024 | 178,295 | 526,137
| Charge for the year on owned assets | 905 | 16,195 | 13,793 | 30,893
| At 31 December 2024 | 85,723 | 279,219 | 192,088 | 557,030
| Net book value |  |  |  |
| At 31 December 2024 | 3,618 | 70,271 | 58,225 | 132,114
| At 31 December 2023 | 4,523 | 76,710 | 56,685 | 137,918
Page 5
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 1,233,069 | 1,592,678
| Amounts owed by group undertakings | 2,586,045 | 1,993,616
| Other debtors | 106,310 | 47,868
| Prepayments and accrued income | 31,107 | 19,256
|  | 3,956,531 | 3,653,418
| Amounts owed by group undertakings are unsecured, interest free and repayable on demand.
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 189,180 | 179,675
|  | 189,180 | 179,675
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other loans | 283,587 | 15,084
| Trade creditors | 1,138,880 | 1,135,173
| Amounts owed to group undertakings | 148,628 | 62,832
| Corporation tax | - | 140,591
| Other taxation and social security | 143,808 | 155,317
| Accruals and deferred income | 117,382 | 65,304
|  | 1,832,285 | 1,574,301
| Other loans are secured by way of a fixed and floating charge over the asset of business. Amounts owed to group undertakings are unsecured, interest free and repayable on demand.
8. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,394 (2023 - £16,419). Contributions totalling £11,553 (2023 - £4,448) were payable to the fund at the balance sheet date and are included in creditors. Page 6
POTTER COWAN & COMPANY (BELFAST), LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Commitments under operating leases
| At 31 December 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 235,080 | 266,253
| Later than 1 year and not later than 5 years | 498,521 | 731,003
|  | 733,601 | 997,256
10. | Controlling party
The immediate parent undertaking is Quartz Holdco Limited, a company registered in Northern Ireland. The ultimate parent undertaking of the company is Errigal Contracts Group Limited, a company registered in the Republic of Ireland. The smallest and largest undertaking of which the company is a member, and for which group financial statements are prepared is Errigal Contracts Group Limited, a company incorporated in the Republic of Ireland. Group financial statements for this company are prepared and are available to the public from the company's registered office. Mr Damien Treanor and Mr Cormac McCloskey are considered to be the ultimate controlling parties by virtue of their shareholding in the parent company.
11. | Auditors' information
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified. The audit report was signed on 9 September 2025 by Teresa Campbell (Senior Statutory Auditor) on behalf of AAB Group Accountants Limited.
Page 7