REGISTERED NUMBER: NI607444 (Northern Ireland)

Financial Statements for the Year Ended 31 December 2024

for

Castlederg Building Supplies Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S Lowry

REGISTERED OFFICE:

30 Carncorn Road

Castlederg

Co. Tyrone

BT81 7RH

REGISTERED NUMBER:

NI607444 (Northern Ireland)

ACCOUNTANTS:

Tyrone Accountancy Services

8-10 Church Street

Omagh

Co. Tyrone

BT78 1DG

FIXED ASSETS

Tangible assets

4

9,429

11,795

CURRENT ASSETS

Stocks

352,500

373,920

Debtors

5

283,368

279,687

Cash at bank

10,416

12,634

646,284

666,241

CREDITORS

Amounts falling due within one year

6

624,241

646,640

NET CURRENT ASSETS

22,043

19,601

TOTAL ASSETS LESS CURRENT LIABILITIES

31,472

31,396

CREDITORS

Amounts falling due after more than one year

7

(4,673

)

(15,962

)

PROVISIONS FOR LIABILITIES

8

(1,794

)

-

NET ASSETS

25,005

15,434

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

25,004

15,433

25,005

15,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

S Lowry - Director

1.	STATUTORY INFORMATION

Castlederg Building Supplies Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

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 20% reducing balance

Fixtures, fittings, tools and equipment 25% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classes as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 January 2024

and 31 December 2024

59,000

2,400

61,400

DEPRECIATION

At 1 January 2024

47,340

2,265

49,605

Charge for year

2,332

34

2,366

At 31 December 2024

49,672

2,299

51,971

NET BOOK VALUE

At 31 December 2024

9,328

101

9,429

At 31 December 2023

11,660

135

11,795

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

282,539

279,627

Other debtors

829

60

283,368

279,687

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,152

9,903

Trade creditors

574,680

602,122

Taxation and social security

17,084

10,003

Other creditors

22,325

24,612

624,241

646,640

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,673

15,962

8.	PROVISIONS FOR LIABILITIES

31.12.24

£

Deferred tax

1,794

Deferred

tax

£

Balance at 1 January 2024

(60

)

Charge to Income Statement during year

1,854

Balance at 31 December 2024

1,794

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

There were no transactions with the director during the year. The balance owed to the directors at the year end remained £18,374.