Registered number: NI633870
For the Year Ended 30 September 2024
Crockard ASC Limited
Company Information
Crockard ASC Limited
Contents
Crockard ASC Limited
Strategic Report
For the Year Ended 30 September 2024
The director presents their strategic report and financial statements for the year ended 30 September 2024.
The principal activity for Crockard ASC Limited is providing professional services to the construction and renewables industries.
The directors consider the outcome for the year and the year end financial position to be satisfactory and to have been achieved in a challenging operating environment.
The directors consider the outcome for the year and the year end financial position to be satisfactory and to have been achieved in a challenging operating environment.
The directors consider the key risk and uncertainty affecting the business to be that of foreign exchange as they deal with customers and suppliers in USD, EUR, New Taiwan Dollar and Korean Won. The company mitigate this risk through the use of foreign currency accounts and monitor fluctuations on a regular basis.
The company operates primarily in the construction and renewables sector and anticipates that demand from this sector will continue to increase.
The company operates primarily in the construction and renewables sector and anticipates that demand from this sector will continue to increase.
The directors consider turnover and gross profit to be the main measures of financial performance. During the period, turnover amounted to £9,976,488 (2023: £7,078,175), gross profit amounted to £2,530,139 (2023: £2,248,061). The Company continues to monitor these indicators on a monthly and annual basis.
There are no other key performance indicators utilised by the company.
This report was approved by the board on 5 December 2025 and signed on its behalf.
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Crockard ASC Limited
Directors' Report
For the Year Ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The profit for the year, after taxation, amounted to £676,427 (2023 - £1,011,185).
During the year the directors voted interim dividends of £200,000 (2023 - £170,000). A final dividend has not been proposed.
The directors who served during the year were:
There have been no significant events affecting the Company since the year end.
During the year Sumer Auditco NI Limited were appointed auditors to the company. The auditors will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 5 December 2025 and signed on its behalf.
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Crockard ASC Limited
Directors' Responsibilities Statement
For the Year Ended 30 September 2024
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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Crockard ASC Limited
Independent Auditors' Report to the Members of Crockard ASC Limited
We have audited the financial statements of Crockard ASC Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Analysis of Net Debt, the Balance Sheet, the Statement of Cash Flows, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Other matters
In the prior period the directors of the company took advantage of the audit exemption under s477 of the Companies Act 2006, therefore the comparative financial statements were not subject to audit.
In the prior period the directors of the company took advantage of the audit exemption under s477 of the Companies Act 2006, therefore the comparative financial statements were not subject to audit.
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Crockard ASC Limited
Independent Auditors' Report to the Members of Crockard ASC Limited (continued)
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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Crockard ASC Limited
Independent Auditors' Report to the Members of Crockard ASC Limited (continued)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and
regulations, including fraud. We considered the opportunities and incentives that may exist within the
organisation for fraud and identified the greatest potential for fraud in the posting of unusual journals together
with complex transactions and revenue recognition.
We designed audit procedures to respond to these risks, recognising that the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve
deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. Our
audit procedures included: enquiries of management about their own identification and assessment of risks of
irregularities, sample testing of journals posted during the year and a review of areas of judgement for indicators
of management bias to address the risk, in addition we undertook tests of detail over revenue recognition and the application of cut off at year end.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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Crockard ASC Limited
Independent Auditors' Report to the Members of Crockard ASC Limited (continued)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
6 Murray Street
BT1 6DN
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Crockard ASC Limited
Statement of Comprehensive Income
For the Year Ended 30 September 2024
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Crockard ASC Limited
Registered number: NI633870
Balance Sheet
As at 30 September 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 December 2025 .
The notes on pages 13 to 29 form part of these financial statements.
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Crockard ASC Limited
Statement of Changes in Equity
For the Year Ended 30 September 2024
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Crockard ASC Limited
Statement of Cash Flows
For the Year Ended 30 September 2024
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Crockard ASC Limited
Statement of Cash Flows (continued)
For the Year Ended 30 September 2024
Analysis of Net Debt
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
Crockard ASC Limited is a private company limited by shares, incorporated in Northern Ireland The Company's registered office is located at CASC 12 Altona Road East, Blaris Industrial Estate, Lisburn, Northern Ireland, BT27 5QB.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The financial statements have been prepared on the basis that the directors, after making enquiries,
have a reasonable expectation that the company has adequate resources to enable it to continue
operating for the foreseeable future. For this reason, the going concern basis continues to be
adopted in preparing the financial statements.
have a reasonable expectation that the company has adequate resources to enable it to continue
operating for the foreseeable future. For this reason, the going concern basis continues to be
adopted in preparing the financial statements.
Functional and presentation currency
Transactions and balances
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life of 10 years.
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life of 10 years.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 Company after the deduction of all its liabilities.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
2.Accounting policies (continued)
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Derecognition of financial instruments
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
During the year it was noted that the company had not complied with the requirements of FRS 102 Section 29 to account for deferred tax. At 1 October 2023 liabilities were understated by £436,930 in this regard.
The movement in deferred tax liabilities for 2023 £45,968 and 2024 £31,926 have been reflected within the taxation note and within the deferred tax liability disclosure. At 30 September 2024 the deferred tax liability was £514,825.
Any balance affected by this prior period error have been marked as restated.
The movement in deferred tax liabilities for 2023 £45,968 and 2024 £31,926 have been reflected within the taxation note and within the deferred tax liability disclosure. At 30 September 2024 the deferred tax liability was £514,825.
Any balance affected by this prior period error have been marked as restated.
The whole of the turnover is attributable to engineering and renewables work undertaken by the entity.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
13.Taxation (continued)
There were no factors that may affect future tax charges.
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
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Crockard ASC Limited
Notes to the Financial Statements
For the Year Ended 30 September 2024
Profit and loss account
adjustments.
The company operates a defined contribution pension scheme. The assets of the defined contribution
plan are held separately from those of the company in an independent trustee administered fund. The
company's contributions are charged to the profit and loss account in the year in which contributions are
payable. During the year £39,428 (2023 £31,372) was charged to the profit and loss account.
plan are held separately from those of the company in an independent trustee administered fund. The
company's contributions are charged to the profit and loss account in the year in which contributions are
payable. During the year £39,428 (2023 £31,372) was charged to the profit and loss account.
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