Registration number: NI031385

Cascon Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Cascon Limited

Company Information

Directors

Mrs Karen Hall Ms Anita Lennon

Company secretary

Mrs Karen Hall

Registered office

22 High Street Belfast BT1 1LT

Accountants

McKeague Morgan & Company Chartered Accountants27 College Gardens Belfast BT9 6BS

Cascon Limited

(Registration number: NI031385)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	5	22,732	19,250
Current assets
Stocks	6	267,752	255,731
Debtors	7	18,617	13,408
Cash at bank and in hand		118,852	168,477
		405,221	437,616
Creditors: Amounts falling due within one year	8	(134,938)	(171,428)
Net current assets		270,283	266,188
Total assets less current liabilities		293,015	285,438
Creditors: Amounts falling due after more than one year	8	(4,371)	(14,762)
Provisions for liabilities		(5,242)	(3,301)
Net assets		283,402	267,375
Capital and reserves
Called up share capital		26,710	26,710
Capital redemption reserve		41,390	41,390
Profit and loss account		215,302	199,275
Total equity		283,402	267,375

Cascon Limited

(Registration number: NI031385)
Balance Sheet as at 31 December 2024

For the financial year ending 31 December 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 in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 30 December 2025 and signed on its behalf by:
 

.........................................

Ms Anita Lennon
Director

Cascon Limited

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

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
22 High Street
Belfast
BT1 1LT

These financial statements were authorised for issue by the Board on 30 December 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises current and 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.

Cascon Limited

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

2	Accounting policies (continued)

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
Plant and machinery	10% straight line
Fixtures and fittings	10% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Licence	10% straight line

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.

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.

Cascon Limited

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

2	Accounting policies (continued)

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Cascon Limited

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

2	Accounting policies (continued)

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 10 (2023 - 11).

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2024	20,000	20,000
At 31 December 2024	20,000	20,000
Amortisation
At 1 January 2024	20,000	20,000
At 31 December 2024	20,000	20,000
Carrying amount
At 31 December 2024	-	-

Cascon Limited

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

5	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2024	147,716	19,726	167,442
Additions	8,269	-	8,269
At 31 December 2024	155,985	19,726	175,711
Depreciation
At 1 January 2024	128,466	19,726	148,192
Charge for the year	4,787	-	4,787
At 31 December 2024	133,253	19,726	152,979
Carrying amount
At 31 December 2024	22,732	-	22,732
At 31 December 2023	19,250	-	19,250

6

Stocks

	2024 £	2023 £
Other inventories	267,752	255,731

7

Debtors

	2024 £	2023 £
Prepayments	8,703	8,652
Other debtors	9,914	4,756
	18,617	13,408

Cascon Limited

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

8

Creditors

	Note	2024 £	2023 £
Due within one year
Bank loans and overdrafts	9	10,391	10,130
Trade creditors		17,984	7,563
Corporation tax liability		27,056	45,783
Taxation and social security		18,701	34,910
Other creditors		48,725	56,412
Loans from directors		2,581	4,630
Accruals and deferred income		9,500	12,000
		134,938	171,428
Due after one year
Loans and borrowings	9	4,371	14,762

9	Loans and borrowings

Current loans and borrowings

	2024 £	2023 £
Bank borrowings	10,391	10,130

Non-current loans and borrowings

	2024 £	2023 £
Bank borrowings	4,371	14,762

Bank borrowings

Bank borrowings is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due in June 2026. The carrying amount at year end is £14,762 (2023 - £24,892). Bank borrowings are guaranteed by the UK Government under the Bounce Back Loan Scheme.

Cascon Limited

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

10	Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	13,500	9,424