Company Registration No. NI659716 (Northern Ireland)
Causeway Business Group Limited
Unaudited accounts
for the year ended 31 August 2021
Causeway Business Group Limited
Unaudited accounts
Contents
Causeway Business Group Limited
Company Information
for the year ended 31 August 2021
Director
Kingsley Donaldson
Company Number
NI659716 (Northern Ireland)
Registered Office
2 Market Place
Lisburn
BT28 1AN
Northern Ireland
Accountants
Gray + Press Accountants Limited
Unit 2 Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
Causeway Business Group Limited
Statement of financial position
as at 31 August 2021
Investment property
412,272
132,439
Cash at bank and in hand
7,361
3,773
Creditors: amounts falling due within one year
(162,633)
(137,321)
Net current liabilities
(134,779)
(91,573)
Total assets less current liabilities
305,843
40,866
Creditors: amounts falling due after more than one year
(225,602)
(50,000)
Net assets/(liabilities)
80,241
(9,134)
Called up share capital
100
100
Revaluation reserve
102,561
-
Profit and loss account
(22,420)
(9,234)
Shareholders' funds
80,241
(9,134)
For the year ending 31 August 2021 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 March 2022 and were signed on its behalf by
Kingsley Donaldson
Director
Company Registration No. NI659716
Causeway Business Group Limited
Notes to the Accounts
for the year ended 31 August 2021
Causeway Business Group Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI659716. The registered office is 2 Market Place, Lisburn, BT28 1AN, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% - 20% Straight line
Plant & machinery
20% Straight line
Motor vehicles
20% Reducing balance
Causeway Business Group Limited
Notes to the Accounts
for the year ended 31 August 2021
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2020
-
-
-
-
Additions
854
1,500
26,453
28,807
At 31 August 2021
854
1,500
26,453
28,807
Charge for the year
157
300
-
457
At 31 August 2021
157
300
-
457
At 31 August 2021
697
1,200
26,453
28,350
Fair value at 1 September 2020
132,439
Net gain from fair value adjustments
102,561
6
Debtors: amounts falling due within one year
2021
2020
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
22,589
-
Other creditors
42,174
40,000
Loans from directors
96,737
96,221
8
Creditors: amounts falling due after more than one year
2021
2020
9
Average number of employees
During the year the average number of employees was 0 (2020: 0).
