Castlelane Offsales Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: NI628286 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Castlelane Offsales Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P Maguire

REGISTERED OFFICE:

2a Castle Lane

Lurgan

Co. Armagh

BT67 9BD

REGISTERED NUMBER:

NI628286 (Northern Ireland)

ACCOUNTANTS:

ASC Wylie UBU Ltd

Qualified Accountants, Tax & Business Advisors

7 Lisburn Street

Royal Hillsborough

Co. Down

BT26 6AB

FIXED ASSETS

Tangible assets

4

257,072

267,846

CURRENT ASSETS

Stocks

61,000

59,500

Debtors

5

87,162

90,833

Cash at bank and in hand

59,985

83,807

208,147

234,140

CREDITORS

Amounts falling due within one year

6

377,971

413,832

NET CURRENT LIABILITIES

(169,824

)

(179,692

)

TOTAL ASSETS LESS CURRENT LIABILITIES

87,248

88,154

CREDITORS

Amounts falling due after more than one year

7

(7,350

)

(12,250

)

PROVISIONS FOR LIABILITIES

(3,269

)

(4,339

)

NET ASSETS

76,629

71,565

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

76,529

71,465

76,629

71,565

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 10 August 2023 and were signed by:

P Maguire - Director

1.	STATUTORY INFORMATION

Castlelane Offsales Limited 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2022

and 31 December 2022

271,111

30,286

301,397

DEPRECIATION

At 1 January 2022

26,101

7,450

33,551

Charge for year

5,145

5,629

10,774

At 31 December 2022

31,246

13,079

44,325

NET BOOK VALUE

At 31 December 2022

239,865

17,207

257,072

At 31 December 2021

245,010

22,836

267,846

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

12,685

1,031

Other debtors

74,477

89,802

87,162

90,833

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

4,900

4,900

Trade creditors

53,184

63,315

Taxation and social security

36,393

32,035

Other creditors

283,494

313,582

377,971

413,832

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

7,350

12,250