Registered number
NI058702
D&M McBride Ltd
Filleted Accounts
31 March 2023
D&M McBride Ltd
Registered number: NI058702
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 33,209 39,274
Current assets
Stocks 1,056 3,803
Debtors 4 23,493 14,064
Cash at bank and in hand 18,087 28,541
42,636 46,408
Creditors: amounts falling due within one year 5 (19,460) (25,579)
Net current assets 23,176 20,829
Total assets less current liabilities 56,385 60,103
Creditors: amounts falling due after more than one year 6 (16,579) (21,418)
Net assets 39,806 38,685
Capital and reserves
Called up share capital 100 100
Profit and loss account 39,706 38,585
Shareholders' funds 39,806 38,685
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dominic McBride
Director
Approved by the board on 25 October 2023
D&M McBride Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 4,850 118,570 123,420
Additions - 11,569 11,569
Disposals - (25,742) (25,742)
At 31 March 2023 4,850 104,397 109,247
Depreciation
At 1 April 2022 - 84,146 84,146
Charge for the year - 7,090 7,090
On disposals - (15,198) (15,198)
At 31 March 2023 - 76,038 76,038
Net book value
At 31 March 2023 4,850 28,359 33,209
At 31 March 2022 4,850 34,424 39,274
4 Debtors 2023 2022
£ £
Trade debtors 21,493 12,064
Other debtors 2,000 2,000
23,493 14,064
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 254 4,129
Trade creditors 850 432
Taxation and social security costs 7,548 8,078
Other creditors 10,808 12,940
19,460 25,579
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,579 21,418
7 Related party transactions
There were no related party transactions during the year other than those already disclosed elsewhere in the accounts.
8 Controlling party
The directors are the controlling parties.
9 Other information
D&M McBride Ltd is a private company limited by shares and incorporated in Northern Ireland. Its registered office is:
82A Ligford Road
Plumbridge
Omagh
Co Tyrone
BT79 8DW
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