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Company Registration No. NI612754 (Northern Ireland)
Dairconn Ltd Unaudited accounts for the year ended 31 May 2023
Dairconn Ltd Unaudited accounts Contents
Page
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Dairconn Ltd Company Information for the year ended 31 May 2023
Directors
Christopher Margetts Ciara Margetts
Secretary
Christopher Margetts
Company Number
NI612754 (Northern Ireland)
Registered Office
7 Scaffog Avenue Enniskillen Co.Fermanagh BT74 7JJ
Accountants
EMC Accountancy 21 Railway Street Belcoo Fermanagh BT93 5FJ
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Dairconn Ltd Statement of financial position as at 31 May 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,710 
9,637 
Current assets
Debtors
8,644 
12,678 
Cash at bank and in hand
38,904 
29,128 
47,548 
41,806 
Creditors: amounts falling due within one year
(20,811)
(18,430)
Net current assets
26,737 
23,376 
Total assets less current liabilities
34,447 
33,013 
Provisions for liabilities
Deferred tax
(1,138)
(1,138)
Net assets
33,309 
31,875 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
33,209 
31,775 
Shareholders' funds
33,309 
31,875 
For the year ending 31 May 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by
Christopher Margetts Director Company Registration No. NI612754
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Dairconn Ltd Notes to the Accounts for the year ended 31 May 2023
1
Statutory information
Dairconn Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI612754. The registered office is 7 Scaffog Avenue, Enniskillen, Co.Fermanagh, BT74 7JJ.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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. 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 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:
Fixtures & fittings
20% Reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Dairconn Ltd Notes to the Accounts for the year ended 31 May 2023
Financial instruments
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.
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2022
28,272 
At 31 May 2023
28,272 
Depreciation
At 1 June 2022
18,635 
Charge for the year
1,927 
At 31 May 2023
20,562 
Net book value
At 31 May 2023
7,710 
At 31 May 2022
9,637 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
644 
1,078 
Trade debtors
8,000 
11,600 
8,644 
12,678 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
2,551 
6,079 
Taxes and social security
3,133 
3,799 
Loans from directors
11,124 
4,020 
Accruals
4,003 
4,532 
20,811 
18,430 
7
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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