BrightAccountsProduction v1.0.0 v1.0.0 2022-08-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the design and build of modular buildings. 22 February 2024 NI674965 2023-07-31 NI674965 2022-07-31 NI674965 2021-07-31 NI674965 2022-08-01 2023-07-31 NI674965 2021-08-01 2022-07-31 NI674965 uk-bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 NI674965 uk-curr:PoundSterling 2022-08-01 2023-07-31 NI674965 uk-bus:AbridgedAccounts 2022-08-01 2023-07-31 NI674965 uk-core:ShareCapital 2023-07-31 NI674965 uk-core:ShareCapital 2022-07-31 NI674965 uk-core:RetainedEarningsAccumulatedLosses 2023-07-31 NI674965 uk-core:RetainedEarningsAccumulatedLosses 2022-07-31 NI674965 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-07-31 NI674965 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-07-31 NI674965 uk-bus:FRS102 2022-08-01 2023-07-31 NI674965 uk-core:PlantMachinery 2022-08-01 2023-07-31 NI674965 uk-core:MotorVehicles 2022-08-01 2023-07-31 NI674965 2022-08-01 2023-07-31 NI674965 uk-bus:Director1 2022-08-01 2023-07-31 NI674965 uk-bus:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI674965
 
 
DMC Modular Design & Build Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 July 2023
DMC Modular Design & Build Ltd
Company Registration Number: NI674965
ABRIDGED BALANCE SHEET
as at 31 July 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 5 183,633 78,999
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Current Assets
Stocks 2,794 145,000
Debtors 306,515 11,130
Cash and cash equivalents 42,026 1,797
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351,335 157,927
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Creditors: amounts falling due within one year (694,306) (461,943)
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Net Current Liabilities (342,971) (304,016)
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Total Assets less Current Liabilities (159,338) (225,017)
 
Creditors:
amounts falling due after more than one year (79,357) (16,856)
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Net Liabilities (238,695) (241,873)
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Capital and Reserves
Called up share capital 100 100
Retained earnings (238,795) (241,973)
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Equity attributable to owners of the company (238,695) (241,873)
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The financial statements have been prepared 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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Director's Report.
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 22 February 2024
           
           
           
________________________________          
Declan McCrory          
Director          
           



DMC Modular Design & Build Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 July 2023

   
1. General Information
 
DMC Modular Design & Build Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI674965. The registered office of the company is C/O McElholm & Co, 30a Gortin Road, Omagh, Co Tyrone, BT79 7HX. The principal activity of the company is the design and build of modular buildings. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 July 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Straight line
  Motor vehicles - 20% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
The director has confirmed that he will continue to give financial support to the company until such time as its position improves. In addition, the director has confirmed that he will not recall any loans within 12 months. The director considers that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if the financial support were withdrawn.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 5, (2022 - 4).
 
  2023 2022
  Number Number
 
Administrative 1 1
Cost of Sales 4 3
  ───────── ─────────
  5 4
  ═════════ ═════════
         
5. Tangible assets
  Plant and Motor Total
  machinery vehicles  
       
  £ £ £
Cost
At 1 August 2022 50,734 71,000 121,734
Additions 107,981 53,245 161,226
  ───────── ───────── ─────────
At 31 July 2023 158,715 124,245 282,960
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Depreciation
At 1 August 2022 14,335 28,400 42,735
Charge for the financial year 31,743 24,849 56,592
  ───────── ───────── ─────────
At 31 July 2023 46,078 53,249 99,327
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Net book value
At 31 July 2023 112,637 70,996 183,633
  ═════════ ═════════ ═════════
At 31 July 2022 36,399 42,600 78,999
  ═════════ ═════════ ═════════
       
6. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 July 2023.
   
7. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.