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REGISTERED NUMBER: NI049688 (Northern Ireland)













MCDONALD CONSTRUCTION LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


MCDONALD CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: G McDonald



REGISTERED OFFICE: 25 Camaghy Road
Galbally
DUNGANNON
Co. Tyrone
BT70 2NT



REGISTERED NUMBER: NI049688 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Ltd
20 William Street
COOKSTOWN
Co. Tyrone
BT80 8ND



SOLICITORS: PA Duffy & Co
14 Molesworth Street
Cookstown
Co Tyrone
BT80 8NX

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
MCDONALD CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 March 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants & Chartered Tax Advisers
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


28 March 2024

MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,450 10,900
Tangible assets 5 100,966 118,857
106,416 129,757

CURRENT ASSETS
Stocks 82,500 149,492
Debtors 6 1,120 7,929
Cash at bank - 3,664
83,620 161,085
CREDITORS
Amounts falling due within one year 7 41,460 74,733
NET CURRENT ASSETS 42,160 86,352
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,576

216,109

CREDITORS
Amounts falling due after more than one year 8 (166,629 ) (193,085 )

PROVISIONS FOR LIABILITIES (8,212 ) (14,981 )
NET (LIABILITIES)/ASSETS (26,265 ) 8,043

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (26,365 ) 7,943
SHAREHOLDERS' FUNDS (26,265 ) 8,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

BALANCE SHEET - continued
31 MARCH 2023


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 28 March 2024 and were signed by:





G McDonald - Director


MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

McDonald Construction 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to Leasehold Property - 20% straight line
Plant & machinery - 15% straight line
Fixtures and fittings - 15% straight line

Stocks
Stock is 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 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 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.


MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 109,000
AMORTISATION
At 1 April 2022 98,100
Charge for year 5,450
At 31 March 2023 103,550
NET BOOK VALUE
At 31 March 2023 5,450
At 31 March 2022 10,900

MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

5. TANGIBLE FIXED ASSETS
Improvements
to Fixtures
Leasehold Plant & and
Property machinery fittings Totals
£    £    £    £   
COST
At 1 April 2022 28,605 348,390 1,055 378,050
Additions - 13,500 - 13,500
At 31 March 2023 28,605 361,890 1,055 391,550
DEPRECIATION
At 1 April 2022 28,605 230,271 317 259,193
Charge for year - 31,233 158 31,391
At 31 March 2023 28,605 261,504 475 290,584
NET BOOK VALUE
At 31 March 2023 - 100,386 580 100,966
At 31 March 2022 - 118,119 738 118,857

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant &
machinery
£   
COST
At 1 April 2022
and 31 March 2023 50,000
DEPRECIATION
At 1 April 2022 7,500
Charge for year 7,500
At 31 March 2023 15,000
NET BOOK VALUE
At 31 March 2023 35,000
At 31 March 2022 42,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174 94
Other debtors 946 7,835
1,120 7,929

MCDONALD CONSTRUCTION LIMITED (REGISTERED NUMBER: NI049688)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,693 9,648
Hire purchase contracts 6,000 6,000
Trade creditors 12,485 13,726
Taxation and social security 452 257
Other creditors 3,830 45,102
41,460 74,733

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,509 33,299
Hire purchase contracts 16,000 22,000
Other creditors 127,120 137,786
166,629 193,085

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Directors' loan 58,921 137,786

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 9,045 -
Bank loans 33,157 42,947
42,202 42,947

The bank loans & overdraft are secured by an all monies debenture, fixed and floating security over the assets of the company.

10. RELATED PARTY DISCLOSURES

At the year end the company had a loan amounting to £58,921 from members of key management personnel (£137,786 at 01.04.2022).

There is no repayment date for this loan and interest is not currently being charged.

The loan is presented within creditors: amounts falling due after more than one year.