BrightAccountsProduction v1.0.0 v1.0.0 2023-01-01 The company was not dormant during the period The company was trading for the entire period The principal activity is that of construction services and project management. 26 March 2024 09860952 2023-12-31 09860952 2022-12-31 09860952 2021-12-31 09860952 2023-01-01 2023-12-31 09860952 2022-01-01 2022-12-31 09860952 uk-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09860952 uk-curr:PoundSterling 2023-01-01 2023-12-31 09860952 uk-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09860952 uk-bus:FullAccounts 2023-01-01 2023-12-31 09860952 uk-bus:Director1 2023-01-01 2023-12-31 09860952 uk-bus:RegisteredOffice 2023-01-01 2023-12-31 09860952 uk-bus:Agent1 2023-01-01 2023-12-31 09860952 uk-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09860952 uk-core:ShareCapital 2023-12-31 09860952 uk-core:ShareCapital 2022-12-31 09860952 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 09860952 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 09860952 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 09860952 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 09860952 uk-bus:FRS102 2023-01-01 2023-12-31 09860952 uk-core:MotorVehicles 2023-01-01 2023-12-31 09860952 uk-core:CostValuation 2023-12-31 09860952 uk-core:Subsidiary1 2023-01-01 2023-12-31 09860952 uk-core:CurrentFinancialInstruments 2023-12-31 09860952 uk-core:CurrentFinancialInstruments 2022-12-31 09860952 uk-core:WithinOneYear 2023-12-31 09860952 uk-core:WithinOneYear 2022-12-31 09860952 uk-core:OtherMiscellaneousReserve 2022-12-31 09860952 uk-core:OtherMiscellaneousReserve 2023-01-01 2023-12-31 09860952 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09860952 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-12-31 09860952 uk-core:OtherDeferredTax 2023-12-31 09860952 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-12-31 09860952 uk-core:OtherMiscellaneousReserve 2023-12-31 09860952 2023-01-01 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 09860952
 
 
D-Rex Ltd
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2023



D-Rex Ltd
DIRECTOR AND OTHER INFORMATION

 
Director Mr. Leonard Kinsella
 
 
Company Registration Number 09860952
 
 
Registered Office and Business Address Flat 19
3 Dale Street
Manchester
M1 1BA
United Kingdom
 
 
Accountants Quarter
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
 
Bankers Lloyds TSB Bank
  2138 Coventry Road
  Sheldon
  B26 3JW
  England



D-Rex Ltd

CHARTERED ACCOUNTANTS' REPORT
to the Director on the Compilation of the unaudited financial statements of D-Rex Ltd
for the financial year ended 31 December 2023
 
In accordance with our engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 December 2023 as set out on pages  to 13 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the director of D-Rex Ltd, 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 them 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 its director for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the balance sheet for the year ended 31 December 2023 your duty to ensure that D-Rex Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of D-Rex Ltd. You consider that D-Rex Ltd is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of D-Rex Ltd. For this reason, we have not verified the adequacy, 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 statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
26 March 2024



D-Rex Ltd
Company Registration Number: 09860952
STATEMENT OF FINANCIAL POSITION
as at 31 December 2023

2023 2022
Notes £ £
 
Non-Current Assets
Property, plant and equipment 5 4,100 5,467
Financial assets 6 85 85
───────── ─────────
4,185 5,552
───────── ─────────
 
Current Assets
Inventories 7 78,387 9,546
Receivables 8 43,614 42,867
Cash and cash equivalents 8,068 768
───────── ─────────
130,069 53,181
───────── ─────────
Payables: amounts falling due within one year 9 (320,786) (248,744)
───────── ─────────
Net Current Liabilities (190,717) (195,563)
───────── ─────────
Total Assets less Current Liabilities (186,532) (190,011)
 
Provisions for liabilities 11 43,139 33,146
───────── ─────────
Net Liabilities (143,393) (156,865)
═════════ ═════════
 
Equity
Called up share capital 1 1
Retained earnings (143,394) (156,866)
───────── ─────────
Equity attributable to owners of the company (143,393) (156,865)
═════════ ═════════
 
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).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
           
For the financial year ended 31 December 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 his 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 26 March 2024
           
           
           
________________________________          
Mr. Leonard Kinsella          
Director          
           



D-Rex Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2023

   
1. General Information
 
D-Rex Ltd is a company limited by shares incorporated in the United Kingdom. Flat 19, 3 Dale Street, Manchester, M1 1BA, United Kingdom is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Director's Report. 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 year ended 31 December 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.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Revenue
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Motor vehicles - 25% Reducing balance
 
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.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the profit and loss account in the year in which it is receivable.
 
Inventories
Inventories are valued at the lower of cost and net realisable value. Inventories are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing inventories 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 receivables
Trade and other receivables 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.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables 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.
 
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 Statement of Financial Position 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.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position 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 Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Going concern
 
At 31st December 2023 the balance sheet showed a deficiency of assets of £143,393. The company remains reliant upon the support of its director and connected companies.
       
4. Employees
 
The average monthly number of employees, including director, during the financial year was 2, (2022 - 2).
 
  2023 2022
  Number Number
 
Director 1 1
Other 1 1
  ───────── ─────────
  2 2
  ═════════ ═════════
       
5. Property, plant and equipment
  Motor Total
  vehicles  
     
  £ £
Cost
At 1 January 2023 14,950 14,950
  ───────── ─────────
 
At 31 December 2023 14,950 14,950
  ───────── ─────────
Depreciation
At 1 January 2023 9,483 9,483
Charge for the financial year 1,367 1,367
  ───────── ─────────
At 31 December 2023 10,850 10,850
  ───────── ─────────
Carrying amount
At 31 December 2023 4,100 4,100
  ═════════ ═════════
At 31 December 2022 5,467 5,467
  ═════════ ═════════
       
6. Financial fixed assets
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 31 December 2023 85 85
  ───────── ─────────
Carrying amount
At 31 December 2023 85 85
  ═════════ ═════════
At 31 December 2022 85 85
  ═════════ ═════════
             
6.1. Holdings in related undertakings
The company holds 20% or more of the share capital of the following company:
 
  Country Nature   Details Proportion
  of of   of held by
Name incorporation and address of Registered Office business   investment company
 
Subsidiary undertaking
McGruder Limited Newgrange Lodge
Staleen Rd
Donore
Meath
A92 PP89

Construction   Ordinary Share Class 1 100
 
 
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
 
  Year ended Capital and     Profit for
    reserves     the year
    £     £
 
McGruder Limited   (1,781)     1,015
    ═════════     ═════════
 
In the opinion of the director, the value to the company of the unlisted investments is not materially less than the book amount shown above.
       
7. Inventories 2023 2022
  £ £
 
Work in progress 78,387 9,546
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Receivables 2023 2022
  £ £
 
Amounts owed by connected parties (Note 13) 39,858 39,858
Taxation  (Note 10) 3,756 3,009
  ───────── ─────────
  43,614 42,867
  ═════════ ═════════
       
9. Payables 2023 2022
Amounts falling due within one year £ £
 
Trade payables 3,528 6,297
Taxation  (Note 10) - 995
Director's current account 315,501 231,697
Other creditors 257 6,255
Accruals 1,500 3,500
  ───────── ─────────
  320,786 248,744
  ═════════ ═════════
       
10. Taxation 2023 2022
  £ £
 
Receivables:
VAT 3,756 3,009
  ═════════ ═════════
Payables:
PAYE / NI - 995
  ═════════ ═════════
           
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Losses Total Total
  allowances      
         
      2023 2022
  £ £ £ £
 
At financial year start 1,367 (34,513) (33,146) (21,434)
Charged to profit and loss (342) (9,651) (9,993) (11,712)
  ───────── ───────── ───────── ─────────
At financial year end 1,025 (44,164) (43,139) (33,146)
  ═════════ ═════════ ═════════ ═════════
       
12. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 December 2023.
       
13. Related party transactions
 
Transactions with group companies include ...
 
  Balance Balance
  2023 2022
  £ £
 
McGruder Ltd 34,098 34,098
Irwell Office Company Ltd 5,760 5,760
  ───────── ─────────
  39,858 39,858
  ═════════ ═════════
 
McGruder Ltd
D-Rex Ltd is 100% shareholder of McGruder Ltd. Mr Leonard Kinsella is a director in McGruder Ltd and D-Rex Ltd.

As at 1 January 2023, McGruder Ltd owed £34,098 to D-Rex Ltd. During the financial year there were net transactions of £nil, and as at 31 December 2023 McGruder Ltd owed £34,098 to D-Rex Ltd.

Irwell Office Company Ltd

Mr Leonard Kinsella is a director in Irwell Office Company Ltd and D-Rex Ltd.

As at 1 January 2023, Irwell Office Company Ltd owed £5,760 to D-Rex Ltd. During the financial year there were net transactions of £nil, and as at 31 December 2023 Irwell Office Company Ltd owed  £5,760 to D-Rex Ltd.
   
14. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.