0 31/12/2023 2023-12-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-01-01 Sage Accounts Production 23.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP NI614882 2023-01-01 2023-12-31 NI614882 2023-12-31 NI614882 2022-12-31 NI614882 2022-01-01 2022-12-31 NI614882 2022-12-31 NI614882 2021-12-31 NI614882 core:PlantMachinery 2023-01-01 2023-12-31 NI614882 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI614882 bus:RegisteredOffice 2023-01-01 2023-12-31 NI614882 bus:LeadAgentIfApplicable 2023-01-01 2023-12-31 NI614882 bus:Director1 2023-01-01 2023-12-31 NI614882 bus:Director2 2023-01-01 2023-12-31 NI614882 bus:CompanySecretary1 2023-01-01 2023-12-31 NI614882 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 NI614882 core:PlantMachinery 2022-12-31 NI614882 core:FurnitureFittingsToolsEquipment 2022-12-31 NI614882 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 NI614882 core:PlantMachinery 2023-12-31 NI614882 core:FurnitureFittingsToolsEquipment 2023-12-31 NI614882 core:WithinOneYear 2023-12-31 NI614882 core:WithinOneYear 2022-12-31 NI614882 core:ShareCapital 2023-12-31 NI614882 core:ShareCapital 2022-12-31 NI614882 core:RetainedEarningsAccumulatedLosses 2023-12-31 NI614882 core:RetainedEarningsAccumulatedLosses 2022-12-31 NI614882 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 NI614882 core:PlantMachinery 2022-12-31 NI614882 core:FurnitureFittingsToolsEquipment 2022-12-31 NI614882 bus:SmallEntities 2023-01-01 2023-12-31 NI614882 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI614882 bus:FullAccounts 2023-01-01 2023-12-31 NI614882 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI614882 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31
Company registration number: NI614882
Dysart Energy Limited
Unaudited filleted financial statements
31 December 2023
Dysart Energy Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Dysart Energy Limited
Directors and other information
Directors Mr Daniel Hegarty
Mrs Maureen Hegarty
Secretary Maureen Hegarty
Company number NI614882
Registered office 16 Bancran Road
Draperstown
Co. Derry
BT45 7DT
Accountants PFS Accountants and Auditors Ltd
122 Main Street
Dungiven
Derry
BT47 4LG
Bankers Bank of Ireland
Market Street
Magherafelt
BT45 6EE
Dysart Energy Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Dysart Energy Limited
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Dysart Energy Limited for the year ended 31 December 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Dysart Energy Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Dysart Energy Limited and state those matters that we have agreed to state to the board of directors of Dysart Energy Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Dysart Energy Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Dysart Energy Limited 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 Dysart Energy Limited. You consider that Dysart Energy Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Dysart Energy Limited. 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 statutory financial statements.
PFS Accountants and Auditors Ltd
Chartered Certified Accountants
122 Main Street
Dungiven
Derry
BT47 4LG
16 May 2024
Dysart Energy Limited
Statement of financial position
31 December 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 4 682,773 664,615
_______ _______
682,773 664,615
Current assets
Stocks 20,701 11,339
Debtors 5 17,820 154,128
Cash at bank and in hand 813,478 604,426
_______ _______
851,999 769,893
Creditors: amounts falling due
within one year 6 ( 155,487) ( 189,119)
_______ _______
Net current assets 696,512 580,774
_______ _______
Total assets less current liabilities 1,379,285 1,245,389
Provisions for liabilities ( 129,731) ( 126,280)
_______ _______
Net assets 1,249,554 1,119,109
_______ _______
Capital and reserves
Called up share capital 31 31
Profit and loss account 1,249,523 1,119,078
_______ _______
Shareholders funds 1,249,554 1,119,109
_______ _______
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 May 2024 , and are signed on behalf of the board by:
Mr Daniel Hegarty
Director
Company registration number: NI614882
Dysart Energy Limited
Notes to the financial statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Dysart Energy Limited, 16 Bancran Road, Draperstown, Co. Derry, BT45 7DT.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 5 % straight line
Fittings fixtures and equipment - 5 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 January 2023 308,930 648,112 5,000 962,042
Additions - 48,814 - 48,814
_______ _______ _______ _______
At 31 December 2023 308,930 696,926 5,000 1,010,856
_______ _______ _______ _______
Depreciation
At 1 January 2023 - 296,177 1,250 297,427
Charge for the year - 30,406 250 30,656
_______ _______ _______ _______
At 31 December 2023 - 326,583 1,500 328,083
_______ _______ _______ _______
Carrying amount
At 31 December 2023 308,930 370,343 3,500 682,773
_______ _______ _______ _______
At 31 December 2022 308,930 351,935 3,750 664,615
_______ _______ _______ _______
5. Debtors
2023 2022
£ £
Trade debtors - 151,151
Other debtors 17,820 2,977
_______ _______
17,820 154,128
_______ _______
6. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 84,727 100,775
Corporation tax 64,446 77,754
Other creditors 6,314 10,590
_______ _______
155,487 189,119
_______ _______