BrightAccountsProduction v1.0.0 v1.0.0 2022-12-01 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 freight transport by road. 15 August 2024 2 2 NI684053 2023-11-30 NI684053 2022-11-30 NI684053 2021-11-30 NI684053 2022-12-01 2023-11-30 NI684053 2021-12-01 2022-11-30 NI684053 uk-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI684053 uk-curr:PoundSterling 2022-12-01 2023-11-30 NI684053 uk-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI684053 uk-bus:AbridgedAccounts 2022-12-01 2023-11-30 NI684053 uk-core:ShareCapital 2023-11-30 NI684053 uk-core:ShareCapital 2022-11-30 NI684053 uk-core:RetainedEarningsAccumulatedLosses 2023-11-30 NI684053 uk-core:RetainedEarningsAccumulatedLosses 2022-11-30 NI684053 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-11-30 NI684053 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-11-30 NI684053 uk-bus:FRS102 2022-12-01 2023-11-30 NI684053 uk-core:Land 2022-12-01 2023-11-30 NI684053 uk-core:PlantMachinery 2022-12-01 2023-11-30 NI684053 2022-12-01 2023-11-30 NI684053 uk-bus:Director1 2022-12-01 2023-11-30 NI684053 uk-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Company Registration Number: NI684053
 
 
P MCDERMOTT TRANSPORT LTD
 
Abridged Unaudited Financial Statements
 
for the financial year ended 30 November 2023
P MCDERMOTT TRANSPORT LTD
Company Registration Number: NI684053
ABRIDGED BALANCE SHEET
as at 30 November 2023

2023 2022
Notes £ £
 
Fixed Assets
Tangible assets 4 172,550 181,225
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Current Assets
Debtors 104,050 60,029
Cash and cash equivalents 13,416 -
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117,466 60,029
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Creditors: amounts falling due within one year (76,717) (68,451)
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Net Current Assets/(Liabilities) 40,749 (8,422)
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Total Assets less Current Liabilities 213,299 172,803
 
Creditors:
amounts falling due after more than one year (110,036) (135,971)
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Net Assets 103,263 36,832
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Capital and Reserves
Called up share capital 100 100
Retained earnings 103,163 36,732
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Shareholders' Funds 103,263 36,832
═════════ ═════════
 
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 30 November 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 15 August 2024
           
           
________________________________          
Mr. Patrick McDermott          
Director          
           



P MCDERMOTT TRANSPORT LTD
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 30 November 2023

   
1. General Information
 
P MCDERMOTT TRANSPORT LTD is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI684053. The registered office of the company is 43 Annahilla Road, Augher, Co. Tyrone, BT77 0BR, Northern Ireland 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 financial year ended 30 November 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:
 
  Long leasehold property - 2% Straight line
  Plant and machinery - 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.
 
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.
 
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.
 
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.
 
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. Employees
 
The average monthly number of employees, including director, during the financial year was 2, (2022 - 2).
 
  2023 2022
  Number Number
 
Employees 2 2
  ═════════ ═════════
         
4. Tangible assets
  Long Plant and Total
  leasehold machinery  
  property    
  £ £ £
Cost
At 1 December 2022 83,784 105,000 188,784
Additions - 49,241 49,241
Disposals - (31,741) (31,741)
  ───────── ───────── ─────────
At 30 November 2023 83,784 122,500 206,284
  ───────── ───────── ─────────
Depreciation
At 1 December 2022 559 7,000 7,559
Charge for the financial year 1,675 24,500 26,175
  ───────── ───────── ─────────
At 30 November 2023 2,234 31,500 33,734
  ───────── ───────── ─────────
Net book value
At 30 November 2023 81,550 91,000 172,550
  ═════════ ═════════ ═════════
At 30 November 2022 83,225 98,000 181,225
  ═════════ ═════════ ═════════
       
5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 30 November 2023.
   
6. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.