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COMPANY REGISTRATION NUMBER: NI056000
Dunmail Limited
Filleted Unaudited Financial Statements
30 November 2023
Dunmail Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Current assets
Debtors
5
15,004
40,517
Cash at bank and in hand
50,386
105,432
--------
---------
65,390
145,949
Creditors: amounts falling due within one year
6
51,391
46,773
--------
---------
Net current assets
13,999
99,176
--------
--------
Total assets less current liabilities
13,999
99,176
Creditors: amounts falling due after more than one year
7
40,187
--------
--------
Net assets
13,999
58,989
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
13,997
58,987
--------
--------
Shareholders funds
13,999
58,989
--------
--------
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.
For the year ending 30 November 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 .
Dunmail Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
Mr D Caldwell
Ms E Magill
Director
Director
Company registration number: NI056000
Dunmail Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 36 Ennis Close, Lurgan, Co.Armagh, BT67 9EY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The business, including the trade and assets, has been sold as at 30th November 2022 and all amounts have been included based on disposal proceeds.
Revenue recognition
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
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:
Fixtures & Fittings
-
15% reducing balance
Office Equipment
-
15% reducing balance
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 10 ).
5. Debtors
2023
2022
£
£
Trade debtors
1,047
Other debtors
15,004
39,470
--------
--------
15,004
40,517
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,918
Trade creditors
6,357
66,222
Social security and other taxes
4,335
Other creditors
45,034
( 34,702)
--------
--------
51,391
46,773
--------
--------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
40,187
----
--------
8. Related party transactions
The company was under the control of the directors Mr Caldwell and Ms Magill, each of which hold 50% of the issued share capital. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.