Donnelly Surveyors (NI) Limited NI625705 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Quantity Surveying Digita Accounts Production Advanced 6.30.9574.0 true true NI625705 2023-01-01 2023-12-31 NI625705 2023-12-31 NI625705 bus:Director1 1 2023-12-31 NI625705 bus:OrdinaryShareClass1 2023-12-31 NI625705 core:CurrentFinancialInstruments 2023-12-31 NI625705 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI625705 core:FurnitureFittingsToolsEquipment 2023-12-31 NI625705 bus:SmallEntities 2023-01-01 2023-12-31 NI625705 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 NI625705 bus:FilletedAccounts 2023-01-01 2023-12-31 NI625705 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 NI625705 bus:RegisteredOffice 2023-01-01 2023-12-31 NI625705 bus:Director1 2023-01-01 2023-12-31 NI625705 bus:Director1 1 2023-01-01 2023-12-31 NI625705 bus:Director2 2023-01-01 2023-12-31 NI625705 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 NI625705 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-01-01 2023-12-31 NI625705 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI625705 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 NI625705 core:OfficeEquipment 2023-01-01 2023-12-31 NI625705 countries:AllCountries 2023-01-01 2023-12-31 NI625705 2022-12-31 NI625705 bus:Director1 1 2022-12-31 NI625705 core:FurnitureFittingsToolsEquipment 2022-12-31 NI625705 2022-01-01 2022-12-31 NI625705 2022-12-31 NI625705 bus:Director1 1 2022-12-31 NI625705 bus:OrdinaryShareClass1 2022-12-31 NI625705 core:CurrentFinancialInstruments 2022-12-31 NI625705 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 NI625705 core:FurnitureFittingsToolsEquipment 2022-12-31 NI625705 bus:Director1 1 2022-01-01 2022-12-31 NI625705 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-01-01 2022-12-31 NI625705 bus:Director1 1 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI625705

Donnelly Surveyors (NI) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Donnelly Surveyors (NI) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Donnelly Surveyors (NI) Limited

Company Information

Directors

Mr Niall Donnelly

Mrs Pauline Donnelly

Registered office

95 Fathom Line
Newry
Co Down
BT35 8QN

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants & Tax Advisors
5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Donnelly Surveyors (NI) Limited

(Registration number: NI625705)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

4,512

4,283

Current assets

 

Debtors

5

10,267

1,867

Cash at bank and in hand

 

3,694

19,230

 

13,961

21,097

Creditors: Amounts falling due within one year

6

(16,905)

(19,702)

Net current (liabilities)/assets

 

(2,944)

1,395

Total assets less current liabilities

 

1,568

5,678

Provisions for liabilities

(857)

(814)

Net assets

 

711

4,864

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

709

4,862

Shareholders' funds

 

711

4,864

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
Mr Niall Donnelly
Director

.........................................
Mrs Pauline Donnelly
Director

 
     
 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in N. Ireland.

The address of its registered office is:
95 Fathom Line
Newry
Co Down
BT35 8QN
Northern Ireland

These financial statements were authorised for issue by the Board on 18 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

15% Reducing Balance Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

8,247

8,247

Additions

1,025

1,025

At 31 December 2023

9,272

9,272

Depreciation

At 1 January 2023

3,964

3,964

Charge for the year

796

796

At 31 December 2023

4,760

4,760

Carrying amount

At 31 December 2023

4,512

4,512

At 31 December 2022

4,283

4,283

5

Debtors

Current

2023
£

2022
£

Trade debtors

4,946

860

Other debtors

5,321

1,007

 

10,267

1,867

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

809

-

Trade creditors

 

60

60

Taxation and social security

 

14,046

17,597

Accruals and deferred income

 

1,760

1,710

Other creditors

 

230

335

 

16,905

19,702

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Share of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank overdrafts

809

-

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £25,000.00 (2022 - £27,000.00) per each Ordinary Share

50,000

54,000

 

 

10

Related party transactions

Key management compensation

2023
£

2022
£

Salaries and other short term employee benefits

23,941

19,992

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Mr Niall Donnelly

Director Loan

105

(113,031)

107,946

(4,980)

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

Mr Niall Donnelly

Director Loan

538

(101,603)

101,170

105

 

Donnelly Surveyors (NI) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

23,941

19,976

Dividends paid to directors

2023
£

2022
£

Mr Niall Donnelly

Dividends

25,000

27,500

 

 

Mrs Pauline Donnelly

Dividends

25,000

27,500