Registration number:
Dunaverty Limited
for the Year Ended 31 December 2023
Dunaverty Limited
(Registration number: NI689165)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
|
Fixed assets |
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Tangible assets |
|
- |
|
Current assets |
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Debtors |
|
|
|
Cash at bank and in hand |
|
- |
|
|
|
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Creditors: Amounts falling due within one year |
( |
- |
|
Net current (liabilities)/assets |
( |
|
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
1 |
1 |
|
Shareholders' funds |
1 |
1 |
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
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Dunaverty Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
General information
The presentational and functional currency of the Company is pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements were authorised for issue by the
Audit report
In accordance with the provisions of section 444 of the Companies Act 2006, the directors have not delivered a copy of the audit report with these financial statements.
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 passenger fares together with cost recoveries and subsidies receivable from the Department of Infrastructure.
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
Dunaverty Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Government grants
Government grants and subsidies are accounted for under the accrual model and are recognised when it is reasonable to expect that the grant or subsidy will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants and subsidies that become receivable as compensation for expenses already incurred are recognised in income in the period in which it becomes receivable.
Capital grants are recognised in income on a systematic basis over the expected useful life of the asset.
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 |
25% reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.
Short-term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Dunaverty Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
|
Cost or valuation |
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Additions |
|
|
At 31 December 2023 |
|
|
Depreciation |
||
Charge for the year |
|
|
At 31 December 2023 |
|
|
Carrying amount |
||
At 31 December 2023 |
|
|
Debtors |
Current |
2023 |
2022 |
Trade debtors |
|
- |
Other debtors |
|
|
|
|
Dunaverty Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
|
Trade creditors |
|
- |
Other creditors |
|
- |
Accruals and deferred income |
|
- |
|
- |
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
|||
No. |
£ |
No. |
£ |
|
|
|
1 |
|
1 |
Related party transactions |
The Company is controlled by the Directors and, at the year end, there were no amounts due to or from the Directors. All transactions with Directors were on an arm’s length basis.
Transactions and outstanding balances with related parties, related through virtue of common control were as follows:
2023 |
2022 |
|
Management fees payable |
196,319 |
- |
Crew hire recovery |
64,390 |
- |
Leasing costs |
120,000 |
- |
Start-up costs |
2,823 |
- |
Amounts due to related parties |
103,015 |
- |