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REGISTERED NUMBER: 01942588 (England and Wales)















D & S MCNALLY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024






D & S MCNALLY LIMITED (REGISTERED NUMBER: 01942588)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


D & S MCNALLY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mrs S M McNally



SECRETARY: Mrs S M McNally



REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP



REGISTERED NUMBER: 01942588 (England and Wales)



ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP



BANKERS: Natwest Bank PLC
18 High Street
Haverfordwest
Pembrokeshire
SA61 2DE

D & S MCNALLY LIMITED (REGISTERED NUMBER: 01942588)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258 305
Investment property 5 336,981 336,981
337,239 337,286

CURRENT ASSETS
Cash at bank 17,459 14,916

CREDITORS
Amounts falling due within one year 6 9,514 7,141
NET CURRENT ASSETS 7,945 7,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

345,184

345,061

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 345,182 345,059
SHAREHOLDERS' FUNDS 345,184 345,061

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

D & S MCNALLY LIMITED (REGISTERED NUMBER: 01942588)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024



The financial statements were approved by the director and authorised for issue on 31 October 2024 and were signed by:





Mrs S M McNally - Director


D & S MCNALLY LIMITED (REGISTERED NUMBER: 01942588)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

D & S McNally Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% reducing balance
Computer equipment - 25% straight line

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

D & S MCNALLY LIMITED (REGISTERED NUMBER: 01942588)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 2,745 2,779 5,524
DEPRECIATION
At 1 February 2023 2,440 2,779 5,219
Charge for year 47 - 47
At 31 January 2024 2,487 2,779 5,266
NET BOOK VALUE
At 31 January 2024 258 - 258
At 31 January 2023 305 - 305

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023
and 31 January 2024 336,981
NET BOOK VALUE
At 31 January 2024 336,981
At 31 January 2023 336,981

The property has been valued at open market value by the director, reflecting comparable valuations in the local area. The valuations were carried out in 2022. Investment properties are not depreciated as they are held for their investment potential.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 7,077 4,942
Other creditors 2,437 2,199
9,514 7,141

7. RELATED PARTY DISCLOSURES

During the year the director made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £894 (2023 - £657).