BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 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 that of construction and building services. 29 November 2024 1 1 NI606067 2024-03-31 NI606067 2023-03-31 NI606067 2022-03-31 NI606067 2023-04-01 2024-03-31 NI606067 2022-04-01 2023-03-31 NI606067 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI606067 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI606067 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI606067 uk-core:ShareCapital 2024-03-31 NI606067 uk-core:ShareCapital 2023-03-31 NI606067 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI606067 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI606067 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI606067 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI606067 uk-bus:FRS102 2023-04-01 2024-03-31 NI606067 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI606067 uk-core:MotorVehicles 2023-04-01 2024-03-31 NI606067 2023-04-01 2024-03-31 NI606067 uk-bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 NI606067 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI606067
 
 
Donnelly Bros Contracts Ltd
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Donnelly Bros Contracts Ltd
Company Registration Number: NI606067
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 March 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 109,292 84,992
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Current Assets
Stocks 131,250 142,485
Debtors 107,587 44,056
Cash and cash equivalents 201,464 265,959
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440,301 452,500
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Creditors: amounts falling due within one year (220,257) (239,998)
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Net Current Assets 220,044 212,502
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Total Assets less Current Liabilities 329,336 297,494
 
Creditors:
amounts falling due after more than one year (50,857) (50,750)
 
Provisions for liabilities (27,322) (17,953)
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Net Assets 251,157 228,791
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Capital and Reserves
Called up share capital 2 2
Retained earnings 251,155 228,789
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Shareholders' Funds 251,157 228,791
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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 Income Statement and Director's Report.
For the financial year ended 31 March 2024 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 29 November 2024
           
           
           
________________________________          
Enda Donnelly          
Director          
           



Donnelly Bros Contracts Ltd
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Donnelly Bros Contracts Ltd is a company limited by shares incorporated in Northern Ireland. 60 Moylagh Road, Beragh, Co Tyrone, BT79 0UJ is the registered office, which is also the principal place of business of the company. The principal activity of the company is that of construction and building services. 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 year ended 31 March 2024 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.
 
Property, plant and equipment and depreciation
Property, plant and equipment 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 property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 20% Reducing balance
  Motor vehicles - 20% Reducing balance
 
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
Property, plant and equipment 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 Statement of Financial Position 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 Income Statement.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
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.
 
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 Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position 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 Income Statement.
 
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 1, (2023 - 1).
 
  2024 2023
  Number Number
 
Director 1 1
  ═════════ ═════════
         
4. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 1 April 2023 145,958 34,450 180,408
Additions 35,523 23,100 58,623
Disposals - (8,750) (8,750)
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At 31 March 2024 181,481 48,800 230,281
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Depreciation
At 1 April 2023 80,250 15,166 95,416
Charge for the financial year 20,246 7,077 27,323
On disposals - (1,750) (1,750)
  ───────── ───────── ─────────
At 31 March 2024 100,496 20,493 120,989
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Net book value
At 31 March 2024 80,985 28,307 109,292
  ═════════ ═════════ ═════════
At 31 March 2023 65,708 19,284 84,992
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5. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 March 2024.
   
6. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.