DCV MCDAID UK LIMITED

Company Registration Number:
NI660906 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 March 2024

Period of accounts

Start date: 01 April 2023

End date: 31 March 2024

DCV MCDAID UK LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2024

Balance sheet
Notes

DCV MCDAID UK LIMITED

Balance sheet

As at 31 March 2024


Notes

2024

2023


£

£
Current assets
Debtors: 3 24,986 100
Cash at bank and in hand: 16,048 0
Total current assets: 41,034 100
Creditors: amounts falling due within one year: 4 (11,468) 0
Net current assets (liabilities): 29,566 100
Total assets less current liabilities: 29,566 100
Total net assets (liabilities): 29,566 100
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 29,466 0
Shareholders funds: 29,566 100

The notes form part of these financial statements

DCV MCDAID UK LIMITED

Balance sheet statements

For the year ending 31 March 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 26 November 2024
and signed on behalf of the board by:

Name: Brendan McDaid
Status: Director

The notes form part of these financial statements

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The company's turnover comprises rental income.

Other accounting policies

Basis of preparation The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. The financial statements are presented in Sterling (£), which is the functional currency of the company. The following principal accounting policies have been applied: Consolidation The company is a subsidiary of DCV McDaid Limited, a company incorporated in the Republic of Ireland. DCV McDaid Limited is exempt from the requirement to prepare goup accounts by virtue of the Companies Act 2014. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make estimates and judgements that affect the reported amounts of assets and liabilities at the date of financial statements and the reported amount of income and expenses during the reporting period. Management evaluates its estimates and judgements on an ongoing basis. Management bases its estimates and judgements on historical experience and on various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. The following is considered important to the portrayal of the company’s financial position: Impairment of trade and other receivables Adequate allowance and provisions are made for specific accounts where objective evidence of impairment exists. The company evaluates these accounts based on available facts and circumstances affecting the recoverability of the accounts, including, but not limited to, the length of the company’s relationship with its service users, service users current credit status, average age of accounts, settlement experience, and historical loss experience. Taxation Tax is recognised in the Statement of income and retained earnings except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Financial instruments The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. Debtors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Cash and cash equivalents Cash is represented by cash in hand and deposits with financial institutions. Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash with insignificant risk of change in value. Creditors Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Share capital Ordinary shares are classified as equity. Incremental cost directly attributable to the issue of ordinary shares and share options are recognised as a deduction from equity, net of any tax effects. Administrative expenses All administrative expenses are recognised in the Statement of income and retained earnings on the accruals basis.

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

3. Debtors

2024 2023
££
Debtors due after more than one year: 0 0

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

4. Creditors: amounts falling due within one year note

Corporation tax £9,968 Other creditors £1,500

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

5. Related party transactions

Name of the related party: DCV McDaid Limited
Relationship:
Subsidiary
Description of the Transaction: Amount owed by parent company.
£
Balance at 01 April 2023 0
Balance at 31 March 2024 15,393
Name of the related party: Donegal Commercial Vehicles Limited
Relationship:
Related party
Description of the Transaction: During the financial year the company entered into an agreement with Donegal Commercial Vehicles Limited, a company incorporated in the Republic of Ireland which is related through a common director and shareholder, to lease a property in Letterkenny, Co Donegal, Ireland. The agreed amount of a rent charged by Donegal Commercial Vehicles Limited to the company was £nil.
£
Balance at 01 April 2023 0
Balance at 31 March 2024 0

DCV MCDAID UK LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2024

6. Post balance sheet events

There have been no significant events affecting the company since the financial year end.