Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 NI618500 Mr Michael Dunlop iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure NI618500 2023-05-31 NI618500 2024-05-31 NI618500 2023-06-01 2024-05-31 NI618500 frs-core:CurrentFinancialInstruments 2024-05-31 NI618500 frs-core:PlantMachinery 2024-05-31 NI618500 frs-core:PlantMachinery 2023-06-01 2024-05-31 NI618500 frs-core:PlantMachinery 2023-05-31 NI618500 frs-core:ShareCapital 2024-05-31 NI618500 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI618500 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI618500 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 NI618500 frs-bus:SmallEntities 2023-06-01 2024-05-31 NI618500 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 NI618500 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI618500 frs-bus:Director1 2023-06-01 2024-05-31 NI618500 frs-countries:NorthernIreland 2023-06-01 2024-05-31 NI618500 2022-05-31 NI618500 2023-05-31 NI618500 2022-06-01 2023-05-31 NI618500 frs-core:CurrentFinancialInstruments 2023-05-31 NI618500 frs-core:ShareCapital 2023-05-31 NI618500 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: NI618500
Michael Dunlop Racing Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Lakeview CA Ltd
Chartered Accountants
142 Station Road
Saintfield
Co Down
BT24 7EL
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: NI618500
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,756 21,756
21,756 21,756
CURRENT ASSETS
Debtors 5 18,719 18,719
Cash at bank and in hand 352,471 387,193
371,190 405,912
Creditors: Amounts Falling Due Within One Year 6 (75,107 ) (75,107 )
NET CURRENT ASSETS (LIABILITIES) 296,083 330,805
TOTAL ASSETS LESS CURRENT LIABILITIES 317,839 352,561
NET ASSETS 317,839 352,561
CAPITAL AND RESERVES
Called up share capital 7 100 100
Profit and Loss Account 317,739 352,461
SHAREHOLDERS' FUNDS 317,839 352,561
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Michael Dunlop
Director
05/12/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Michael Dunlop Racing Ltd is a private company, limited by shares, incorporated in Northern Ireland, registered number NI618500 . The registered office is 55 Lisboy Rd, Dunloy, Ballymena, BT44 9BU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% RB
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: )
- -
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 44,566
As at 31 May 2024 44,566
Depreciation
As at 1 June 2023 22,810
As at 31 May 2024 22,810
Net Book Value
As at 31 May 2024 21,756
As at 1 June 2023 21,756
Page 3
Page 4
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,000 2,000
Due after more than one year
Other debtors 16,719 16,719
18,719 18,719
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors (1 ) (1 )
Other creditors 75,222 75,222
Taxation and social security (114 ) (114 )
75,107 75,107
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
Page 4