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Registration number: NI010383

Moore (Unidrill) Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Moore (Unidrill) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 11

 

Moore (Unidrill) Limited

Company Information

Directors

Mr Stewart Samuel Moore

Mrs Joan Elaine Moore

Miss Elle E N Moore

Mr Sam Moore

Company secretary

Mrs Joan Elaine Moore

Registered office

50 Kirk Road
Ballymoney
BT53 8HB

Accountants

C.D. Diamond & Company
Chartered Accountants & Registered Auditors
46 Hill Street
Belfast
Co. Antrim
BT1 2LB

 

Moore (Unidrill) Limited

(Registration number: NI010383)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,029,207

2,024,400

Other financial assets

6

872,823

903,535

 

2,902,030

2,927,935

Current assets

 

Stocks

7

4,896

30,194

Debtors

8

108,546

49,186

Cash at bank and in hand

 

899,367

767,441

 

1,012,809

846,821

Prepayments and accrued income

 

3,132

2,963

Creditors: Amounts falling due within one year

(57,261)

(51,924)

Net current assets

 

958,680

797,860

Total assets less current liabilities

 

3,860,710

3,725,795

Provisions for liabilities

(51,524)

(52,210)

Accruals and deferred income

 

(28,600)

(30,440)

Net assets

 

3,780,586

3,643,145

Capital and reserves

 

Called up share capital

9

75,000

75,000

Retained earnings

3,705,586

3,568,145

Shareholders' funds

 

3,780,586

3,643,145

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

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.

 

Moore (Unidrill) Limited

(Registration number: NI010383)
Abridged Balance Sheet as at 30 April 2024

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 Board on 16 October 2024 and signed on its behalf by:
 

.........................................
Mr Sam Moore
Director

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
50 Kirk Road
Ballymoney
BT53 8HB

These financial statements were authorised for issue by the Board on 16 October 2024.

2

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 abridged 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 abridged 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 the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Buildings

2% straight line & 10% straight line

Motor Vehicles

25% straight line

Plant & Machinery

10% straight line

Office Equipment

20% straight line

Small Tools

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

1,927,846

37,973

103,864

747,172

2,816,855

Additions

-

1,003

-

57,100

58,103

At 30 April 2024

1,927,846

38,976

103,864

804,272

2,874,958

Depreciation

At 1 May 2023

105,969

35,647

85,577

565,262

792,455

Charge for the year

2,475

2,127

10,966

37,728

53,296

At 30 April 2024

108,444

37,774

96,543

602,990

845,751

Carrying amount

At 30 April 2024

1,819,402

1,202

7,321

201,282

2,029,207

At 30 April 2023

1,821,877

2,326

18,287

181,910

2,024,400

Included within the net book value of land and buildings above is £1,819,402 (2023 - £1,821,877) in respect of freehold land and buildings.
 

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

5

Investments

Cost or valuation

Provision

Carrying amount

At 30 April 2024

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Other investments

The market value of the listed investments at 30 April 2024 was £872,823 (2023 - £770,976).

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 May 2023

903,535

-

903,535

Fair value adjustments

101,847

-

101,847

At 30 April 2024

1,005,382

-

1,005,382

Impairment

Carrying amount

At 30 April 2024

1,005,382

-

1,005,382

Out of balance to Other non-current financial assets category in the current year

-

132,559

132,559

7

Stocks

2024
£

2023
£

Other inventories

4,896

30,194

8

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

75,000

75,000

75,000

75,000

       

10

Dividends

2024

2023

£

£

Interim dividend of £0.10 (2023 - £0.24) per ordinary share

7,428

18,063

 

 

11

Related party transactions

 

Moore (Unidrill) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

25,028

32,050