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ARD CONTRACTS LTD

Registered Number
NI638141
(Northern Ireland)

Unaudited Financial Statements for the Year ended
30 April 2024

ARD CONTRACTS LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

Mark McGowan

Registered Address

13a Kilhoyle Road
Limavady
BT49 0PU

Registered Number

NI638141 (Northern Ireland)
ARD CONTRACTS LTD
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3392,001357,140
Investments4145,800-
537,801357,140
Current assets
Stocks532,912430,639
Debtors1,823,767789,327
Cash at bank and on hand1,191,809600,331
3,548,4881,820,297
Creditors amounts falling due within one year(2,127,575)(1,421,558)
Net current assets (liabilities)1,420,913398,739
Total assets less current liabilities1,958,714755,879
Creditors amounts falling due after one year(16,897)(64,458)
Net assets1,941,817691,421
Capital and reserves
Called up share capital100100
Profit and loss account1,941,717691,321
Shareholders' funds1,941,817691,421
The financial statements were approved and authorised for issue by the Director on 28 January 2025, and are signed on its behalf by:
Mark McGowan
Director
Registered Company No. NI638141
ARD CONTRACTS LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Revenue from rendering of services
Revenue 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Plant and Machinery - 10% straight line Fixtures and Fittings - 10% straight line Motor Vehicles - 10% straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year65
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 23489,732
Additions132,285
Disposals(52,335)
At 30 April 24569,682
Depreciation and impairment
At 01 May 23132,593
Charge for year50,322
On disposals(5,234)
At 30 April 24177,681
Net book value
At 30 April 24392,001
At 30 April 23357,140
4.Fixed asset investments

Total

£
Cost or valuation
Additions145,800
At 30 April 24145,800
Net book value
At 30 April 24145,800
At 30 April 23-