12 12 J.S. Dunlop Limited NI043104 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is general construction and maintenance work Digita Accounts Production Advanced 6.30.9574.0 true NI043104 2023-06-01 2024-05-31 NI043104 2024-05-31 NI043104 bus:OrdinaryShareClass1 2024-05-31 NI043104 core:CurrentFinancialInstruments 2024-05-31 NI043104 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 NI043104 core:Goodwill 2024-05-31 NI043104 core:LandBuildings 2024-05-31 NI043104 core:MotorVehicles 2024-05-31 NI043104 core:OtherPropertyPlantEquipment 2024-05-31 NI043104 bus:SmallEntities 2023-06-01 2024-05-31 NI043104 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 NI043104 bus:FilletedAccounts 2023-06-01 2024-05-31 NI043104 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI043104 bus:RegisteredOffice 2023-06-01 2024-05-31 NI043104 bus:Director2 2023-06-01 2024-05-31 NI043104 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 NI043104 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI043104 core:Goodwill 2023-06-01 2024-05-31 NI043104 core:LandBuildings 2023-06-01 2024-05-31 NI043104 core:MotorVehicles 2023-06-01 2024-05-31 NI043104 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 NI043104 core:PlantMachinery 2023-06-01 2024-05-31 NI043104 countries:NorthernIreland 2023-06-01 2024-05-31 NI043104 2023-05-31 NI043104 core:Goodwill 2023-05-31 NI043104 core:LandBuildings 2023-05-31 NI043104 core:MotorVehicles 2023-05-31 NI043104 core:OtherPropertyPlantEquipment 2023-05-31 NI043104 2022-06-01 2023-05-31 NI043104 2023-05-31 NI043104 bus:OrdinaryShareClass1 2023-05-31 NI043104 core:CurrentFinancialInstruments 2023-05-31 NI043104 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 NI043104 core:LandBuildings 2023-05-31 NI043104 core:MotorVehicles 2023-05-31 NI043104 core:OtherPropertyPlantEquipment 2023-05-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI043104

J.S. Dunlop Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

J.S. Dunlop Limited

(Registration number: NI043104)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

-

-

Tangible assets

6

281,912

222,083

 

281,912

222,083

Current assets

 

Stock and work in progress

7

284,781

427,555

Debtors

8

304,034

144,575

Cash at bank and in hand

 

663,450

540,875

 

1,252,265

1,113,005

Creditors: Amounts falling due within one year

9

(559,510)

(489,179)

Net current assets

 

692,755

623,826

Total assets less current liabilities

 

974,667

845,909

Provisions for liabilities

(68,964)

(54,007)

Net assets

 

905,703

791,902

Capital and reserves

 

Called up share capital

10

10,000

10,000

Retained earnings

895,703

781,902

Shareholders' funds

 

905,703

791,902

For the financial 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.

Director's 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 director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

J.S. Dunlop Limited

(Registration number: NI043104)
Balance Sheet as at 31 May 2024

Approved and authorised by the director on 12 February 2025
 

.........................................
Mr Wallace Dunlop
Director

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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: 48A Kirk Road, Ballymoney, Co Antrim, BT53 8HB.

These financial statements were authorised for issue by the director on 12 February 2025.

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 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 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.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tax

The tax expense for the period comprises current and 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.

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.

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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

Plant and machinery

15% per annum straight line basis

Motor vehicles

25% per annum straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% per annum straight line basis

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Stock and work in progress

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 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.

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.

Hire purchase

Assets held under hire purchase agreements are capitalised to tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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 the director) during the year, was 12 (2023 - 12).

4

Other operating income

2024

2023

£

£

Solar Panel income

1,968

610

Other income

105

-

2,073

610

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 June 2023

50,000

50,000

At 31 May 2024

50,000

50,000

Amortisation

At 1 June 2023

50,000

50,000

At 31 May 2024

50,000

50,000

Carrying amount

At 31 May 2024

-

-

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Tangible assets

Freehold land and buildings
£

Plant and machinery
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

6,057

392,062

265,828

663,947

Additions

-

2,905

127,037

129,942

Disposals

-

-

(15,525)

(15,525)

At 31 May 2024

6,057

394,967

377,340

778,364

Depreciation

At 1 June 2023

-

283,764

158,100

441,864

Charge for the year

-

27,785

42,328

70,113

Eliminated on disposal

-

-

(15,525)

(15,525)

At 31 May 2024

-

311,549

184,903

496,452

Carrying amount

At 31 May 2024

6,057

83,418

192,437

281,912

At 31 May 2023

6,057

108,298

107,728

222,083

7

Stock and work in progress

2024
£

2023
£

Stock and work in progress

284,781

427,555

8

Debtors

Current

2024
£

2023
£

Trade debtors

285,992

132,097

Prepayments

17,282

12,267

Other debtors

760

211

 

304,034

144,575

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

12

5,048

1,342

Trade creditors

 

290,131

270,413

Directors current account

 

66,837

65,748

Taxation and social security

 

97,276

82,015

Other creditors and accruals

 

100,218

69,661

 

559,510

489,179

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10,000

10,000

10,000

10,000

       

11

Related party transactions

Included in creditors falling due within one year is an amount of £66,837 (2023: £65,748) representing amounts owed by the company to the director.

Premises owned by the director are occupied by the company free of charge.

 

J.S. Dunlop Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

12

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

1,143

1,342

Hire purchase liabilities

3,905

-

5,048

1,342