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Registration number: NI641142

Dunlarg Builders Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Dunlarg Builders Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

Dunlarg Builders Limited

Company Information

Director

Michael Nugent

Registered office

213 Keady Road
Armagh
Co.Armagh.
BT60 3EL

Accountants

SP McKeown & Co Ltd
Chartered Certified Accountants, Registered Auditors and Tax Advisors5 Lower Catherine Street
Newry
Co Down
BT35 6BE

 

Dunlarg Builders Limited

(Registration number: NI641142)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

29,530

26,714

Current assets

 

Debtors

5

8,917

3,323

Cash at bank and in hand

 

8,310

4,004

 

17,227

7,327

Creditors: Amounts falling due within one year

6

(88,219)

(61,907)

Net current liabilities

 

(70,992)

(54,580)

Total assets less current liabilities

 

(41,462)

(27,866)

Creditors: Amounts falling due after more than one year

6

(13,250)

(12,600)

Provisions for liabilities

(5,611)

(5,076)

Net liabilities

 

(60,323)

(45,542)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(60,423)

(45,642)

Shareholders' deficit

 

(60,323)

(45,542)

For the financial year ending 30 September 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.

Approved and authorised by the director on 24 June 2025
 

.........................................
Michael Nugent
Director

   
     
 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
213 Keady Road
Armagh
Co.Armagh.
BT60 3EL
Northern Ireland

These financial statements were authorised for issue by the director on 24 June 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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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

Motor Vehicles

20% Reducing balance

Plant and machinery

20% Reducing balance

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.

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

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 0).

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

25,400

14,683

40,083

Additions

14,500

-

14,500

Disposals

(8,400)

-

(8,400)

At 30 September 2024

31,500

14,683

46,183

Depreciation

At 1 October 2023

9,099

4,270

13,369

Charge for the year

5,300

2,083

7,383

Eliminated on disposal

(4,099)

-

(4,099)

At 30 September 2024

10,300

6,353

16,653

Carrying amount

At 30 September 2024

21,200

8,330

29,530

At 30 September 2023

16,301

10,413

26,714

5

Debtors

Current

2024
£

2023
£

Other debtors

8,917

3,323

 

8,917

3,323

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

11,533

7,200

Trade creditors

 

132

120

Taxation and social security

 

16,362

1,783

Accruals and deferred income

 

30,458

22,947

Other creditors

 

29,734

29,857

 

88,219

61,907

Creditors: amounts falling due after more than one year

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

13,250

12,600

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Share of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

6,028

12,600

Finance lease liabilities

7,222

-

13,250

12,600

Current loans and borrowings

2024
£

2023
£

Bank borrowings

7,200

7,200

Finance lease liabilities

4,333

-

11,533

7,200

Bank borrowings

Bounce back loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 23 June 2026. The carrying amount at year end is £13,228 (2023 - £19,800).

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil per each Ordinary Share

-

-

 

 
 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

10

Related party transactions

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Transactions with the director

2024

At 1 October 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Michael Nugent

Directors Loan

28,143

(76,489)

78,079

29,734

2023

At 1 October 2022
£

Advances to director
£

Repayments by director
£

At 30 September 2023
£

Michael Nugent

Directors Loan

33,132

(134,838)

129,850

28,143

 

Dunlarg Builders Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

6,285

-

In respect of the highest paid director:

2024
£

2023
£

Remuneration

6,285

-

Dividends paid to the director

2024
£

2023
£

Michael Nugent

Dividends

-

-