REGISTERED NUMBER: NI652549 (Northern Ireland)

DWG TOOLS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs Emma Wilson

Mr Darren Denis Wilson

REGISTERED OFFICE:

160 Moira Road

Glenavy

Crumlin

Co. Antrim

BT29 4LR

REGISTERED NUMBER:

NI652549 (Northern Ireland)

ACCOUNTANTS:

McAleer Jackson Ltd

Chartered Accountants

Arthur House

41 Arthur Street

BELFAST

BT1 4GB

BANKERS:

Ulster Bank

27 Main Street

Crumlin

Co. Antrim

BT29 4UR

SOLICITORS:

Joseph Lockhart & Son

24 Bachelors Walk

Lisburn

Co Antrim

BT28 1XJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

McAleer Jackson Ltd

Chartered Accountants

Arthur House

41 Arthur Street

BELFAST

BT1 4GB

24 September 2025

FIXED ASSETS

Intangible assets

4

76,995

96,244

CURRENT ASSETS

Debtors

5

1,683

10,130

Cash at bank and in hand

1,981

12,846

3,664

22,976

CREDITORS

Amounts falling due within one year

6

316,509

407,733

NET CURRENT LIABILITIES

(312,845

)

(384,757

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(235,850

)

(288,513

)

CREDITORS

Amounts falling due after more than one year

7

539,866

417,327

NET LIABILITIES

(775,716

)

(705,840

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(775,816

)

(705,940

)

(775,716

)

(705,840

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 September 2025 and were signed on its behalf by:

Mr Darren Denis Wilson - Director

Mrs Emma Wilson - Director

1.	STATUTORY INFORMATION

DWG Tools Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are shown in pounds sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less an accumulated amortisation and any accumulated impairment losses.

Website development is being amortised over its useful life of 10 years.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Going concern

The Company finances its working capital requirement through the financial support of related parties, its bankers and other finance providers. Whilst the Company has reported current year losses and net current liabilities at the balance sheet date, management has prepared financial projections that indicate that the Company will generate positive cash flows in the short to medium term.

The directors have assessed the entity's current financial arrangements and expect that on the basis of their projections, and on the basis of continued support from the related parties and their bankers and provision of working capital funding as required, the Company will continue as a going concern. The financial statements have therefore been prepared on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

192,489

AMORTISATION

At 1 January 2024

96,245

Charge for year

19,249

At 31 December 2024

115,494

NET BOOK VALUE

At 31 December 2024

76,995

At 31 December 2023

96,244

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

1,683

10,130

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

46,330

49,839

Trade creditors

190,392

66,594

Taxation and social security

39,791

58,015

Other creditors

39,996

233,285

316,509

407,733

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

539,866

417,327

8.	CONTINGENT LIABILITIES

The company provides a guarantee on banking facilities provided to Denis Wilson of Glenavy Limited, a company that shares common shareholders. The guarantee is collateralised by a Debenture over the company's assets.

9.	RELATED PARTY DISCLOSURES

Denis Wilson of Glenavy Ltd

Mr Darren Wilson & Mrs Emma Wilson are directors & shareholders of Denis Wilson of Glenavy Ltd.

As at 31 December 2024, DWG Tools Ltd owed £539,866 to the related party. This amount has been included within Other Creditors amounts falling due after more than one year.