Dunaverty Limited

Notes to the Financial Statements for the Year Ended 31 December 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: 6 Kilnadore Road, Cushendall, Co. Antrim, BT44 0SG.

General information
The presentational and functional currency of the Company is pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements were authorised for issue by the Board on 29 September 2025.

Audit report

In accordance with the provisions of section 444 of the Companies Act 2006, the directors have not delivered a copy of the audit report with these financial statements.The Independent Auditor's Report was unqualified. and there were no matters which the auditor drew attention by way of emphasis. The name of the Senior Statutory Auditor who signed the audit report on 29 September 2025 was Sean McIlhatton, who signed for and on behalf of Stevenson & Wilson.

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 passenger fares together with cost recoveries and subsidies receivable from the Department of Infrastructure.

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.

Dunaverty Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Government grants

Government grants and subsidies are accounted for under the accrual model and are recognised when it is reasonable to expect that the grant or subsidy will be received and that all related conditions will be met, usually on submission of a valid claim for payment.

Revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants and subsidies that become receivable as compensation for expenses already incurred are recognised in income in the period in which it becomes receivable.

Capital grants are recognised in income on a systematic basis over the expected useful life of the asset.

Tax

Current tax is recognised as the amount of income tax payable in respect of the profit for the current and past periods. It is calculated using the tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax is measured on an undiscounted basis. It is calculated using the tax rates that have been enacted or substantively enacted by the reporting date and which 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
Office equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.

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.

Dunaverty Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

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.

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 directors) during the year, was 25 (2023 - 23).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	7,644	7,644
Additions	798	798
At 31 December 2024	8,442	8,442
Depreciation
At 1 January 2024	1,913	1,913
Charge for the year	1,633	1,633
At 31 December 2024	3,546	3,546
Carrying amount
At 31 December 2024	4,896	4,896
At 31 December 2023	5,731	5,731

Dunaverty Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

5

Debtors

Current	2024 £	2023 £
Trade debtors	80,569	154,619
Prepayments and accrued income	138,299	16,895
Other debtors	18,989	14,427
	237,857	185,941

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Trade creditors	90,126	94,942
Other creditors	21,251	20,127
Accruals and deferred income	236,436	202,299
	347,813	317,368

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	1	1	1	1