D_MCCLOY_LIMITED_31_Mar_2026_companies_house_set_of

D MCCLOY LIMITED

Chartered accountant's report to the board of directors on the unaudited statutory abridged financial statements of D MCCLOY LIMITED

Year ended

31 March 2026

In accordance with the engagement letter dated 17 May 2023, and in order to assist you to fulfil your duties under the Companies Act 2006, I have compiled the

abridged financial statements

of the company which comprise the income statement, abridged statement of financial position and related notes from the accounting records and information and explanations you have given to me.

This report is made to the Company’s Board of Directors, as a body, in accordance with the terms of our engagement. My work has been undertaken so that I might compile the

abridged financial statements

that I have been engaged to compile, report to the Company’s Board of Directors that I have done so, and state those matters that I have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company’s Board of Directors, as a body, for my work, or for this report.

I have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the Code of Ethics for Members published by the Institute relating to members undertaking the compilation of

abridged financial statements

You have acknowledged on the statement of financial position for the year ended

31 March 2026

your duty under the Companies Act 2006 to ensure that the company has kept adequate accounting records and prepared

abridged financial statements

which give a true and fair view of the assets, liabilities and financial position of the company at the end of its year and of its profit or loss for that year, and otherwise comply with the provisions of the Companies Act 2006 relating to

abridged financial statements

so far as they are applicable to the company. You consider that the company is exempt from the statutory requirement for an audit for the year.

I have not been instructed to carry out an audit of the

abridged financial statements

. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the

abridged financial statements

As a practising member of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements detailed at www.charteredaccountants.ie/Professional-Standards/Home.

Hill Vellacott

22 Great Victoria Street

Belfast

BT2 7BA

United Kingdom

Date:

7 October 2026

		2026	2025
Fixed assets
Tangible assets	5	976,237		905,269
Investments	5	1,000		1,000
		977,237		906,269
Current assets
Stocks		923,221		789,224
Debtors		303,263		455,629
Cash at bank and in hand		35,605		30,035
		1,262,089		1,274,888
Creditors: amounts falling due within one year		(1,634,005	)	(1,607,358	)
Net current liabilities		(371,916	)	(332,470	)
Total assets less current liabilities		605,321		573,799
Creditors: amounts falling due after more than one year	6	(302,733	)	(300,105	)
Provisions for liabilities		(89,045	)	(67,800	)
Net assets		213,543		205,894
Capital and reserves
Called up share capital		2		2
Profit and loss account		213,541		205,892
Shareholders funds		213,543		205,894

D MCCLOY LIMITED

Notes to the Abridged Financial Statements

Year ended

31 March 2026

1 General information

The company is a private company limited by shares and is registered in Northern Ireland. The address of the registered office is

10 Creagh Road

Toomebridge

Co Antrim

BT41 3SE

, United Kingdom.

The principal activity of the company is that of sale of specialised goods & freight transport.

2 Statement of compliance

These

abridged financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

abridged financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

abridged financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Development costs

10% straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings	10% straight line
Plant and machinery	10% reducing balance
Fixtures, fittings and equipment	25% reducing balance
Motor vehicles	15% reducing balance

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was

(2025:

5 Fixed assets

	Intangible assets	Tangible assets	Investments	Total
	£	£	£	£
Cost
At 1 April 2025	14,500	1,659,288	1,000	1,674,788
Additions	-	115,292	-	115,292
At 31 March 2026	14,500	1,774,580	1,000	1,790,080
Amortisation, depreciation and impairment
At 1 April 2025	14,500	754,019	-	768,519
Charge	-	44,324	-	44,324
At 31 March 2026	14,500	798,343	-	812,843
Carrying amount
At 31 March 2026	-	976,237	1,000	977,237
At 31 March 2025	-	905,269	1,000	906,269

6 Creditors: amounts falling due after more than one year

The bank overdraft and loans are secured on the following:

Debenture over the company's assets

Legal mortgage over the property at 10 Creagh Road, Toombridge

7 Director's advances, credit and guarantees

During the year the director entered into the following advances and credits with the company:

2026

Donal McCloy

Balance brought forward: (£281,479);

Advances/(credits) to the director: (£241,561);

Balance o/standing: £523,040.

2025

Donal McCloy

Balance brought forward: (£149,666);

Advances/(credits) to the director: (£131,813);

Balance o/standing: £281,479.

		2026		2025
	Note	£		£
Fixed assets
Tangible assets	5	976,237		905,269
Investments	5	1,000		1,000
		977,237		906,269
Current assets
Stocks		923,221		789,224
Debtors		303,263		455,629
Cash at bank and in hand		35,605		30,035
		1,262,089		1,274,888
Creditors: amounts falling due within one year		(1,634,005	)	(1,607,358	)
Net current liabilities		(371,916	)	(332,470	)
Total assets less current liabilities		605,321		573,799
Creditors: amounts falling due after more than one year	6	(302,733	)	(300,105	)
Provisions for liabilities		(89,045	)	(67,800	)
Net assets		213,543		205,894
Capital and reserves
Called up share capital		2		2
Profit and loss account		213,541		205,892
Shareholders funds		213,543		205,894