D McMullan (Developments) Ltd |
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Chartered Accountants' report to the directors |
on the unaudited financial statements of D McMullan (Developments) Ltd |
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In accordance with the terms of our engagement letter dated 4 October 2011 and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
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This report is made to the company's board of directors 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 D McMullan (Developments) Ltd and its Board of Directors, as a body, for our work or for this report. |
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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 compliation of financial statements. |
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You have acknowledged on the balance sheet for the year ended 30 April 2016 your duty to ensure that the company has kept adequate accounting records and to prepare financial statements that give a true and fair view under Companies Act 2006. You consider that the company is exempt from the statutory audit requirement for the year. |
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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. |
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EM Accountants |
Chartered Accountants |
42A - 44A New Row |
Coleraine |
BT52 1AF |
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30 January 2017 |
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D McMullan (Developments) Ltd |
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Balance Sheet (continued) |
Directors' statements required by Sections 475(2) and (3) |
as at 30 April 2016 |
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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Daniel McMullan |
Director |
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Registration number |
NI045343 |
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Approved by the board on 30 January 2017
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D McMullan (Developments) Ltd
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Notes to the Abbreviated Accounts |
for the year ended 30 April 2016
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover |
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Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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Depreciation |
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Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
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Plant and machinery |
12.5% reducing balance
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Motor vehicles |
25% reducing balance
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Stocks |
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Stock is valued at the lower of cost and net realisable value. |
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The term 'cost' should be interpreted as meaning the total historical cost of bringing the relevant stock to its existing condition and location. |
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The net realisable value is the expected sale price of the relevant stock in the condition in which it is expected to be sold in the traders normal selling market. |
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Deferred taxation |
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Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
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2 |
Intangible fixed assets |
£ |
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Cost |
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At 1 May 2015 |
87,497 |
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At 30 April 2016 |
87,497 |
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Amortisation |
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At 1 May 2015 |
52,500 |
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Provided during the year |
4,375 |
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At 30 April 2016 |
56,875 |
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Net book value |
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At 30 April 2016 |
30,622 |
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At 30 April 2015 |
34,997 |
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3 |
Tangible fixed assets |
£ |
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Cost |
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At 1 May 2015 |
118,445 |
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At 30 April 2016 |
118,445 |
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Depreciation |
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At 1 May 2015 |
88,202 |
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Charge for the year |
4,351 |
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At 30 April 2016 |
92,553 |
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Net book value |
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At 30 April 2016 |
25,892 |
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At 30 April 2015 |
30,243 |
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4 |
Share capital |
Nominal |
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2016 |
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2016 |
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2015 |
value |
Number |
£ |
£ |
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Allotted, called up and fully paid: |
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Ordinary shares
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£1 each |
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2 |
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2 |
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2 |
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