REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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DAVID MCCLEAN LIMITED |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE YEAR ENDED 31 DECEMBER 2015 |
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FOR |
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DAVID MCCLEAN LIMITED |
DAVID MCCLEAN LIMITED (REGISTERED NUMBER: NI610640) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 | to | 3 |
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Notes to the Abbreviated Accounts | 4 | to | 5 |
DAVID MCCLEAN LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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17 Clarendon Road |
Clarendon Dock |
Belfast |
Co. Antrim |
BT1 3BG |
DAVID MCCLEAN LIMITED (REGISTERED NUMBER: NI610640) |
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ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
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31.12.15 | 31.12.14 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Investments |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
DAVID MCCLEAN LIMITED (REGISTERED NUMBER: NI610640) |
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ABBREVIATED BALANCE SHEET - continued |
31 DECEMBER 2015 |
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The financial statements were authorised for issue by the director on
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DAVID MCCLEAN LIMITED (REGISTERED NUMBER: NI610640) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Financial reporting standard 102 - reduced disclosure exemptions |
The company has taken advantage of the following disclosure exemption in preparing these financial statements, |
as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": |
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• | the requirements of Section 7 Statement of Cash Flows. |
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Significant judgements and estimates |
In preparing these financial statements the director has made the following judgements: |
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Establish whether there are indicators of impairment of the company's tangible assets. Factors taken into |
consideration in reaching such a decision include the economic viability and expected future financial |
performance of the asset and the business in general. |
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Consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that |
the estimates remains reasonable. |
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Consider the recoverability of debtors and work in progress and the need for impairment provisions. These |
considerations are undertaken regularly by the director, and especially at the year end date. Factors taken into |
account include historical experience, current market conditions and knowledge of the sector. Amounts |
identified as irrecoverable will be provided against in the relevant period. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Work in progress |
Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow |
moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling |
costs. Cost includes all direct costs and an appropriate proportion of fixed ans variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Pension costs |
The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss |
account in the period in which they become payable in accordance with the rules of the scheme. |
DAVID MCCLEAN LIMITED (REGISTERED NUMBER: NI610640) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
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1. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing |
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of |
the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are |
depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations |
under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is |
charged to the profit and loss account over the period of the lease and represents a constant proportion of the |
balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible |
fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of |
future finance payments is included within creditors. Finance charges are allocated to accounting periods over |
the length of the contract and represent a constant proportion of the ba;lance of capital repayments outstanding. |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2015 |
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Additions |
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At 31 December 2015 |
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DEPRECIATION |
At 1 January 2015 |
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Charge for year |
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At 31 December 2015 |
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NET BOOK VALUE |
At 31 December 2015 |
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At 31 December 2014 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.15 | 31.12.14 |
value: | £ | £ |
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Ordinary | 1 | 1 | 1 |
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4. | CONTROL |
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The company is controlled by the director who owns 100% of the called up share capital. |