| North Down Construction Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of North Down Construction Limited for the year ended 31 March 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of North Down Construction Limited for the year ended 31 March 2015 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us. |
| 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 compilation of financial statements. |
| This report is made solely to the Board of Directors of North Down Construction Limited, as a body, in accordance with the terms of our engagement letter dated 1 September 2015. Our work has been undertaken solely to prepare for your approval the accounts of North Down Construction Limited and state those matters that we have agreed to state to the Board of Directors of North Down Construction Limited, as a body, 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 North Down Construction Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that North Down Construction Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of North Down Construction Limited. You consider that North Down Construction Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the accounts of North Down Construction Limited. 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 abbreviated accounts. |
|
| Roger Morrison & Co Limited |
| Chartered Accountants |
| 95 Cregagh Road |
| Belfast |
| Northern Ireland |
| BT6 8PY |
|
| 11 December 2015 |
|
| North Down Construction Limited |
| Registered number: |
NI005826 |
| Abbreviated Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
2 |
|
|
73,666 |
|
|
26,243 |
| Investments |
3 |
|
|
1,026,809 |
|
|
715,531 |
|
|
|
|
1,100,475 |
|
|
741,774 |
|
| Current assets |
| Stocks |
|
|
231,140 |
|
|
221,609 |
| Debtors |
|
|
145,252 |
|
|
98,343 |
| Investments held as current assets |
|
|
668,782 |
|
|
527,198 |
| Cash at bank and in hand |
|
|
225,085 |
|
|
677,696 |
|
|
|
1,270,259 |
|
|
1,524,846 |
|
| Creditors: amounts falling due within one year |
|
|
(37,989) |
|
|
(31,605) |
|
| Net current assets |
|
|
|
1,232,270 |
|
|
1,493,241 |
|
| Total assets less current liabilities |
|
|
|
2,332,745 |
|
|
2,235,015 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(22,539) |
|
|
- |
|
|
|
| Net assets |
|
|
|
2,310,206 |
|
|
2,235,015 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
4 |
|
|
15,012 |
|
|
15,012 |
| Revaluation reserve |
|
|
|
111,017 |
|
|
- |
| Profit and loss account |
|
|
|
2,184,177 |
|
|
2,220,003 |
|
| Shareholders' funds |
|
|
|
2,310,206 |
|
|
2,235,015 |
|
|
|
|
|
|
|
|
| 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. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| 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. |
|
|
|
| M H McGimpsey |
| Director |
| Approved by the board on 11 December 2015 |
|
| North Down Construction Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
|
|
Turnover |
|
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. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Plant and machinery |
20% straight line |
|
Motor vehicles |
25% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
Deferred taxation |
|
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. |
|
|
Pensions |
|
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. |
|
| 2 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 April 2014 |
62,250 |
|
Additions |
66,724 |
|
At 31 March 2015 |
128,974 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
36,007 |
|
Charge for the year |
19,301 |
|
At 31 March 2015 |
55,308 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
73,666 |
|
At 31 March 2014 |
26,243 |
|
|
|
|
|
|
|
|
| 3 |
Investments |
£ |
|
|
Cost |
|
At 1 April 2014 |
715,531 |
|
Additions |
311,278 |
|
|
At 31 March 2015 |
1,026,809 |
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
15,012 |
|
15,012 |
|
15,012 |
|
|
|
|
|
|
|
|
|
