Company registration number SC450669 (Scotland)
DRUIM CHAIRIDH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
DRUIM CHAIRIDH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
DRUIM CHAIRIDH LIMITED
BALANCE SHEET
AS AT
31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
77
105,495
Current assets
Stocks
-
0
14,130
Debtors
5
301
343
Cash at bank and in hand
43,786
949
44,087
15,422
Creditors: amounts falling due within one year
6
(248,226)
(254,223)
Net current liabilities
(204,139)
(238,801)
Net liabilities
(204,062)
(133,306)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(204,162)
(133,406)
Total equity
(204,062)
(133,306)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 3 October 2023
Dr John Lumsden
Director
Company Registration No. SC450669
DRUIM CHAIRIDH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information

Druim Chairidh Limited is a private company limited by shares incorporated in Scotland. The registered office is 16a Merchiston Crescent, Edinburgh, United Kingdom, EH10 5AX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2%
Plant and equipment
25%
Computers
25%
Motor vehicles
25%
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

DRUIM CHAIRIDH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
DRUIM CHAIRIDH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 June 2022
110,342
28,048
138,390
Disposals
(110,342)
(10,660)
(121,002)
At 31 May 2023
-
0
17,388
17,388
Depreciation and impairment
At 1 June 2022
5,621
27,274
32,895
Depreciation charged in the year
472
697
1,169
Eliminated in respect of disposals
(6,093)
(10,660)
(16,753)
At 31 May 2023
-
0
17,311
17,311
Carrying amount
At 31 May 2023
-
0
77
77
At 31 May 2022
104,721
774
105,495
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
301
343
6
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
247,632
253,629
Accruals and deferred income
594
594
248,226
254,223
7
Directors' transactions

Dividends totalling £0 (2022 - £0) were paid in the year in respect of shares held by the company's directors.

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Dr John Lumsden - DLA
-
(253,628)
19,704
(13,707)
(247,631)
(253,628)
19,704
(13,707)
(247,631)
DRUIM CHAIRIDH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
7
Directors' transactions
(Continued)
- 5 -
2023-05-312022-06-01falseCCH SoftwareCCH Accounts Production 2023.100No description of principal activityDr J LumsdenMrs S LumsdenSC4506692022-06-012023-05-31SC4506692023-05-31SC4506692022-05-31SC450669core:LandBuildings2023-05-31SC450669core:OtherPropertyPlantEquipment2023-05-31SC450669core:LandBuildings2022-05-31SC450669core:OtherPropertyPlantEquipment2022-05-31SC450669core:CurrentFinancialInstrumentscore:WithinOneYear2023-05-31SC450669core:CurrentFinancialInstrumentscore:WithinOneYear2022-05-31SC450669core:CurrentFinancialInstruments2023-05-31SC450669core:CurrentFinancialInstruments2022-05-31SC450669core:ShareCapital2023-05-31SC450669core:ShareCapital2022-05-31SC450669core:RetainedEarningsAccumulatedLosses2023-05-31SC450669core:RetainedEarningsAccumulatedLosses2022-05-31SC450669bus:Director12022-06-012023-05-31SC450669core:LandBuildingscore:OwnedOrFreeholdAssets2022-06-012023-05-31SC450669core:PlantMachinery2022-06-012023-05-31SC450669core:ComputerEquipment2022-06-012023-05-31SC450669core:MotorVehicles2022-06-012023-05-31SC4506692021-06-012022-05-31SC450669core:LandBuildings2022-05-31SC450669core:OtherPropertyPlantEquipment2022-05-31SC4506692022-05-31SC450669core:LandBuildings2022-06-012023-05-31SC450669core:OtherPropertyPlantEquipment2022-06-012023-05-31SC450669core:WithinOneYear2023-05-31SC450669core:WithinOneYear2022-05-31SC450669bus:PrivateLimitedCompanyLtd2022-06-012023-05-31SC450669bus:SmallCompaniesRegimeForAccounts2022-06-012023-05-31SC450669bus:FRS1022022-06-012023-05-31SC450669bus:AuditExempt-NoAccountantsReport2022-06-012023-05-31SC450669bus:CompanySecretary12022-06-012023-05-31SC450669bus:FullAccounts2022-06-012023-05-31xbrli:purexbrli:sharesiso4217:GBP