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REGISTERED NUMBER: SC514784 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DRUMS WIND LIMITED

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DRUMS WIND LIMITED

COMPANY INFORMATION
for the year ended 28 FEBRUARY 2023







DIRECTOR: A W J Fowlie





REGISTERED OFFICE: Millhill
Longside
Peterhead
Aberdeenshire
AB42 5BJ





REGISTERED NUMBER: SC514784 (Scotland)





ACCOUNTANTS: Thomas Barrie & Co LLP
Atlantic House
1a Cadogan Street
Glasgow
G2 6QE

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 936,762 1,005,921

CURRENT ASSETS
Debtors 5 291,287 238,675
Cash at bank 451,692 126,029
742,979 364,704
CREDITORS
Amounts falling due within one year 6 (97,158 ) (103,321 )
NET CURRENT ASSETS 645,821 261,383
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,582,583

1,267,304

PROVISIONS FOR LIABILITIES (158,085 ) (158,669 )
NET ASSETS 1,424,498 1,108,635

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,424,497 1,108,634
1,424,498 1,108,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

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.

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





A W J Fowlie - Director


DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Drums Wind Limited is a private company, limited by shares, registered in Scotland, registration number SC514784. The registered office is Millhill, Longside, Peterhead, AB42 5BJ.

The principal activity of the company is the production of electricity and provision of related services..

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational and functional currency of the financial statements is Pounds Sterling (£).

Significant judgements and estimates
In preparing these financial statements, the director is required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively

The following judgements and estimates have had the most significant effects on amounts recognised in the financial statements:

Plant and equipment
The estimates and assumptions made to determine asset lives require judgements to be made as regards useful lives and residual values. The useful lives and residual values of the company's financial assets are determined by management at the time the asset is acquired and reviewed annually for appropriateness. The lives are based on management experience with similar assets. The depreciation rates applied are outlined later in these notes.

Turnover
Turnover is measured at the fair value of consideration received or receivable, taking into account the amount of any discounts and rebates allowed by the entity, but excluding value added tax and other sales taxes.

Production of electricity
Income is recognised in the period in which the electricity has been generated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 5% on cost

The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable.

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents comprise cash balances.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 1,383,175
DEPRECIATION
At 1 March 2022 377,254
Charge for year 69,159
At 28 February 2023 446,413
NET BOOK VALUE
At 28 February 2023 936,762
At 28 February 2022 1,005,921

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 75,067 49,757
Amounts owed by associates 203,010 180,000
Other debtors 13,210 8,918
291,287 238,675

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 183 56,258
Taxation and social security 95,037 43,896
Other creditors 1,938 3,167
97,158 103,321

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

2023 2022
£    £   
A W J Fowlie
Balance outstanding at start of year - -
Amounts advanced 821 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 821 -

DRUMS WIND LIMITED (REGISTERED NUMBER: SC514784)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 FEBRUARY 2023

8. RELATED PARTY DISCLOSURES

Debtors include a loan to Fowlie Farms Ltd, a company in which Mr Fowlie is director and shareholder. Funds to the value of £180,000 have been advanced, all of which was outstanding at the year end.

Debtors also include a loan to FF Wind Energy Ltd, a company in which Mr Fowlie is director and shareholder. Funds to the value of £23,010 have been advanced, all of which was outstanding at the year end.