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Registered number: 04435517
Drumnyne Limited
Financial Statements
For The Year Ended 31 March 2023
Hill Wooldridge Accountants Ltd
Chartered Certified Accountants
55 Crown Street
Brentwood
Essex
CM14 4BD
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04435517
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 250,000 250,000
Tangible Assets 5 29,485 29,543
279,485 279,543
CURRENT ASSETS
Debtors 6 264 14,737
Cash at bank and in hand 6,647 8,238
6,911 22,975
Creditors: Amounts Falling Due Within One Year 7 (57,896 ) (80,428 )
NET CURRENT ASSETS (LIABILITIES) (50,985 ) (57,453 )
TOTAL ASSETS LESS CURRENT LIABILITIES 228,500 222,090
NET ASSETS 228,500 222,090
CAPITAL AND RESERVES
Called up share capital 8 257,500 257,500
Profit and Loss Account (29,000 ) (35,410 )
SHAREHOLDERS' FUNDS 228,500 222,090
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Louise Lewis
Director
27th March 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Drumnyne Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04435517 . The registered office is 55 Crown Street, Brentwood, Essex, CM14 4BD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are sporting access rights. It is the opinion of the directors that no annual amortisiation charge is required.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold No depreciation charged
Plant & Machinery 15-20% of net book value per year
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
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4. Intangible Assets
Other
£
Cost
As at 1 April 2022 250,000
As at 31 March 2023 250,000
Net Book Value
As at 31 March 2023 250,000
As at 1 April 2022 250,000
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2022 29,156 9,940 39,096
As at 31 March 2023 29,156 9,940 39,096
Depreciation
As at 1 April 2022 - 9,553 9,553
Provided during the period - 58 58
As at 31 March 2023 - 9,611 9,611
Net Book Value
As at 31 March 2023 29,156 329 29,485
As at 1 April 2022 29,156 387 29,543
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 14,737
Other taxes and social security 264 -
264 14,737
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 21,707 20,168
Other taxes and social security - 2,861
Accruals and deferred income 900 -
Directors' loan accounts 35,289 57,399
57,896 80,428
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 257,500 257,500
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