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REGISTERED NUMBER: SC590213 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DRUMMAIR LTD

DRUMMAIR LTD (REGISTERED NUMBER: SC590213)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

DRUMMAIR LTD

COMPANY INFORMATION
for the year ended 31 MARCH 2023







DIRECTORS: S S Mair
Mrs D Mair





REGISTERED OFFICE: 10 Bourtree Road
Hamilton
United Kingdom
ML3 8QA





REGISTERED NUMBER: SC590213 (Scotland)





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

DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 53,633 65,904

CURRENT ASSETS
Stocks 12,081 7,941
Debtors 5 8,038 8,383
Cash at bank and in hand 12,641 20,362
32,760 36,686
CREDITORS
Amounts falling due within one
year

6

(58,961

)

(48,362

)
NET CURRENT LIABILITIES (26,201 ) (11,676 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,432

54,228

CREDITORS
Amounts falling due after more
than one year

7

(36,612

)

(39,815

)
NET (LIABILITIES)/ASSETS (9,180 ) 14,413

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (9,280 ) 14,313
SHAREHOLDERS' FUNDS (9,180 ) 14,413

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Board of Directors and authorised for issue on 21 March 2024 and were signed on its behalf by:





Mrs D Mair - Director


DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 MARCH 2023

1. STATUTORY INFORMATION

Drummair Ltd is a private company, limited by shares, registered in Scotland, registration number SC590213. The registered office is 10 Bourtree Road, Hamilton, United Kingdom, ML3 8QA.

The principal activity of the company is that of a public house.

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 (£).

Going concern
At the year end, the company had net current liabilities of £26,201. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Significant judgements and estimates
In preparing these financial statements, the directors are 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.

DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued

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.

Sale of Goods
Revenue is recognised when the significant risks and rewards of ownership have been transferred to the customer, recovery of the consideration is probable, the associated costs and possible return of goods can be estimated reliably, there is no continuing management involvement with the goods, and the amount of revenue can be measured reliably.

Government grants - COVID
COVID related local authority grant funding is recognised on receipt, whereas grant funding received in relation to the Job Retention Scheme is recognised in the period in which the associated wages are paid.

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.
Land and buildings - 11% on cost
Plant and machinery etc - 20% on reducing balance

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.


DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Short term employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in profit and loss in the period in which they are incurred. A liability is recognised for the amount expected to be paid if the company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 10 ) .

DRUMMAIR LTD (REGISTERED NUMBER: SC590213)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 80,000 27,453 107,453
Additions - 1,136 1,136
At 31 March 2023 80,000 28,589 108,589
DEPRECIATION
At 1 April 2022 35,556 5,993 41,549
Charge for year 8,888 4,519 13,407
At 31 March 2023 44,444 10,512 54,956
NET BOOK VALUE
At 31 March 2023 35,556 18,077 53,633
At 31 March 2022 44,444 21,460 65,904

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 8,038 8,383

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,556 5,556
Trade creditors 9,907 8,104
Taxation and social security 32,961 31,215
Other creditors 10,537 3,487
58,961 48,362

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 36,612 39,815

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DRUMMAIR LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drummair Ltd for the year ended 31 March 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Drummair Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drummair Ltd and state those matters that we have agreed to state to the Board of Directors of Drummair Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Drummair Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Drummair Ltd. You consider that Drummair Ltd 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 financial statements of Drummair Ltd. 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 statutory financial statements.






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


Date: .............................................