DRUMHILL TRACTORS (LISBURN) LTD

Company Registration Number:
NI694651 (Northern Ireland)

Unaudited abridged accounts for the year ended 28 February 2024

Period of accounts

Start date: 17 February 2023

End date: 28 February 2024

DRUMHILL TRACTORS (LISBURN) LTD

Contents of the Financial Statements

for the Period Ended 28 February 2024

Balance sheet
Notes

DRUMHILL TRACTORS (LISBURN) LTD

Balance sheet

As at 28 February 2024


Notes

2024


£
Fixed assets
Tangible assets: 3 1,695
Total fixed assets: 1,695
Current assets
Stocks: 57,330
Debtors: 4 20,340
Cash at bank and in hand: 26,095
Total current assets: 103,765
Creditors: amounts falling due within one year:   (89,610)
Net current assets (liabilities): 14,155
Total assets less current liabilities: 15,850
Total net assets (liabilities): 15,850
Capital and reserves
Called up share capital: 2
Profit and loss account: 15,848
Shareholders funds: 15,850

The notes form part of these financial statements

DRUMHILL TRACTORS (LISBURN) LTD

Balance sheet statements

For the year ending 28 February 2024 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 08 April 2024
and signed on behalf of the board by:

Name: Mr Matthew Dorman
Status: Director

The notes form part of these financial statements

DRUMHILL TRACTORS (LISBURN) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. 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 basis:Plant & Machinery - 25% Reducing BalanceComputer Equipment - 25% Reducing Balance

DRUMHILL TRACTORS (LISBURN) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

2. Employees

2024
Average number of employees during the period 5

DRUMHILL TRACTORS (LISBURN) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

3. Tangible Assets

Total
Cost £
Additions 2,260
At 28 February 2024 2,260
Depreciation
Charge for year 565
At 28 February 2024 565
Net book value
At 28 February 2024 1,695

DRUMHILL TRACTORS (LISBURN) LTD

Notes to the Financial Statements

for the Period Ended 28 February 2024

4. Debtors

2024
£
Debtors due after more than one year: 20,340