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REGISTERED NUMBER: SC383041 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

DRUMBAIN ENERGY LIMITED

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRUMBAIN ENERGY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: J R Crawford
Mrs C S W Crawford





SECRETARY: J R Crawford





REGISTERED OFFICE: Dowhill Farm
Turnberry
GIRVAN
Ayrshire
KA26 9JP





REGISTERED NUMBER: SC383041 (Scotland)





ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,498 25,267
Investments 5 1,824,929 1,824,929
Investment property 6 285,592 290,000
2,133,019 2,140,196

CURRENT ASSETS
Stocks 250 250
Debtors 7 1,534,713 1,515,792
Cash at bank 3,967 4,256
1,538,930 1,520,298
CREDITORS
Amounts falling due within one year 8 21,495 14,254
NET CURRENT ASSETS 1,517,435 1,506,044
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,650,454

3,646,240

CREDITORS
Amounts falling due after more than one
year

9

(1,784,603

)

(1,880,241

)

PROVISIONS FOR LIABILITIES 10 - (2,759 )
NET ASSETS 1,865,851 1,763,240

CAPITAL AND RESERVES
Called up share capital 11 4 4
Fair value reserve 12 54,177 59,005
Retained earnings 12 1,811,670 1,704,231
SHAREHOLDERS' FUNDS 1,865,851 1,763,240

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

BALANCE SHEET - continued
31 AUGUST 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 30 August 2024 and were signed on its behalf by:





J R Crawford - Director


DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Drumbain Energy Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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).

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022
and 31 August 2023 65,143
DEPRECIATION
At 1 September 2022 39,876
Charge for year 2,769
At 31 August 2023 42,645
NET BOOK VALUE
At 31 August 2023 22,498
At 31 August 2022 25,267

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 September 2022
and 31 August 2023 1,824,929
NET BOOK VALUE
At 31 August 2023 1,824,929
At 31 August 2022 1,824,929

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 290,000
Additions 420
Revaluations (4,828 )
At 31 August 2023 285,592
NET BOOK VALUE
At 31 August 2023 285,592
At 31 August 2022 290,000

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. INVESTMENT PROPERTY - continued

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2019 52,095
Valuation in 2020 (16,090 )
Valuation in 2021 2,000
Valuation in 2022 21,000
Valuation in 2023 (4,828 )
Cost 231,415
285,592

If investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 230,995 230,995

Investment properties were valued on an open market basis on 31 August 2023 by directors .

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Loan to Dowhill Country Fayre 723,734 700,250
Loan to Dowhill Farm 581,729 588,708
Loan to Seafield 229,250 226,834
1,534,713 1,515,792

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,290 2,388
Tax (17 ) (17 )
Directors' current accounts 14,224 6,291
Accrued expenses 5,998 5,592
21,495 14,254

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 20,721 29,164
Bank loans more 5 yr by instal 140,967 145,590
Bank of Scotland Loan 1,344,809 1,344,809
Bank of Scotland loan 278,106 360,678
1,784,603 1,880,241

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 140,967 145,590
Bank of Scotland Loan 1,344,809 1,344,809
Bank of Scotland loan 278,106 360,678
1,763,882 1,851,077

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 2,759

Deferred
tax
£   
Balance at 1 September 2022 2,759
Provided during year (2,759 )
Balance at 31 August 2023 -

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
4 Ordinary £1 4 4

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 September 2022 1,704,231 59,005 1,763,236
Profit for the year 107,439 107,439
Fair value revaluation - (4,828 ) (4,828 )
At 31 August 2023 1,811,670 54,177 1,865,847

13. RELATED PARTY DISCLOSURES

Throughout the year to 31st August 2023 the company was under the immediate and ultimate control of the directors. As at 31st August 2023 the directors were owed £14224 .(2022 £6290)

J R Crawford

2023 2022
£    £   

DRUMBAIN ENERGY LIMITED (REGISTERED NUMBER: SC383041)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023
Amount due to related party at the balance sheet date 7,112 3,145

Mrs C Crawford

2023 2022
£    £   
Amount due to related party at the balance sheet date 7,112 3,145