Drumcon Pedigrees Ltd NI697379 false 2023-05-18 2024-06-30 2024-06-30 The principal activity of the company is the breeding and sale of cross bred and pedigree sheep Digita Accounts Production Advanced 6.30.9574.0 true true NI697379 2023-05-18 2024-06-30 NI697379 2024-06-30 NI697379 bus:OrdinaryShareClass1 2024-06-30 NI697379 core:CurrentFinancialInstruments 2024-06-30 NI697379 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 NI697379 core:LandBuildings 2024-06-30 NI697379 core:OtherPropertyPlantEquipment 2024-06-30 NI697379 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-06-30 NI697379 bus:SmallEntities 2023-05-18 2024-06-30 NI697379 bus:AuditExemptWithAccountantsReport 2023-05-18 2024-06-30 NI697379 bus:FilletedAccounts 2023-05-18 2024-06-30 NI697379 bus:SmallCompaniesRegimeForAccounts 2023-05-18 2024-06-30 NI697379 bus:RegisteredOffice 2023-05-18 2024-06-30 NI697379 bus:Director1 2023-05-18 2024-06-30 NI697379 bus:OrdinaryShareClass1 2023-05-18 2024-06-30 NI697379 bus:PrivateLimitedCompanyLtd 2023-05-18 2024-06-30 NI697379 core:Buildings 2023-05-18 2024-06-30 NI697379 core:LandBuildings 2023-05-18 2024-06-30 NI697379 core:OtherPropertyPlantEquipment 2023-05-18 2024-06-30 NI697379 core:PlantMachinery 2023-05-18 2024-06-30 NI697379 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-05-18 2024-06-30 NI697379 countries:NorthernIreland 2023-05-18 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI697379

Drumcon Pedigrees Ltd

Unaudited Filleted Financial Statements

for the Period from 18 May 2023 to 30 June 2024

 

Drumcon Pedigrees Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Drumcon Pedigrees Ltd

(Registration number: NI697379)
Balance Sheet as at 30 June 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

80,388

Current assets

 

Stocks

5

325,550

Debtors

6

7,452

Cash at bank and in hand

 

8,516

 

341,518

Creditors: Amounts falling due within one year

7

(430,957)

Net current liabilities

 

(89,439)

Net liabilities

 

(9,051)

Capital and reserves

 

Called up share capital

8

1

Retained earnings

(9,052)

Shareholders' deficit

 

(9,051)

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 October 2024
 

.........................................
Jonathan Cubitt
Director

 

Drumcon Pedigrees Ltd

Notes to the Unaudited Financial Statements for the Period from 18 May 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
57 Ballyconnelly Road
Cullybackey
Ballymena
Co Antrim
BT42 1EH

These financial statements were authorised for issue by the director on 24 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Drumcon Pedigrees Ltd

Notes to the Unaudited Financial Statements for the Period from 18 May 2023 to 30 June 2024

Asset class

Depreciation method and rate

Buildings

3% straight line basis

Plant and machinery

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

 

Drumcon Pedigrees Ltd

Notes to the Unaudited Financial Statements for the Period from 18 May 2023 to 30 June 2024

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

Additions

33,417

59,967

93,384

At 30 June 2024

33,417

59,967

93,384

Depreciation

Charge for the period

1,003

11,993

12,996

At 30 June 2024

1,003

11,993

12,996

Carrying amount

At 30 June 2024

32,414

47,974

80,388

Included within the net book value of land and buildings above is £32,414 in respect of freehold land and buildings.
 

5

Stocks

2024
£

Other inventories

325,550

6

Debtors

Current

2024
£

Trade debtors

679

Prepayments

3,576

Other debtors

3,197

 

7,452

 

Drumcon Pedigrees Ltd

Notes to the Unaudited Financial Statements for the Period from 18 May 2023 to 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

1,139

Accruals and deferred income

1,700

Other creditors

428,118

430,957

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary Shares of £1 each

1

1

   

9

Related party transactions

Other transactions with the director

During the year the director advanced £228,118 to the company. At the balance sheet date, the company owed the directors an amount of £228,118 and is included in other creditors. The loan is interest free and repayable on demand.

Loans from related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

200,000

200,000

At end of period

200,000

200,000

Terms of loans from related parties

Loans are interest free and repayable on demand.