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COMPANY REGISTRATION NUMBER: NI632816
Drumgowna Properties Limited
Filleted Unaudited Financial Statements
27 August 2023
Drumgowna Properties Limited
Statement of Financial Position
27 August 2023
27 Aug 23
31 Aug 22
Note
£
£
Fixed assets
Investments
4
50
50
Current assets
Debtors
5
1,500
1,500
Cash at bank and in hand
50
50
-------
-------
1,550
1,550
Creditors: amounts falling due within one year
6
1,010
1,010
-------
-------
Net current assets
540
540
----
----
Total assets less current liabilities
590
590
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
490
490
----
----
Shareholders funds
590
590
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 27 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mrs A McCormick
Mr D McCormick
Director
Director
Company registration number: NI632816
Drumgowna Properties Limited
Notes to the Financial Statements
Period from 1 September 2022 to 27 August 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Greenhill Road, Ardmore, Brookeborough, Co Fermanagh, BT94 4EF, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
4. Investments
Other investments other than loans
£
Cost
At 1 September 2022 and 27 August 2023
50
----
Impairment
At 1 September 2022 and 27 August 2023
----
Carrying amount
At 27 August 2023
50
----
At 31 August 2022
50
----
5. Debtors
27 Aug 23
31 Aug 22
£
£
Other debtors
1,500
1,500
-------
-------
6. Creditors: amounts falling due within one year
27 Aug 23
31 Aug 22
£
£
Trade creditors
1,010
1,010
-------
-------