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REGISTERED NUMBER: SC143661 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Drimvargie Limited

Drimvargie Limited (Registered number: SC143661)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drimvargie Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr Robin Stephen Marco Bansal





SECRETARY: Ms Sharonne Bansal





REGISTERED OFFICE: 931 Sauchiehall Street
Glasgow
G3 7TQ





REGISTERED NUMBER: SC143661 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Drimvargie Limited (Registered number: SC143661)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,810,509 1,791,981

CURRENT ASSETS
Stock 7,000 10,650
Debtors 5 37,208 -
Cash at bank 517,499 509,709
561,707 520,359
CREDITORS
Amounts falling due within one year 6 179,469 160,037
NET CURRENT ASSETS 382,238 360,322
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,192,747

2,152,303

CREDITORS
Amounts falling due after more than one
year

7

(643,720

)

(704,965

)

PROVISIONS FOR LIABILITIES 9 (51,774 ) (45,089 )
NET ASSETS 1,497,253 1,402,249

CAPITAL AND RESERVES
Called up share capital 10 530 530
Share premium 288,715 288,715
Retained earnings 1,208,008 1,113,004
SHAREHOLDERS' FUNDS 1,497,253 1,402,249

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Drimvargie Limited (Registered number: SC143661)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2024 and were signed by:





Mr Robin Stephen Marco Bansal - Director


Drimvargie Limited (Registered number: SC143661)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Drimvargie 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Heritable property - 1% on cost
Plant and machinery - 15% on reducing balance
Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance

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

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Drimvargie Limited (Registered number: SC143661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 46 ) .

Drimvargie Limited (Registered number: SC143661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fittings
Heritable Plant and and Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 1,831,680 12,100 353,746 14,500 2,212,026
Additions - - 121,903 - 121,903
Disposals - - (98,711 ) - (98,711 )
At 31 March 2024 1,831,680 12,100 376,938 14,500 2,235,218
DEPRECIATION
At 1 April 2023 275,348 3,358 130,280 11,059 420,045
Charge for year 18,319 1,311 46,322 860 66,812
Eliminated on disposal - - (62,148 ) - (62,148 )
At 31 March 2024 293,667 4,669 114,454 11,919 424,709
NET BOOK VALUE
At 31 March 2024 1,538,013 7,431 262,484 2,581 1,810,509
At 31 March 2023 1,556,332 8,742 223,466 3,441 1,791,981

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 14,500
Transfer to ownership (14,500 )
At 31 March 2024 -
DEPRECIATION
At 1 April 2023 11,059
Transfer to ownership (11,059 )
At 31 March 2024 -
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 3,441

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 37,208 -

Drimvargie Limited (Registered number: SC143661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 45,000 45,000
Hire purchase contracts - 2,482
Trade creditors 40,374 6,346
Taxation and social security 81,152 80,599
Other creditors 12,943 25,610
179,469 160,037

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 315,000 360,000
Other creditors 328,720 344,965
643,720 704,965

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 135,000 135,000

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 360,000 405,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 51,774 45,089

Deferred
tax
£   
Balance at 1 April 2023 45,089
Provided during year 6,685
Balance at 31 March 2024 51,774

Drimvargie Limited (Registered number: SC143661)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
400 Ordinary £1 400 400
100 Ordinary B shares £1 100 100
30 Ordinary A shares £1 30 30
530 530