IRIS Accounts Production v25.1.0.734 NI700395 Board of Directors 11.8.23 31.10.24 31.10.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI7003952023-08-10NI7003952024-10-31NI7003952023-08-112024-10-31NI7003952023-08-10NI700395ns15:NorthernIreland2023-08-112024-10-31NI700395ns14:PoundSterling2023-08-112024-10-31NI700395ns10:Director12023-08-112024-10-31NI700395ns10:PrivateLimitedCompanyLtd2023-08-112024-10-31NI700395ns10:SmallEntities2023-08-112024-10-31NI700395ns10:AuditExemptWithAccountantsReport2023-08-112024-10-31NI700395ns10:SmallCompaniesRegimeForDirectorsReport2023-08-112024-10-31NI700395ns10:SmallCompaniesRegimeForAccounts2023-08-112024-10-31NI700395ns10:FullAccounts2023-08-112024-10-31NI70039512023-08-112024-10-31NI700395ns10:Director22023-08-112024-10-31NI700395ns10:RegisteredOffice2023-08-112024-10-31NI700395ns5:CurrentFinancialInstruments2024-10-31NI700395ns5:ShareCapital2024-10-31NI700395ns5:RetainedEarningsAccumulatedLosses2024-10-31NI700395ns5:NetGoodwill2023-08-112024-10-31NI700395ns5:IntangibleAssetsOtherThanGoodwill2023-08-112024-10-31NI700395ns5:LongLeaseholdAssetsns5:LandBuildings2023-08-112024-10-31NI700395ns5:PlantMachinery2023-08-112024-10-31NI700395ns5:MotorVehicles2023-08-112024-10-31NI700395ns5:NetGoodwill2024-10-31NI700395ns5:LongLeaseholdAssetsns5:LandBuildings2024-10-31NI700395ns5:PlantMachinery2024-10-31NI700395ns5:MotorVehicles2024-10-31NI700395ns5:WithinOneYearns5:CurrentFinancialInstruments2024-10-31
REGISTERED NUMBER: NI700395 (Northern Ireland)













DRUMBARE LTD

FINANCIAL STATEMENTS

FOR THE PERIOD

11 AUGUST 2023 TO 31 OCTOBER 2024






DRUMBARE LTD (REGISTERED NUMBER: NI700395)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 11 AUGUST 2023 TO 31 OCTOBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


DRUMBARE LTD

COMPANY INFORMATION
FOR THE PERIOD 11 AUGUST 2023 TO 31 OCTOBER 2024







DIRECTORS: C W Purdy
Mrs G C Purdy



REGISTERED OFFICE: 29 Drumbare Road
Cloughmills
Ballymena
Co. Antrim
BT44 9LA



REGISTERED NUMBER: NI700395 (Northern Ireland)



ACCOUNTANTS: McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE



BANKERS: Ulster Bank Limited
7 Upper English Street
ARMAGH
BT61 7BL

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DRUMBARE LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the period ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 October 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the period.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






McAleer Jackson Ltd
Chartered Accountants
Church House
24 Dublin Road
OMAGH
Co. Tyrone
BT78 1HE


9 May 2025

DRUMBARE LTD (REGISTERED NUMBER: NI700395)

BALANCE SHEET
31 OCTOBER 2024

Notes £    £   
FIXED ASSETS
Intangible assets 4 -
Tangible assets 5 974,813
974,813

CURRENT ASSETS
Debtors 6 81,709
Cash at bank and in hand 148,586
230,295
CREDITORS
Amounts falling due within one year 7 668,414
NET CURRENT LIABILITIES (438,119 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

536,694

PROVISIONS FOR LIABILITIES 135,510
NET ASSETS 401,184

CAPITAL AND RESERVES
Called up share capital 200
Retained earnings 400,984
401,184

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2024 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.

DRUMBARE LTD (REGISTERED NUMBER: NI700395)

BALANCE SHEET - continued
31 OCTOBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





C W Purdy - Director


DRUMBARE LTD (REGISTERED NUMBER: NI700395)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 11 AUGUST 2023 TO 31 OCTOBER 2024

1. STATUTORY INFORMATION

Drumbare Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

The financial statements are shown in sterling, which is the functional currency of the company.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the year of acquisition.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land & buildings - 5% straight line
Plant and machinery - 15% straight line
Motor vehicles - 15% straight line

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provisions for impairment.

Taxation
Taxation for the period 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.


DRUMBARE LTD (REGISTERED NUMBER: NI700395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 11 AUGUST 2023 TO 31 OCTOBER 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 period 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.

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the Statement of Comprehensive Income account in other administrative expenses

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 14 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 8
At 31 October 2024 8
AMORTISATION
Charge for period 8
At 31 October 2024 8
NET BOOK VALUE
At 31 October 2024 -

DRUMBARE LTD (REGISTERED NUMBER: NI700395)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 11 AUGUST 2023 TO 31 OCTOBER 2024

5. TANGIBLE FIXED ASSETS
Land & Plant and Motor
buildings machinery vehicles Totals
£    £    £    £   
COST
Additions 420,030 749,840 21,500 1,191,370
Disposals - (85,000 ) - (85,000 )
At 31 October 2024 420,030 664,840 21,500 1,106,370
DEPRECIATION
Charge for period 5,540 122,069 3,948 131,557
At 31 October 2024 5,540 122,069 3,948 131,557
NET BOOK VALUE
At 31 October 2024 414,490 542,771 17,552 974,813

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 81,709

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 166,712
Taxation and social security 128,701
Other creditors 373,001
668,414