Silverfin false false 31/05/2024 01/06/2023 31/05/2024 Mr D Graham 04/03/2013 Mrs L Graham 04/03/2013 19 May 2025 The extraction, processing, and sale of sandstone for use in construction, landscaping, and other related applications. SC444065 2024-05-31 SC444065 bus:Director1 2024-05-31 SC444065 bus:Director2 2024-05-31 SC444065 2023-05-31 SC444065 core:CurrentFinancialInstruments 2024-05-31 SC444065 core:CurrentFinancialInstruments 2023-05-31 SC444065 core:ShareCapital 2024-05-31 SC444065 core:ShareCapital 2023-05-31 SC444065 core:RetainedEarningsAccumulatedLosses 2024-05-31 SC444065 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC444065 core:PlantMachinery 2023-05-31 SC444065 core:PlantMachinery 2024-05-31 SC444065 bus:OrdinaryShareClass1 2024-05-31 SC444065 2023-06-01 2024-05-31 SC444065 bus:FilletedAccounts 2023-06-01 2024-05-31 SC444065 bus:SmallEntities 2023-06-01 2024-05-31 SC444065 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 SC444065 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 SC444065 bus:Director1 2023-06-01 2024-05-31 SC444065 bus:Director2 2023-06-01 2024-05-31 SC444065 core:PlantMachinery core:TopRangeValue 2023-06-01 2024-05-31 SC444065 2022-06-01 2023-05-31 SC444065 core:PlantMachinery 2023-06-01 2024-05-31 SC444065 bus:OrdinaryShareClass1 2023-06-01 2024-05-31 SC444065 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC444065 (Scotland)

DRUMHEAD SANDSTONE LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH THE REGISTRAR

DRUMHEAD SANDSTONE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024

Contents

DRUMHEAD SANDSTONE LIMITED

BALANCE SHEET

AS AT 31 MAY 2024
DRUMHEAD SANDSTONE LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 10,209 13,609
10,209 13,609
Current assets
Debtors 4 27,504 27,024
Cash at bank and in hand 414 809
27,918 27,833
Creditors: amounts falling due within one year 5 ( 75,699) ( 91,207)
Net current liabilities (47,781) (63,374)
Total assets less current liabilities (37,572) (49,765)
Net liabilities ( 37,572) ( 49,765)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 37,672 ) ( 49,865 )
Total shareholder's deficit ( 37,572) ( 49,765)

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Drumhead Sandstone Limited (registered number: SC444065) were approved and authorised for issue by the Board of Directors on 19 May 2025. They were signed on its behalf by:

Mrs L Graham
Director
DRUMHEAD SANDSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
DRUMHEAD SANDSTONE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Drumhead Sandstone Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Denovan Mains, Denny, Stirlingshire, FK6 6BJ, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £37,572. The Company is supported through loans from related parties. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 June 2023 51,000 51,000
Disposals ( 17,000) ( 17,000)
At 31 May 2024 34,000 34,000
Accumulated depreciation
At 01 June 2023 37,391 37,391
Charge for the financial year 3,400 3,400
Disposals ( 17,000) ( 17,000)
At 31 May 2024 23,791 23,791
Net book value
At 31 May 2024 10,209 10,209
At 31 May 2023 13,609 13,609

4. Debtors

2024 2023
£ £
Other debtors 27,504 27,024

5. Creditors: amounts falling due within one year

2024 2023
£ £
Other taxation and social security 0 540
Other creditors 75,699 90,667
75,699 91,207

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

Transactions with entities in which the entity itself has a participating interest

2024 2023
£ £
Amounts due from parent company 27,024 27,024

Transactions with the entity's directors

2024 2023
£ £
Amounts due to key management personnel 7,711 6,311

Other related party transactions

2024 2023
£ £
Amounts due to other related parties 65,189 82,189

8. Ultimate controlling party

Parent Company:

Drumhead Quarry Limited
Denovan Mains
Denny
Stirlingshire
FK6 6BJ