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REGISTERED NUMBER: SC324103 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

A H S DRUMMOND (GLENSIDE) LIMITED

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A H S DRUMMOND (GLENSIDE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Andrew Hugh Scotson Drummond
Hugh Douglas Drummond



SECRETARY: Hugh Douglas Drummond



REGISTERED OFFICE: Glenside Farm
Kirkcolm
Stranraer
Dumfries & Galloway
DG9 0PT



REGISTERED NUMBER: SC324103 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
24 Beresford Terrace
Ayr
KA7 2EG



BANKERS: The Royal Bank of Scotland plc
15 Bridge Street
Stranraer
Dumfries & Galloway
DG9 7JA

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,278
Tangible assets 5 1,230,187 1,110,159
1,230,187 1,111,437

CURRENT ASSETS
Stocks 6 185,203 190,567
Debtors 7 301,850 263,163
Cash at bank - 33,838
487,053 487,568
CREDITORS
Amounts falling due within one year 8 294,352 228,056
NET CURRENT ASSETS 192,701 259,512
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,422,888

1,370,949

CREDITORS
Amounts falling due after more than one
year

9

(676,953

)

(815,789

)

PROVISIONS FOR LIABILITIES (85,343 ) (93,138 )
NET ASSETS 660,592 462,022

CAPITAL AND RESERVES
Called up share capital 11 155 105
Share premium 12 299,950 -
Retained earnings 12 360,487 461,917
SHAREHOLDERS' FUNDS 660,592 462,022

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

BALANCE SHEET - continued
31 MAY 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 28 May 2025 and were signed on its behalf by:





Andrew Hugh Scotson Drummond - Director


A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

A H S Drummond (Glenside) 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.

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 represents the net invoice value of produce supplied to customers.

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.

Basis Payment Scheme Entitlements are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Capital expenditure on property - 4% on cost
Plant and equipment - 12.5% on reducing balance
Tractors and farm bikes - 20% on reducing balance
Motor vehicles - 20% on reducing balance

No depreciation has been provided by the directors on the cost of farmland within freehold property.

Stocks
Stocks have been valued at the lower of direct cost or net realisable value other than mature livestock which have been valued on the "herd basis" at the original capital cost.

Taxation
Taxation for the year 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.

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.

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised under tangible fixed assets in the balance sheet and depreciated over their estimated useful lives. The interest element of the rental obligations is charged to the profit and loss account over the period of the contract and represents a constant proportion of the balance of capital outstanding.

Rentals payable on operating leases are charged to income on a straight line basis over the term of the agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Basis
Payment
Scheme
Entitlements
£   
COST
At 1 June 2023
and 31 May 2024 5,115
AMORTISATION
At 1 June 2023 3,837
Amortisation for year 1,278
At 31 May 2024 5,115
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 1,278

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

5. TANGIBLE FIXED ASSETS
Capital
expenditure
Freehold on Plant and
property property equipment
£    £    £   
COST
At 1 June 2023 440,428 497,863 525,408
Additions - 78,154 31,506
Disposals - - -
At 31 May 2024 440,428 576,017 556,914
DEPRECIATION
At 1 June 2023 - 122,984 291,124
Charge for year - 22,811 33,224
Eliminated on disposal - - -
At 31 May 2024 - 145,795 324,348
NET BOOK VALUE
At 31 May 2024 440,428 430,222 232,566
At 31 May 2023 440,428 374,879 234,284

Tractors
and farm Motor
bikes vehicles Totals
£    £    £   
COST
At 1 June 2023 155,200 - 1,618,899
Additions 117,198 20,500 247,358
Disposals (77,250 ) - (77,250 )
At 31 May 2024 195,148 20,500 1,789,007
DEPRECIATION
At 1 June 2023 94,632 - 508,740
Charge for year 27,643 4,100 87,778
Eliminated on disposal (37,698 ) - (37,698 )
At 31 May 2024 84,577 4,100 558,820
NET BOOK VALUE
At 31 May 2024 110,571 16,400 1,230,187
At 31 May 2023 60,568 - 1,110,159

The net book value of the company's fixed assets at 31 May 2024 included £112,440 of tractors held under hire purchase contracts (2023 : £60,902).

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. STOCKS

2024 2023
£ £
Livestock valued on 'herd basis'83,708 94,128
Other livestock85,39580,635
Growing crops and consumables16,10015,804

185,203190,567
============

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 58,408 67,210
Value Added Tax recoverable 35,041 11,800
Amount owed by H S Drummond
(Glenside) Limited 180,715 182,156
Corporation Tax recoverable 25,157 -
Prepayments and accrued income 2,529 1,997
301,850 263,163

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 196,820 65,000
Hire purchase contracts 30,108 22,260
Trade creditors 47,704 52,962
Current Corporation Tax - 66,141
Social security and other taxes 1,016 865
Directors' current accounts 862 2,684
Accruals and deferred income 17,842 18,144
294,352 228,056

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans less than 5 years 190,000 255,000
Bank loans over 5 years 440,530 557,634
Hire purchase contracts 46,423 3,155
676,953 815,789

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years 440,530 557,634

A H S DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC324103)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 126,820 -
Bank loans 700,530 877,634
827,350 877,634

The bank loans and overdraft facilities are secured by a bond and floating charge over the assets of the company together with standard securities over the freehold property.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
5 Ordinary 'A' £1 5 5
50 Ordinary 'B' £1 50 -
155 105

12. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 June 2023 461,917 - 461,917
Deficit for the year (20,430 ) (20,430 )
Dividends (81,000 ) (81,000 )
Bonus share issue - 299,950 299,950
At 31 May 2024 360,487 299,950 660,437

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Andrew Hugh Scotson Drummond.