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REGISTERED NUMBER: SC035309 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

H.S. DRUMMOND (GLENSIDE) LIMITED

H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)






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


H.S. DRUMMOND (GLENSIDE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Hugh Douglas Drummond
Nancy Smith Drummond



SECRETARY: Hugh Douglas Drummond



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



REGISTERED NUMBER: SC035309 (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

H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 275,187 285,827
Investments 5 7,944 7,944
283,131 293,771

CURRENT ASSETS
Debtors 6 1,096,804 1,093,566

CREDITORS
Amounts falling due within one year 7 557,297 562,677
NET CURRENT ASSETS 539,507 530,889
TOTAL ASSETS LESS CURRENT
LIABILITIES

822,638

824,660

PROVISIONS FOR LIABILITIES 6,288 7,188
NET ASSETS 816,350 817,472

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Retained earnings 786,350 787,472
SHAREHOLDERS' FUNDS 816,350 817,472

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.

H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)

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 29 May 2025 and were signed on its behalf by:





Hugh Douglas Drummond - Director


H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)

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

1. STATUTORY INFORMATION

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.

Preparation of consolidated financial statements
The financial statements contain information about H.S. Drummond (Glenside) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents the net invoice value of produce supplied to customers.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at 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.

Investments
Fixed asset investments are stated at cost less any provision for permanent diminution in value. For listed investments, market value is based on the closing mid-market price on a recognised stock exchange.

H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)

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

2. ACCOUNTING POLICIES - continued

Government grants
Grants received in respect of expenditure charged to the profit and loss account during the year have been included in the profit and loss. The remainder are deferred and are released to the profit and loss either to match the relevant expenditure, or, in the case of government grants received in respect of capital expenditure, over the expected useful lives of the related fixed assets.

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 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 295,230 269,868 565,098
DEPRECIATION
At 1 June 2023 47,232 232,039 279,271
Charge for year 5,904 4,736 10,640
At 31 May 2024 53,136 236,775 289,911
NET BOOK VALUE
At 31 May 2024 242,094 33,093 275,187
At 31 May 2023 247,998 37,829 285,827

The net book value of the company's fixed assets at 31 May 2024 included £0 of plant and machinery held under hire purchase contracts (2023 - £0).

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 June 2023
and 31 May 2024 100 7,844 7,944
NET BOOK VALUE
At 31 May 2024 100 7,844 7,944
At 31 May 2023 100 7,844 7,944

H.S. DRUMMOND (GLENSIDE) LIMITED (REGISTERED NUMBER: SC035309)

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

5. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Wigbay Slipway Company Limited
Registered office: "The Glen", Glenside Farm, Kirkcolm, Stranraer, Dumfries & Galloway, DG9 0PT
Nature of business: Land rental
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (113 ) (113 )

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,096,804 1,093,566

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,557 14,107
Trade creditors 1,217 3,928
Taxation and social security 4,893 5,170
Other creditors 536,630 539,472
557,297 562,677

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 14,557 14,107

The bank loans and overdraft facilities are secured by a £200,000 personal guarantee from director H D Drummond and by a first standard security over the farm and lands of Glenside and Low Barbeth.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
30,000 Ordinary "A", "B" and "C" £1 30,000 30,000

10. ULTIMATE CONTROLLING PARTY

Immediate and ultimate control is exercised collectively by the members of the Drummond family. Mr A S Drummond, Mr T M Drummond and Mr D M Drummond each hold a third of the issued ordinary share capital.