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DRUMROSSIE HOMES LIMITED

Registered Number
SC582875
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

DRUMROSSIE HOMES LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

BROWN, Allan Kenneth
BROWN, Gordon Robertson

Company Secretary

BROWN, Allan Kenneth

Registered Address

26-27 Netherkirkgate
Aberdeen
AB10 1AU

Registered Number

SC582875 (Scotland)
DRUMROSSIE HOMES LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks1,685,0412,055,494
Debtors908-
Cash at bank and on hand30,089105,274
1,716,0382,160,768
Creditors amounts falling due within one year3(81,018)(1,388,559)
Net current assets (liabilities)1,635,020772,209
Total assets less current liabilities1,635,020772,209
Creditors amounts falling due after one year4(3,200,777)(887,932)
Net assets(1,565,757)(115,723)
Capital and reserves
Called up share capital100100
Profit and loss account(1,565,857)(115,823)
Shareholders' funds(1,565,757)(115,723)
The financial statements were approved and authorised for issue by the Board of Directors on 31 May 2025, and are signed on its behalf by:
BROWN, Allan Kenneth
Director
Registered Company No. SC582875
DRUMROSSIE HOMES LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20242023
Average number of employees during the year00
3.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables80,4181,387,959
Accrued liabilities and deferred income600600
Total81,0181,388,559
4.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,825,183772,002
Other creditors1,375,594115,930
Total3,200,777887,932