IRIS Accounts Production v25.2.0.378 SC169910 Board of Directors 1.10.23 30.9.24 30.9.24 true false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC1699102023-09-30SC1699102024-09-30SC1699102023-10-012024-09-30SC1699102022-09-30SC1699102022-10-012023-09-30SC1699102023-09-30SC169910ns15:Scotland2023-10-012024-09-30SC169910ns14:PoundSterling2023-10-012024-09-30SC169910ns10:Director12023-10-012024-09-30SC169910ns10:PrivateLimitedCompanyLtd2023-10-012024-09-30SC169910ns10:SmallEntities2023-10-012024-09-30SC169910ns10:AuditExempt-NoAccountantsReport2023-10-012024-09-30SC169910ns10:SmallCompaniesRegimeForDirectorsReport2023-10-012024-09-30SC169910ns10:SmallCompaniesRegimeForAccounts2023-10-012024-09-30SC169910ns10:FullAccounts2023-10-012024-09-30SC169910ns10:Director22023-10-012024-09-30SC169910ns10:Director32023-10-012024-09-30SC169910ns10:Director42023-10-012024-09-30SC169910ns10:CompanySecretary12023-10-012024-09-30SC169910ns10:RegisteredOffice2023-10-012024-09-30SC169910ns5:CurrentFinancialInstruments2024-09-30SC169910ns5:CurrentFinancialInstruments2023-09-30SC169910ns5:ShareCapital2024-09-30SC169910ns5:ShareCapital2023-09-30SC169910ns5:SharePremium2024-09-30SC169910ns5:SharePremium2023-09-30SC169910ns5:RetainedEarningsAccumulatedLosses2024-09-30SC169910ns5:RetainedEarningsAccumulatedLosses2023-09-30SC169910ns5:LandBuildingsns5:OwnedOrFreeholdAssets2023-10-012024-09-30SC169910ns5:PlantMachinery2023-10-012024-09-30SC169910ns5:LandBuildings2023-09-30SC169910ns5:PlantMachinery2023-09-30SC169910ns5:LandBuildings2023-10-012024-09-30SC169910ns5:LandBuildings2024-09-30SC169910ns5:PlantMachinery2024-09-30SC169910ns5:LandBuildings2023-09-30SC169910ns5:PlantMachinery2023-09-30SC169910ns5:CostValuation2023-09-30SC169910ns5:WithinOneYearns5:CurrentFinancialInstruments2024-09-30SC169910ns5:WithinOneYearns5:CurrentFinancialInstruments2023-09-30SC169910ns5:RetainedEarningsAccumulatedLosses2023-09-30SC169910ns5:SharePremium2023-09-30SC169910ns5:RetainedEarningsAccumulatedLosses2023-10-012024-09-30
REGISTERED NUMBER: SC169910 (Scotland)




















Drygrange Estate Company Limited

Unaudited Financial Statements

for the Year Ended 30 September 2024






Drygrange Estate Company Limited (Registered number: SC169910)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drygrange Estate Company Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: J M Brownlie
H S M Brownlie
S E M Brownlie
V M I Brownlie Williams



SECRETARY: G J H Pollock



REGISTERED OFFICE: 9 Ainslie Place
Edinburgh
EH3 6AT



REGISTERED NUMBER: SC169910 (Scotland)



ACCOUNTANTS: Whitelaw Wells
9 Ainslie Place
Edinburgh
Midlothian
EH3 6AT



BANKERS: The Royal Bank of Scotland
High Street
Earlston
TD4 6BT

Drygrange Estate Company Limited (Registered number: SC169910)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,638,138 3,641,017
Investments 5 1 1
3,638,139 3,641,018

CURRENT ASSETS
Stocks 143,870 125,735
Debtors 6 85,261 74,052
Cash at bank 321,898 392,065
551,029 591,852
CREDITORS
Amounts falling due within one year 7 177,454 173,287
NET CURRENT ASSETS 373,575 418,565
TOTAL ASSETS LESS CURRENT LIABILITIES 4,011,714 4,059,583

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 9 2,502,922 2,502,922
Retained earnings 9 1,498,792 1,546,661
SHAREHOLDERS' FUNDS 4,011,714 4,059,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Drygrange Estate Company Limited (Registered number: SC169910)

Balance Sheet - continued
30 September 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 27 August 2025 and were signed on its behalf by:





J M Brownlie - Director


Drygrange Estate Company Limited (Registered number: SC169910)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Drygrange Estate Company 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 as modified by the revaluation of certain assets.

The directors going concern assessment covers the period of at least 12 months from the date of signing of these financial statements.

Turnover and revenue recognition
Turnover represents property rental, shooting and fishing rents, farming income, timber sales and wayleaves, all of which are net of value added tax.

Property rent is recognised in accordance with the lease agreement. Shooting and fishing rents are recognised in line with the dates of the rental period. Rent paid in advance is shown separately as deferred income. Farming income and timber sales are recognised at the point of sale and wayleave income is recognised when it is received.

Where entitlement is not conditional on a specific performance by the company, grants are recognised when the company becomes unconditionally entitled. Where related to performance and specific deliverables, grants are accounted for as the company earns the right to consideration by its performance.

Investment income is recognised when receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Nil
Plant and machinery - 20% on cost

All fixed assets are recorded at cost. Where events or changes in circumstances indicate that the carrying amount of a fixed asset exceeds the recoverable amount, the asset is subject to an impairment charge equal to the excess.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Drygrange Estate Company Limited (Registered number: SC169910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments comprise financial assets and financial liabilities which are recognised when the company becomes a party to the contractual provisions of the instrument. Financial instruments are classified as "basic" in accordance with FRS102 and are accounted for at amortised cost using the effective interest method. The effective interest rate is the rate that exactly discounts estimated future cash flows over the life of the financial assets or liability to the net carrying amount on initial recognition. Discounting is not applied to short-term receivables and payables, where the effect is immaterial.

Financial assets at cost comprise cash, trade debtors, amounts owed by associates and other debtors. Financial liabilities comprise bank loans and overdrafts, trade creditors, accruals and other creditors.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Fixed asset investments
Fixed asset investments are accounted for at fair value and gains and losses on revaluation are recognised in the income statement and transferred to the fair value reserve. Deferred taxation is provided on any gains or losses arising and is recognised in the fair value reserve.

Government grants
Government grants in relation to tangible fixed asset are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Drygrange Estate Company Limited (Registered number: SC169910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Judgements and key sources of estimation uncertainty
In the application of the businesses accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 3,635,326 41,608 3,676,934
DEPRECIATION
At 1 October 2023 - 35,917 35,917
Charge for year - 2,879 2,879
At 30 September 2024 - 38,796 38,796
NET BOOK VALUE
At 30 September 2024 3,635,326 2,812 3,638,138
At 30 September 2023 3,635,326 5,691 3,641,017

Included in cost of land and buildings is land which is subject to impairment review but otherwise not depreciated.

The director considers the total market value of land and buildings to be equal to or above net book value.

Drygrange Estate Company Limited (Registered number: SC169910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 September 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2024 3,635,326 41,608 3,676,934

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 1
NET BOOK VALUE
At 30 September 2024 1
At 30 September 2023 1

Cost or valuation at 30 September 2024 is represented by:

Shares in
group
undertakings
£   
Cost 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 290 900
Amounts owed by associates 1,705 1,705
Other debtors 83,266 71,447
85,261 74,052

Drygrange Estate Company Limited (Registered number: SC169910)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 169,464 136,026
Taxation and social security 1,566 13,835
Other creditors 6,424 23,426
177,454 173,287

8. SECURED DEBTS

Bank loans and overdrafts are owed to the Royal Bank of Scotland and are secured by a bond and floating charge over all property and assets present and future of the company, including uncalled capital, and a standard security over certain land owed by the company with a value of £2,123,000.

In addition, there is a standard security over the same land in respect of amounts that would become payable to the previous owner were any of the land to be sold for development before 2038.

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 October 2023 1,546,661 2,502,922 4,049,583
Deficit for the year (47,869 ) (47,869 )
At 30 September 2024 1,498,792 2,502,922 4,001,714