REGISTERED NUMBER: SC456120 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Drumgray Vehicles Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L Downie

M Downie

SECRETARY:

L Downie

REGISTERED OFFICE:

76 Hamilton Road

Motherwell

ML1 3BY

REGISTERED NUMBER:

SC456120 (Scotland)

ACCOUNTANTS:

Gordon Ferguson & Co Ltd

76 Hamilton Road

Motherwell

Lanarkshire

ML1 3BY

FIXED ASSETS

Tangible assets

4

166,354

114,250

CURRENT ASSETS

Stocks

228,575

215,992

Debtors

5

12,833

12,833

Cash at bank

96,382

91,097

337,790

319,922

CREDITORS

Amounts falling due within one year

6

497,516

438,359

NET CURRENT LIABILITIES

(159,726

)

(118,437

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,628

(4,187

)

CREDITORS

Amounts falling due after more than one year

7

56,368

41,251

NET LIABILITIES

(49,740

)

(45,438

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(49,840

)

(45,538

)

(49,740

)

(45,438

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 17 December 2025 and were signed on its behalf by:

L Downie - Director

M Downie - Director

1.	STATUTORY INFORMATION

Drumgray Vehicles 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

10,588

29,785

173,439

10,517

224,329

Additions

-

-

86,500

5,378

91,878

At 31 March 2025

10,588

29,785

259,939

15,895

316,207

DEPRECIATION

At 1 April 2024

3,429

12,204

91,420

3,026

110,079

Charge for year

2,647

4,395

29,515

3,217

39,774

At 31 March 2025

6,076

16,599

120,935

6,243

149,853

NET BOOK VALUE

At 31 March 2025

4,512

13,186

139,004

9,652

166,354

At 31 March 2024

7,159

17,581

82,019

7,491

114,250

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

42,721

Additions

86,500

At 31 March 2025

129,221

DEPRECIATION

At 1 April 2024

23,697

Charge for year

13,766

At 31 March 2025

37,463

NET BOOK VALUE

At 31 March 2025

91,758

At 31 March 2024

19,024

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

12,833

12,833

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Hire purchase contracts

9,748

4,800

Trade creditors

2,736

1,987

Taxation and social security

31,373

15,021

Other creditors

443,659

406,551

497,516

438,359

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

2,052

12,264

Hire purchase contracts

54,316

28,987

56,368

41,251