Drumlish Farm Machinery Ltd 31/03/2025 iXBRL

Company registration number: NI675240

Drumlish Farm Machinery Ltd

Unaudited abridged financial statements

31 March 2025

Drumlish Farm Machinery Ltd

Contents

Director's report

Accountants report

Abridged statement of comprehensive income

Abridged statement of financial position

Statement of changes in equity

Notes to the financial statements

Drumlish Farm Machinery Ltd

Director's report

Year ended 31 March 2025

The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2025.

Director

The director who served the company during the year was as follows:

Mr Gerard Barrett

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 18 December 2025 and signed on behalf of the board by:

Mr Gerard Barrett

Director

Drumlish Farm Machinery Ltd

Report to the director on the preparation of the

unaudited statutory financial statements of Drumlish Farm Machinery Ltd

Year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drumlish Farm Machinery Ltd for the year ended 31 March 2025 which comprise the abridged statement of comprehensive income, abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the director of Drumlish Farm Machinery Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Drumlish Farm Machinery Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drumlish Farm Machinery Ltd and its director as a body for our work or for this report.

It is your duty to ensure that Drumlish Farm Machinery Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Drumlish Farm Machinery Ltd. You consider that Drumlish Farm Machinery Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Drumlish Farm Machinery Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crudden Dolan Ltd

Chartered Accountants & Registered Auditors

23/25 Darling Street

Enniskillen

County Fermanagh

BT74 7DP

18 December 2025

Drumlish Farm Machinery Ltd

Abridged statement of comprehensive income

Year ended 31 March 2025

		2025	2024
	Note	£	£

Gross profit		386,581	444,777

Administrative expenses		( 329,800)	( 385,464)
		_______	_______
Operating profit		56,781	59,313

Interest payable and similar expenses		( 17,810)	( 20,996)
		_______	_______
Profit before taxation	5	38,971	38,317

Tax on profit		( 12,076)	( 4,813)
		_______	_______
Profit for the financial year and total comprehensive income		26,895	33,504
		_______	_______

All the activities of the company are from continuing operations.

Drumlish Farm Machinery Ltd

Abridged statement of financial position

31 March 2025

		2025		2024
	Note	£	£	£	£

Fixed assets
Intangible assets	6	3,703		5,555
Tangible assets	7	185,468		139,417
		_______		_______
			189,171		144,972

Current assets
Stocks		911,207		1,398,717
Debtors		644,042		590,700
Cash at bank and in hand		366,166		285,532
		_______		_______
		1,921,415		2,274,949
Creditors: amounts falling due
within one year		( 1,677,270)		( 2,226,936)
		_______		_______
Net current assets			244,145		48,013
			_______		_______
Total assets less current liabilities			433,316		192,985

Creditors: amounts falling due
after more than one year			( 372,817)		( 159,381)
			_______		_______
Net assets			60,499		33,604
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			60,399		33,504
			_______		_______
Shareholder funds			60,499		33,604
			_______		_______

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 18 December 2025 , and are signed on behalf of the board by:

Mr Gerard Barrett

Director

Company registration number: NI675240

Drumlish Farm Machinery Ltd

Statement of changes in equity

Year ended 31 March 2025

	Called up share capital	Profit and loss account	Total
	£	£	£


At 1 April 2023	100	-	100

Profit for the year		33,504	33,504
	_______	_______	_______
Total comprehensive income for the year	-	33,504	33,504

	_______	_______	_______
At 31 March 2024 and 1 April 2024	100	33,504	33,604

Profit for the year		26,895	26,895
	_______	_______	_______
Total comprehensive income for the year	-	26,895	26,895

	_______	_______	_______
At 31 March 2025	100	60,399	60,499
	_______	_______	_______

Drumlish Farm Machinery Ltd

Notes to the financial statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 14 Drumlish Road, Dromore, Omagh, County Tyrone, BT78 3ER.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:


Website design	-	20 %	straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	straight line
Fittings fixtures and equipment	-	20 %	straight line
Motor vehicles	-	15 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2024: 6 ).

5. Profit before taxation

Profit before taxation is stated after charging/(crediting):

	2025	2024
	£	£
Amortisation of intangible assets	1,852	1,852
Depreciation of tangible assets	20,135	21,330
	_______	_______

6. Intangible assets


		£
	Cost
	At 1 April 2024 and 31 March 2025	7,407
		_______
	Amortisation
	At 1 April 2024	1,852
	Charge for the year	1,852
		_______
	At 31 March 2025	3,704
		_______
	Carrying amount
	At 31 March 2025	3,703
		_______
	At 31 March 2024	5,555
		_______

7. Tangible assets


		£
	Cost
	At 1 April 2024	160,747
	Additions	66,186
		_______
	At 31 March 2025	226,933
		_______
	Depreciation
	At 1 April 2024	21,330
	Charge for the year	20,135
		_______
	At 31 March 2025	41,465
		_______
	Carrying amount
	At 31 March 2025	185,468
		_______
	At 31 March 2024	139,417
		_______

8. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2025
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Gerard Barrett	( 556,779)	-	110,302	( 446,477)
		_______	_______	_______	_______

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Gerard Barrett	-	( 558,779)	2,000	( 556,779)
		_______	_______	_______	_______