Dryglen Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC389438 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

DRYGLEN LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S M C Crombie

H C S Crombie

REGISTERED OFFICE:

41 Larkfield Gardens

Edinburgh

Lothian

EH5 3QA

REGISTERED NUMBER:

SC389438 (Scotland)

ACCOUNTANTS:

S&W Partners (Scotland) Limited

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

408

803

Investment property

5

1,306,051

1,306,459

1,306,854

CURRENT ASSETS

Debtors

6

38,035

47,005

Cash at bank

39,366

54,395

77,401

101,400

CREDITORS

Amounts falling due within one year

7

(15,183

)

(9,225

)

NET CURRENT ASSETS

62,218

92,175

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,368,677

1,399,029

PROVISIONS FOR LIABILITIES

8

(35,205

)

(35,280

)

NET ASSETS

1,333,472

1,363,749

CAPITAL AND RESERVES

Called up share capital

16,346

Share premium

34,449

Non-distributable reserve

77,403

Retained earnings

1,205,274

1,235,551

SHAREHOLDERS' FUNDS

1,333,472

1,363,749

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2026 and were signed on its behalf by:

S M C Crombie - Director

1.	STATUTORY INFORMATION

Dryglen 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue from gross rents receivable and is recognised in accordance to the agreed rental lease between the relevant parties.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment

-

33% per annum on cost

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors.

Short-term debt instruments are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2025 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 June 2025

and 31 May 2026

1,199

DEPRECIATION

At 1 June 2025

396

Charge for year

395

At 31 May 2026

791

NET BOOK VALUE

At 31 May 2026

408

At 31 May 2025

803

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2025

and 31 May 2026

1,306,051

NET BOOK VALUE

At 31 May 2026

1,306,051

At 31 May 2025

1,306,051

Fair value at 31 May 2026 is represented by:

£

Valuation in 2024

112,530

Cost

1,193,521

1,306,051

If investment properties had not been revalued them would have been included at the following historical cost:

2026

2025

£

Cost

1,193,521

Investment properties were valued on an open market basis on 31 May 2026 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Other debtors

38,035

47,005

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

-

1,094

Taxation and social security

6,877

1,465

Other creditors

8,306

6,666

15,183

9,225

8.	PROVISIONS FOR LIABILITIES

2026

2025

£

Deferred tax

Other timing differences

35,205

35,280

Deferred

tax

£

Balance at 1 June 2025

35,280

Provided during year

(75

)

Balance at 31 May 2026

35,205

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2026 and 31 May 2025:

2026

2025

£

S M C Crombie

Balance outstanding at start of year

26,063

29,124

Amounts advanced

47,503

41,784

Amounts repaid

(57,701

)

(44,845

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

15,865

26,063

The interest on loan over £10,000 was charged at 2.25% till 5 April 2025 and 3.75% from 6 April to 31 May 2026 per annum. The loan has no fixed terms of repayment.