Drumlyn Developments Limited - Accounts to registrar (filleted) - small 18.2

Drumlyn Developments Limited - Accounts to registrar (filleted) - small 18.2

DRUMLYN DEVELOPMENTS LIMITED - Company Information

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REGISTERED NUMBER: NI029826 (Northern Ireland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2018

FOR

DRUMLYN DEVELOPMENTS LIMITED
DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018










Page

Balance Sheet 1

Notes to the Financial Statements 3


DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

BALANCE SHEET
31 AUGUST 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 844 993
Investment property 5 500,000 500,000
500,844 500,993

CURRENT ASSETS
Debtors 6 5,780 9,107
Cash at bank 5,206 4,419
10,986 13,526
CREDITORS
Amounts falling due within one year 7 29,331 30,573
NET CURRENT LIABILITIES (18,345 ) (17,047 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
482,499
483,946

PROVISIONS FOR LIABILITIES (8,561 ) -

GOVERNMENT GRANTS (53,508 ) (53,508 )
NET ASSETS 420,430 430,438

CAPITAL AND RESERVES
Called up share capital 15,002 15,002
Revaluation reserve 8 236,508 236,508
Retained earnings 168,920 178,928
420,430 430,438

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

1 continued...
DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

BALANCE SHEET - continued
31 AUGUST 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 16 March 2019 and were signed by:





M C Townsley - Director


The notes form part of these financial statements

2
DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2018


1. STATUTORY INFORMATION

Drumlyn Developments Limited is a private company, limited by shares , registered in Northern Ireland. The
company's registered number and registered office address are as below:

Registered number: NI029826

Registered office: Suite 2B
Cadogan House
322 Lisburn Road
Belfast
Co. Antrim
BT9 6GH

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.
Plant and machinery etc - 15% on reducing balance

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.

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.

3 continued...
DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2017
and 31 August 2018 10,340
DEPRECIATION
At 1 September 2017 9,347
Charge for year 149
At 31 August 2018 9,496
NET BOOK VALUE
At 31 August 2018 844
At 31 August 2017 993

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2017
and 31 August 2018 500,000
NET BOOK VALUE
At 31 August 2018 500,000
At 31 August 2017 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 5,640 8,992
Other debtors 140 115
5,780 9,107

4 continued...
DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2018


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade creditors 6,393 8,831
Taxation and social security 10,046 8,737
Other creditors 12,892 13,005
29,331 30,573

8. RESERVES
Revaluation
reserve
£   
At 1 September 2017
and 31 August 2018 236,508

5