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 2020

FOR

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

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2020










Page

Balance Sheet 1

Notes to the Financial Statements 3


DRUMLYN DEVELOPMENTS LIMITED (REGISTERED NUMBER: NI029826)


BALANCE SHEET
31 AUGUST 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 610 717
Investment property 5 500,000 500,000
500,610 500,717

CURRENT ASSETS
Debtors 6 11,182 6,214
Cash at bank 3,931 4,587
15,113 10,801
CREDITORS
Amounts falling due within one year 7 25,705 28,009
NET CURRENT LIABILITIES (10,592 ) (17,208 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
490,018
483,509

PROVISIONS FOR LIABILITIES (8,561 ) (8,561 )

GOVERNMENT GRANTS (53,508 ) (53,508 )
NET ASSETS 427,949 421,440

CAPITAL AND RESERVES
Called up share capital 15,002 15,002
Revaluation reserve 8 236,508 236,508
Retained earnings 176,439 169,930
427,949 421,440

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 2020


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 director and authorised for issue on 23 April 2021 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 2020


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 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.
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 2020


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2019
and 31 August 2020 10,340
DEPRECIATION
At 1 September 2019 9,623
Charge for year 107
At 31 August 2020 9,730
NET BOOK VALUE
At 31 August 2020 610
At 31 August 2019 717

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2019
and 31 August 2020 500,000
NET BOOK VALUE
At 31 August 2020 500,000
At 31 August 2019 500,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 11,073 6,067
Other debtors 109 147
11,182 6,214

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


NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2020


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 5,992 6,911
Taxation and social security 10,696 12,195
Other creditors 9,017 8,903
25,705 28,009

8. RESERVES
Revaluation
reserve
£   
At 1 September 2019
and 31 August 2020 236,508

5