Dryglen Limited - Accounts to registrar (filleted) - small 18.2
Dryglen Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE PERIOD |
| 1 DECEMBER 2018 TO 31 MAY 2020 |
| FOR |
| DRYGLEN LIMITED |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 DECEMBER 2018 TO 31 MAY 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| DRYGLEN LIMITED |
| COMPANY INFORMATION |
| FOR THE PERIOD 1 DECEMBER 2018 TO 31 MAY 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Q Court |
| 3 Quality Street |
| Edinburgh |
| EH4 5BP |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| BALANCE SHEET |
| 31 MAY 2020 |
| 2020 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve |
| Retained earnings | 35,422 | 22,992 |
| SHAREHOLDERS' FUNDS |
| 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. |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| BALANCE SHEET - continued |
| 31 MAY 2020 |
| 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 |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE PERIOD 1 DECEMBER 2018 TO 31 MAY 2020 |
| 1. | STATUTORY INFORMATION |
| Dryglen Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts. |
| TURNOVER |
| Turnover represents the value of rents receivable in the year. |
| TANGIBLE FIXED ASSETS |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 period 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 period 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. |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 DECEMBER 2018 TO 31 MAY 2020 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| Additions |
| At 31 May 2020 |
| DEPRECIATION |
| Charge for period |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 December 2018 |
| Additions |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 30 November 2018 |
| Fair value at 31 May 2020 is represented by: |
| £ |
| Valuation in 2010 | 181,000 |
| Valuation in 2017 | 30,000 |
| Valuation in 2018 | 14,060 |
| Cost | 87,042 |
| 312,102 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2018 |
| £ | £ |
| Other debtors |
| DRYGLEN LIMITED (REGISTERED NUMBER: SC389438) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE PERIOD 1 DECEMBER 2018 TO 31 MAY 2020 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2018 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 2020 | 2018 |
| £ | £ |
| Deferred tax | 38,416 | 36,950 |
| Deferred |
| tax |
| £ |
| Balance at 1 December 2018 |
| Provision on revaluation of |
| investment property |
| Accelerated capital allowances | 1,466 |
| Balance at 31 May 2020 |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the period ended 31 May 2020 and the year ended 30 November 2018: |
| 2020 | 2018 |
| £ | £ |
| Balance outstanding at start of period | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period | ( |
) | ( |
) |
| Balance outstanding at start of period |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of period |
| The loans are interest free and have no fixed term for repayment. Interest is charged at HMRC declared rates where the balance due to the company is in excess of £10,000. |