Drakehouse Limited - Accounts to registrar (filleted) - small 18.2

Drakehouse Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 04075356 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2020

FOR

DRAKEHOUSE LIMITED

DRAKEHOUSE LIMITED (REGISTERED NUMBER: 04075356)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DRAKEHOUSE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2020







DIRECTOR: B G Holmes



SECRETARY:



REGISTERED OFFICE: Spinney Lodge
Coach Road
Butterley
Ripley
Derbyshire
DE5 3QU



REGISTERED NUMBER: 04075356 (England and Wales)



ACCOUNTANTS: Anderson & Co
18 Diamond Avenue
Kirkby in Ashfield
Nottinghamshire
NG17 7GR



BANKERS: HSBC Bank plc
1 St. Peters Street
Derby
Derbyshire
DE1 2AE

DRAKEHOUSE LIMITED (REGISTERED NUMBER: 04075356)

BALANCE SHEET
28 FEBRUARY 2020

28.2.20 28.2.19
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,061 4,140

CURRENT ASSETS
Debtors 5 25,000 182,267
Investments 6 - 30,000
Cash at bank and in hand 166,499 6,597
191,499 218,864
CREDITORS
Amounts falling due within one year 7 14,803 105,868
NET CURRENT ASSETS 176,696 112,996
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,757

117,136

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 185,657 117,036
185,757 117,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 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 4 November 2020 and were signed
by:





B G Holmes - Director


DRAKEHOUSE LIMITED (REGISTERED NUMBER: 04075356)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2020

1. STATUTORY INFORMATION

Drakehouse Limited is a private company, limited by shares , registered in England and Wales. The company's
registered number and registered office address can be found on the Company Information page.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

3. EMPLOYEES AND DIRECTORS

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

DRAKEHOUSE LIMITED (REGISTERED NUMBER: 04075356)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2020

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2019 38,738 5,398 3,705 146 47,987
Additions 6,521 1,140 - - 7,661
Disposals (31,214 ) (3,271 ) (3,705 ) (146 ) (38,336 )
At 28 February 2020 14,045 3,267 - - 17,312
DEPRECIATION
At 1 March 2019 36,838 4,948 2,005 56 43,847
Charge for year - 950 1,700 90 2,740
Eliminated on disposal (31,214 ) (3,271 ) (3,705 ) (146 ) (38,336 )
At 28 February 2020 5,624 2,627 - - 8,251
NET BOOK VALUE
At 28 February 2020 8,421 640 - - 9,061
At 28 February 2019 1,900 450 1,700 90 4,140

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.20 28.2.19
£    £   
Trade debtors - 1,200
Amounts recoverable on contract 25,000 180,800
Prepayments - 267
25,000 182,267

6. CURRENT ASSET INVESTMENTS
28.2.20 28.2.19
£    £   
Unlisted investments - 30,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.20 28.2.19
£    £   
Trade creditors 2,639 -
Value added tax 711 2,096
Accruals and sundry creditors 1,173 1,240
Directors' current accounts 10,280 102,532
14,803 105,868

8. ULTIMATE CONTROLLING PARTY

The controlling party is B G Holmes.