Drake and Company Consultants Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03324202 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

DRAKE AND COMPANY CONSULTANTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Warren Drake

SECRETARY:

Warren Drake

REGISTERED OFFICE:

C/O Defries Weiss

Central Housen Suite 6.10

1 Ballards Lane

London

N3 1LQ

REGISTERED NUMBER:

03324202 (England and Wales)

ACCOUNTANTS:

Defries Weiss (Accountants) Limited

Central House

1 Ballards Lane

London

N3 1LQ

FIXED ASSETS

Website development

4

-

-

Tangible assets

5

47,449

36,063

47,449

36,063

CURRENT ASSETS

Debtors

6

39,692

133,787

Cash at bank and in hand

43,059

14,624

82,751

148,411

CREDITORS

Amounts falling due within one year

7

53,477

94,090

NET CURRENT ASSETS

29,274

54,321

TOTAL ASSETS LESS CURRENT LIABILITIES

76,723

90,384

CREDITORS

Amounts falling due after more than one year

8

(50,000

)

-

PROVISIONS FOR LIABILITIES

(8,935

)

(6,754

)

NET ASSETS

17,788

83,630

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

17,688

83,530

SHAREHOLDERS' FUNDS

17,788

83,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 30 November 2021 and were signed by:

Warren Drake - Director

1.	STATUTORY INFORMATION

Drake and Company Consultants 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 the provisions of section 1A 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 represents net invoiced sales of services, excluding value added tax.

Intangible fixed assets

The cost of website development has been amortised over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Computer equipment

25% of the reducing balance

Furniture and fixtures

20% of the reducing balance

Motor Vehicles

25% of the reducing balance

Financial instruments

Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and accounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.

Operating leases

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	WEBSITE DEVELOPMENT

Other

intangible

assets

£

COST

At 1 March 2020

and 28 February 2021

36,000

AMORTISATION

At 1 March 2020

and 28 February 2021

36,000

NET BOOK VALUE

At 28 February 2021

-

At 29 February 2020

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2020

89,211

Additions

25,193

At 28 February 2021

114,404

DEPRECIATION

At 1 March 2020

53,148

Charge for year

13,807

At 28 February 2021

66,955

NET BOOK VALUE

At 28 February 2021

47,449

At 29 February 2020

36,063

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Trade debtors

39,458

133,455

Other debtors

234

332

39,692

133,787

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Bank loans and overdrafts

610

1,414

Trade creditors

2,472

6,656

Taxation and social security

46,721

80,015

Other creditors

3,674

6,005

53,477

94,090

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.21

29.2.20

£

£

Bank loans

50,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

13,333

-