THE DRH COLLECTION LIMITED

THE DRH COLLECTION LIMITED

THE DRH COLLECTION LIMITED - Company Information

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THE DRH COLLECTION LIMITED

Company Registration Number:
05160168 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2021

Period of accounts

Start date: 01 April 2020

End date: 31 March 2021

THE DRH COLLECTION LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2021

Balance sheet
Notes

THE DRH COLLECTION LIMITED

Balance sheet

As at 31 March 2021


Notes
2021
2020


£
£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 5,756 10,892
Investments:   0 0
Total fixed assets: 5,756 10,892
Current assets
Stocks: 472,779 464,810
Debtors:   240,745 318,317
Cash at bank and in hand: 836,412 480,032
Investments:   0 0
Total current assets: 1,549,936 1,263,159
Creditors: amounts falling due within one year: 4 (316,024) (310,793)
Net current assets (liabilities): 1,233,912 952,366
Total assets less current liabilities: 1,239,668 963,258
Creditors: amounts falling due after more than one year: 5 (274,125) (79,125)
Provision for liabilities: 0 0
Total net assets (liabilities): 965,543 884,133
Capital and reserves
Called up share capital: 1,000 1,000
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 964,543 883,133
Shareholders funds: 965,543 884,133

The notes form part of these financial statements

THE DRH COLLECTION LIMITED

Balance sheet statements

For the year ending 31 March 2021 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 23 December 2021
and signed on behalf of the board by:

Name: D R Holmes
Status: Director

The notes form part of these financial statements

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

The turnover shown in the profit and loss account represents the value of goods and services provided during the year, stated net of value added tax.

Tangible fixed assets and depreciation policy

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:Motor Vehicles - over 4 yearsFixtures & Fittings - over 5 yearsComputer Equipment - over 3 years

Other accounting policies

StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.Operating lease agreementsRentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.Deferred taxationDeferred taxation is provided on all timing differences, without discounting, calculated at the rate at which it is estimated that tax will be payable, except where otherwise required by accounting standards.Foreign currenciesAssets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.Financial instrumentsFinancial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

2. Employees

2021 2020
Average number of employees during the period 6 7

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

3. Tangible Assets

Total
Cost £
At 01 April 2020 39,221
Additions 642
Disposals 0
Revaluations 0
Transfers 0
At 31 March 2021 39,863
Depreciation
At 01 April 2020 28,329
Charge for year 5,778
On disposals 0
Other adjustments 0
At 31 March 2021 34,107
Net book value
At 31 March 2021 5,756
At 31 March 2020 10,892

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

4. Creditors: amounts falling due within one year note

Creditors falling due within one year total £316,024 (2020: £310,793) and comprise: Trade creditors £2147,828 (2020: £310,793) and comprise: PAYE and social security £18,113 (2016: £16,251), VAT £46,736 (2020: £(8,454)), Bank loan £45,000, Other creditors £14,798 (2020: (£5,555)), Accruals and deferred income £43,550 (2020: £40,250)

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

5. Creditors: amounts falling due after more than one year note

Creditors falling due after one year comprise long term loans due to shareholders of £79,125 (2020: £79,125) and Bank loan repayable between one and five years of £195,000 (2020: £0). Interest on the shareholder loans is charged at Bank of England base rate, payable from 1 April 2011. There are no defined repayment dates.

THE DRH COLLECTION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2021

6. Related party transactions

Name of the related party: Mr P D Baughman
Relationship:
Director and Shareholder
Description of the Transaction: During the year the company purchased goods for resale from BIA Cordon Bleu HK Ltd. and BIA Cordon Bleu inc. amounting to £354,315. Mr P D Baughman, a director and shareholder of both these companies, is a director and shareholder in The DRH Collection Ltd..
£
Balance at 01 April 2020 7,457
Balance at 31 March 2021 302