Drexl and Floyd Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 05864431 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

Drexl and Floyd Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

Mr S Collins

SECRETARY:

ITA Secretaries Limited

REGISTERED OFFICE:

Units SCF 1&2, South Core

Western International Market

Hayes Road

Southall

Middlesex

UB2 5XJ

REGISTERED NUMBER:

05864431 (England and Wales)

ACCOUNTANTS:

Cooper Dawn Jerrom Limited

Chartered Accountants

Units SCF 1 & 2

Western International Market

Hayes Road

Southall

Middlesex

UB2 5XJ

FIXED ASSETS

Tangible assets

4

4,390

5,853

Investments

5

49,606

49,606

53,996

55,459

CURRENT ASSETS

Debtors

6

207,111

256,926

Cash at bank

4,114

6,215

211,225

263,141

CREDITORS

Amounts falling due within one year

7

11,216

49,184

NET CURRENT ASSETS

200,009

213,957

TOTAL ASSETS LESS CURRENT LIABILITIES

254,005

269,416

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

253,905

269,316

SHAREHOLDERS' FUNDS

254,005

269,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 11 May 2017 and were signed by:

Mr S Collins - Director

1.	STATUTORY INFORMATION

Drexl and Floyd 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 "Small Entities" 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 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 the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Bicycle

-

25% on cost

Computer equipment

-

25% on reducing balance

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

Bicycle

equipment

Totals

£

£

£

£

COST

At 1 January 2016

and 31 December 2016

21,706

2,537

6,965

31,208

DEPRECIATION

At 1 January 2016

18,340

1,846

5,169

25,355

Charge for year

841

173

449

1,463

At 31 December 2016

19,181

2,019

5,618

26,818

NET BOOK VALUE

At 31 December 2016

2,525

518

1,347

4,390

At 31 December 2015

3,366

691

1,796

5,853

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.12.16

31.12.15

£

£

Other investments

49,606

49,606

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

28,911

50,043

Other debtors

178,200

206,883

207,111

256,926

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Taxation and social security

1,166

42,734

Other creditors

10,050

6,450

11,216

49,184

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

31.12.16

31.12.15

£

£

Mr S Collins

Balance outstanding at start of year

139,413

65,358

Amounts advanced

-

74,055

Amounts repaid

(22,078

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

117,335

139,413

The director's overdrawn amount has been repaid after the year end.

9.	RELATED PARTY DISCLOSURES

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Collins.

The following reproduces the text of the report prepared for the director and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Drexl and Floyd Limited for the year ended 31 December 2016 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Drexl and Floyd Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Drexl and Floyd Limited and state those matters that we have agreed to state to the director of Drexl and Floyd Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drexl and Floyd Limited director for our work or for this report.

It is your duty to ensure that Drexl and Floyd Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Drexl and Floyd Limited. You consider that Drexl and Floyd Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Drexl and Floyd Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Cooper Dawn Jerrom Limited

Chartered Accountants

Units SCF 1 & 2

Western International Market

Hayes Road

Southall

Middlesex

UB2 5XJ

11 May 2017