Draw Create Limited - Accounts to registrar - small 17.2
Draw Create Limited - Accounts to registrar - small 17.2
REGISTERED NUMBER: |
Draw Create Limited |
Unaudited Financial Statements For The Year Ended 31 December 2016 |
Draw Create Limited (Registered number: 04943890) |
Contents of the Financial Statements |
For The Year Ended 31 December 2016 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Draw Create Limited |
Company Information |
For The Year Ended 31 December 2016 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Draw Create Limited (Registered number: 04943890) |
Statement of Financial Position |
31 December 2016 |
2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Draw Create Limited (Registered number: 04943890) |
Statement of Financial Position - continued |
31 December 2016 |
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 |
Draw Create Limited (Registered number: 04943890) |
Notes to the Financial Statements |
For The Year Ended 31 December 2016 |
1. | STATUTORY INFORMATION |
Draw Create Limited is a |
registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
The turnover shown in the profit and loss account represents services performed during the year, exclusive of |
Value Added Tax. Turnover in respect of long-term contracts and contracts for on-going services is recognised |
by reference to the stage of completion. |
Tangible fixed assets |
Plant and machinery | - |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Draw Create Limited (Registered number: 04943890) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2016 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2016 |
Additions |
Disposals | ( |
) |
At 31 December 2016 |
DEPRECIATION |
At 1 January 2016 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2016 |
NET BOOK VALUE |
At 31 December 2016 |
At 31 December 2015 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts (see note 8) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts (see note 8) |
8. | LEASING AGREEMENTS |
Draw Create Limited (Registered number: 04943890) |
Notes to the Financial Statements - continued |
For The Year Ended 31 December 2016 |
8. | LEASING AGREEMENTS - continued |
Non-cancellable |
operating leases |
2016 | 2015 |
£ | £ |
Within one year |
Between one and five years |
9. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions with wholly owned subsidiaries within the group. |
During the year Draw Create Limited made payments on behalf of Draw Connect Limited, 51% owned by Draw |
Group London Limited. |
Draw Create Limited provided services at arm's length in the year of £153,289 (2015 - £42,429). |
Draw Connect Limited also provided services at arm's length in the year to Draw Create Limited totalling |
£106,171 (2015: Nil). At the year end a net balance of £69,750 was owed by Draw Create to Draw Connect |
(2015: £20,563 owed to the company). |
10. | ULTIMATE PARENT COMPANY |
The company was under the control of Mr F Brown throughout the current and previous year. Mr F Brown is the |
managing director and majority shareholder of the parent company Draw Group London Limited. |
The company is part of a small group and, as such, not required to prepare group financial statements. |
11. | TRANSITION TO FRS 102 |
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 |
January 2015. |
No transitional adjustments were required in equity or income statement for the year. |