Company Registration No. 4268119 (England and Wales)
DRAKE LAND DEVELOPMENTS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
DRAKE LAND DEVELOPMENTS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
DRAKE LAND DEVELOPMENTS LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
4,138,327
4,142,645
Current assets
Debtors
1,517,377
1,460,941
Cash at bank and in hand
1
6,274
1,517,378
1,467,215
Creditors: amounts falling due within one year
(1,003,683)
(896,953)
Net current assets
513,695
570,262
Total assets less current liabilities
4,652,022
4,712,907
Capital and reserves
Called up share capital
3
1
1
Revaluation reserve
2,138,000
2,138,000
Profit and loss account
2,514,021
2,574,906
Shareholders' funds
4,652,022
4,712,907
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 November 2017
Mr Chris Drake
Director
Company Registration No. 4268119
DRAKE LAND DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Other fixed assets
Computer equipment
25%
Fixtures, fittings & equipment
10%
Motor vehicles
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 September 2015 & at 31 August 2016
4,204,640
Depreciation
At 1 September 2015
61,995
Charge for the year
4,318
At 31 August 2016
66,313
Net book value
At 31 August 2016
4,138,327
At 31 August 2015
4,142,645
DRAKE LAND DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1
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