Draw Create Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04943890 (England and Wales)

Draw Create Limited

Financial Statements For The Year Ended 31 December 2017

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M Cunningham

Mr T S McDonald

REGISTERED OFFICE:

Building 3, Unit 2

The Leathermarket

Weston Street

London

SE1 3ER

REGISTERED NUMBER:

04943890 (England and Wales)

FIXED ASSETS

Tangible assets

4

137,583

96,268

CURRENT ASSETS

Debtors

5

1,454,305

701,825

Cash at bank and in hand

360,767

123,794

1,815,072

825,619

CREDITORS

Amounts falling due within one year

6

(898,283

)

(473,811

)

NET CURRENT ASSETS

916,789

351,808

TOTAL ASSETS LESS CURRENT

LIABILITIES

1,054,372

448,076

CREDITORS

Amounts falling due after more than one

year

7

-

(47,495

)

PROVISIONS FOR LIABILITIES

-

(15,444

)

NET ASSETS

1,054,372

385,137

CAPITAL AND RESERVES

Called up share capital

1,578

Share premium

13,600

Retained earnings

1,039,194

369,959

SHAREHOLDERS' FUNDS

1,054,372

385,137

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 26 September 2018 and were signed on its behalf

by:

Mr M Cunningham - Director

1.	STATUTORY INFORMATION

Draw Create 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

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

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

Plant and machinery

-

25% on cost

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at

the balance sheet date. Foreign currency translations are translated at the rates of exchange at the dates the

transactions occurred.

All gains and losses arising from foreign exchange transactions are dealt with in the profit and loss account.

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.

Leasing commitments

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and

reward of ownership of the leased asset to the company. All other leases are classified as operating leases.

Rentals paid under operating leases are charged on a straight-line basis over the lease term, even if payments are

not made on such a basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2016 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2017

134,051

Additions

99,770

At 31 December 2017

233,821

DEPRECIATION

At 1 January 2017

37,783

Charge for year

58,455

At 31 December 2017

96,238

NET BOOK VALUE

At 31 December 2017

137,583

At 31 December 2016

96,268

Draw Create Limited - Accounts to registrar (filleted) - small 18.2

Draw Create Limited - Accounts to registrar (filleted) - small 18.2