H.I. Drake Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00657530 (England and Wales)

Unaudited Cessation Financial Statements

for the Period

1 May 2017 to 31 October 2018

for

H.I. Drake Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

B A Drake

Ms M A Fazackerley

G Drake

REGISTERED OFFICE:

Suite 1

Hill House

Regent Street

Lutterworth

Leicestershire

LE17 4BE

REGISTERED NUMBER:

00657530 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors 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 Directors 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 H.I. Drake Limited for the period ended 31 October 2018 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 Board of Directors of H.I. Drake Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H.I. Drake Limited and state those matters that we have agreed to state to the Board of Directors of H.I. Drake Limited, as a body, 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 H.I. Drake Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that H.I. Drake 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 profit of H.I. Drake Limited. You consider that H.I. Drake Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of H.I. Drake 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.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

7 December 2018

FIXED ASSETS

Investment property

3

-

150,000

CURRENT ASSETS

Stocks

4

-

313

Cash at bank

171,927

-

171,927

313

CREDITORS

Amounts falling due within one year

5

46,961

9,659

NET CURRENT ASSETS/(LIABILITIES)

124,966

(9,346

)

TOTAL ASSETS LESS CURRENT LIABILITIES

124,966

140,654

PROVISIONS FOR LIABILITIES

-

26,796

NET ASSETS

124,966

113,858

CAPITAL AND RESERVES

Called up share capital

6

250

250

Revaluation reserve

7

-

120,478

Retained earnings

124,716

(6,870

)

SHAREHOLDERS' FUNDS

124,966

113,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2018 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7 December 2018 and were signed on its behalf by:

G Drake - Director

1.	STATUTORY INFORMATION

H.I. Drake 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 represents amounts receivable from the rental of investment property.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

150,000

Disposals

(150,000

)

At 31 October 2018

-

NET BOOK VALUE

At 31 October 2018

-

At 30 April 2017

150,000

4.

STOCKS

31.10.18

30.4.17

£

£

Land

-

313

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.18

30.4.17

£

£

Bank loans and overdrafts

-

40

Corporation tax

2,886

-

Other creditors

40,475

7,519

Accruals and deferred income

3,600

2,100

46,961

9,659

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.18

30.4.17

value:

£

£

250

Ordinary

£1

250

250

7.

RESERVES

Revaluation

reserve

£

At 1 May 2017

120,478

Revaluation transfer

(120,478

)

At 31 October 2018

-

8.	RELATED PARTY DISCLOSURES

The company's properties are let for a £Nil rental to Lutterworth Property Management Company

Limited, a company in which the directors have a material interest by virtue of their shareholding.

Income and property expenses relating to these properties are accounted for by Lutterworth

Property Management Company Limited. The rents received for the property owned H I Drake

Limited has been transferred to H I Drake Limited accordingly.

Included in creditors at the year end is a loan of £15,217 (2017:£2,216) from Lutterworth Property

Management Company Limited. The loan is interest free and repayable on demand.

9.	YEAR END EXTENSION

The company has extended it's year end in order to wind up the company accordingly.