IRIS Accounts Production v22.2.0.402 01824543 Board of Directors 1.1.21 31.12.21 31.12.21 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure018245432020-12-31018245432021-12-31018245432021-01-012021-12-31018245432019-12-31018245432020-01-012020-12-31018245432020-12-3101824543ns16:EnglandWales2021-01-012021-12-3101824543ns15:PoundSterling2021-01-012021-12-3101824543ns11:Director12021-01-012021-12-3101824543ns11:PrivateLimitedCompanyLtd2021-01-012021-12-3101824543ns11:SmallEntities2021-01-012021-12-3101824543ns11:AuditExempt-NoAccountantsReport2021-01-012021-12-3101824543ns11:SmallCompaniesRegimeForDirectorsReport2021-01-012021-12-3101824543ns11:SmallCompaniesRegimeForAccounts2021-01-012021-12-3101824543ns11:FullAccounts2021-01-012021-12-3101824543ns11:OrdinaryShareClass12021-01-012021-12-3101824543ns11:Director22021-01-012021-12-3101824543ns11:Director32021-01-012021-12-3101824543ns11:RegisteredOffice2021-01-012021-12-3101824543ns6:CurrentFinancialInstruments2021-12-3101824543ns6:CurrentFinancialInstruments2020-12-3101824543ns6:ShareCapital2021-12-3101824543ns6:ShareCapital2020-12-3101824543ns6:RetainedEarningsAccumulatedLosses2021-12-3101824543ns6:RetainedEarningsAccumulatedLosses2020-12-3101824543ns6:PlantMachinery2021-01-012021-12-3101824543ns6:PlantMachinery2020-12-3101824543ns6:FurnitureFittings2020-12-3101824543ns6:ComputerEquipment2020-12-3101824543ns6:FurnitureFittings2021-01-012021-12-3101824543ns6:ComputerEquipment2021-01-012021-12-3101824543ns6:PlantMachinery2021-12-3101824543ns6:FurnitureFittings2021-12-3101824543ns6:ComputerEquipment2021-12-3101824543ns6:PlantMachinery2020-12-3101824543ns6:FurnitureFittings2020-12-3101824543ns6:ComputerEquipment2020-12-3101824543ns6:WithinOneYearns6:CurrentFinancialInstruments2021-12-3101824543ns6:WithinOneYearns6:CurrentFinancialInstruments2020-12-3101824543ns6:DeferredTaxation2020-12-3101824543ns6:DeferredTaxation2021-01-012021-12-3101824543ns6:DeferredTaxation2021-12-3101824543ns11:OrdinaryShareClass12021-12-31
















DRAKESTOWN PROPERTIES LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2021






DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Contents of the Financial Statements
for the Year Ended 31 December 2021










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAKESTOWN PROPERTIES LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTORS: J R Hart
Mrs K J Hart
Mrs M C Bury





REGISTERED OFFICE: Queens Court Trading Estate
Greets Green Road
West Bromwich
West Midlands
B70 9EG





REGISTERED NUMBER: 01824543 (England and Wales)





ACCOUNTANTS: Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
B75 5BE

DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Balance Sheet
31 December 2021

2021 2020
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 4 34,171 30,158
Investment property 5 5,900,000 2,700,000
5,934,171 2,730,158

CURRENT ASSETS
Debtors 6 134,338 876,702
Cash at bank 292,973 91,137
427,311 967,839
CREDITORS
Amounts falling due within one year 7 (271,003 ) (1,360,121 )
NET CURRENT ASSETS/(LIABILITIES) 156,308 (392,282 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,090,479

2,337,876

PROVISIONS FOR LIABILITIES 8 (396,615 ) (5,730 )
NET ASSETS 5,693,864 2,332,146

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 5,693,862 2,332,144
SHAREHOLDERS' FUNDS 5,693,864 2,332,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Balance Sheet - continued
31 December 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 28 July 2022 and were signed on its behalf by:





J R Hart - Director


DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Notes to the Financial Statements
for the Year Ended 31 December 2021


1. STATUTORY INFORMATION

Drakestown Properties 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is comprised of amounts receivable from tenants for rent and utilities.

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 etc - 33% on cost and 15% on reducing balance

Government grants
Government grants have been recognised under the accruals model. Government grants relating to revenue expenditure are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

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.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2020 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2021 2,592 43,458 4,031 50,081
Additions 5,130 - 3,988 9,118
At 31 December 2021 7,722 43,458 8,019 59,199
DEPRECIATION
At 1 January 2021 924 15,611 3,388 19,923
Charge for year 379 4,177 549 5,105
At 31 December 2021 1,303 19,788 3,937 25,028
NET BOOK VALUE
At 31 December 2021 6,419 23,670 4,082 34,171
At 31 December 2020 1,668 27,847 643 30,158

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 2,700,000
Revaluations 3,200,000
At 31 December 2021 5,900,000
NET BOOK VALUE
At 31 December 2021 5,900,000
At 31 December 2020 2,700,000

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 3,200,000
Valuation in 2013 859,412
Cost 1,840,588
5,900,000

DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2021 2020
as restated
£    £   
Cost 1,840,588 1,840,588

Investment property was valued on an open market basis on 31 March 2022 by Siddall Jones .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
as restated
£    £   
Trade debtors 134,338 213,595
Other debtors - 663,107
134,338 876,702

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
as restated
£    £   
Taxation and social security 165,219 198,969
Other creditors 105,784 1,161,152
271,003 1,360,121

8. PROVISIONS FOR LIABILITIES
2021 2020
as restated
£    £   
Deferred tax
Other timing differences 390,122 -
Accelerated capital allowances 6,493 5,730
396,615 5,730

Deferred
tax
£   
Balance at 1 January 2021 5,730
Provided during year 390,885
Balance at 31 December 2021 396,615

DRAKESTOWN PROPERTIES LIMITED (REGISTERED NUMBER: 01824543)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021


9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: as
restated
£    £   
2 Ordinary £1 2 2