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DRS16 LTD

Registered Number
10340220
(England and Wales)

Unaudited Financial Statements for the Period ended
31 January 2023

DRS16 LTD
Company Information
for the period from 1 September 2021 to 31 January 2023

Directors | MCCROSSAN, Jill
| MCCROSSAN, Joseph Sean

Registered Address | Bowers Cottage Hall Lane
| Mobberly
| Knutsford
| WA16 7AQ

Registered Number | 10340220 (England and Wales)

DRS16 LTD
Balance Sheet as at
31 January 2023

| Notes | 31 Jan 2023 |  | 31 Aug 2021
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 6 |  |  | 45,118 |  |  |  | 40,799
|  |  |  | 45,118 |  |  |  | 40,799
Current assets |  |  |  |  |  |  |  |
Stocks | 7 | - |  |  |  | 7,864 |  |
Debtors | 8 | 14,330 |  |  |  | 1,363 |  |
Cash at bank and on hand |  | 3,137 |  |  |  | 7,527 |  |
|  | 17,467 |  |  |  | 16,754 |  |
Creditors amounts falling due within one year | 9 | (28,295) |  |  |  | (26,308) |  |
Net current assets (liabilities) |  |  |  | (10,828) |  |  |  | (9,554)
Total assets less current liabilities |  |  |  | 34,290 |  |  |  | 31,245
Creditors amounts falling due after one year | 10 |  |  | (30,249) |  |  |  | (17,523)
Provisions for liabilities | 12 |  |  | (4,029) |  |  |  | (7,752)
Net assets |  |  |  | 12 |  |  |  | 5,970
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 1 |  |  |  | 1
Profit and loss account |  |  |  | 11 |  |  |  | 5,969
Shareholders' funds |  |  |  | 12 |  |  |  | 5,970

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 27 June 2023, and are signed on its behalf by:
MCCROSSAN, Joseph Sean Director Registered Company No. 10340220

DRS16 LTD
Notes to the Financial Statements
for the period ended 31 January 2023

1. | Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. | Compliance with applicable reporting framework
--- | ---
| The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

3. | Principal activities
--- | ---
| The Principle activity of the company is consulting.

4. | Accounting policies
--- | ---

| Property, plant and equipment policy
--- | ---
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

|  | Reducing balance (%)
| Plant and machinery | 25
| Fixtures and fittings | 15
| Vehicles | 25
| Office Equipment | 25

| Stocks policy
--- | ---
| Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

| Revenue recognition policy
--- | ---
| Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

| Deferred tax policy
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Foreign currency translation and operations policy
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Leases policy
--- | ---
| Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

5. | Employee information
--- | ---

|  | 2023 |  | 2021
| Average number of employees during the year | 2 |  | 2

6. | Property, plant and equipment
--- | ---

|  | Plant & machinery |  | Vehicles |  | Office Equipment |  | Total
--- | --- | --- | --- | --- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
| Cost or valuation
| At 01 September 21 | 2,911 |  | 49,050 |  | 12,335 |  | 64,296
| Additions | - |  | 28,059 |  | - |  | 28,059
| Disposals | - |  | (10,800) |  | - |  | (10,800)
| At 31 January 23 | 2,911 |  | 66,309 |  | 12,335 |  | 81,555
| Depreciation and impairment
| At 01 September 21 | 851 |  | 16,815 |  | 5,831 |  | 23,497
| Charge for year | 676 |  | 17,377 |  | 1,542 |  | 19,595
| On disposals | - |  | (6,655) |  | - |  | (6,655)
| At 31 January 23 | 1,527 |  | 27,537 |  | 7,373 |  | 36,437
| Net book value
| At 31 January 23 | 1,384 |  | 38,772 |  | 4,962 |  | 45,118
| At 31 August 21 | 2,060 |  | 32,235 |  | 6,504 |  | 40,799

7. | Stocks
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Work in progress | - |  | 7,864
| Total | - |  | 7,864

8. | Debtors
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 2,833 |  | 504
| Other debtors | 11,295 |  | 439
| Prepayments and accrued income | 202 |  | 420
| Total | 14,330 |  | 1,363

| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

9. | Creditors within one year
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 198 |  | -
| Bank borrowings and overdrafts | 3,958 |  | 2,101
| Taxation and social security | 16,261 |  | 12,838
| Finance lease and HP contracts | 5,878 |  | -
| Other creditors | - |  | 10,018
| Accrued liabilities and deferred income | 2,000 |  | 1,351
| Total | 28,295 |  | 26,308

| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

10. | Creditors after one year
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 11,377 |  | 17,523
| Other creditors | 18,872 |  | -
| Total | 30,249 |  | 17,523

11. | Finance lease and HP contracts after one year
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Finance lease and HP contracts | 18,872 |  | -

12. | Provisions for liabilities
--- | ---

|  | 2023 |  | 2021
--- | --- | --- | --- | ---
|  | £ |  | £
| Net deferred tax liability (asset) | 4,029 |  | 7,752
| Total | 4,029 |  | 7,752