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REGISTERED NUMBER: 03324202 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

DRAKE AND COMPANY CONSULTANTS LIMITED

DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAKE AND COMPANY CONSULTANTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: Warren Drake





SECRETARY: Warren Drake





REGISTERED OFFICE: C/o Defries Weiss
1 Bridge Lane
London
NW11 0EA





REGISTERED NUMBER: 03324202 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Website development 4 - -
Tangible assets 5 49,536 38,316
49,536 38,316

CURRENT ASSETS
Debtors 6 27,856 62,163
Cash at bank and in hand 81,825 33,549
109,681 95,712
CREDITORS
Amounts falling due within one year 7 75,803 87,374
NET CURRENT ASSETS 33,878 8,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,414

46,654

CREDITORS
Amounts falling due after more than one year 8 (24,907 ) (35,145 )

PROVISIONS FOR LIABILITIES (12,312 ) (7,214 )
NET ASSETS 46,195 4,295

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 46,095 4,195
SHAREHOLDERS' FUNDS 46,195 4,295

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)

BALANCE SHEET - continued
28 FEBRUARY 2023


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 director and authorised for issue on 2 October 2023 and were signed by:





Warren Drake - Director


DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Drake and Company Consultants 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 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 net invoiced sales of services, excluding value added tax.

Intangible fixed assets
The cost of website development has been amortised over its estimated useful life of four years.

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

Computer equipment25% of the reducing balance
Furniture and fixtures20% of the reducing balance
Motor Vehicles25% of the reducing balance


Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and accounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.


DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

4. WEBSITE DEVELOPMENT
Other
intangible
assets
£   
COST
At 1 March 2022
and 28 February 2023 36,000
AMORTISATION
At 1 March 2022
and 28 February 2023 36,000
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022 116,435
Additions 24,881
At 28 February 2023 141,316
DEPRECIATION
At 1 March 2022 78,119
Charge for year 13,661
At 28 February 2023 91,780
NET BOOK VALUE
At 28 February 2023 49,536
At 28 February 2022 38,316

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 26,400 61,414
Other debtors 1,456 749
27,856 62,163

DRAKE AND COMPANY CONSULTANTS LIMITED (REGISTERED NUMBER: 03324202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 9,961 10,887
Trade creditors 2,009 45,834
Taxation and social security 56,992 27,068
Other creditors 6,841 3,585
75,803 87,374

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 24,907 35,145

9. FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to payments totalling £2,260 (2022: £9,040) for equipment under operating leases which expire in June 2023. The commitment includes £2,260 (2022: £6,779) that is due within one year.