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Company Registration No. 06004670 (England and Wales)
Drive Botswana Ltd Unaudited accounts for the year ended 31 January 2023
Drive Botswana Ltd Unaudited accounts Contents
Page
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Drive Botswana Ltd Company Information for the year ended 31 January 2023
Directors
A Raggett P Raggett D Raggett H V Raggett
Secretary
P Raggett
Company Number
06004670 (England and Wales)
Registered Office
34 Birch Valley Road Kidsgrove Stoke-on-Trent Staffordshire ST7 4GN
Accountants
AP Accountancy Ltd 34 Birch Valley Road Kidsgrove Stoke-on-Trent ST7 4GN
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Drive Botswana Ltd Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
836 
Tangible assets
- 
3,428 
Investments
2 
2 
2 
4,266 
Current assets
Debtors
435,097 
304,763 
Investments
12,919 
9,183 
Cash at bank and in hand
166,519 
69,037 
614,535 
382,983 
Creditors: amounts falling due within one year
(603,832)
(435,440)
Net current assets/(liabilities)
10,703 
(52,457)
Total assets less current liabilities
10,705 
(48,191)
Creditors: amounts falling due after more than one year
(55,000)
(75,000)
Provisions for liabilities
Deferred tax
- 
(651)
Net liabilities
(44,295)
(123,842)
Capital and reserves
Called up share capital
20 
20 
Profit and loss account
(44,315)
(123,862)
Shareholders' funds
(44,295)
(123,842)
For the year ending 31 January 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by
P Raggett Director Company Registration No. 06004670
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Drive Botswana Ltd Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Drive Botswana Ltd is a private company, limited by shares, registered in England and Wales, registration number 06004670. The registered office is 34 Birch Valley Road, Kidsgrove, Stoke-on-Trent, Staffordshire, ST7 4GN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers. Income and associated costs are recognised when a client makes a binding booking under the terms displayed at www.drivebotswana.com
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% to 33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset. Deferred tax assets and liabilities are not discounted.
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Drive Botswana Ltd Notes to the Accounts for the year ended 31 January 2023
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 February 2022
3,347 
At 31 January 2023
3,347 
Amortisation
At 1 February 2022
2,511 
Charge for the year
836 
At 31 January 2023
3,347 
Net book value
At 31 January 2023
- 
At 31 January 2022
836 
5
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 February 2022
32,390 
At 31 January 2023
32,390 
Depreciation
At 1 February 2022
28,962 
Charge for the year
3,428 
At 31 January 2023
32,390 
Net book value
At 31 January 2023
- 
At 31 January 2022
3,428 
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Drive Botswana Ltd Notes to the Accounts for the year ended 31 January 2023
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 February 2022
2 
Valuation at 31 January 2023
2 
The company made an investment in its wholly owned subsidiary Drive Namibia Ltd.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
398,902 
278,158 
Amounts due from group undertakings etc.
10,731 
10,731 
Other debtors
25,464 
15,874 
435,097 
304,763 
8
Investments held as current assets
2023 
2022 
£ 
£ 
Unlisted investments
12,919 
9,183 
The above amounts relate to monies paid for forward foreign exchange contracts to protect the company against adverse movements in exchange rates. Any gain or loss arising from the contracts is recognised in the Income Statement.
9
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
20,000 
20,000 
Trade creditors
567,612 
412,942 
Taxes and social security
13,471 
60 
Other creditors
2,749 
2,438 
603,832 
435,440 
10
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
55,000 
75,000 
11
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20 
20 
12
Transactions with related parties
During the year the directors made payments to Jubul Pty of £6,450 (2022: £2,400) for services provided to clients of Drive Botswana Ltd in Botswana . This is a company registered in Botswana and jointly owned by three of the directors of Drive Botswana Ltd.
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Drive Botswana Ltd Notes to the Accounts for the year ended 31 January 2023
13
Controlling party
A Raggett and P Raggett the directors and shareholders are the ultimate controlling party.
14
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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