Registered number
08971260
DRAYCOTT CONSTRUCTION LIMITED
Filleted Accounts
30 April 2023
DRAYCOTT CONSTRUCTION LIMITED
Registered number: 08971260
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 5,360 5,901
Current assets
Debtors 4 2,031 5,322
Cash at bank and in hand 168,131 237,930
170,162 243,252
Creditors: amounts falling due within one year 5 (293,603) (297,245)
Net current liabilities (123,441) (53,993)
Net liabilities (118,081) (48,092)
Capital and reserves
Called up share capital 100 100
Profit and loss account (118,181) (48,192)
Shareholder's funds (118,081) (48,092)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sajid Ghaffar
Director
Approved by the board on 27 September 2023
DRAYCOTT CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 30 April 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
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.
Creditors
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Equipment
£
Cost
At 1 May 2022 17,709
Additions 1,246
At 30 April 2023 18,955
Depreciation
At 1 May 2022 11,808
Charge for the year 1,787
At 30 April 2023 13,595
Net book value
At 30 April 2023 5,360
At 30 April 2022 5,901
4 Debtors 2023 2022
£ £
Other debtors 2,031 5,322
5 Creditors: amounts falling due within one year 2023 2022
£ £
Director's current accounts 292,753 292,753
Accrued expenses 850 4,492
293,603 297,245
6 Controlling party
The company is controlled by Mr S Ghaffar, who owns 100% of the shareholding.
7 Other information
DRAYCOTT CONSTRUCTION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Harlech Court
Bute Terrace
Cardiff
Wales
CF10 2FE
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