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Company Registration No. 09455305 (England and Wales)
Drake Electrical Contractors Limited Unaudited accounts for the year ended 31 March 2023
Drake Electrical Contractors Limited Unaudited accounts Contents
Page
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Drake Electrical Contractors Limited Company Information for the year ended 31 March 2023
Directors
Timothy Drake Bryony Ling
Company Number
09455305 (England and Wales)
Registered Office
21 WRITTLE ROAD CHELMSFORD ESSEX CM1 3BS
Accountants
Finer Accountancy Ltd 36 Brook Lane Galleywood Chelmsford Essex CM2 8NL
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Drake Electrical Contractors Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
154,672 
68,721 
Current assets
Debtors
166,180 
77,789 
Cash at bank and in hand
71,037 
28,437 
237,217 
106,226 
Creditors: amounts falling due within one year
(201,881)
(122,035)
Net current assets/(liabilities)
35,336 
(15,809)
Total assets less current liabilities
190,008 
52,912 
Creditors: amounts falling due after more than one year
(69,983)
(11,352)
Net assets
120,025 
41,560 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
119,925 
41,460 
Shareholders' funds
120,025 
41,560 
For the year ending 31 March 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 10 November 2023 and were signed on its behalf by
Timothy Drake Director Company Registration No. 09455305
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Drake Electrical Contractors Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
Drake Electrical Contractors Limited is a private company, limited by shares, registered in England and Wales, registration number 09455305. The registered office is 21 WRITTLE ROAD, CHELMSFORD, ESSEX, CM1 3BS.
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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% Straight Line
Computer equipment
25% Straight Line
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2022
- 
68,732 
- 
30,278 
99,010 
Additions
15,199 
121,319 
1,409 
3,906 
141,833 
At 31 March 2023
15,199 
190,051 
1,409 
34,184 
240,843 
Depreciation
At 1 April 2022
- 
17,311 
- 
12,978 
30,289 
Charge for the year
3,799 
43,185 
352 
8,546 
55,882 
At 31 March 2023
3,799 
60,496 
352 
21,524 
86,171 
Net book value
At 31 March 2023
11,400 
129,555 
1,057 
12,660 
154,672 
At 31 March 2022
- 
51,421 
- 
17,300 
68,721 
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Drake Electrical Contractors Limited Notes to the Accounts for the year ended 31 March 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
166,180 
77,789 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
49,137 
- 
VAT
18,824 
8,531 
Obligations under finance leases and hire purchase contracts
31,795 
4,572 
Trade creditors
37,892 
33,767 
Taxes and social security
5,563 
5,251 
Other creditors
438 
300 
Loans from directors
58,232 
69,614 
201,881 
122,035 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Obligations under finance leases and hire purchase contracts
69,983 
11,352 
8
Average number of employees
During the year the average number of employees was 5 (2022: 3).
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