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REGISTERED NUMBER: 00753185 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

DRAKE STREET PROPERTIES LIMITED

DRAKE STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00753185)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


DRAKE STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00753185)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 100,000 100,000

CURRENT ASSETS
Debtors 5 2,075 21,728
Cash at bank 26,685 5,963
28,760 27,691
CREDITORS
Amounts falling due within one year 6 996 1,045
NET CURRENT ASSETS 27,764 26,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,764

126,646

PROVISIONS FOR LIABILITIES 9,122 9,122
NET ASSETS 118,642 117,524

CAPITAL AND RESERVES
Called up share capital 2,400 2,400
Capital redemption reserve 7 800 800
Retained earnings 7 115,442 114,324
SHAREHOLDERS' FUNDS 118,642 117,524

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00753185)

BALANCE SHEET - continued
31 MARCH 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2023 and were signed on its behalf by:





S J Unsworth - Director


DRAKE STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00753185)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Drake Street Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 00753185

Registered office: 5 Brooklands Place
Brooklands Road
Sale
Cheshire
M33 3SD

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is carried at fair value and revaluation surpluses are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

DRAKE STREET PROPERTIES LIMITED (REGISTERED NUMBER: 00753185)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 100,000
NET BOOK VALUE
At 31 March 2023 100,000
At 31 March 2022 100,000

The investment property is stated at fair value which has been accounted for as deemed cost in accordance with the company's accounting policy.

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2018 64,866
Valuation in 2019 30,000
Cost 5,134
100,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 5,134 5,134

Investment property was valued on open market basis on 31 March 2023 by the director .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 95 378
Other debtors 1,980 21,350
2,075 21,728

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other creditors 996 1,045

7. RESERVES

Included within retained earnings are fair value gains on investment properties of £94,866 (2022 - £94,866) net of deferred tax of £9,022 (2022 - £9,022), which are not available for distribution as they are unrealised.