DRACAENA READING LIMITED

Company Registration Number:
12143583 (England and Wales)

Unaudited abridged accounts for the year ended 31 August 2023

Period of accounts

Start date: 01 September 2022

End date: 31 August 2023

DRACAENA READING LIMITED

Contents of the Financial Statements

for the Period Ended 31 August 2023

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Balance sheet notes - 11

DRACAENA READING LIMITED

Company Information

for the Period Ended 31 August 2023




Director: Graeme Neil Fraser Tulloch
Philip Alexander Cotton
Amelia Tulloch
Registered office: 51
St. Margaret's Avenue
Cottingham
East Riding Of Yorkshire
HU16 5NS
Company Registration Number: 12143583 (England and Wales)

DRACAENA READING LIMITED

Directors' Report Period Ended 31 August 2023

The directors present their report with the financial statements of the company for the period ended 31 August 2023

Principal Activities

The principal activity of the company in the year under review was that of Drain Clearance & Survey.

Directors

The directors shown below have held office during the whole of the period from 01 September 2022 to 31 August 2023
Graeme Neil Fraser Tulloch
Philip Alexander Cotton
Amelia Tulloch

This report was approved by the board of directors on 31 December 2023
And Signed On Behalf Of The Board By:

Name: Philip Alexander Cotton
Status: Director

DRACAENA READING LIMITED

Profit and Loss Account

for the Period Ended 31 August 2023


Notes

2023
£

2022
£
Gross Profit or (Loss) 659,130 477,812
Administrative Expenses ( 432,028 ) ( 318,618 )
Operating Profit or (Loss) 227,102 159,194
Interest Payable and Similar Charges ( 27,611 ) ( 30,740 )
Profit or (Loss) Before Tax 199,491 128,454
Tax on Profit ( 31,890 ) ( 0 )
Profit or (Loss) for Period 167,601 128,454

The notes form part of these financial statements

DRACAENA READING LIMITED

Balance sheet

As at 31 August 2023


Notes

2023
£

2022
£
Fixed assets
Intangible assets: 4 258,358 281,745
Tangible assets: 5 262,953 349,525
Total fixed assets: 521,311 631,270
Current assets
Stocks: 2,000 2,000
Debtors: 317,063 367,706
Cash at bank and in hand: 172,104 11,622
Total current assets: 491,167 381,328
Creditors: amounts falling due within one year: ( 281,574 ) ( 317,667 )
Net current assets (liabilities): 209,593 63,661
Total assets less current liabilities: 730,904 694,931
Creditors: amounts falling due after more than one year: ( 418,026 ) ( 489,719 )
Total net assets (liabilities): 312,878 205,212

The notes form part of these financial statements

DRACAENA READING LIMITED

Balance sheet continued

As at 31 August 2023


Notes

2023
£

2022
£
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 312,778 205,112
Shareholders funds: 312,878 205,212

For the year ending 31 August 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 31 December 2023
And Signed On Behalf Of The Board By:

Name: Philip Alexander Cotton
Status: Director

The notes form part of these financial statements

DRACAENA READING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents net invoiced sales of goods and services, excluding Value Added Tax.

    Tangible fixed assets depreciation policy

    Depreciation is provided at the following annual rates in order to write off each tangible fixed asset over its estimated
    useful life:
    Plant & Machinery 25% (reducing balance)
    Motor Vehicles 25% (reducing balance)
    Equipment 25% (reducing balance)

    Intangible fixed assets amortisation policy

    Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic

    Franchise Agreement 6.67% (straight line)

    Other accounting policies

    Hire Purchase Agreements Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

DRACAENA READING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 2. Employees


    2023

    2022
    Average number of employees during the period 14 12

DRACAENA READING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 3. Off balance sheet disclosure

    No

DRACAENA READING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

  • 4. Intangible assets

    Total
    Cost £
    At 01 September 2022 345,756
    Additions -
    Disposals -
    Revaluations -
    Transfers -
    At 31 August 2023 345,756
    Amortisation
    Amortisation at 01 September 2022 64,011
    Charge for year 23,387
    On disposals -
    Other adjustments -
    Amortisation at 31 August 2023 87,398
    Net book value
    Net book value at 31 August 2023 258,358
    Net book value at 31 August 2022 281,745

DRACAENA READING LIMITED

Notes to the Financial Statements

for the Period Ended 31 August 2023

5. Tangible Assets

Total
Cost £
At 01 September 2022 467,841
Additions -
Disposals (24,454)
Revaluations -
Transfers -
At 31 August 2023 443,387
Depreciation
At 01 September 2022 118,316
Charge for year 82,441
On disposals (20,323)
Other adjustments -
At 31 August 2023 180,434
Net book value
At 31 August 2023 262,953
At 31 August 2022 349,525