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2022-04-01
Sage Accounts Production 23.0 - FRS102_2023
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Company registration number:
11136603
Drurys Lettings Ltd
Unaudited filleted financial statements
31 March 2023
Drurys Lettings Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Drurys Lettings Ltd
Directors and other information
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Directors |
Mrs Kerry Jayne Drury |
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Mr Scott Alfred Drury |
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Company number |
11136603 |
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Registered office |
75 High Street |
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Boston |
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Lincs |
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PE21 8SX |
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Business address |
45 Willoughby Road |
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Boston |
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Lincs |
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PE21 9HN |
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Accountants |
Lister & Co |
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75 High Street |
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Boston |
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Lincs |
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PE21 8SX |
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Drurys Lettings Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Drurys Lettings Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Drurys Lettings Ltd for the year ended 31 March 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of Drurys Lettings Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Drurys Lettings Ltd and state those matters that we have agreed to state to the board of directors of Drurys Lettings Ltd as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Drurys Lettings Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Drurys Lettings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Drurys Lettings Ltd. You consider that Drurys Lettings Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Drurys Lettings Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Lister & Co
ACCA
75 High Street
Boston
Lincs
PE21 8SX
8 February 2024
Drurys Lettings Ltd
Statement of financial position
31 March 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
|
5 |
48,429 |
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63,783 |
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Cash at bank and in hand |
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11,825 |
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1,362 |
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_______ |
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_______ |
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60,254 |
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65,145 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
60,520) |
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(
37,093) |
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_______ |
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_______ |
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Net current (liabilities)/assets |
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(
266) |
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28,052 |
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_______ |
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_______ |
Total assets less current liabilities |
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(
266) |
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28,052 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
39,789) |
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(
31,662) |
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_______ |
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_______ |
Net liabilities |
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(
40,055) |
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(
3,610) |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
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100 |
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100 |
Profit and loss account |
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(
40,155) |
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(
3,710) |
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_______ |
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_______ |
Shareholders deficit |
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(
40,055) |
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(
3,610) |
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_______ |
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_______ |
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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.
Directors responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
08 February 2024
, and are signed on behalf of the board by:
Mr Scott Alfred Drury
Director
Company registration number:
11136603
Drurys Lettings Ltd
Notes to the financial statements
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England. The address of the registered office is 75 High Street, Boston, Lincs, PE21 8SX.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company continues to trade on the basis of continued support from the directors and intercompany loans.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
8
).
5.
Debtors
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2023 |
2022 |
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£ |
£ |
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Trade debtors |
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2,354 |
4,211 |
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Other debtors |
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46,075 |
59,572 |
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_______ |
_______ |
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48,429 |
63,783 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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14,256 |
10,005 |
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Trade creditors |
|
3,751 |
3,000 |
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Social security and other taxes |
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31,130 |
13,997 |
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Other creditors |
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11,383 |
10,091 |
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_______ |
_______ |
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60,520 |
37,093 |
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_______ |
_______ |
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7.
Creditors: amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
|
21,707 |
31,662 |
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Other creditors |
|
18,082 |
- |
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_______ |
_______ |
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39,789 |
31,662 |
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_______ |
_______ |
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8.
Called up share capital
Issued, called up and fully paid
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2023 |
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2022 |
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No |
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£ |
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No |
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£ |
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Ordinary shares of £
1.00 each |
|
100 |
|
100 |
|
100 |
|
100 |
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_______ |
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_______ |
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_______ |
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_______ |
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