Silverfin false 30/04/2023 01/05/2022 30/04/2023 J V Easton 28/04/2017 T Young-Jamieson 28/04/2017 11 April 2024 The principal activity of the Company during the financial year was that of retail sale in commercial art galleries. 10745577 2023-04-30 10745577 bus:Director1 2023-04-30 10745577 bus:Director2 2023-04-30 10745577 2022-04-30 10745577 core:CurrentFinancialInstruments 2023-04-30 10745577 core:CurrentFinancialInstruments 2022-04-30 10745577 core:Non-currentFinancialInstruments 2023-04-30 10745577 core:Non-currentFinancialInstruments 2022-04-30 10745577 core:ShareCapital 2023-04-30 10745577 core:ShareCapital 2022-04-30 10745577 core:RetainedEarningsAccumulatedLosses 2023-04-30 10745577 core:RetainedEarningsAccumulatedLosses 2022-04-30 10745577 core:LandBuildings 2022-04-30 10745577 core:FurnitureFittings 2022-04-30 10745577 core:LandBuildings 2023-04-30 10745577 core:FurnitureFittings 2023-04-30 10745577 bus:OrdinaryShareClass1 2023-04-30 10745577 2022-05-01 2023-04-30 10745577 bus:FullAccounts 2022-05-01 2023-04-30 10745577 bus:SmallEntities 2022-05-01 2023-04-30 10745577 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 10745577 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 10745577 bus:Director1 2022-05-01 2023-04-30 10745577 bus:Director2 2022-05-01 2023-04-30 10745577 core:LandBuildings core:TopRangeValue 2022-05-01 2023-04-30 10745577 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 10745577 2021-05-01 2022-04-30 10745577 core:LandBuildings 2022-05-01 2023-04-30 10745577 core:FurnitureFittings 2022-05-01 2023-04-30 10745577 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 10745577 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 10745577 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10745577 (England and Wales)

DRANG HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

DRANG HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

DRANG HOLDINGS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
DRANG HOLDINGS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTORS J V Easton
T Young-Jamieson
REGISTERED OFFICE Nansough Manor
Ladock
Truro
TR2 4PB
England
United Kingdom
COMPANY NUMBER 10745577 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
DRANG HOLDINGS LIMITED

BALANCE SHEET

As at 30 April 2023
DRANG HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 0 38,710
0 38,710
Current assets
Stocks 0 67,320
Debtors 4 202,013 69,374
Cash at bank and in hand 62 31,692
202,075 168,386
Creditors: amounts falling due within one year 5 ( 98,892) ( 96,625)
Net current assets 103,183 71,761
Total assets less current liabilities 103,183 110,471
Creditors: amounts falling due after more than one year 6 ( 20,833) ( 30,833)
Provision for liabilities 0 ( 7,762)
Net assets 82,350 71,876
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 82,250 71,776
Total shareholders' funds 82,350 71,876

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Drang Holdings Limited (registered number: 10745577) were approved and authorised for issue by the Board of Directors on 11 April 2024. They were signed on its behalf by:

J V Easton
Director
DRANG HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
DRANG HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Drang Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nansough Manor, Ladock, Truro, TR2 4PB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- specific criteria have been met for each of the company's activities.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 8 years straight line
Fixtures and fittings 8 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 01 May 2022 44,302 26,109 70,411
Disposals ( 44,302) ( 26,109) ( 70,411)
At 30 April 2023 0 0 0
Accumulated depreciation
At 01 May 2022 21,864 9,837 31,701
Charge for the financial year 5,002 3,264 8,266
Disposals ( 26,866) ( 13,101) ( 39,967)
At 30 April 2023 0 0 0
Net book value
At 30 April 2023 0 0 0
At 30 April 2022 22,438 16,272 38,710

4. Debtors

2023 2022
£ £
Trade debtors 0 18,500
Other debtors 202,013 50,874
202,013 69,374

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 15,921
Trade creditors 2,223 11,482
Taxation and social security 32,147 9,922
Other creditors 54,522 59,300
98,892 96,625

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 20,833 30,833

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £nil (2022 - £18,375). The commitment relates to the short term leasehold premises and is payable until November 2022.

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Balance brought forward 28,632 39,956
Advances to director 142,917 29,148
Repayments by director (1,833) (40,472)
Balance carried forward 169,715 28,632

Ms T Young-Jamieson has a loan repayable on demand. Interest is charged on this loan at a rate of 0%. At the end of the year there was an amount of £169,715 (2022 - £28,632) due to the company.