Registered number
04386173
Draw Holdings Limited
Filleted Accounts
31 January 2024
Draw Holdings Limited
Registered number: 04386173
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 2 - 4,422,000
Current assets
Debtors 3 - 1,702,335
Creditors: amounts falling due within one year 4 - (1,702,335)
Net current assets - -
Net assets - 4,422,000
Capital and reserves
Called up share capital 80,000 80,000
Revaluation reserve 5 3,394,960 3,474,960
Profit and loss account (3,474,960) 867,040
Shareholders' funds - 4,422,000
Number Number
Average number of employees - -
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
W Robertson
Director
Approved by the board on 12 April 2024
Draw Holdings Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Investments
Investments in subsidiaries, associates and joint ventures are measured at fair value based on recent transactions, less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 February 2023 4,422,000
Disposals (4,422,000)
At 31 January 2024 -
During the year ended January 31, 2024, the Company transferred its above investment in its subsidiary Stag Buying Group Limited to its parent company Draw Holdings 2 Limited, at book value with no gain or loss on disposal.
3 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 1,702,335
4 Creditors: amounts falling due within one year 2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 1,702,335
5 Revaluation reserve 2024 2023
£ £
At 1 February 2023 3,474,960 -
(Loss)/gain on revaluation of investment in subsidiary company (80,000) 3,474,960
At 31 January 2024 3,394,960 3,474,960
6 Contingent liabilities
There is a cross guarantee dated 27 August 2019 between the company, and its subsidiary, STAG Buying Group Limited, and its holding company Draw Holdings 2 Limited . At the year end the total borrowings of STAG Buying Group Limited were £667,014 (2023: £1,049,958).
7 Controlling party
The ultimate parent company is Draw Holdings 2 Limited, a company incorporated in the United Kingdom and registered in England and Wales. On the grounds that its group is small, Draw Holdings 2 Limited does not prepare consolidated financial statements. The ultimate holding company's controlling party is Ward Robertson. The registered Office of Draw Holdings 2 Limited is:
1 Bowden Way
Failand
Bristol
BS8 3XA
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