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REGISTERED NUMBER: 04092994 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Dragwood Limited

Dragwood Limited (Registered number: 04092994)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dragwood Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T Crump
Mrs M Crump
Miss Y Crump
N Crump





SECRETARY: Mrs Y Crump





REGISTERED OFFICE: 5 Haydens Place
London
W11 1LY





REGISTERED NUMBER: 04092994 (England and Wales)





ACCOUNTANTS: Chamberlains Chartered Accountants
Elm House, Tanshire Park
Shackleford Road, Elstead
Godalming
Surrey
GU8 6LB

Dragwood Limited (Registered number: 04092994)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 126,171 116,122
Investment property 6 1,655,000 1,655,000
1,781,171 1,771,122

CURRENT ASSETS
Debtors 7 188 188
Cash at bank 156,818 210,062
157,006 210,250
CREDITORS
Amounts falling due within one year 8 11,687 8,626
NET CURRENT ASSETS 145,319 201,624
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,926,490

1,972,746

CREDITORS
Amounts falling due after more than one
year

9

(151,499

)

(229,486

)

PROVISIONS FOR LIABILITIES 10 (208,539 ) (208,539 )
NET ASSETS 1,566,452 1,534,721

CAPITAL AND RESERVES
Called up share capital 11 8 8
Revaluation reserve 12 926,524 916,474
Retained earnings 12 639,920 618,239
SHAREHOLDERS' FUNDS 1,566,452 1,534,721

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Dragwood Limited (Registered number: 04092994)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





N Crump - Director


Dragwood Limited (Registered number: 04092994)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Dragwood Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with FRS 102 Section 1A, as follows:

No depreciation is provided in respect of the investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original costs, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider the systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets, which include debtors and cash balances, are measured at transaction price including transaction costs.

Basic financial liabilities, including creditors are recognised at transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Dragwood Limited (Registered number: 04092994)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

Fixed asset investments
Investments are stated at market value using the bid price at the balance sheet date. The profit and loss account includes the net gains and losses arising on revaluations at the year ended date. All disposals of investments are recognised at their bid price at the date of disposal.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 5,211
DEPRECIATION
At 1 April 2023
and 31 March 2024 5,211
NET BOOK VALUE
At 31 March 2024 -

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2023 116,122
Revaluations 10,049
At 31 March 2024 126,171
NET BOOK VALUE
At 31 March 2024 126,171
At 31 March 2023 116,122

Investments held correspond to a portfolio of investments arranged by Yodelar.

Dragwood Limited (Registered number: 04092994)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 1,655,000
NET BOOK VALUE
At 31 March 2024 1,655,000
At 31 March 2023 1,655,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2011 125,000
Valuation in 2014 100,000
Valuation in 2015 400,000
Valuation in 2016 329,396
Valuation in 2017 221,667
Valuation in 2018 (52,796 )
Valuation in 2019 (172,796 )
Cost 704,529
1,655,000

The directors have considered the market conditions at the company's year end and have decided that no re-valuation is necessary.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 188 188

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Tax 6,024 4,966
Accruals and deferred income 5,663 3,660
11,687 8,626

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Other creditors 151,499 229,486

10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 208,539 208,539

Dragwood Limited (Registered number: 04092994)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 208,539
Balance at 31 March 2024 208,539

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2
6 Ordinary A, B and C (2 issued
of each class) £1 6 6
8 8

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 618,239 916,474 1,534,713
Profit for the year 25,681 - 25,681
Dividends (4,000 ) - (4,000 )
Revaluation in year - 10,050 10,050
At 31 March 2024 639,920 926,524 1,566,444

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mrs M Crump

During the current year and in previous years loans have been made to the company by Mrs M Crump and Mr N Crump (a shareholder), the balances of which are shown within notes 8 and 9. The total balance at the year end was £205,799 (2023: £169,986). It was unsecured and interest free.

Mr T Crump

The company owed Mr Crump £1,250 (2023: £250), on which no interest is payable.

Miss Y Crump

The company owes Miss Crump £27,050 (2023: £59,250), on which no interest is payable.

14. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who own 100% of the called up share capital.