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Registration number: 14498151

Draft.IT Design Studio Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Period from 22 November 2022 to 30 November 2023

 

Draft.IT Design Studio Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Draft.IT Design Studio Limited

Company Information

Director

Ian Fullarton Herd

Registered office

The Starlings
Kimbolton
Leominster
HR6 0HG

Accountants

RMJ Accountancy Ltd
Chartered Certified Accountants
Coach House
Battle
Brecon
Powys
LD3 9RN

 

Draft.IT Design Studio Limited

(Registration number: 14498151)
Balance Sheet as at 30 November 2023

Note

2023
£

Current assets

 

Cash at bank and in hand

 

129

Creditors: Amounts falling due within one year

4

(200)

Net liabilities

 

(71)

Reserves

 

Retained earnings

(71)

Deficit

 

(71)

For the financial period ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 September 2024
 

.........................................
Ian Fullarton Herd
Director

   
     
 

Draft.IT Design Studio Limited

Notes to the Unaudited Financial Statements for the Period from 22 November 2022 to 30 November 2023

1

General information

The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Starlings
Kimbolton
Leominster
HR6 0HG

These financial statements were authorised for issue by the director on 18 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

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;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Draft.IT Design Studio Limited

Notes to the Unaudited Financial Statements for the Period from 22 November 2022 to 30 November 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Trade creditors

200

5

Share capital

The company has no share capital and is limited by guarantee, The members have agreed to contribute £1 towards liabilities should the company be wound up.

6

Related party transactions

 

Draft.IT Design Studio Limited

Notes to the Unaudited Financial Statements for the Period from 22 November 2022 to 30 November 2023

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

Remuneration

12,067