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Company Registration No. 03775742 (England and Wales)
Drake Lane Associates Ltd. Unaudited accounts for the year ended 31 May 2024
Drake Lane Associates Ltd. Unaudited accounts Contents
Page
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Drake Lane Associates Ltd. Company Information for the year ended 31 May 2024
Director
J Watson
Company Number
03775742 (England and Wales)
Registered Office
THE NORTH BARN THE HOME PARK BROUGHTON HALL BUSINESS PARK SKIPTON NORTH YORKS BD23 3AE
Accountants
Pearson & Associates Suite E, Canal Wharf Eshton Road Gargrave, Skipton North Yorkshire BD23 3SE
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Drake Lane Associates Ltd. Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
56,934 
21,229 
Current assets
Debtors
305,264 
278,415 
Cash at bank and in hand
683,753 
620,494 
989,017 
898,909 
Creditors: amounts falling due within one year
(171,457)
(82,685)
Net current assets
817,560 
816,224 
Net assets
874,494 
837,453 
Capital and reserves
Called up share capital
500 
500 
Share premium
1,500 
1,500 
Profit and loss account
872,494 
835,453 
Shareholders' funds
874,494 
837,453 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 October 2024 and were signed on its behalf by
J Watson Director Company Registration No. 03775742
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Drake Lane Associates Ltd. Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Drake Lane Associates Ltd. is a private company, limited by shares, registered in England and Wales, registration number 03775742. The registered office is THE NORTH BARN THE HOME PARK, BROUGHTON HALL BUSINESS PARK, SKIPTON, NORTH YORKS, BD23 3AE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Fixtures & fittings
25% on reducing balance
Computer equipment
25% on cost
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
1,454 
21,889 
39,582 
62,925 
Additions
- 
- 
48,625 
48,625 
At 31 May 2024
1,454 
21,889 
88,207 
111,550 
Depreciation
At 1 June 2023
1,195 
19,287 
21,214 
41,696 
Charge for the year
65 
650 
12,205 
12,920 
At 31 May 2024
1,260 
19,937 
33,419 
54,616 
Net book value
At 31 May 2024
194 
1,952 
54,788 
56,934 
At 31 May 2023
259 
2,602 
18,368 
21,229 
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Drake Lane Associates Ltd. Notes to the Accounts for the year ended 31 May 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
14,615 
10,436 
Accrued income and prepayments
2,367 
2,795 
Other debtors
288,282 
265,184 
305,264 
278,415 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
11,131 
3,600 
Taxes and social security
155,572 
79,085 
Other creditors
4,754 
- 
171,457 
82,685 
7
Average number of employees
During the year the average number of employees was 11 (2023: 11).
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