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Registered number: 13882095
Dragon Clan Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Overpaidtax Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13882095
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 15,964 17,036
15,964 17,036
CURRENT ASSETS
Stocks 5 4,500 6,500
Cash at bank and in hand 3,702 5,993
8,202 12,493
Creditors: Amounts Falling Due Within One Year 6 (25,706 ) (28,279 )
NET CURRENT ASSETS (LIABILITIES) (17,504 ) (15,786 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,540 ) 1,250
NET (LIABILITIES)/ASSETS (1,540 ) 1,250
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account (1,542 ) 1,248
SHAREHOLDERS' FUNDS (1,540) 1,250
Page 1
Page 2
For the year ending 31 January 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs C Brazier
Director
20/10/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Dragon Clan Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13882095 . The registered office is 33 Hyde Road, Paignton, TQ4 5BP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 3%
Plant & Machinery 20%
Motor Vehicles 20%
Fixtures & Fittings 20%
Computer Equipment 20%
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 3)
6 3
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 15,000 2,107 1,000 18,107
As at 31 January 2024 15,000 2,107 1,000 18,107
...CONTINUED
Page 3
Page 4
Depreciation
As at 1 February 2023 450 421 200 1,071
Provided during the period 450 422 200 1,072
As at 31 January 2024 900 843 400 2,143
Net Book Value
As at 31 January 2024 14,100 1,264 600 15,964
As at 1 February 2023 14,550 1,686 800 17,036
5. Stocks
2024 2023
£ £
Stock 4,500 6,500
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors - 1
VAT 5,946 5,718
Directors' loan accounts 19,760 22,560
25,706 28,279
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 4