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REGISTERED NUMBER: 09291289 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

J & J DRAKE LIMITED

J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)






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


J & J DRAKE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Drake
L C Gifford





REGISTERED OFFICE: 115c Milton Road
Cambridge
CB4 1XE





REGISTERED NUMBER: 09291289 (England and Wales)





ACCOUNTANTS: Prentis & Co LLP
Chartered Accountants
115c Milton Road
Cambridge
CB4 1XE

J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 7,530 7,530
Tangible assets 5 619,183 581,787
Investments 6 200 -
Investment property 7 290,741 -
917,654 589,317

CURRENT ASSETS
Debtors 8 314,124 152,742
Cash at bank 43,407 267,662
357,531 420,404
CREDITORS
Amounts falling due within one year 9 125,687 88,719
NET CURRENT ASSETS 231,844 331,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,149,498

921,002

CREDITORS
Amounts falling due after more than one
year

10

(34,479

)

(36,774

)

PROVISIONS FOR LIABILITIES (60,706 ) (50,974 )
NET ASSETS 1,054,313 833,254

CAPITAL AND RESERVES
Called up share capital 180 180
Retained earnings 1,054,133 833,074
SHAREHOLDERS' FUNDS 1,054,313 833,254

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.

J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:





S Drake - Director


J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

J & J Drake 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Intangible assets
Registration plates are not being amortised as they will not decrease in value.

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 - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 7,530
NET BOOK VALUE
At 31 March 2024 7,530
At 31 March 2023 7,530

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 369,377 54,712 424,911 9,851 858,851
Additions - 29,900 99,485 - 129,385
At 31 March 2024 369,377 84,612 524,396 9,851 988,236
DEPRECIATION
At 1 April 2023 - 27,204 240,979 8,881 277,064
Charge for year - 16,408 75,077 504 91,989
At 31 March 2024 - 43,612 316,056 9,385 369,053
NET BOOK VALUE
At 31 March 2024 369,377 41,000 208,340 466 619,183
At 31 March 2023 369,377 27,508 183,932 970 581,787

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 200
At 31 March 2024 200
NET BOOK VALUE
At 31 March 2024 200

J & J DRAKE LIMITED (REGISTERED NUMBER: 09291289)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 290,741
At 31 March 2024 290,741
NET BOOK VALUE
At 31 March 2024 290,741

Investment property is held at fair value. The directors have reviewed this at the year end and consider the initial purchase price, stamp duty, legal fees and development costs incurred to date represent the fair value of the property as at 31st March 2024.

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 60,966 58,402
Amounts owed by group undertakings 227,163 76,761
Other debtors 25,995 17,579
314,124 152,742

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 38,121 37,402
Trade creditors 3,519 22,955
Taxation and social security 80,255 11,158
Other creditors 3,792 17,204
125,687 88,719

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 34,479 36,774

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £115,353 (2023 - £116,853) were paid to the directors .

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Drake by virtue of his 60% ownership of the issued ordinary share capital.