Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 11526209 Miss C Crabtree Mr R Drake iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11526209 2023-03-31 11526209 2024-03-31 11526209 2023-04-01 2024-03-31 11526209 frs-core:CurrentFinancialInstruments 2024-03-31 11526209 frs-core:Non-currentFinancialInstruments 2024-03-31 11526209 frs-core:PlantMachinery 2024-03-31 11526209 frs-core:PlantMachinery 2023-04-01 2024-03-31 11526209 frs-core:PlantMachinery 2023-03-31 11526209 frs-core:ShareCapital 2024-03-31 11526209 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 11526209 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11526209 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 11526209 frs-bus:SmallEntities 2023-04-01 2024-03-31 11526209 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11526209 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11526209 frs-bus:Director1 2023-04-01 2024-03-31 11526209 frs-bus:Director2 2023-04-01 2024-03-31 11526209 frs-countries:EnglandWales 2023-04-01 2024-03-31 11526209 2022-03-31 11526209 2023-03-31 11526209 2022-04-01 2023-03-31 11526209 frs-core:CurrentFinancialInstruments 2023-03-31 11526209 frs-core:Non-currentFinancialInstruments 2023-03-31 11526209 frs-core:ShareCapital 2023-03-31 11526209 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 11526209
Richard Drake Contracting Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 11526209
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 783,797 587,036
783,797 587,036
CURRENT ASSETS
Debtors 5 231,202 326,019
Cash at bank and in hand 485,911 287,952
717,113 613,971
Creditors: Amounts Falling Due Within One Year 6 (700,640 ) (618,244 )
NET CURRENT ASSETS (LIABILITIES) 16,473 (4,273 )
TOTAL ASSETS LESS CURRENT LIABILITIES 800,270 582,763
Creditors: Amounts Falling Due After More Than One Year 7 (12,408 ) (22,355 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (195,949 ) (111,537 )
NET ASSETS 591,913 448,871
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 591,813 448,771
SHAREHOLDERS' FUNDS 591,913 448,871
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For the year ending 31 March 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 Income Statement.
On behalf of the board
Miss C Crabtree
Director
25/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Richard Drake Contracting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11526209 . The registered office is 7 Smithy Fold, Kildwick, Keighley, West Yorkshire, BD20 9BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of Value Added Tax.
Turnover is invoiced and recognised on completion of the work undertaken.
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:
Plant & Machinery 10% straight line
2.4. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
2.5. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.
Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.6. Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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2.7. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 April 2023 820,838
Additions 369,757
Disposals (144,715 )
As at 31 March 2024 1,045,880
Depreciation
As at 1 April 2023 233,802
Provided during the period 96,487
Disposals (68,206 )
As at 31 March 2024 262,083
Net Book Value
As at 31 March 2024 783,797
As at 1 April 2023 587,036
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 213,707 269,560
Prepayments and accrued income - 41,975
Other debtors 17,495 14,484
231,202 326,019
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 155,135 56,895
Bank loans and overdrafts 10,000 10,000
Corporation tax 26,876 40,112
VAT 4,496 48,243
Other creditors 20,416 2,246
Accruals and deferred income 2,000 2,000
Directors' loan accounts 481,717 458,748
700,640 618,244
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 12,408 22,355
8. Related Party Transactions
During the year, dividends of £58,000 (2023 - £60,000) were paid to the directors.
Included in creditors: amounts falling due within one year, is a balance of £481,717 (2023 - £458,748) owing to the directors.
The balance is interest free and repayable on demand.
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