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DRAXA ENTERPRISES LIMITED

Registered Number
04348629
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

DRAXA ENTERPRISES LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

PALING, Julie Fiona

Company Secretary

PALING, Julie

Registered Address

74b Greenways
Ovingdean
Brighton
BN2 7BL

Registered Number

04348629 (England and Wales)
DRAXA ENTERPRISES LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets41,3011,808
1,3011,808
Current assets
Cash at bank and on hand2,2301,713
2,2301,713
Creditors amounts falling due within one year5(5,571)(5,149)
Net current assets (liabilities)(3,341)(3,436)
Total assets less current liabilities(2,040)(1,628)
Provisions for liabilities6(487)(344)
Accruals and deferred income(358)(359)
Net assets(2,885)(2,331)
Capital and reserves
Called up share capital100100
Profit and loss account(2,985)(2,431)
Shareholders' funds(2,885)(2,331)
The financial statements were approved and authorised for issue by the Board of Directors on 28 October 2024, and are signed on its behalf by:
PALING, Julie Fiona
Director
Registered Company No. 04348629
DRAXA ENTERPRISES LIMITED
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year01
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 February 2321,1594,98826,147
Additions-700700
At 31 January 2421,1595,68826,847
Depreciation and impairment
At 01 February 2319,3514,98824,339
Charge for year9952121,207
At 31 January 2420,3465,20025,546
Net book value
At 31 January 248134881,301
At 31 January 231,808-1,808
5.Creditors: amounts due within one year

2024

2023

££
Other creditors5,5715,149
Total5,5715,149
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)487344
Total487344
7.Controlling party
The company was controlled by its director, J Paling, throughout the period.