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REGISTERED NUMBER: 06205689 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DRAYSEN LIMITED

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


DRAYSEN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr S D Draper
Mrs V Draper





REGISTERED OFFICE: 505 Pinner Road
Harrow
Middlesex
HA2 6EH





REGISTERED NUMBER: 06205689 (England and Wales)





ACCOUNTANTS: STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
DRAYSEN LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Draysen Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Draysen Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Draysen Limited and state those matters that we have agreed to state to the Board of Directors of Draysen Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Draysen Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Draysen Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Draysen Limited. You consider that Draysen Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Draysen Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






STGCA LLP t/a Sterling
Chartered Accountants
505 Pinner Road
Harrow
Middlesex
HA2 6EH


5 November 2024

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 58,776 4,143
Investment property 5 1,369,166 1,280,000
1,427,942 1,284,143

CURRENT ASSETS
Debtors 6 322,268 550,939
Cash at bank 643,455 427,135
965,723 978,074
CREDITORS
Amounts falling due within one year 7 400,740 414,499
NET CURRENT ASSETS 564,983 563,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,992,925

1,847,718

CREDITORS
Amounts falling due after more than one year 8 (657,516 ) (669,166 )

PROVISIONS FOR LIABILITIES (93,085 ) (47,064 )
NET ASSETS 1,242,324 1,131,488

CAPITAL AND RESERVES
Called up share capital 2 2
Revaluation reserve 10 269,298 231,412
Retained earnings 10 973,024 900,074
1,242,324 1,131,488

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.

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





Mr S D Draper - Director


DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

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


1. STATUTORY INFORMATION

Draysen 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 as modified by the revaluation of certain assets.

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

Turnover is recognised when the company has a right to consideration.

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 reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Income Statement, 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.

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 9 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 900 33,093 7,166 41,159
Additions - 59,315 10,910 70,225
Disposals - (28,213 ) - (28,213 )
At 31 March 2024 900 64,195 18,076 83,171
DEPRECIATION
At 1 April 2023 899 29,290 6,827 37,016
Charge for year - 10,707 1,903 12,610
Eliminated on disposal - (25,231 ) - (25,231 )
At 31 March 2024 899 14,766 8,730 24,395
NET BOOK VALUE
At 31 March 2024 1 49,429 9,346 58,776
At 31 March 2023 1 3,803 339 4,143

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,280,000
Additions 19,166
Revaluations 70,000
At 31 March 2024 1,369,166
NET BOOK VALUE
At 31 March 2024 1,369,166
At 31 March 2023 1,280,000

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

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


5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2018 183,833
Valuation in 2021 50,000
Valuation in 2022 30,000
Valuation in 2023 13,855
Valuation in 2024 70,000
Cost 1,021,478
1,369,166

The investment properties were valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 194,767 402,723
Other debtors 34,342 37,239
Directors' current accounts 89,260 91,158
VAT 3,899 8,622
Prepayments and accrued income - 11,197
322,268 550,939

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 8,405 5,160
Trade creditors 253,502 275,494
Tax 67,850 69,871
Social security and other taxes 4,623 4,022
Other creditors 66,360 58,502
Wages control - 1,450
400,740 414,499

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 8,405 5,160
Bank loans - 2-5 years 443,415 433,680
Bank loans more 5 yr by instal 205,696 230,326
657,516 669,166

DRAYSEN LIMITED (REGISTERED NUMBER: 06205689)

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


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 205,696 230,326

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 665,921 674,326

The bank loans are secured by a fixed charge over the investment properties of the company. The rate of interest is 3.38% per annum above the base rate, and the loans are repayable over twenty seven years.

10. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2023 900,074 231,412 1,131,486
Profit for the year 279,336 279,336
Dividends (168,500 ) (168,500 )
Fair value adjustments (37,886 ) 37,886 -
At 31 March 2024 973,024 269,298 1,242,322

The reserves includes undistributable profit reserve of £269,298 (2023: £231,412) relating to revaluation of
investment properties.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, the company was owed £89,260 (2023: £91,158) by the directors. The company charged interest at 2.25% per annum.

During the year, the company paid dividends of £168,500 (2023: £168,000) to the directors.