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REGISTERED NUMBER: 10599375 (England and Wales)














Financial Statements for the Year Ended 28 February 2024

for

Drawing Out Potential Ltd

Drawing Out Potential Ltd (Registered number: 10599375)






Contents of the Financial Statements
for the Year Ended 28 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drawing Out Potential Ltd

Company Information
for the Year Ended 28 February 2024







DIRECTOR: Ms G A Biggs





REGISTERED OFFICE: 1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP





REGISTERED NUMBER: 10599375 (England and Wales)





ACCOUNTANTS: Farrell & Co
1C Amberside
Wood Lane
Hemel Hempstead
Hertfordshire
HP2 4TP

Drawing Out Potential Ltd (Registered number: 10599375)

Balance Sheet
28 February 2024

28.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 658 877

CURRENT ASSETS
Debtors 6 4,146 1,394
Cash at bank 65,256 42,099
69,402 43,493
CREDITORS
Amounts falling due within one year 7 38,450 30,021
NET CURRENT ASSETS 30,952 13,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,610

14,349

PROVISIONS FOR LIABILITIES 125 167
NET ASSETS 31,485 14,182

CAPITAL AND RESERVES
Called up share capital 8 1 1
Retained earnings 9 31,484 14,181
SHAREHOLDERS' FUNDS 31,485 14,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Drawing Out Potential Ltd (Registered number: 10599375)

Balance Sheet - continued
28 February 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 director and authorised for issue on 15 November 2024 and were signed by:





Ms G A Biggs - Director


Drawing Out Potential Ltd (Registered number: 10599375)

Notes to the Financial Statements
for the Year Ended 28 February 2024

1. STATUTORY INFORMATION

Drawing Out Potential Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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
Computer equipment - 33% on cost

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Drawing Out Potential Ltd (Registered number: 10599375)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 March 2023
and 28 February 2024 1,170 613 1,783
DEPRECIATION
At 1 March 2023 293 613 906
Charge for year 219 - 219
At 28 February 2024 512 613 1,125
NET BOOK VALUE
At 28 February 2024 658 - 658
At 28 February 2023 877 - 877

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Trade debtors 4,146 1,394

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.24 28.2.23
£    £   
Taxation and social security 3,840 277
Other creditors 34,610 29,744
38,450 30,021

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.24 28.2.23
value: £    £   
1 Ordinary £1 1 1

Drawing Out Potential Ltd (Registered number: 10599375)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2024

9. RESERVES
Retained
earnings
£   

At 1 March 2023 14,181
Profit for the year 18,303
Dividends (1,000 )
At 28 February 2024 31,484