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REGISTERED NUMBER: 05693673 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

DRAPER CONSTRUCTION LIMITED

DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DRAPER CONSTRUCTION LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr M Draper
Mrs L Draper





REGISTERED OFFICE: 198 Upper Shoreham Road
Shoreham-by Sea
West Sussex
BN43 6BG





REGISTERED NUMBER: 05693673 (England and Wales)





ACCOUNTANTS: MMP Accounting Solutions Ltd
Suite A, Kings House
68 Victoria Road
Burgess Hill
West Sussex
RH15 9LH

DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 10,438 12,955
10,438 12,955

CURRENT ASSETS
Stocks 5,460 5,845
Debtors 7 60,025 77,624
Cash at bank 31,521 -
97,006 83,469
CREDITORS
Amounts falling due within one year 8 96,626 82,180
NET CURRENT ASSETS 380 1,289
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,818

14,244

CREDITORS
Amounts falling due after more than
one year

9

(10,735

)

(21,308

)

PROVISIONS FOR LIABILITIES - (656 )
NET ASSETS/(LIABILITIES) 83 (7,720 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Retained earnings 73 (7,730 )
SHAREHOLDERS' FUNDS 83 (7,720 )

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.

DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Statement of Financial Position - 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 23 October 2024 and were signed on its behalf by:





Mr M Draper - Director


DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Draper Construction 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. 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 and 15% on reducing balance
Fixtures and fittings - 25% on reducing balance and 15% on reducing balance
Motor vehicles - 25% on reducing balance and 15% on reducing balance
Office equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.


DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 85,307
Additions 1,044
Disposals (9,000 )
At 31 March 2024 77,351
DEPRECIATION
At 1 April 2023 72,352
Charge for year 2,075
Eliminated on disposal (7,514 )
At 31 March 2024 66,913
NET BOOK VALUE
At 31 March 2024 10,438
At 31 March 2023 12,955

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 1,514 351
Other debtors 3,708 3,708
Directors' current accounts 54,803 73,565
60,025 77,624

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,557 14,098
Trade creditors 15,896 19,483
Tax 12,875 7,727
Social security and other taxes 3,491 4,082
CIS Tax deducted 2,802 3,475
VAT 20,851 11,238
Other creditors 763 -
Wages Control 9,687 1,728
Card Control 19,704 20,349
96,626 82,180

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,735 10,565
Bank loans - 2-5 years - 10,743
10,735 21,308

DRAPER CONSTRUCTION LIMITED (REGISTERED NUMBER: 05693673)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
9 Ordinary A £1 9 9
1 Ordinary B £1 1 1
10 10

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
Mr M Draper
Balance outstanding at start of year - 28,977
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

No interest was charged on this balance and was repaid within 9 months of the year end.

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Draper.