2023-10-012024-09-302024-09-30false11593527THE DRAFT WRITERS 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THE DRAFT WRITERS LTD

Registered Number
11593527
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

THE DRAFT WRITERS LTD
Company Information
for the year from 1 October 2023 to 30 September 2024

Director

Philip James Collins

Registered Address

Unit 427 Metal Box Factory Business Centre
30 Great Guildford Street
London
SE1 0HS

Registered Number

11593527 (England and Wales)
THE DRAFT WRITERS LTD
Balance Sheet as at
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,1911,320
1,1911,320
Current assets
Debtors4167,480155,894
Cash at bank and on hand402,137711,829
569,617867,723
Creditors amounts falling due within one year5(200,232)(257,935)
Net current assets (liabilities)369,385609,788
Total assets less current liabilities370,576611,108
Net assets370,576611,108
Capital and reserves
Called up share capital100100
Profit and loss account370,476611,008
Shareholders' funds370,576611,108
The financial statements were approved and authorised for issue by the Director on 26 November 2024, and are signed on its behalf by:
Philip James Collins
Director
Registered Company No. 11593527
THE DRAFT WRITERS LTD
Notes to the Financial Statements
for the year ended 30 September 2024

1.Accounting policies
Statutory information
The Draft Writers Limited is a private company limited by shares incorporated in England within the United Kingdom. The registration number and the address of the registered office is given in the company information on page 1 of these financial statements. The company's principle place of business is the same as registered address.
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. The financial statements cover the individual entity, are presented in sterling which is the functional currency of the company and are rounded to the nearest round.
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 1A (this is the company's first time adoption and there is no transition adjustment to report), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The significant accounting policies applied in the preparation of these financial statements are set out below.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
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)
Fixtures and fittings5
Office Equipment3
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year77
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 October 2310,79610,796
Additions1,3091,309
At 30 September 2412,10512,105
Depreciation and impairment
At 01 October 239,4769,476
Charge for year1,4381,438
At 30 September 2410,91410,914
Net book value
At 30 September 241,1911,191
At 30 September 231,3201,320
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables152,015105,716
Other debtors8,6188,618
Prepayments and accrued income6,84741,560
Total167,480155,894
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security189,439214,829
Other creditors1,68441,018
Accrued liabilities and deferred income9,1092,088
Total200,232257,935
6.Controlling party
Mr Philip James Collins is the ultimate controlling party.