Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-312023-06-01falseReal estate and property management33falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04751749 2023-06-01 2024-05-31 04751749 2022-06-01 2023-05-31 04751749 2024-05-31 04751749 2023-05-31 04751749 c:Director1 2023-06-01 2024-05-31 04751749 d:MotorVehicles 2023-06-01 2024-05-31 04751749 d:MotorVehicles 2024-05-31 04751749 d:MotorVehicles 2023-05-31 04751749 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04751749 d:FurnitureFittings 2023-06-01 2024-05-31 04751749 d:FurnitureFittings 2024-05-31 04751749 d:FurnitureFittings 2023-05-31 04751749 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04751749 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 04751749 d:Goodwill 2024-05-31 04751749 d:Goodwill 2023-05-31 04751749 d:CurrentFinancialInstruments 2024-05-31 04751749 d:CurrentFinancialInstruments 2023-05-31 04751749 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 04751749 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04751749 d:ShareCapital 2024-05-31 04751749 d:ShareCapital 2023-05-31 04751749 d:RetainedEarningsAccumulatedLosses 2024-05-31 04751749 d:RetainedEarningsAccumulatedLosses 2023-05-31 04751749 c:FRS102 2023-06-01 2024-05-31 04751749 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04751749 c:FullAccounts 2023-06-01 2024-05-31 04751749 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04751749 2 2023-06-01 2024-05-31 04751749 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 04751749









DRUCE & PARTNERS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
DRUCE & PARTNERS LIMITED
REGISTERED NUMBER: 04751749

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 6 
781
1,021

  
781
1,021

Current assets
  

Debtors: amounts falling due within one year
 7 
24,237
155,936

  
24,237
155,936

Creditors: amounts falling due within one year
 8 
(148,371)
(174,293)

Net current liabilities
  
 
 
(124,134)
 
 
(18,357)

Total assets less current liabilities
  
(123,353)
(17,336)

  

Net liabilities
  
(123,353)
(17,336)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(123,453)
(17,436)

  
(123,353)
(17,336)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D C M Druce
Director
Page 1

 
DRUCE & PARTNERS LIMITED
REGISTERED NUMBER: 04751749
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024


Date: 17 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Druce & Partners Limited is a company/partnership limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company is dependent on the continuing support of the director to meet its working capital requirements. The financial statements have been prepared on a going concern basis as the Director has indicated his support for the company will continue for the foreseeable future.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing Balance
Fixtures and fittings
-
20%
Reducing Balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates. In the accounts amounts recoverable on long term contracts is carried at unbilled time based on charge out rates less a provision where the members believe such time will not be recoverable.

Page 5

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Employees

2024
2023
£
£

Wages and salaries
76,212
55,623

Social security costs
1,144
1,641

Cost of defined contribution scheme
1,505
634

78,861
57,898


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


5.


Intangible assets




Goodwill

£



Cost


At 1 June 2023
450,000



At 31 May 2024

450,000



Amortisation


At 1 June 2023
450,000



At 31 May 2024

450,000



Net book value



At 31 May 2024
-



At 31 May 2023
-



Page 6

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 June 2023
25,075
16,903
41,978



At 31 May 2024

25,075
16,903
41,978



Depreciation


At 1 June 2023
24,369
16,588
40,957


Charge for the year on owned assets
63
177
240



At 31 May 2024

24,432
16,765
41,197



Net book value



At 31 May 2024
643
138
781



At 31 May 2023
706
315
1,021


7.


Debtors

2024
2023
£
£


Other debtors
24,237
155,936

24,237
155,936


Page 7

 
DRUCE & PARTNERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
35,331
33,696

Corporation tax
19,141
52,096

Other taxation and social security
1,985
3,057

Other creditors
90,114
82,944

Accruals and deferred income
1,800
2,500

148,371
174,293



9.


Financial instruments






10.


Related party transactions

Included within other creditors is an amount due to a director of £35,015 (2023: Debtor £130,985). No interest is being charged on this amount and it is repayable upon demand. 

 
Page 8