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REGISTERED NUMBER: 13348914 (England and Wales)








UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

DREX INDUSTRIES LTD

DREX INDUSTRIES LTD (REGISTERED NUMBER: 13348914)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


DREX INDUSTRIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 April 2024







DIRECTOR: Mrs S N Sarraf





REGISTERED OFFICE: Flat 24 Lord Kensington House
5 Radnor Terrace
London
W14 8BU





REGISTERED NUMBER: 13348914 (England and Wales)





ACCOUNTANTS: Mitchell Glanville Limited
41 Rodney Road
Cheltenham
Gloucestershire
GL50 1HX

DREX INDUSTRIES LTD (REGISTERED NUMBER: 13348914)

BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 261 446

CURRENT ASSETS
Debtors 5 11,068 2,200
Cash at bank 1,160 154,519
12,228 156,719
CREDITORS
Amounts falling due within one year 6 3,753 130,504
NET CURRENT ASSETS 8,475 26,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,736

26,661

PROVISIONS FOR LIABILITIES 66 112
NET ASSETS 8,670 26,549

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8,570 26,449
SHAREHOLDERS' FUNDS 8,670 26,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

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 28 January 2025 and were signed by:





Mrs S N Sarraf - Director


DREX INDUSTRIES LTD (REGISTERED NUMBER: 13348914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2024

1. STATUTORY INFORMATION

Drex Industries 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.

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.

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.
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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023
and 30 April 2024 553
DEPRECIATION
At 1 May 2023 107
Charge for year 185
At 30 April 2024 292
NET BOOK VALUE
At 30 April 2024 261
At 30 April 2023 446

DREX INDUSTRIES LTD (REGISTERED NUMBER: 13348914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,950 2,200
Prepayments 8,118 -
11,068 2,200

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 180 -
Tax - 8,338
Other creditors - 121,209
Directors' loan accounts 3,073 457
Accrued expenses 500 500
3,753 130,504

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
Mrs S N Sarraf
Balance outstanding at start of year (457 ) (3,333 )
Amounts advanced 384 2,876
Amounts repaid (3,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,073 ) (457 )

The directors loan is repayable on demand and bears no interest.

8. RELATED PARTY DISCLOSURES

Other creditors amount of £Nil (2023: £121,209) relates to monies owed to GEPCO, a company operated by the directors family member. All transactions are at arms length.