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REGISTERED NUMBER: 11370457 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

DRUNEEV LIMITED

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRUNEEV LIMITED

Company Information
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: V J K Patel
Mrs S Patel





REGISTERED OFFICE: 63/66 Hatton Garden
Fifth Floor
Suit 23
London
EC1N 8LE





REGISTERED NUMBER: 11370457 (England and Wales)





ACCOUNTANTS: Owadally & King
Chartered Certified Accountants
73 Park Lane
Croydon
Surrey
CR0 1JG

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Balance Sheet
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,873 8,403
Investment property 5 850,000 850,000
852,873 858,403

CURRENT ASSETS
Stocks - 130,590
Debtors 6 71,738 95,106
Cash at bank 52,902 16,963
124,640 242,659
CREDITORS
Amounts falling due within one year 7 10,104 29,977
NET CURRENT ASSETS 114,536 212,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

967,409

1,071,085

CREDITORS
Amounts falling due after more than one
year

8

(612,617

)

(617,961

)

PROVISIONS FOR LIABILITIES (546 ) (2,648 )
NET ASSETS 354,246 450,476

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 9 505,539 505,539
Retained earnings 9 (151,393 ) (55,163 )
354,246 450,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Balance Sheet - continued
31 MAY 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 17 February 2025 and were signed on its behalf by:





V J K Patel - Director


DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MAY 2024


1. STATUTORY INFORMATION

Druneev 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.

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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 27,657
DEPRECIATION
At 1 June 2023 19,254
Charge for year 5,530
At 31 May 2024 24,784
NET BOOK VALUE
At 31 May 2024 2,873
At 31 May 2023 8,403

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 27,303
DEPRECIATION
At 1 June 2023 19,112
Charge for year 5,460
At 31 May 2024 24,572
NET BOOK VALUE
At 31 May 2024 2,731
At 31 May 2023 8,191

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 850,000
NET BOOK VALUE
At 31 May 2024 850,000
At 31 May 2023 850,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2023 505,539
Cost 344,461
850,000

If had not been revalued would have been included at the following historical cost:

2024 2023
£    £   
Cost 344,461 344,461

DRUNEEV LIMITED (REGISTERED NUMBER: 11370457)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MAY 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,007 52,649
Other debtors 64,731 42,457
71,738 95,106

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,425 5,072
Hire purchase contracts - 11,051
Taxation and social security 2,927 12,066
Other creditors 1,752 1,788
10,104 29,977

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 612,617 617,961

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 606,974 606,893

9. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 (55,163 ) 505,539 450,376
Deficit for the year (96,230 ) (96,230 )
At 31 May 2024 (151,393 ) 505,539 354,146

10. ULTIMATE CONTROLLING PARTY

The controlling party is V J K Patel.