IRIS Accounts Production v24.3.2.46 08620462 Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086204622023-07-31086204622024-07-31086204622023-08-012024-07-31086204622022-07-31086204622022-08-012023-07-31086204622023-07-3108620462ns15:EnglandWales2023-08-012024-07-3108620462ns14:PoundSterling2023-08-012024-07-3108620462ns10:Director12023-08-012024-07-3108620462ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3108620462ns10:SmallEntities2023-08-012024-07-3108620462ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3108620462ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3108620462ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3108620462ns10:FullAccounts2023-08-012024-07-3108620462ns10:Director22023-08-012024-07-3108620462ns10:Director32023-08-012024-07-3108620462ns10:RegisteredOffice2023-08-012024-07-3108620462ns5:CurrentFinancialInstruments2024-07-3108620462ns5:CurrentFinancialInstruments2023-07-3108620462ns5:Non-currentFinancialInstruments2024-07-3108620462ns5:Non-currentFinancialInstruments2023-07-3108620462ns5:ShareCapital2024-07-3108620462ns5:ShareCapital2023-07-3108620462ns5:RetainedEarningsAccumulatedLosses2024-07-3108620462ns5:RetainedEarningsAccumulatedLosses2023-07-3108620462ns5:PlantMachinery2023-07-3108620462ns5:PlantMachinery2023-08-012024-07-3108620462ns5:PlantMachinery2024-07-3108620462ns5:PlantMachinery2023-07-3108620462ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3108620462ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 08620462 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

DRAKE & CO LTD

DRAKE & CO LTD (REGISTERED NUMBER: 08620462)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRAKE & CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Clive Drake
Marie Drake
Matthew Drake





REGISTERED OFFICE: C/o Defries Weiss
1 Bridge Lane
London
NW11 0EA





REGISTERED NUMBER: 08620462 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

DRAKE & CO LTD (REGISTERED NUMBER: 08620462)

BALANCE SHEET
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,529 1,829

CURRENT ASSETS
Debtors 5 8,834 130,213
Cash at bank 3,445 -
12,279 130,213
CREDITORS
Amounts falling due within one year 6 144,164 138,073
NET CURRENT LIABILITIES (131,885 ) (7,860 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(129,356

)

(6,031

)

CREDITORS
Amounts falling due after more than one
year

7

(6,096

)

(16,002

)

PROVISIONS FOR LIABILITIES (632 ) (457 )
NET LIABILITIES (136,084 ) (22,490 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (136,184 ) (22,590 )
SHAREHOLDERS' FUNDS (136,084 ) (22,490 )

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

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

DRAKE & CO LTD (REGISTERED NUMBER: 08620462)

BALANCE SHEET - continued
31 JULY 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 14 February 2025 and were signed on its behalf by:





Clive Drake - Director


DRAKE & CO LTD (REGISTERED NUMBER: 08620462)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Drake & Co Ltd is a private company, limited by shares, registered in England and Wales. The company's 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 the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment20% on reducing balance
Plant and machinery20% on reducing balance

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets and liabilities classified as receivable or payable within one year are not amortised.

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.

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 4 (2023 - 4 ) .

DRAKE & CO LTD (REGISTERED NUMBER: 08620462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 12,426
Additions 1,332
At 31 July 2024 13,758
DEPRECIATION
At 1 August 2023 10,597
Charge for year 632
At 31 July 2024 11,229
NET BOOK VALUE
At 31 July 2024 2,529
At 31 July 2023 1,829

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors - 124,346
Sundry debtors 8,834 5,867
8,834 130,213

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Bank loans and overdrafts 9,144 34,037
Trade creditors 322 252
Taxation and social security 11,897 23,485
Sundry creditors 122,801 80,299
144,164 138,073

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Bank loans 6,096 16,002

8. FINANCIAL COMMITMENTS

At the balance sheet date the company was committed to payments totalling £2,280 (2023: £1,854) for hire of equipment under a leases expiring on 23 February 2025 and 6 October 2025 of which £1,368 (2023: £1,171) was due within one year.


DRAKE & CO LTD (REGISTERED NUMBER: 08620462)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

9. GOING CONCERN

The financial statements have been prepared on a going concern basis, which is dependant on the continued support of its director, Clive Drake. As Mr Drake does not intend to withdraw his support in the foreseeable future, the going concern is reasonable.