IRIS Accounts Production v24.2.0.383 08579716 director 1.7.23 30.6.24 30.6.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh085797162023-06-30085797162024-06-30085797162023-07-012024-06-30085797162022-06-30085797162022-07-012023-06-30085797162023-06-3008579716ns15:EnglandWales2023-07-012024-06-3008579716ns14:PoundSterling2023-07-012024-06-3008579716ns10:Director12023-07-012024-06-3008579716ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3008579716ns10:SmallEntities2023-07-012024-06-3008579716ns10:AuditExempt-NoAccountantsReport2023-07-012024-06-3008579716ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3008579716ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3008579716ns10:FullAccounts2023-07-012024-06-3008579716ns10:OrdinaryShareClass12023-07-012024-06-3008579716ns10:RegisteredOffice2023-07-012024-06-3008579716ns5:CurrentFinancialInstruments2024-06-3008579716ns5:CurrentFinancialInstruments2023-06-3008579716ns5:Non-currentFinancialInstruments2024-06-3008579716ns5:Non-currentFinancialInstruments2023-06-3008579716ns5:ShareCapital2024-06-3008579716ns5:ShareCapital2023-06-3008579716ns5:RetainedEarningsAccumulatedLosses2024-06-3008579716ns5:RetainedEarningsAccumulatedLosses2023-06-3008579716ns5:PlantMachinery2023-07-012024-06-3008579716ns5:ComputerEquipment2023-07-012024-06-3008579716ns5:PlantMachinery2023-06-3008579716ns5:FurnitureFittings2023-06-3008579716ns5:ComputerEquipment2023-06-3008579716ns5:FurnitureFittings2023-07-012024-06-3008579716ns5:PlantMachinery2024-06-3008579716ns5:FurnitureFittings2024-06-3008579716ns5:ComputerEquipment2024-06-3008579716ns5:PlantMachinery2023-06-3008579716ns5:FurnitureFittings2023-06-3008579716ns5:ComputerEquipment2023-06-3008579716ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3008579716ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3008579716ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-06-3008579716ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-06-3008579716ns5:DeferredTaxation2023-06-3008579716ns5:DeferredTaxation2023-07-012024-06-3008579716ns5:DeferredTaxation2024-06-3008579716ns10:OrdinaryShareClass12024-06-3008579716ns5:RetainedEarningsAccumulatedLosses2023-06-3008579716ns5:RetainedEarningsAccumulatedLosses2023-07-012024-06-30085797161ns10:Director12023-06-30085797161ns10:Director12022-06-30085797161ns10:Director12023-07-012024-06-30085797161ns10:Director12022-07-012023-06-30085797161ns10:Director12024-06-30085797161ns10:Director12023-06-30
REGISTERED NUMBER: 08579716 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

DRNC Limited

DRNC Limited (Registered number: 08579716)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


DRNC Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Dr N Chauhan





REGISTERED OFFICE: Flat 9
12 Upper Belgrave Road
Clifton
Bristol
BS8 2XJ





REGISTERED NUMBER: 08579716 (England and Wales)





ACCOUNTANTS: Wormald & Partners
Chartered Accountants (ICAEW)
Brunel House
11 The Promenade
Clifton Down
Bristol
BS8 3NG

DRNC Limited (Registered number: 08579716)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,385 6,431

CURRENT ASSETS
Debtors 5 143,633 50,101
Cash at bank 10,751 31,580
154,384 81,681
CREDITORS
Amounts falling due within one year 6 48,218 40,697
NET CURRENT ASSETS 106,166 40,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

110,551

47,415

CREDITORS
Amounts falling due after more than one year 7 (109,572 ) (45,321 )

PROVISIONS FOR LIABILITIES 8 (781 ) (1,524 )
NET ASSETS 198 570

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 10 197 569
SHAREHOLDERS' FUNDS 198 570

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 7 February 2025 and were signed by:





Dr N Chauhan - Director


DRNC Limited (Registered number: 08579716)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

DRNC 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.

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.
Plant and machinery - 25% on reducing balance basis
Computer equipment - 33.33% on reducing balance basis

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 July 2023
and 30 June 2024 1,500 1,453 9,482 12,435
DEPRECIATION
At 1 July 2023 1,416 363 4,225 6,004
Charge for year 21 273 1,752 2,046
At 30 June 2024 1,437 636 5,977 8,050
NET BOOK VALUE
At 30 June 2024 63 817 3,505 4,385
At 30 June 2023 84 1,090 5,257 6,431

DRNC Limited (Registered number: 08579716)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 17,979
Directors' loan accounts 143,633 32,122
143,633 50,101

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 19,373 4,771
Tax 26,329 33,556
Accrued expenses 2,516 2,370
48,218 40,697

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bounce Back Loan 38,094 45,321
Funding Circle Loan 71,478 -
109,572 45,321

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 781 1,524

Deferred
tax
£   
Balance at 1 July 2023 1,524
Credit to Income Statement during year (743 )
Balance at 30 June 2024 781

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

10. RESERVES
Retained
earnings
£   

At 1 July 2023 569
Profit for the year 3,628
Dividends (4,000 )
At 30 June 2024 197

DRNC Limited (Registered number: 08579716)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Dr N Chauhan
Balance outstanding at start of year 32,122 51,883
Amounts advanced 144,511 190,239
Amounts repaid (33,000 ) (210,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 143,633 32,122

The overdrawn director's loan account in the sum of £143,633 was fully repaid on 07 February 2025, within 9 months of the year end.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £4,000 (2023 - £138,000) were paid to the director .