2 2 Third Drawer Down Ltd 13544489 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Retail sale via mail order houses or via Internet Digita Accounts Production Advanced 6.30.9574.0 true 13544489 2023-07-01 2024-06-30 13544489 2024-06-30 13544489 core:CurrentFinancialInstruments 2024-06-30 13544489 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 13544489 bus:SmallEntities 2023-07-01 2024-06-30 13544489 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 13544489 bus:AbridgedAccounts 2023-07-01 2024-06-30 13544489 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 13544489 bus:RegisteredOffice 2023-07-01 2024-06-30 13544489 bus:Director1 2023-07-01 2024-06-30 13544489 bus:Director2 2023-07-01 2024-06-30 13544489 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13544489 bus:Agent1 2023-07-01 2024-06-30 13544489 countries:EnglandWales 2023-07-01 2024-06-30 13544489 2022-07-01 2023-06-30 13544489 2023-06-30 13544489 core:CurrentFinancialInstruments 2023-06-30 13544489 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 xbrli:pure iso4217:GBP

Registration number: 13544489

Third Drawer Down Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2024

 

Third Drawer Down Ltd

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Third Drawer Down Ltd

Company Information

Directors

A Crompton

Mr JD Foster

Registered office

10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

Accountants

The Numbersmith Limited 10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT

 

Third Drawer Down Ltd

(Registration number: 13544489)
Abridged Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

5,778

11,041

Debtors

85,358

89,002

Cash at bank and in hand

 

37,246

39,499

 

128,382

139,542

Creditors: Amounts falling due within one year

(82,189)

(104,728)

Net assets

 

46,193

34,814

Capital and reserves

 

Called up share capital

100

100

Retained earnings

46,093

34,714

Shareholders' funds

 

46,193

34,814

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option to not file the profit and loss account has been taken.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 29 April 2025 and signed on its behalf by:
 

.........................................
A Crompton
Director

 

Third Drawer Down Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 Cheyne Walk
Northampton
Northamptonshire
NN1 5PT
United Kingdom

These financial statements were authorised for issue by the Board on 29 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Third Drawer Down Ltd

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

Judgements

In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors' best judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be appropriate.

Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods, if the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Third Drawer Down Ltd

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Stocks

2024
£

2023
£

Other inventories

5,778

11,041