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Company Registration No. 06829090 (England and Wales)
DREW LEAR TECHNOLOGY LIMITED Unaudited accounts for the period from 1 March 2023 to 27 August 2024
DREW LEAR TECHNOLOGY LIMITED Unaudited accounts Contents
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DREW LEAR TECHNOLOGY LIMITED Company Information for the period from 1 March 2023 to 27 August 2024
Director
Andrew Philip Falconer
Company Number
06829090 (England and Wales)
Registered Office
UNIT 37 CRESSEX ENTERPRISE CENTRE LINCOLN ROAD HIGH WYCOMBE BUCKINGHAMSHIRE HP12 3RL ENGLAND
Accountants
Insight Business Services Limited 20-22 Wenlock Road London N1 7GU
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DREW LEAR TECHNOLOGY LIMITED Statement of financial position as at 27 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
30,753 
26,108 
Current assets
Inventories
1,500 
1,500 
Debtors
17,064 
36,442 
Cash at bank and in hand
20,502 
75,276 
39,066 
113,218 
Creditors: amounts falling due within one year
(36,987)
(62,608)
Net current assets
2,079 
50,610 
Total assets less current liabilities
32,832 
76,718 
Creditors: amounts falling due after more than one year
(27,338)
(36,094)
Net assets
5,494 
40,624 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
5,394 
40,524 
Shareholders' funds
5,494 
40,624 
For the period ending 27 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2025 and were signed on its behalf by
Andrew Philip Falconer Director Company Registration No. 06829090
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DREW LEAR TECHNOLOGY LIMITED Notes to the Accounts for the period from 1 March 2023 to 27 August 2024
1
Statutory information
DREW LEAR TECHNOLOGY LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06829090. The registered office and principal place of business is UNIT 37 CRESSEX ENTERPRISE CENTRE, LINCOLN ROAD, HIGH WYCOMBE, BUCKINGHAMSHIRE, HP12 3RL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Computer equipment
20% Reducing Balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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DREW LEAR TECHNOLOGY LIMITED Notes to the Accounts for the period from 1 March 2023 to 27 August 2024
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Going concern
The accounts are prepared on a going concern basis.
Included above are assets held under finance leases or hire purchase contracts
The company has taken advantage of FRED67 from calculating the NPV of long term liabilities of the company.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Change in Depreciation Policy
The depreciation policy was changed during the year to reflect a true and fair picture of company assets at the year end date.
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 March 2023
30,988 
14,071 
45,059 
Additions
12,885 
4,940 
17,825 
At 27 August 2024
43,873 
19,011 
62,884 
Depreciation
At 1 March 2023
6,897 
12,054 
18,951 
Charge for the period
11,093 
2,087 
13,180 
At 27 August 2024
17,990 
14,141 
32,131 
Net book value
At 27 August 2024
25,883 
4,870 
30,753 
At 28 February 2023
24,091 
2,017 
26,108 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
5,246 
- 
Trade debtors
3,697 
32,571 
Accrued income and prepayments
8,121 
3,871 
17,064 
36,442 
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DREW LEAR TECHNOLOGY LIMITED Notes to the Accounts for the period from 1 March 2023 to 27 August 2024
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
- 
5,798 
Trade creditors
13,373 
37,608 
Taxes and social security
19,134 
11,201 
Other creditors
4,480 
6,081 
Loans from directors
- 
120 
Accruals
- 
1,800 
36,987 
62,608 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
27,338 
36,094 
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the period the average number of employees was 3 (2023: 3).
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