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REGISTERED NUMBER: 11778961 (England and Wales)















Unaudited Financial Statements

for the Year Ended 5 April 2025

for

Drive Procurement Limited

Drive Procurement Limited (Registered number: 11778961)






Contents of the Financial Statements
for the Year Ended 5 April 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drive Procurement Limited

Company Information
for the Year Ended 5 April 2025







DIRECTOR: Mr S M Bardsley





SECRETARY: Mrs E A Bardsley





REGISTERED OFFICE: East Meats
White Knowle
Chinley
Derbyshire
SK23 6EA





REGISTERED NUMBER: 11778961 (England and Wales)





ACCOUNTANTS: J Davenport & Co. Ltd
Chartered Accountants
East Meats
White Knowle
Chinley
Derbyshire
SK23 6EA

Drive Procurement Limited (Registered number: 11778961)

Balance Sheet
5 April 2025

5.4.25 5.4.24
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 247 490

CURRENT ASSETS
Debtors 5 16,976 15,838
Cash at bank 22,664 16,069
39,640 31,907
CREDITORS
Amounts falling due within one year 6 31,755 29,217
NET CURRENT ASSETS 7,885 2,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,132

3,180

CREDITORS
Amounts falling due after more than one
year

7

(433

)

(3,033

)

PROVISIONS FOR LIABILITIES (137 ) (137 )
NET ASSETS 7,562 10

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 7,552 -
SHAREHOLDERS' FUNDS 7,562 10

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 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.

Drive Procurement Limited (Registered number: 11778961)

Balance Sheet - continued
5 April 2025


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 2 June 2025 and were signed by:





Mr S M Bardsley - Director


Drive Procurement Limited (Registered number: 11778961)

Notes to the Financial Statements
for the Year Ended 5 April 2025

1. STATUTORY INFORMATION

Drive Procurement 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover
Revenue is recognised on the provision of services to clients. Turnover represents the value, net of value added tax and discounts, of services provided to clients.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Financial instruments
Financial instruments are classified, and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences residual interest in the assets of the company after deducting all of its liabilities.

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.

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 1 (2024 - 1 ) .

Drive Procurement Limited (Registered number: 11778961)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 6 April 2024
and 5 April 2025 168 1,265 1,433
DEPRECIATION
At 6 April 2024 80 863 943
Charge for year 24 219 243
At 5 April 2025 104 1,082 1,186
NET BOOK VALUE
At 5 April 2025 64 183 247
At 5 April 2024 88 402 490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.25 5.4.24
£    £   
Trade debtors 16,917 15,788
Prepayments 59 50
16,976 15,838

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5.4.25 5.4.24
£    £   
Bank loans and overdrafts 2,600 2,600
Trade creditors 2,012 -
Tax 17,810 14,650
Social security and other taxes 121 118
VAT 7,629 6,470
Directors' current accounts - 3,889
Accrued expenses 1,583 1,490
31,755 29,217

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
5.4.25 5.4.24
£    £   
Bank loans - 1-2 years 433 2,600
Bank loans - 2-5 years - 433
433 3,033

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £55,000 (2024 - £55,889) were paid to the director .

Drive Procurement Limited (Registered number: 11778961)

Notes to the Financial Statements - continued
for the Year Ended 5 April 2025

8. RELATED PARTY DISCLOSURES - continued

During the year the director charged the company £816 (2024 £834) for the provision of office facilities.
At 5 April 2025 the company owed £Nil (2024 £3,889) to the director. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.