BrightAccountsProduction v1.0.0 v1.0.0 2023-11-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of building work and equipment hire. 7 May 2025 0 0 14218716 2024-10-31 14218716 2023-10-31 14218716 2022-10-31 14218716 2023-11-01 2024-10-31 14218716 2022-11-01 2023-10-31 14218716 uk-bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 14218716 uk-curr:PoundSterling 2023-11-01 2024-10-31 14218716 uk-bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 14218716 uk-bus:FullAccounts 2023-11-01 2024-10-31 14218716 uk-core:ShareCapital 2024-10-31 14218716 uk-core:ShareCapital 2023-10-31 14218716 uk-core:RetainedEarningsAccumulatedLosses 2024-10-31 14218716 uk-core:RetainedEarningsAccumulatedLosses 2023-10-31 14218716 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-10-31 14218716 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-10-31 14218716 uk-core:RetainedEarningsAccumulatedLosses 2023-11-01 2024-10-31 14218716 uk-bus:FRS102 2023-11-01 2024-10-31 14218716 uk-core:PlantMachinery 2023-11-01 2024-10-31 14218716 uk-core:CurrentFinancialInstruments 2024-10-31 14218716 uk-core:CurrentFinancialInstruments 2023-10-31 14218716 uk-core:WithinOneYear 2024-10-31 14218716 uk-core:WithinOneYear 2023-10-31 14218716 uk-core:EmployeeBenefits 2023-10-31 14218716 uk-core:EmployeeBenefits 2023-11-01 2024-10-31 14218716 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-10-31 14218716 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-10-31 14218716 uk-core:OtherDeferredTax 2024-10-31 14218716 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-10-31 14218716 uk-core:EmployeeBenefits 2024-10-31 14218716 2023-11-01 2024-10-31 14218716 uk-bus:Director1 2023-11-01 2024-10-31 14218716 uk-bus:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
Company Registration Number: 14218716
 
 
Draglime Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 October 2024



Draglime Limited
Company Registration Number: 14218716
BALANCE SHEET
as at 31 October 2024

2024 2023
Notes £ £
 
Fixed Assets
Tangible assets 5 62,460 77,309
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Current Assets
Stocks 6 1,000 1,000
Debtors 7 90,737 134,758
Cash and cash equivalents 87,472 5,517
───────── ─────────
179,209 141,275
───────── ─────────
Creditors: amounts falling due within one year 8 (212,278) (205,148)
───────── ─────────
Net Current Liabilities (33,069) (63,873)
───────── ─────────
Total Assets less Current Liabilities 29,391 13,436
 
Provisions for liabilities 10 (11,340) (14,046)
───────── ─────────
Net Assets/(Liabilities) 18,051 (610)
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 17,951 (710)
───────── ─────────
Shareholders' Funds/(Deficit) 18,051 (610)
═════════ ═════════
 
The financial statements have been prepared 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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Directors' Report.
           
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 7 May 2025 and signed on its behalf by
           
           
________________________________          
David Munford          
Director          
           



Draglime Limited
RECONCILIATION OF SHAREHOLDERS' FUNDS
as at 31 October 2024

Called up Retained Total
share earnings
capital
£ £ £
 
At 6 July 2022 - - -
───────── ───────── ─────────
Loss for the financial period - (710) (710)
───────── ───────── ─────────
Net proceeds of equity
ordinary share issue 100 - 100
  ───────── ───────── ─────────
At 31 October 2023 100 (710) (610)
  ───────── ───────── ─────────
Profit for the financial year - 18,661 18,661
  ───────── ───────── ─────────
At 31 October 2024 100 17,951 18,051
  ═════════ ═════════ ═════════



Draglime Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 October 2024

   
1. General Information
 
Draglime Limited is a company limited by shares incorporated and registered in England. The registered number of the company is 14218716. The registered office of the company is 64 Eastfields, Narborough, Norfolk, PE32 1ST, United Kingdom. The nature of the company's operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 October 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of work done and goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Plant and machinery - 20% Reducing balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
   
3. Period of financial statements
 
The comparative figures relate to the 15 month period ended 31 October 2023.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was 2, (2023 - 2).
     
5. Tangible assets
  Plant and
  machinery
   
  £
Cost
At 1 November 2023 92,209
Additions 4,158
Disposals (149)
  ─────────
At 31 October 2024 96,218
  ─────────
Depreciation
At 1 November 2023 14,900
Charge for the financial year 18,888
On disposals (30)
  ─────────
At 31 October 2024 33,758
  ─────────
Net book value
At 31 October 2024 62,460
  ═════════
At 31 October 2023 77,309
  ═════════
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 1,000 1,000
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Trade debtors 87,726 131,884
Taxation  (Note 9) 232 783
Prepayments and accrued income 2,779 2,091
  ───────── ─────────
  90,737 134,758
  ═════════ ═════════
 
Trade debtors includes amounts due under contracts not yet billed amounting to £40,059.
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors 18,658 12,477
Amounts owed to connected parties (Note 11) 172,650 172,650
Taxation  (Note 9) 16,330 16,056
Directors' current accounts 1,700 1,165
Accruals 2,940 2,800
  ───────── ─────────
  212,278 205,148
  ═════════ ═════════
       
9. Taxation 2024 2023
  £ £
 
Debtors:
PAYE / NI 232 783
  ═════════ ═════════
Creditors:
VAT 9,248 14,046
Corporation tax 7,082 2,010
  ───────── ─────────
  16,330 16,056
  ═════════ ═════════
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 14,046 14,046 -
Charged to profit and loss (2,706) (2,706) 14,046
  ───────── ───────── ─────────
At financial year end 11,340 11,340 14,046
  ═════════ ═════════ ═════════
           
11. Related party transactions
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
R B M Properties (Narborough) Limited     172,650 172,650
      ═════════ ═════════
   
12. Controlling interest
 
The company is under the control of the director, Mr D T Munford.