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REGISTERED NUMBER: 06293304 (England and Wales)











Drag2Zero Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






Drag2Zero Limited (Registered number: 06293304)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Drag2Zero Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mrs N Atkins
S Smart





REGISTERED OFFICE: Grange Farm Barn
Helmdon
Brackley
Northamptonshire
NN13 5QF





REGISTERED NUMBER: 06293304 (England and Wales)





ACCOUNTANTS: TC Group
Sterling House
97 Lichfield Street
Tamworth
Staffordshire
B79 7QF

Drag2Zero Limited (Registered number: 06293304)

Balance Sheet
30 November 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 5 108,751 37,958

CURRENT ASSETS
Stocks 6 89,387 49,081
Debtors 7 186,169 160,566
Cash at bank 390,399 545,365
665,955 755,012
CREDITORS
Amounts falling due within one year 8 616,103 640,783
NET CURRENT ASSETS 49,852 114,229
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,603

152,187

PROVISIONS FOR LIABILITIES 5,594 7,021
NET ASSETS 153,009 145,166

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 152,909 145,066
SHAREHOLDERS' FUNDS 153,009 145,166

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 August 2025 and were signed on its behalf by:





Mrs N Atkins - Director


Drag2Zero Limited (Registered number: 06293304)

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


1. STATUTORY INFORMATION

Drag2Zero 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgement, estimates and assumptions about carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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 where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on reducing balance
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Debtors

Short-term debtors are measured at transaction price, less any impairment.

Creditors

Short-term creditors are measured at the transaction price.

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.


Drag2Zero Limited (Registered number: 06293304)

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


3. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2023 29,465 69,661 24,205 30,549 153,880
Additions - 643 4,487 95,895 101,025
At 30 November 2024 29,465 70,304 28,692 126,444 254,905
DEPRECIATION
At 1 December 2023 15,428 56,559 16,444 27,491 115,922
Charge for year 1,404 2,062 2,027 24,739 30,232
At 30 November 2024 16,832 58,621 18,471 52,230 146,154
NET BOOK VALUE
At 30 November 2024 12,633 11,683 10,221 74,214 108,751
At 30 November 2023 14,037 13,102 7,761 3,058 37,958

6. STOCKS
2024 2023
£    £   
Stocks 89,387 49,081

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,673 2,876
Directors' current accounts 116,959 119,827
Tax 29,607 29,607
VAT - 2,560
Prepayments and accrued income 2,930 5,696
186,169 160,566

Drag2Zero Limited (Registered number: 06293304)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 13,053 89,332
Amounts owed to group undertakings 551,000 548,000
Tax 47,959 -
Social security and other taxes 1,151 528
VAT 5 -
Other creditors 139 127
Accrued expenses 2,796 2,796
616,103 640,783

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 10,286 10,286

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
S Smart
Balance outstanding at start of year 59,914 73,077
Amounts advanced 326 63,582
Amounts repaid - (76,745 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,240 59,914

Mrs N Atkins
Balance outstanding at start of year 59,914 73,077
Amounts advanced 326 63,582
Amounts repaid - (76,745 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,240 59,914

12. RELATED PARTY DISCLOSURES

The company is wholly owned by Arnsiton Holdings Limited, a company in which the directors hold a controlling shareholding. At the year end the company owed Arnsiton Holdings Limited £551,000 (2023:£548,000).