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Registered Number: 11001571
England and Wales

 

 

 

DRAKE AND SHEK LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 November 2023

End date: 31 October 2024

Drake and Shek Ltd
Contents Page
For the year ended 31 October 2024
Directors R Drake
R Shek
Registered Number 11001571
Registered Office 21 Bedford Road
London
London
E17 4PX
Accountants Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
RM14 2AP
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 October 2024
Principal activities
The company's principal activity during the year was property management.
Directors
The directors who served the company throughout the year were as follows:
R Drake
R Shek
Statement of directors' responsibilities
The directors are responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

This report was approved by the board and signed on its behalf by:


----------------------------------
R Drake
Director

Date approved: 19 September 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Versa Tax Solutions Ltd
31 October 2024



....................................................

Versa Tax Solutions Ltd
9 Corbets Tey Road
Upminster
RM14 2AP
19 September 2025
3
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 1,200,000    1,200,000 
1,200,000    1,200,000 
Current assets      
Debtors 4 457    457 
Cash at bank and in hand 289    1,311 
746    1,768 
Creditors: amount falling due within one year 5 (471,315)   (437,094)
Net current assets (470,569)   (435,326)
 
Total assets less current liabilities 729,431    764,674 
Creditors: amount falling due after more than one year 6 (760,352)   (768,212)
Net assets (30,921)   (3,538)
 

Capital and reserves 		     
Called up share capital 7 100    100 
Profit and loss account (31,021)   (3,638)
Shareholders' funds (30,921)   (3,538)
 


For the year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 19 September 2025 and were signed on its behalf by:


-------------------------------
R Drake
Director
4
General Information
Drake and Shek Ltd is a private company, limited by shares, registered in England and Wales, registration number 11001571, registration address 21 Bedford Road, London, London, E17 4PX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings 0% Reducing Balance
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Total
  £   £
At 01 November 2023 1,200,000    1,200,000 
Additions -    - 
Disposals -    - 
At 31 October 2024 1,200,000    1,200,000 
Depreciation
At 01 November 2023 -    - 
Charge for year -    - 
On disposals -    - 
At 31 October 2024 -    - 
Net book values
Closing balance as at 31 October 2024 1,200,000    1,200,000 
Opening balance as at 01 November 2023 1,200,000    1,200,000 


4.

Debtors: amounts falling due within one year

2024
£		   2023
£
Other Debtors 457    457 
457    457 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Accrued Expenses 1,500    1,500 
Other Creditors 17,895    17,894 
Directors' Current Accounts 217,870    200,850 
Director current account less than 1 year- Shek Mr. R 234,050    216,850 
471,315    437,094 

6.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Bank Loans & Overdrafts (secured) 760,352    768,212 
760,352    768,212 

7.

Share Capital

Allotted, called up and fully paid
2024
£		   2023
£
100 Class A shares of £1.00 each 100    100 
100    100 

5