REGISTERED NUMBER: 11834393 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

DRIVE 321 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A R Johnson

Mrs C J Johnson

REGISTERED OFFICE:

Alanod Building

Chippenham Drive

Kingston

Milton Keynes

MK10 0AN

REGISTERED NUMBER:

11834393 (England and Wales)

ACCOUNTANTS:

Digital Tax Matters Limited

27 St Cuthberts Street

Bedford

MK40 3JG

FIXED ASSETS

Tangible assets

4

74,032

70,048

Investments

5

42,456

19,461

116,488

89,509

CURRENT ASSETS

Debtors

6

936

20,643

Cash at bank

435,926

348,704

436,862

369,347

CREDITORS

Amounts falling due within one year

7

110,225

118,655

NET CURRENT ASSETS

326,637

250,692

TOTAL ASSETS LESS CURRENT LIABILITIES

443,125

340,201

PROVISIONS FOR LIABILITIES

5,327

3,071

NET ASSETS

437,798

337,130

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

437,796

337,128

437,798

337,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 6 August 2025 and were signed on its behalf by:

A R Johnson - Director

1.	STATUTORY INFORMATION

Drive 321 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

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 16 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

5,932

84,627

13,744

104,303

Additions

-

26,550

4,485

31,035

Disposals

-

(14,850

)

-

(14,850

)

At 31 March 2025

5,932

96,327

18,229

120,488

DEPRECIATION

At 1 April 2024

2,350

27,655

4,250

34,255

Charge for year

716

18,194

2,177

21,087

Eliminated on disposal

-

(8,886

)

-

(8,886

)

At 31 March 2025

3,066

36,963

6,427

46,456

NET BOOK VALUE

At 31 March 2025

2,866

59,364

11,802

74,032

At 31 March 2024

3,582

56,972

9,494

70,048

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2025

2024

£

£

Stocks and Investments

42,456

19,461

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

936

20,643

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

104,374

78,492

Other creditors

5,851

40,163

110,225

118,655