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Registered number: 01348603
Drakefern Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2025
Sinclair Day Accountancy Ltd
The Mill House, Court Farm, Church Lane
Norton
Worcester
WR5 2PS
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 01348603
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 37,624 45,680
Investments 5 567,000 817,000
604,624 862,680
CURRENT ASSETS
Debtors 377,160 2,160
Cash at bank and in hand 181,835 182,480
558,995 184,640
Creditors: Amounts Falling Due Within One Year (76,858 ) (10,441 )
NET CURRENT ASSETS (LIABILITIES) 482,137 174,199
TOTAL ASSETS LESS CURRENT LIABILITIES 1,086,761 1,036,879
NET ASSETS 1,086,761 1,036,879
CAPITAL AND RESERVES
Called up share capital 6 100 100
Revaluation reserve 7 178,729 353,729
Profit and Loss Account 907,932 683,050
SHAREHOLDERS' FUNDS 1,086,761 1,036,879
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2025 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mrs Diana Chilton
Director
04/12/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Drakefern Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01348603 . The registered office is The Old Smithy, Smith End Green Leigh Sinton, Malvern, Worcestershire, WR13 5DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Total
£
Cost
As at 1 April 2024 67,188
Additions 1,239
As at 31 March 2025 68,427
Depreciation
As at 1 April 2024 21,508
Provided during the period 9,295
As at 31 March 2025 30,803
Net Book Value
As at 31 March 2025 37,624
As at 1 April 2024 45,680
5. Investments
Total
£
Cost or Valuation
As at 1 April 2024 817,000
Disposals (75,000 )
Fair value adjustments (175,000 )
As at 31 March 2025 567,000
Provision
As at 1 April 2024 -
As at 31 March 2025 -
Net Book Value
As at 31 March 2025 567,000
As at 1 April 2024 817,000
6. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
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7. Reserves
Revaluation reserve Profit and Loss Account
£ £
As at 1 April 2024 353,729 683,050
Profit for the year and total comprehensive income - 225,382
Dividends paid - (500)
Transfer to/from Profit & Loss Account (175,000 ) -
As at 31 March 2025 178,729 907,932
Page 5