Company Registration No. 02274529 (England and Wales)
Drivemodern Limited
Unaudited accounts
for the year ended 31 March 2025
Drivemodern Limited
Unaudited accounts
Contents
Drivemodern Limited
Company Information
for the year ended 31 March 2025
Directors
M Lindsell
C Boundy
L Chan
V Jayne
Company Number
02274529 (England and Wales)
Registered Office
77 Sunnyside Road
London
N19 3SL
Accountants
Loizou Associates Limited
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ
Drivemodern Limited
Statement of financial position
as at 31 March 2025
Tangible assets
2,620
2,620
Cash at bank and in hand
29
29
Creditors: amounts falling due within one year
(2,865)
(2,865)
Net current liabilities
(84)
(1,512)
Called up share capital
5
5
Profit and loss account
2,531
1,103
Shareholders' funds
2,536
1,108
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 December 2025 and were signed on its behalf by
V Jayne
Director
Company Registration No. 02274529
Drivemodern Limited
Notes to the Accounts
for the year ended 31 March 2025
Drivemodern Limited is a private company, limited by shares, registered in England and Wales, registration number 02274529. The registered office is 77 Sunnyside Road, London, N19 3SL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparing the accounts
These accounts 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 accounts have been prepared under the historical cost convention.
The presentation currency of the accounts is the Pound Sterling (£).
Turnover represents members' contributions receivable.
No depreciation is charged on the cost of freehold property.
The company is not assesable to Corporation Tax on its profits in so far as it arises from mutual trading with its members. Reserves are retained on behalf of members to finance future costs of maintaining common parts of the property and ancillary costs which may exceed service charges raised from one year to next.
4
Tangible fixed assets
Land & buildings
Fixed assets represent the cost of purchasing the freehold interest in the property including legal and other associated costs. The company owns the freehold interest subject to the leasehold interests held by its members.
Drivemodern Limited
Notes to the Accounts
for the year ended 31 March 2025
Amounts falling due within one year
Accrued income and prepayments
2,752
1,324
6
Creditors: amounts falling due within one year
2025
2024
Other creditors
2,615
2,615
Included in other creditors is the initial contributions by members towards the original purchase of the freehold property which are non interest bearing with no fixed repayments terms.
7
Average number of employees
During the year the average number of employees was 0 (2024: 0).