General Information
Drew Resources LLP is a limited liability partnership, registered in England and Wales, under OC357069, at Unit 10 Clayfield Mews, Newcomen Road, Tunbridge Wells, Kent, TN4 9PA.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006, including the provisions of Section 1A "Small Entities" and the requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships..
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The Proprietors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of consultancy services supplied by the LLP, net of trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Licences and patents
Licences and patents are stated at cost less amortisation. Amortisation of licences is calculated on a straight line basis over the life of the licence. Amortisation of patents is calculated on a straight line basis over the estimated expected useful economic life of the patents of 5 years.
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:
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives. Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2024 : 0).
|
| 3. |
Intangible fixed assets
| Cost |
Other intangible assets |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
470 |
|
470 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 March 2025 |
470 |
|
470 |
| Amortisation |
| At 01 April 2024 |
399 |
|
399 |
| Charge for year |
71 |
|
71 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
470 |
|
470 |
| Net book values |
| At 31 March 2025 |
- |
|
- |
| At 31 March 2024 |
71 |
|
71 |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Plant and machinery etc |
|
Total |
| |
£ |
|
£ |
| At 01 April 2024 |
129,000 |
|
129,000 |
| Additions |
23,000 |
|
23,000 |
| Disposals |
- |
|
- |
| At 31 March 2025 |
152,000 |
|
152,000 |
| Depreciation |
| At 01 April 2024 |
98,981 |
|
98,981 |
| Charge for year |
16,568 |
|
16,568 |
| On disposals |
- |
|
- |
| At 31 March 2025 |
115,549 |
|
115,549 |
| Net book values |
| Closing balance as at 31 March 2025 |
36,451 |
|
36,451 |
| Opening balance as at 01 April 2024 |
30,019 |
|
30,019 |
The net book value of Motor Vehicles includes £ 31,067 (2024 £22,188) in respect of assets leased under finance leases or hire purchase contracts.
|
| 5. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Obligations under HP/Financial Leases |
2,151 |
|
12,500 |
| Other Creditors |
2,992 |
|
2,963 |
|
5,143 |
|
15,463 |
|
| 6. |
Creditors: amount falling due after more than one year
|
2025
£ |
|
2024
£ |
| Obligations under HP/Financial Leases |
14,414 |
|
12,500 |
|
14,414 |
|
12,500 |
|
| 7. |
Members' Interests
|
Other reserves |
|
Loans and other debts due to members less any amounts due from members included in debtors |
|
Total |
|
| Balance at 01 April 2024 |
- |
|
26,100 |
|
26,100 |
| Profit for the period available for discretionary division among members |
71,028 |
|
- |
|
71,028 |
| Members' interests after profit for the period |
71,028 |
|
26,100 |
|
97,128 |
| Drawings |
- |
|
(78,061) |
|
(78,061) |
| Balance at 31 March 2025 |
71,028 |
|
(51,961) |
|
19,067 |
| |
|
| 8. |
Loans and Other Debts Due to Members
Loans and other debts due to members represent allocated profits which have not yet been paid to members. Payment is due within one year and would rank after unsecured creditors in the event of winding-up.
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2
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