Company registration number 01825620 (England and Wales)
DRAYSON & SONS (TIMBER MERCHANTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
DRAYSON & SONS (TIMBER MERCHANTS) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
DRAYSON & SONS (TIMBER MERCHANTS) LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
99,083
99,083
Net current assets
99,083
99,083
Capital and reserves
Called up share capital
4
65,000
65,000
Share premium account
4,600
4,600
Profit and loss reserves
29,483
29,483
Total equity
99,083
99,083
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 23 June 2023
J D M Berry
Director
Company Registration No. 01825620
DRAYSON & SONS (TIMBER MERCHANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information
Drayson & Sons (Timber Merchants) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Myers House, Barr Street, Off Leeds Road, Huddersfield, HD1 6PB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Profit and loss account
The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Office and management
1
1
DRAYSON & SONS (TIMBER MERCHANTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 3 -
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
99,083
99,083
4
Share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
65,000
65,000
65,000
65,000
5
Related party transactions
The Company is a wholly owned subsidiary of Isaac Timmins Limited and as such has taken advantage of the exemption permitted by FRS 102 Section 33 'Related Party Disclosures' not to provide disclosures of transactions entered into with the parent company or other wholly owned subsidiaries within the group. The consolidated financial statements can be obtained from Companies House.
6
Ultimate controlling party
The Company's immediate parent undertaking is Myers Building Supplies Ltd and its ultimate parent company is Isaac Timmins Limited. The directors do not consider there to be a single ultimate controlling party.