Company Registration No. 07741286 (England and Wales)
Right Draft Ltd
Unaudited accounts
for the year ended 31 August 2020
Right Draft Ltd
Unaudited accounts
Contents
Right Draft Ltd
Company Information
for the year ended 31 August 2020
Director
Michael Southall
Company Number
07741286 (England and Wales)
Registered Office
118 Bridle Lane
Streetly
Sutton Coldfield
West Midlands
B74 3HG
Accountants
R M Accountancy Services Ltd
The Old Post Office
137-139 Long Street
Dordon
Staffordshire
B78 1SH
Right Draft Ltd
Statement of financial position
as at
31 August 2020
Cash at bank and in hand
1
1
Creditors: amounts falling due within one year
1,452
555
Net current assets
1,453
556
Called up share capital
1
1
Profit and loss account
1,452
555
Shareholders' funds
1,453
556
For the year ending 31 August 2020 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 director acknowledges his 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 and authorised for issue on 27 August 2021 and were signed on its behalf by
Michael Southall
Director
Company Registration No. 07741286
Right Draft Ltd
Notes to the Accounts
for the year ended 31 August 2020
Right Draft Ltd is a private company, limited by shares, registered in England and Wales, registration number 07741286. The registered office is 118 Bridle Lane, Streetly, Sutton Coldfield, West Midlands, B74 3HG.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Over three years
The accounts are presented in £ sterling.
4
Tangible fixed assets
Computer equipment
Cost or valuation
At cost
At 1 September 2019
3,204
At 1 September 2019
3,204
Right Draft Ltd
Notes to the Accounts
for the year ended 31 August 2020
5
Creditors: amounts falling due within one year
2020
2019
Taxes and social security
17,776
7,896
Loans from directors
(20,008)
(9,231)
6
Average number of employees
During the year the average number of employees was 1 (2019: 1).