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Draw Connect Limited |
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Unaudited Financial Statements For The Year Ended 31 December 2016 |
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REGISTERED NUMBER:
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Draw Connect Limited |
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Unaudited Financial Statements For The Year Ended 31 December 2016 |
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Draw Connect Limited (Registered number: 09254270) |
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Contents of the Financial Statements |
For The Year Ended 31 December 2016 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Draw Connect Limited |
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Company Information |
For The Year Ended 31 December 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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Draw Connect Limited (Registered number: 09254270) |
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Balance Sheet |
31 December 2016 |
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2016 | 2015 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Draw Connect Limited (Registered number: 09254270) |
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Notes to the Financial Statements |
For The Year Ended 31 December 2016 |
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1. | STATUTORY INFORMATION |
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Draw Connect Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
The turnover shown in the profit and loss account represents services provided during the year, exclusive of |
Value Added Tax. Turnover in respect of long-term contracts for on-going services is recognised by reference to |
the stage of completion. |
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Tangible fixed assets |
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Plant and machinery | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Draw Connect Limited (Registered number: 09254270) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2016 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2016 |
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Additions |
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At 31 December 2016 |
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DEPRECIATION |
At 1 January 2016 |
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Charge for year |
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At 31 December 2016 |
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NET BOOK VALUE |
At 31 December 2016 |
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At 31 December 2015 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Draw Connect Limited (Registered number: 09254270) |
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Notes to the Financial Statements - continued |
For The Year Ended 31 December 2016 |
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7. | RELATED PARTY DISCLOSURES |
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Mr N Elsom |
Mr N Elsom owns 49% of the shares in Draw Connect Limited. |
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During the year dividends of £24,500 (2015 - £22,160) were paid to Mr N Elsom. |
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At the year end the company owed the director Mr N Elsom £949 (2015 - £8,051). |
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Draw Group Limited |
Draw Group Limited own 51% of the shares in Draw Connect Limited. |
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During the year dividends of £25,500 (2015 - £23,064) were paid to this company. |
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The amount due to this company at the year end was £7,650 (2015 - £30,507). |
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Draw Create Limited |
The company has a fellow subsidiary called Draw Create Limited formerly Draw Digital Limited. |
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During the year a loan was made to Draw Create Limited of £50,000. |
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The amount due from this company at the year end was £69,750 (2015 - £20,563 owed to the company). |
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Draw Create Limited provided services at arm's length in the year of £153,289 (2015 - £42,429). |
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Draw Connect Limited provided services at arm's length in the year for Draw Create Limited totalling £106,171 |
(2015: Nil). |
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8. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is Draw Group London Limited by virtue of being majority shareholder. |
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9. | TRANSITION TO FRS 102 |
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These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 |
January 2015. |
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No transitional adjustments were required in equity or income statement for the year. |