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Unaudited Financial Statements |
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for the Period 1 November 2018 to 31 December 2019 |
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for |
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Dropless Ltd |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 November 2018 to 31 December 2019 |
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for |
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Dropless Ltd |
Dropless Ltd (Registered number: 11018311) |
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Contents of the Financial Statements |
for the Period 1 November 2018 to 31 December 2019 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Dropless Ltd |
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Company Information |
for the Period 1 November 2018 to 31 December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Evolution House |
Delft Way |
Norwich Airport |
Norwich |
Norfolk |
NR6 6BB |
Dropless Ltd (Registered number: 11018311) |
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Statement of Financial Position |
31 December 2019 |
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31.12.19 | 31.10.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CREDITORS |
Amounts falling due after more than one year | 8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Share premium |
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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. |
Dropless Ltd (Registered number: 11018311) |
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Statement of Financial Position - continued |
31 December 2019 |
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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 and authorised for issue on
signed on its behalf by: |
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Dropless Ltd (Registered number: 11018311) |
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Notes to the Financial Statements |
for the Period 1 November 2018 to 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Dropless Ltd is a
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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 |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value |
added tax and other sales taxes. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less |
any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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Taxation |
Taxation for the period 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 statement of financial position date. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are |
depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of |
the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
Dropless Ltd (Registered number: 11018311) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2018 to 31 December 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | INTANGIBLE FIXED ASSETS |
Computer |
software |
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COST |
At 1 November 2018 |
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Additions |
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At 31 December 2019 |
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AMORTISATION |
Amortisation for period |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 October 2018 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 November 2018 |
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Additions |
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At 31 December 2019 |
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DEPRECIATION |
Charge for period |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 October 2018 |
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Dropless Ltd (Registered number: 11018311) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2018 to 31 December 2019 |
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5. | PROPERTY, PLANT AND EQUIPMENT - continued |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
Additions |
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At 31 December 2019 |
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DEPRECIATION |
Charge for period |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.10.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts | - | 311 |
VAT |
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Called up share capital not paid |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.10.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 732 | - |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.12.19 | 31.10.18 |
£ | £ |
Hire purchase contracts |
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Dropless Ltd (Registered number: 11018311) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2018 to 31 December 2019 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.19 | 31.10.18 |
value: | £ | £ |
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Ordinary | 0.00001 | 122 | - |
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Ordinary | £1 | - | 1 |
122 | 1 |
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On 1 February 2019 there were 99 £1 Ordinary shares were issued. |
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On 1 February 2019 the 100 £1 Ordinary shares were sub divided into 10,000,000 £0.00001 shares. |
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On 14 February 2019 there were 129,441Ordinary £0.00001 issued for £0.11588. |
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On 15 February 2019 there were 862,962 Ordinary £0.00001 issued for £0.11588. |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the periods ended 31 December 2019 and |
31 October 2018: |
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31.12.19 | 31.10.18 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
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Balance outstanding at start of period |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
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Balance outstanding at start of period |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
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Dropless Ltd (Registered number: 11018311) |
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Notes to the Financial Statements - continued |
for the Period 1 November 2018 to 31 December 2019 |
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11. | RELATED PARTY DISCLOSURES |
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Included within Other creditors is a balance of £103,293 (2018: £74,936) which is an interest free loan owed to |
Passion Digital Ltd. This is a company under the control of Mr M Grindy; a director in common with Dropless Ltd. |
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Also, included with Other creditors is £75,000 funds introduced as loan from company shareholders. Of these loans, |
£25,000 was provided by director, Mr M Grindy, and the remaining £50,000 was provided by investors in Dropless |
Ltd. |
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Included in Advertising is the balance of £27,686 paid to Passion Digital Ltd; a company under common control of |
director, Mr M Grindy. |
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Capitalised in intangible assets is £1,626 (2018: £23,577) for website development paid to Passion Digital which is a |
company owned by the director in common, Mr M Grindy. |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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