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REGISTERED NUMBER: 02912171 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 October 2022

for

Drumco Events Ltd.

Drumco Events Ltd. (Registered number: 02912171)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drumco Events Ltd.

Company Information
for the Year Ended 31 October 2022







DIRECTORS: P J Dukes
Mrs A M Dukes





SECRETARY: Mrs A M Dukes





REGISTERED OFFICE: The Old Dairy
Warren Farm
Old Down
Morestead
Hampshire
SO21 1JD





REGISTERED NUMBER: 02912171 (England and Wales)





ACCOUNTANTS: Behegan Lynes
Accountancy & Taxation Advisers
Bank Chambers
Brook Street
Bishops Waltham
Hampshire
SO32 1AX

Drumco Events Ltd. (Registered number: 02912171)

Balance Sheet
31 October 2022

31.10.22 31.10.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 139,501 105,261

CURRENT ASSETS
Stocks 2,500 2,500
Debtors 5 53,000 32,840
Cash at bank 258,491 371,571
313,991 406,911
CREDITORS
Amounts falling due within one year 6 223,330 345,201
NET CURRENT ASSETS 90,661 61,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

230,162

166,971

CREDITORS
Amounts falling due after more than one
year

7

(52,260

)

(62,127

)

PROVISIONS FOR LIABILITIES 9 (26,505 ) (19,999 )
NET ASSETS 151,397 84,845

CAPITAL AND RESERVES
Called up share capital 10 105 105
Retained earnings 151,292 84,740
SHAREHOLDERS' FUNDS 151,397 84,845

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Drumco Events Ltd. (Registered number: 02912171)

Balance Sheet - continued
31 October 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





Mrs A M Dukes - Director


Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Drumco Events Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on cost
Marquees & equipment - 15% on cost
Fixtures & fittings - 20% on cost
Motor vehicles - 25% on cost
Office equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.


Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Employee benefits
Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2021 - 6 ) .

Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS
Improvements
to Marquees Fixtures
property & equipment & fittings
£    £    £   
COST
At 1 November 2021 24,924 638,120 2,043
Additions - 59,353 -
Disposals - (7,325 ) -
At 31 October 2022 24,924 690,148 2,043
DEPRECIATION
At 1 November 2021 24,924 572,441 2,043
Charge for year - 27,274 -
Eliminated on disposal - (6,325 ) -
At 31 October 2022 24,924 593,390 2,043
NET BOOK VALUE
At 31 October 2022 - 96,758 -
At 31 October 2021 - 65,679 -

Motor Office
vehicles equipment Totals
£    £    £   
COST
At 1 November 2021 154,996 43,024 863,107
Additions 40,200 - 99,553
Disposals (50,700 ) - (58,025 )
At 31 October 2022 144,496 43,024 904,635
DEPRECIATION
At 1 November 2021 115,414 43,024 757,846
Charge for year 23,352 - 50,626
Eliminated on disposal (37,013 ) - (43,338 )
At 31 October 2022 101,753 43,024 765,134
NET BOOK VALUE
At 31 October 2022 42,743 - 139,501
At 31 October 2021 39,582 - 105,261

Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Marquees Motor
& equipment vehicles Totals
£    £    £   
COST
At 1 November 2021 11,746 71,455 83,201
Additions - 36,700 36,700
Disposals - (18,250 ) (18,250 )
Transfer to ownership (11,746 ) - (11,746 )
At 31 October 2022 - 89,905 89,905
DEPRECIATION
At 1 November 2021 5,286 31,954 37,240
Charge for year - 22,477 22,477
Eliminated on disposal - (4,563 ) (4,563 )
Transfer to ownership (5,286 ) - (5,286 )
At 31 October 2022 - 49,868 49,868
NET BOOK VALUE
At 31 October 2022 - 40,037 40,037
At 31 October 2021 6,460 39,501 45,961

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Trade debtors 1,818 21,261
Other debtors 51,182 11,579
53,000 32,840

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.22 31.10.21
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 14,543 15,941
Trade creditors 12,419 24,044
Taxation and social security 94,334 139,288
Other creditors 92,034 155,928
223,330 345,201

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.22 31.10.21
£    £   
Bank loans 29,167 39,167
Hire purchase contracts 23,093 22,960
52,260 62,127

Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.22 31.10.21
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loan 29,167 39,167

8. SECURED DEBTS

The following secured debts are included within creditors:

31.10.22 31.10.21
£    £   
Bank loans 39,167 49,167
Hire purchase contracts 37,636 38,901
76,803 88,068

The Bank Loan is secured by the UK Government, under the bounce back loan scheme.

Hire purchase loans are secured against the assets purchased.

9. PROVISIONS FOR LIABILITIES
31.10.22 31.10.21
£    £   
Deferred tax 26,505 19,999

Deferred
tax
£   
Balance at 1 November 2021 19,999
Movement in accelerated
capital allowances 6,506
Balance at 31 October 2022 26,505

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.22 31.10.21
value: £    £   
80 Ordinary £1 80 80
10 Ordinary A £1 10 10
10 Ordinary B £1 10 10
5 Ordinary C £1 5 5
105 105

Drumco Events Ltd. (Registered number: 02912171)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2022 and 31 October 2021:

31.10.22 31.10.21
£    £   
P J Dukes
Balance outstanding at start of year - -
Amounts advanced 31,845 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 31,845 -