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REGISTERED NUMBER: 09104047















Unaudited Financial Statements for the Year Ended 31 August 2023

for

Drumstick Products Company Limited

Drumstick Products Company Limited (Registered number: 09104047)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Drumstick Products Company Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: S Spitzer
R Spitzer
N Spitzer
Mrs E Spitzer
A Spitzer





REGISTERED OFFICE: 5 North End Road
London
NW11 7RJ





REGISTERED NUMBER: 09104047





ACCOUNTANTS: Martin+Heller
5 North End Road
London
NW11 7RJ

Drumstick Products Company Limited (Registered number: 09104047)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 150,000 300,000
Tangible assets 5 1,420,534 1,218,067
1,570,534 1,518,067

CURRENT ASSETS
Stocks 2,805,369 2,944,731
Debtors 6 3,032,472 2,142,554
Cash at bank 299,609 590,286
6,137,450 5,677,571
CREDITORS
Amounts falling due within one year 7 2,803,262 2,382,912
NET CURRENT ASSETS 3,334,188 3,294,659
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,904,722

4,812,726

CREDITORS
Amounts falling due after more than one
year

8

27,500

37,500
NET ASSETS 4,877,222 4,775,226

CAPITAL AND RESERVES
Called up share capital 9 100 100
Share premium 10 606,799 606,799
Retained earnings 10 4,270,323 4,168,327
SHAREHOLDERS' FUNDS 4,877,222 4,775,226

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

Drumstick Products Company Limited (Registered number: 09104047)

Balance Sheet - continued
31 August 2023


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 19 August 2024 and were signed on its behalf by:





A Spitzer - Director


Drumstick Products Company Limited (Registered number: 09104047)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

Drumstick Products Company Limited is a private company, limited by shares , registered in Not specified/Other. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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

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.

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.

Drumstick Products Company Limited (Registered number: 09104047)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2022 - 31 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 September 2022
and 31 August 2023 1,500,000
AMORTISATION
At 1 September 2022 1,200,000
Charge for year 150,000
At 31 August 2023 1,350,000
NET BOOK VALUE
At 31 August 2023 150,000
At 31 August 2022 300,000

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 September 2022 1,400,000 18,128 1,418,128
Additions - 301,311 301,311
At 31 August 2023 1,400,000 319,439 1,719,439
DEPRECIATION
At 1 September 2022 184,000 16,061 200,061
Charge for year 23,000 75,844 98,844
At 31 August 2023 207,000 91,905 298,905
NET BOOK VALUE
At 31 August 2023 1,193,000 227,534 1,420,534
At 31 August 2022 1,216,000 2,067 1,218,067

Drumstick Products Company Limited (Registered number: 09104047)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£ £
Trade debtors 2,492,850 1,851,546
Loan - Daleview 206,008 206,008
Loan - Millmead 93,690 85,000
VAT 164,322 -
Prepayments 75,602 -
3,032,472 2,142,554

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£ £
Bank loans and overdrafts 44,457 43,231
Trade creditors 2,544,530 1,935,970
VAT - 78,712
Directors current account 18,311 243,169
Corporation tax 171,714 58,858
PAYE & NIC 7,250 6,972
Accrued expenses 17,000 16,000
2,803,262 2,382,912

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£ £
Bank loans - 1-2 years 27,500 37,500

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £ £
100 Ordinary £1 100 100

10. RESERVES
Retained Share
earnings premium Totals
£ £ £

At 1 September 2022 4,168,327 606,799 4,775,126
Profit for the year 451,996 451,996
Dividends (350,000 ) (350,000 )
At 31 August 2023 4,270,323 606,799 4,877,122