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REGISTERED NUMBER: 11132527 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

DROPSHOT COFFEE LTD

DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


DROPSHOT COFFEE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: Mr E Savitt





REGISTERED OFFICE: 281 Wimbledon Park Road
Southfields
London
SW19 6NW





REGISTERED NUMBER: 11132527 (England and Wales)





ACCOUNTANTS: TaxAgility Limited
34 Lower Richmond Road
Putney
London
SW15 1JP

DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 60,375 67,375
Property, plant and equipment 5 226,740 204,923
287,115 272,298

CURRENT ASSETS
Inventories 7,000 3,500
Debtors 6 11,279 35,001
Cash and cash equivalents 114,924 60,254
133,203 98,755
CREDITORS
Amounts falling due within one year 7 (122,736 ) (121,326 )
NET CURRENT ASSETS/(LIABILITIES) 10,467 (22,571 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

297,582

249,727

CREDITORS
Amounts falling due after more than one
year

8

(37,403

)

(47,396

)
NET ASSETS 260,179 202,331

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 260,079 202,231
260,179 202,331

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 October 2024 and were signed by:





Mr E Savitt - Director


DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Dropshot Coffee 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
Revenue 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 0, is being amortised evenly over its estimated useful life of nil 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
Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 70,000
AMORTISATION
At 1 February 2023 2,625
Charge for year 7,000
At 31 January 2024 9,625
NET BOOK VALUE
At 31 January 2024 60,375
At 31 January 2023 67,375

5. PROPERTY, PLANT AND EQUIPMENT
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 98,242 113,505 59,014 270,761
Additions 9,970 47,910 - 57,880
At 31 January 2024 108,212 161,415 59,014 328,641
DEPRECIATION
At 1 February 2023 - 60,920 4,918 65,838
Charge for year - 25,244 10,819 36,063
At 31 January 2024 - 86,164 15,737 101,901
NET BOOK VALUE
At 31 January 2024 108,212 75,251 43,277 226,740
At 31 January 2023 98,242 52,585 54,096 204,923

DROPSHOT COFFEE LTD (REGISTERED NUMBER: 11132527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 4,531 33,249
Other debtors 6,748 1,752
11,279 35,001

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 6,162 -
Trade creditors 14,256 33,145
Taxation and social security 79,256 60,731
Other creditors 23,062 27,450
122,736 121,326

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Hire purchase contracts 37,403 47,396

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
Mr E Savitt and Mr E Savitt
Balance outstanding at start of year 21,749 21,749
Amounts advanced 1,312 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 23,061 21,749

It is confirmed that the director's current account is debited with personal transactions and credited with director's remuneration as well as dividend.

The loan is unsecured, interest free and no repayment terms have been agreed.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr E Savitt.

The ultimate controlling party is Mr E Savitt.