Acorah Software Products - Accounts Production 16.0.110 false true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 10481910 Mr Robert Varney Mr Thomas Varney iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10481910 2022-11-30 10481910 2023-11-30 10481910 2022-12-01 2023-11-30 10481910 frs-core:CurrentFinancialInstruments 2023-11-30 10481910 frs-core:Non-currentFinancialInstruments 2023-11-30 10481910 frs-core:MotorVehicles 2023-11-30 10481910 frs-core:MotorVehicles 2022-12-01 2023-11-30 10481910 frs-core:MotorVehicles 2022-11-30 10481910 frs-core:PlantMachinery 2023-11-30 10481910 frs-core:PlantMachinery 2022-12-01 2023-11-30 10481910 frs-core:PlantMachinery 2022-11-30 10481910 frs-core:WithinOneYear 2023-11-30 10481910 frs-core:ShareCapital 2023-11-30 10481910 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 10481910 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10481910 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 10481910 frs-bus:SmallEntities 2022-12-01 2023-11-30 10481910 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10481910 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 10481910 frs-bus:Director1 2022-12-01 2023-11-30 10481910 frs-bus:Director2 2022-12-01 2023-11-30 10481910 frs-countries:EnglandWales 2022-12-01 2023-11-30 10481910 2021-11-30 10481910 2022-11-30 10481910 2021-12-01 2022-11-30 10481910 frs-core:CurrentFinancialInstruments 2022-11-30 10481910 frs-core:Non-currentFinancialInstruments 2022-11-30 10481910 frs-core:BetweenOneFiveYears 2022-11-30 10481910 frs-core:WithinOneYear 2022-11-30 10481910 frs-core:ShareCapital 2022-11-30 10481910 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 10481910
Drops Cycling Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10481910
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,484 43,774
8,484 43,774
CURRENT ASSETS
Stocks 5 - 68,350
Debtors 6 364,030 6,000
Cash at bank and in hand 6,786 50,422
370,816 124,772
Creditors: Amounts Falling Due Within One Year 7 (361,009 ) (140,106 )
NET CURRENT ASSETS (LIABILITIES) 9,807 (15,334 )
TOTAL ASSETS LESS CURRENT LIABILITIES 18,291 28,440
Creditors: Amounts Falling Due After More Than One Year 8 - (28,333 )
NET ASSETS 18,291 107
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 18,191 7
SHAREHOLDERS' FUNDS 18,291 107
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robert Varney
Director
12 November 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Drops Cycling Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10481910 . The registered office is The Mill Pury Hill Business Park, Alderton Road, Towcester, NN12 7LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% straight line
Motor Vehicles 25% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 December 2022 101,458 69,209 170,667
Disposals - (42,712 ) (42,712 )
As at 30 November 2023 101,458 26,497 127,955
Depreciation
As at 1 December 2022 90,214 36,679 126,893
Provided during the period 8,347 5,587 13,934
Disposals - (21,356 ) (21,356 )
As at 30 November 2023 98,561 20,910 119,471
Net Book Value
As at 30 November 2023 2,897 5,587 8,484
As at 1 December 2022 11,244 32,530 43,774
5. Stocks
2023 2022
£ £
Stock - 68,350
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 364,030 6,000
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 28,071 20,000
Other creditors 283,650 102,987
Taxation and social security 49,288 17,119
361,009 140,106
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts - 28,333
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9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 28,071 20,000
Later than one year and not later than five years - 28,333
28,071 48,333
28,071 48,333
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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