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REGISTERED NUMBER: 11738210 (England and Wales)
























STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

DRYAD LEICESTER LIMITED

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024










Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


DRYAD LEICESTER LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2024







DIRECTORS: D W Edwards
S Khele
A P Skidmore





REGISTERED OFFICE: Hamilton House
21 Mountain Road
Leicester
Leicestershire
LE4 9HQ





REGISTERED NUMBER: 11738210 (England and Wales)





AUDITORS: TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

STRATEGIC REPORT
For The Year Ended 30 June 2024


The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The company continued its principal activity throughout the year, being a holding company for the Dryad Group which is engaged in the supply of arts and craft materials.

The company remained dormant throughout the year.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties facing the business continue to be the competitive nature of the market place in which the company operates and the impact of Government spending cuts on the customer base.

ON BEHALF OF THE BOARD:





D W Edwards - Director


19 December 2024

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

REPORT OF THE DIRECTORS
For The Year Ended 30 June 2024


The directors present their report with the financial statements of the company for the year ended 30 June 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a holding company for the Dryad Group which is engaged in the supply of arts and craft materials.

DIVIDENDS
The total distribution of dividends for the year ended 30 June 2024 will be £330,000.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

D W Edwards
S Khele

Other changes in directors holding office are as follows:

A P Skidmore - appointed 15 February 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

REPORT OF THE DIRECTORS
For The Year Ended 30 June 2024


AUDITORS
The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





D W Edwards - Director


19 December 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DRYAD LEICESTER LIMITED


Opinion
We have audited the financial statements of Dryad Leicester Limited (the 'company') for the year ended 30 June 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DRYAD LEICESTER LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks that are applicable to the company and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (UK GAAP and the Companies Act 2006) and the relevant tax compliance regulations in the UK.

We understood how the company is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through review of board minutes and discussions with those charged with governance.

We assess the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by discussion with management from various parts of the business to understand where they considered there was a susceptibility to fraud. We considered the procedures and controls that the company has established to prevent and detect fraud, and how these are monitored by management, and also any enhanced risk factors such as performance targets.

Based on our understanding, we designed our audit procedures to identify any non-compliance with laws and regulations identified in the paragraphs above

We also performed audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
DRYAD LEICESTER LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Emma Jones FCCA (Senior Statutory Auditor)
for and on behalf of TC Group
31 High View Close
Hamilton Office Park
Leicester
Leicestershire
LE4 9LJ

19 December 2024

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

STATEMENT OF COMPREHENSIVE
INCOME
For The Year Ended 30 June 2024

Period
1.9.22
Year ended to
30.6.24 30.6.23
Notes £    £   

TURNOVER - -
OPERATING PROFIT - -

Income from shares in group undertakings 330,000 300,000
PROFIT BEFORE TAXATION 330,000 300,000

Tax on profit 3 - -
PROFIT FOR THE FINANCIAL YEAR 330,000 300,000

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

330,000

300,000

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 2,000,000 2,030,297

CURRENT ASSETS
Debtors 6 21,200 21,200

CREDITORS
Amounts falling due within one year 7 36,000 66,297
NET CURRENT LIABILITIES (14,800 ) (45,097 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,985,200 1,985,200

CAPITAL AND RESERVES
Called up share capital 8 21,200 21,200
Retained earnings 9 1,964,000 1,964,000
SHAREHOLDERS' FUNDS 1,985,200 1,985,200

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





D W Edwards - Director


DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

STATEMENT OF CHANGES IN EQUITY
For The Year Ended 30 June 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 September 2022 21,200 1,964,000 1,985,200

Changes in equity
Dividends - (300,000 ) (300,000 )
Total comprehensive income - 300,000 300,000
Balance at 30 June 2023 21,200 1,964,000 1,985,200

Changes in equity
Dividends - (330,000 ) (330,000 )
Total comprehensive income - 330,000 330,000
Balance at 30 June 2024 21,200 1,964,000 1,985,200

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024


1. STATUTORY INFORMATION

Dryad Leicester Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

Preparation of consolidated financial statements
The financial statements contain information about Dryad Leicester Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Dryad Creative Limited, 21 Mountain Road, Leicester, England, LE4 9HQ.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30 June 2024 nor for the period ended 30 June 2023.

4. DIVIDENDS
Period
1.9.22
Year ended to
30.6.24 30.6.23
£    £   
Ordinary shares of 1 each
Final 330,000 300,000

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 July 2023 2,030,297
Disposals (30,297 )
At 30 June 2024 2,000,000
NET BOOK VALUE
At 30 June 2024 2,000,000
At 30 June 2023 2,030,297

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Specialist Crafts Limited
Registered office: 21 Mountain Road, Leicester, LE4 9HQ
Nature of business: Supply of arts and crafts
%
Class of shares: holding
Ordinary 100.00

During the year the company transferred its investment in Dubai General Trading LLC to its parent company, Dryad Creative Limited.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Called up share capital not paid 21,200 21,200

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 36,000 36,000
Other creditors - 30,297
36,000 66,297

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
21,200 Ordinary share capital 1 21,200 21,200

DRYAD LEICESTER LIMITED (REGISTERED NUMBER: 11738210)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024


9. RESERVES
Retained
earnings
£   

At 1 July 2023 1,964,000
Profit for the year 330,000
Dividends (330,000 )
At 30 June 2024 1,964,000

10. ULTIMATE PARENT COMPANY

Dryad Creative Limited is regarded by the directors as being the company's ultimate parent company.

Dryad Creative Limited is owned and controlled by the directors of Specialist Crafts Limited.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.