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REGISTERED NUMBER: 01308818 (England and Wales)















CONICDROP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






CONICDROP LIMITED (REGISTERED NUMBER: 01308818)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONICDROP LIMITED

COMPANY INFORMATION
for the Year Ended 31 MAY 2024







DIRECTORS: Mrs K L Woodall
Mrs S J Price
Mrs V J Osbourne





SECRETARY: Mrs S J Price





REGISTERED OFFICE: Woodhaven
Penn Common
Penn
Wolverhampton
West Midlands
WV4 5JZ





REGISTERED NUMBER: 01308818 (England and Wales)





ACCOUNTANTS: Wallace Crooke
College House
St Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

CONICDROP LIMITED (REGISTERED NUMBER: 01308818)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,102 2,473
Investment property 5 600,000 600,000
602,102 602,473

CURRENT ASSETS
Debtors 6 71 9,927
Cash at bank 60,503 35,482
60,574 45,409
CREDITORS
Amounts falling due within one year 7 23,219 2,612
NET CURRENT ASSETS 37,355 42,797
TOTAL ASSETS LESS CURRENT
LIABILITIES

639,457

645,270

PROVISIONS FOR LIABILITIES 8 111,626 84,906
NET ASSETS 527,831 560,364

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 526,831 559,364
SHAREHOLDERS' FUNDS 527,831 560,364

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

CONICDROP LIMITED (REGISTERED NUMBER: 01308818)

BALANCE SHEET - continued
31 MAY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





Mrs K L Woodall - Director


CONICDROP LIMITED (REGISTERED NUMBER: 01308818)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MAY 2024

1. STATUTORY INFORMATION

Conicdrop 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover
Turnover represents rents receivable in respect of investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment & fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

CONICDROP LIMITED (REGISTERED NUMBER: 01308818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Equipment
& fittings
£   
COST
At 1 June 2023
and 31 May 2024 14,039
DEPRECIATION
At 1 June 2023 11,566
Charge for year 371
At 31 May 2024 11,937
NET BOOK VALUE
At 31 May 2024 2,102
At 31 May 2023 2,473

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 600,000
NET BOOK VALUE
At 31 May 2024 600,000
At 31 May 2023 600,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2021 444,400
Cost 155,600
600,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 155,600 155,600

investment property was valued on an open market basis on 31 May 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 71 9,927

CONICDROP LIMITED (REGISTERED NUMBER: 01308818)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 445 810
Other creditors 22,774 1,802
23,219 2,612

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 111,626 84,906

Deferred
tax
£   
Balance at 1 June 2023 84,906
Provided during year 26,720
Balance at 31 May 2024 111,626

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000