Registered number
02782496
Dryband One Limited
Report and Consolidated Financial Statements
30 April 2024
Dryband One Limited
Report and accounts
Contents of the Consolidated Financial Statements
Page
Company information 1
Director's report 2
Strategic report 4
Independent auditors' report 5
Consolidated Income Statement 8
Consolidated Statement of financial position 9
Company Statement of financial position 10
Consolidated Statement of changes in equity 11
Company Statement of changes in equity 12
Consolidated Statement of cash flows 13
Notes to the financial statements 14
Dryband One Limited
Company Information
Director
Mrs LAK Khurana
Mr M R S Khurana
Secretary
Mrs LAK Khurana
Auditors
Jacksons
First Floor
Albion House
Albion Street
Hull
HU1 3TE
Bankers
The Royal Bank of Scotland
Nottingham Mapperley Branch
896 Woodborough Road
Mapperley
Nottingham
NG3 5QR
Registered office
Cloverdale Care Home
68 Butt Lane
Laceby
North East Lincolnshire
DN37 7AH
Registered number
02782496
Dryband One Limited
Registered number: 02782496
Director's Report
The director presents her report and financial statements for the company and the group for the year ended 30 April 2024.
Principal activities
The company's principal activity during the year continued to be the provision of care for the elderly.
Directors
The following persons served as directors during the year:
Mrs LAK Khurana
Mr M R S Khurana
Director's responsibilities
The director is responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 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 director is required to:
select suitable accounting policies and then apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is 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 her to ensure that the financial statements comply with the Companies Act 2006. She is 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.
Disclosure of information to auditors
The director confirms that:
so far as she is aware, there is no relevant audit information of which the company's auditor is unaware; and
she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditor is aware of that information.
Employment of disabled persons
The company has a policy of giving full and fair consideration of applications for employment made by disabled persons and will, where possible, arrange appropriate training for employees who are disabled at work to allow their employment to continue. The company also has a policy of engaging and consulting with employees to make them aware of matters of concern to them as employees.
This report was approved by the board on 27 January 2025 and signed on its behalf.
Mrs LAK Khurana
Director
Dryband One Limited
Strategic Report
Review of the business
The group generated a profit of £1,004,333 for the year ended 30th April 2024. All companies and care homes operated by the group were profitable and were operating with net assets.
The group balance sheet remains in a strong position with net assets of £7,567,548 and net current assets of £2,333,550 and enables the company to build upon the success of the current financial period.
The director considers the following key indicators when assessing performance:
2024 2023
Average Occupancy 87.3% 82.1%
Number of employees per resident 1.2 1.2
Turnover £ 6,953,163 £ 5,700,424
Gross Profit Margin 94.3% 77.4%
The director, in accordance with s. 172, seek to promote the long term success of the company, and consider the interests of all stakeholders, by regular management meetings and communication, coupled with the experience and varied skills of managers, administrators and carers and support staff.
Key risks
The key risks associated with the company's activities relate to changes in the regulatory requirements concerning care of the elderly. The directors review these risks on a regular basis and they do not envisage the business to be significantly affected by these matters for the foreseeable future.
Future developments
The director is confident that the group, which is well managed and properly financed, will continue to operate well for the foreseeable future.
This report was approved by the board on 27 January 2025 and signed on its behalf.
Mrs LAK Khurana
Director
Dryband One Limited
Independent auditor's report
to the members of Dryband One Limited
Opinion
We have audited the financial statements of Dryband One Limited for the year ended 30 April 2024 which comprise the Group Income Statement, the Group and Parent Statement of Financial Position, the Group and Parent Statement of Changes in Equity, the Group Statement of Cash Flows and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
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 an auditor's report 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.
In our opinion the financial statements:
give a true and fair view of the state of the group and the company's affairs as at 30 April 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis of 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 Auditor’s 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 director's 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 in relation to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for the 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 other information comprises the information included in the report and financial statements, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information. 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
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 directors’ report.
We have nothing to report in respect of the following matters in relation to which 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; or
Responsibilities of director
As explained more fully in the director's responsibilities statement, 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 is 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 director is 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.
Auditor’s 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 an auditor’s report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
As part of our planning process:
We enquired of management the systems and controls the company has in place, the areas of the financial statements that are mostly susceptible to the risk of irregularities and fraud, and whether there was any known, suspected or alleged fraud.
We obtained an understanding of the legal and regulatory frameworks applicable to the company and we determined that the following were most relevant: FRS 102, Companies Act 2006, Health and Safety at Work Act, Employment Law, The Care Act and Care Quality Commission Regulations.
We considered the incentives and opportunities that exist in the company, including the extent of management bias, which present a potential for irregularities and fraud to be perpetrated, and tailored our risk assessment accordingly.
Using our knowledge of the company, together with the discussions held with the company at the planning stage, we formed a conclusion on the risk of misstatement due to irregularities, including fraud, and tailored our procedures according to this risk assessment.
The key procedures we undertook to detect irregularities including fraud during the course of the audit included:
Identifying and testing journal entries and the overall accounting records. In particular, we tested items that were significant and unusual.
Reviewing and checking the group consolidation schedules
Reviewing the financial statement disclosures and determining whether accounting policies have been appropriately applied.
Reviewing and challenging the assumptions and judgements used by management in their significant accounting estimates. In particular, we considered going concern and impairment of land and buildings.
Assessing the extent of compliance, or lack of, with the relevant laws and regulations.
Testing key revenue lines
Performing physical verification of key assets
Obtaining third party confirmation of material balances.
Documenting and verifying all significant related party balances and transactions.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements even though we have properly planned and performed our audit in accordance with auditing standards. The primary responsibility for the prevention and detection of irregularities and fraud rests with the directors.
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 auditor’s report.
Mark Jackson BA FCA
(Senior Statutory Auditor) First Floor
for and on behalf of Albion House
Jacksons Albion Street
Accountants and Statutory Auditors Hull
27 January 2025 HU1 3TE
Dryband One Limited
Consolidated Income Statement
for the year ended 30 April 2024
Notes 2024 2023
£ £
Turnover 2 6,953,163 5,700,424
Cost of sales (397,513) (316,598)
Gross profit 6,555,650 5,383,826
Administrative expenses (5,251,017) (4,614,353)
Other operating income 17,693 5,992
Operating profit 3 1,322,326 775,465
Gain on sale of fixed assets (63) -
Interest receivable 50,462 8,258
Interest payable 6 - (1,721)
Profit on ordinary activities before taxation 1,372,725 782,002
Tax on profit on ordinary activities 7 (368,392) (139,585)
Profit for the financial year 1,004,333 642,417
Dryband One Limited
Consolidated Statement of Financial Position 02782496
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 8 2 2
Tangible assets 9 5,363,448 5,346,510
5,363,450 5,346,512
Current assets
Stocks 11 7,137 7,137
Debtors 12 449,916 350,529
Cash at bank and in hand 3,042,316 1,781,922
3,499,369 2,139,588
Creditors: amounts falling due within one year 13 (1,165,819) (779,720)
Net current assets 2,333,550 1,359,868
Total assets less current liabilities 7,697,000 6,706,380
Creditors: amounts falling due after more than one year 14 (9,090) (9,090)
Provisions for liabilities
Deferred taxation 15 (120,362) (90,075)
Net assets 7,567,548 6,607,215
Capital and reserves
Called up share capital 16 110,040 110,040
Profit and loss account 17 7,457,508 6,497,175
Total equity 7,567,548 6,607,215
Mrs LAK Khurana
Director
Approved by the board on 27 January 2025 and signed on its behalf
Dryband One Limited
Company Statement of Financial Position 02782496
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 8 2 2
Tangible assets 9 3,922,376 3,903,333
Investments 10 1,288,511 1,288,511
5,210,889 5,191,846
Current assets
Stocks 11 5,187 5,187
Debtors 12 316,021 233,373
Cash at bank and in hand 2,420,428 1,429,062
2,741,636 1,667,622
Creditors: amounts falling due within one year 13 (1,470,446) (1,163,974)
Net current assets 1,271,190 503,648
Total assets less current liabilities 6,482,079 5,695,494
Creditors: amounts falling due after more than one year 14 - -
Provisions for liabilities
Deferred taxation 15 (102,908) (76,860)
Net assets 6,379,171 5,618,634
Capital and reserves
Called up share capital 16 110,040 110,040
Profit and loss account 17 6,269,131 5,508,594
Total equity 6,379,171 5,618,634
Mrs LAK Khurana
Director
Approved by the board on 27 January 2025 and signed on its behalf
Dryband One Limited
Consolidated Statement of Changes in Equity
for the year ended 30 April 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 May 2022 110,040 5,854,758 5,964,798
Profit for the financial year - 642,417 642,417
At 30 April 2023 110,040 6,497,175 6,607,215
At 1 May 2023 110,040 6,497,175 6,607,215
Profit for the financial year - 1,004,333 1,004,333
Dividends - (44,000) (44,000)
At 30 April 2024 110,040 7,457,508 7,567,548
Dryband One Limited
Company Statement of Changes in Equity
for the year ended 30 April 2024
Share Profit Total
capital and loss
account
£ £ £
At 1 May 2022 110,040 5,002,366 5,112,406
Profit for the financial year - 506,228 506,228
Dividends - - -
At 30 April 2023 110,040 5,508,594 5,618,634
At 1 May 2023 110,040 5,508,594 5,618,634
Profit for the financial year - 804,537 804,537
Dividends - (44,000) (44,000)
At 30 April 2024 110,040 6,269,131 6,379,171
Dryband One Limited
Consolidated Statement of Cash Flows
for the year ended 30 April 2024
Notes 2024 2023
£ £
Operating activities
Profit for the financial year 1,004,333 642,417
Adjustments for:
Loss on sale of fixed assets 63 -
Interest receivable (50,462) (8,258)
Interest payable - 1,721
Tax on profit on ordinary activities 368,392 139,585
Depreciation 17,591 14,833
Decrease/(increase) in debtors (99,387) 48,652
(Decrease)/increase in creditors 186,423 46,419
1,426,953 885,369
Interest received 50,462 8,258
Interest paid - (1,721)
Corporation tax paid (138,429) (155,064)
Cash (used in)/generated by operating activities 1,338,986 736,842
Investing activities
Payments to acquire tangible fixed assets (34,592) -
Cash generated by investing activities (34,592) -
Financing activities
Equity dividends paid (44,000) -
Repayment of loans - (288,929)
Cash used in financing activities (44,000) (288,929)
Net cash (used)/generated
Cash (used in)/generated by operating activities 1,338,986 736,842
Cash generated by investing activities (34,592) -
Cash used in financing activities (44,000) (288,929)
Net cash (used)/generated 1,260,394 447,913
Cash and cash equivalents at 1 May 1,781,922 1,334,009
Cash and cash equivalents at 30 April 3,042,316 1,781,922
Cash and cash equivalents comprise:
Cash at bank 3,042,316 1,781,922
Dryband One Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Summary of significant accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
The director believes that the going concern policy is appropriate.
Basis of consolidation
The group financial statements consolidate the financial statements of Dryband One Limited and its subsidiary undertakings. The acquisition method of accounting has been adopted and goodwill arising on consolidation is amortised to the profit and loss account, over its estimated useful life.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the occupation of residential care homes and the provision of other services to residents.
Turnover from the rendering of services is recognised when the service has been performed.
Turnover from the occupation of care homes is recognised evenly over the duration of the individual resident's stay.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost (comprising the purchase price and any directly attributable costs, after deducting discounts and rebates) less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and buildings. The directors consider the recoverable value of the buildings to be higher than cost. Depreciation is charged at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 15 - 20% reducing balance
Depreciation is not provided on freehold buildings because the residual value of the buildings at the end of their useful life is expected to be higher than its cost or revaluation. No impairment losses are expected but all categories of fixed assets are annually reviewed for impairment.
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Analysis of turnover 2024 2023
£ £
Services rendered 6,953,163 5,700,424
By geographical market:
UK 6,953,163 5,700,424
3 Operating profit 2024 2023
£ £
This is stated after charging:
Depreciation of owned fixed assets 17,591 14,833
Auditors' remuneration for audit services - Group 18,960 17,520
Auditors' remuneration for audit services - Company 9,120 8,400
4 Director's emoluments 2024 2023
£ £
Emoluments 12,570 11,600
5 Staff costs 2024 2023
£ £
Wages and salaries 4,095,627 3,521,920
Social security costs 179,730 149,448
Other pension costs 61,506 54,270
4,336,863 3,725,638
Average number of employees during the year Number Number
Carers, Finance and Administration 243 233
6 Interest payable 2024 2023
£ £
Bank loans and overdrafts - 1,721
7 Taxation 2024 2023
£ £
Analysis of charge in period
Current tax:
UK corporation tax on profits of the period 338,105 138,429
Deferred tax:
Origination and reversal of timing differences 30,287 1,156
Tax on profit on ordinary activities 368,392 139,585
Factors affecting tax charge for period
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
2024 2023
£ £
Profit on ordinary activities before tax 1,372,725 782,002
Standard rate of corporation tax in the UK 25% 19%
£ £
Profit on ordinary activities multiplied by the standard rate of corporation tax 343,181 148,580
Effects of:
Expenses not deductible for tax purposes 302 5,671
Capital allowances for period in excess of depreciation (5,378) -
Utilisation of tax losses - (15,822)
Current tax charge for period 338,105 138,429
Factors that may affect future tax charges
Group companies hold capital losses of £2,128,411 which may be set against future capital gains.
8 Intangible fixed assets
Group
£
Goodwill:
Cost
At 1 May 2023 2,255,408
At 30 April 2024 2,255,408
Amortisation
At 1 May 2023 2,255,406
At 30 April 2024 2,255,406
Carrying amount
At 30 April 2024 2
At 30 April 2023 2
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. An annual impairment review is carried out and, where there is deemed to be an impairment, full provision is made.
Intangible fixed assets
Company
£
Goodwill:
Cost
At 1 May 2023 148,002
Additions -
Disposals -
At 30 April 2024 148,002
Amortisation
At 1 May 2023 148,000
Provided during the year -
On disposals -
At 30 April 2024 148,000
Carrying amount
At 30 April 2024 2
At 30 April 2023 2
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years. An annual impairment review is carried out and, where there is deemed to be an impairment, full provision is made.
9 Tangible fixed assets
Group
Freehold Land and buildings Plant and machinery Total
At cost At cost
£ £ £
Cost or valuation
At 1 May 2023 5,842,786 821,150 6,663,936
Additions - 34,592 34,592
Disposals - (13,264) (13,264)
At 30 April 2024 5,842,786 842,478 6,685,264
Depreciation
At 1 May 2023 561,068 756,358 1,317,426
Charge for the year - 17,591 17,591
On disposals - (13,201) (13,201)
At 30 April 2024 561,068 760,748 1,321,816
Carrying amount
At 30 April 2024 5,281,718 81,730 5,363,448
At 30 April 2023 5,281,718 64,792 5,346,510
Company
Land and buildings Plant and machinery Total
At cost At cost
£ £ £
Cost or valuation
At 1 May 2023 3,879,902 336,659 4,216,561
Additions - 26,580 26,580
Disposals - (6,631) (6,631)
At 30 April 2024 3,879,902 356,608 4,236,510
Depreciation
At 1 May 2023 - 313,228 313,228
Charge for the year - 7,502 7,502
On disposals - (6,596) (6,596)
At 30 April 2024 - 314,134 314,134
Carrying amount
At 30 April 2024 3,879,902 42,474 3,922,376
At 30 April 2023 3,879,902 23,431 3,903,333
10 Investments 2024 2023
£ £
Investments - Company 2024 2023
£ £
Shares in subsidiary undertakings 1,288,511 1,288,511
Unlisted investments - -
1,288,511 1,288,511
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Isle Care (Axholme) Limited Ordinary 100 1,808,046 102,297
11 Church Street, Haxey, Doncaster DN9 2HY
PB Residential Care Limited Ordinary 100 293,736 97,499
Newgrove House, Station Road, Grimsby DN36 4RZ
All subsidiaries have registered offices located in the United Kingdom
11 Stocks The Company The Group
2024 2023 2024 2023
£ £ £ £
Finished goods and goods for resale 5,187 5,187 7,137 7,137
12 Debtors The Company The Group
2024 2023 2024 2023
£ £ £ £
Trade debtors 237,948 219,056 281,422 272,487
Other debtors 57,110 - 147,532 63,725
Prepayments and accrued income 20,963 14,317 20,962 14,317
316,021 233,373 449,916 350,529
13 Creditors: amounts falling due within one year The Company The Group
2024 2023 2024 2023
£ £ £ £
Trade creditors 89,193 97,867 139,621 149,183
Amounts owed to group undertakings 626,425 590,424 - -
Corporation tax 269,703 123,644 338,105 138,429
Other taxes and social security costs 43,369 35,568 64,758 53,389
Other creditors 125,207 44,057 306,788 166,305
Accruals and deferred income 316,549 272,414 316,547 272,414
1,470,446 1,163,974 1,165,819 779,720
14 Creditors: amounts falling due after one year The Company The Group
2024 2023 2024 2023
£ £ £ £
Other creditors - - 9,090 9,090
Accruals and deferred income - - - -
- - 9,090 9,090
15 Deferred taxation The Company The Group
2024 2023 2024 2023
£ £ £ £
Accelerated capital allowances 102,908 76,860 120,362 90,075
2024 2023 2024 2023
£ £ £ £
At 1 May 76,860 73,766 90,075 88,919
Credited to the profit and loss account 26,048 3,094 30,287 1,156
At 30 April 102,908 76,860 120,362 90,075
16 Share capital Nominal 2024 2024 2023
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 110,040 110,040 110,040
17 Profit and loss account The Company The Group
2024 2023 2024 2023
£ £ £ £
At 1 May 5,508,594 5,002,366 6,497,175 5,854,758
Profit for the financial year 804,537 506,228 1,004,333 642,417
Dividends (44,000) - (44,000) -
At 30 April 6,269,131 5,508,594 7,457,508 6,497,175
18 Dividends 2024 2023
£ £
Dividends on ordinary shares (note 17) 44,000 -
19 Changes in net debt
At 1 May 2023 Cash flows At 30 April 2024
£ £
Cash and cash equivalents
Cash at bank and in hand 1,781,922 1,260,394 3,042,316
1,781,922 1,260,394 3,042,316
20 Events after the reporting date
Following the year end, the company's bank loans were fully repaid.
21 Controlling party
The company is controlled by L A K Khurana.
22 Presentation currency
The financial statements are presented in Sterling, the company's functional currency.
23 Legal form of entity and country of incorporation
Dryband One Limited is a private company limited by shares and incorporated in England.
24 Principal place of business
The address of the company's principal place of business and registered office is:
68 Butt Lane
Laceby
North East Lincolnshire
DN37 7AH
25 Profit of the parent company
As permitted by section 408 of the Companies Act 2006, the profit and loss account of the parent company is not presented as part of the financial statements. The parent company's profit for the financial year was £804,537 (2023: £506,228).
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