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REGISTERED NUMBER: 09755282 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Drip Hacks Limited

Drip Hacks Limited (Registered number: 09755282)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Drip Hacks Limited (Registered number: 09755282)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 7,833
Tangible assets 5 122,430 160,141
122,430 167,974

CURRENT ASSETS
Stocks 431,977 300,000
Debtors 6 55,473 147,144
Cash at bank 108,194 120,505
595,644 567,649
CREDITORS
Amounts falling due within one year 7 234,662 334,166
NET CURRENT ASSETS 360,982 233,483
TOTAL ASSETS LESS CURRENT LIABILITIES 483,412 401,457

CREDITORS
Amounts falling due after more than one year 8 (70,000 ) (122,500 )

PROVISIONS FOR LIABILITIES (25,263 ) -
NET ASSETS 388,149 278,957

CAPITAL AND RESERVES
Called up share capital 5 5
Retained earnings 388,144 278,952
SHAREHOLDERS' FUNDS 388,149 278,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Drip Hacks Limited (Registered number: 09755282)

Balance Sheet - continued
30 September 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 January 2025 and were signed on its behalf by:





E Smith - Director


Drip Hacks Limited (Registered number: 09755282)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Drip Hacks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09755282

Registered office: Unit 4 Riverdane Road
Eaton Bank Trading Estate
Congleton
CW12 1PN

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced.

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.

Website Costs are being amortised evenly over their estimated useful life of five years.

Website costs have now been fully amortised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Stocks 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 Profit and Loss Account, 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.


Drip Hacks Limited (Registered number: 09755282)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 11 (2023 - 18 ) .

4. INTANGIBLE FIXED ASSETS
Website
Costs
£   
COST
At 1 October 2023
and 30 September 2024 47,000
AMORTISATION
At 1 October 2023 39,167
Amortisation for year 7,833
At 30 September 2024 47,000
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 7,833

Drip Hacks Limited (Registered number: 09755282)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 October 2023 299,690 85,991 18,521 404,202
Additions 463 - 935 1,398
At 30 September 2024 300,153 85,991 19,456 405,600
DEPRECIATION
At 1 October 2023 169,740 60,479 13,842 244,061
Charge for year 32,604 5,102 1,403 39,109
At 30 September 2024 202,344 65,581 15,245 283,170
NET BOOK VALUE
At 30 September 2024 97,809 20,410 4,211 122,430
At 30 September 2023 129,950 25,512 4,679 160,141

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 32,861 143,223
Other debtors 22,612 3,921
55,473 147,144

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 52,500 52,500
Trade creditors 34,323 22,244
Amounts owed to associates 6,768 72,944
Taxation and social security 20,904 39,387
Other creditors 120,167 147,091
234,662 334,166

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 70,000 122,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 122,500 175,000

The bank has fixed and floating charges over the property or undertakings of the company.

Drip Hacks Limited (Registered number: 09755282)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. OTHER FINANCIAL COMMITMENTS

The financial commitments, which are not included in the balance sheet amount to £21,517 (2023: £5,692). These financial commitments represent the amount of payments due under various operating leases.