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Registration number: 07710301

No Drama Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

No Drama Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

No Drama Ltd

Company Information

Directors

Mr James Michael Jones

Mr Matthew Turnbull

Mr Shaun Atherton

Registered office

108 Broadway
Media City
Salford
M50 2UW

Accountants

The Moffatts Partnership LLP
Suite 1.1, First Floor
Jackson House
Sibson Road
Sale
M33 7RR

 

No Drama Ltd

(Registration number: 07710301)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,499,261

4,822,642

Current assets

 

Debtors

5

709,182

539,588

Cash at bank and in hand

 

53,787

257,591

 

762,969

797,179

Creditors: Amounts falling due within one year

6

(1,764,471)

(1,425,845)

Net current liabilities

 

(1,001,502)

(628,666)

Total assets less current liabilities

 

4,497,759

4,193,976

Creditors: Amounts falling due after more than one year

6

(517,003)

(813,984)

Provisions for liabilities

(1,166,629)

(749,143)

Net assets

 

2,814,127

2,630,849

Capital and reserves

 

Called up share capital

7

1,100

1,100

Revaluation reserve

1,199,546

1,065,800

Retained earnings

1,613,481

1,563,949

Shareholders' funds

 

2,814,127

2,630,849

 

No Drama Ltd

(Registration number: 07710301)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 April 2025 and signed on its behalf by:
 

.........................................
Mr Shaun Atherton
Director

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
108 Broadway
Media City
Salford
M50 2UW

These financial statements were authorised for issue by the Board on 23 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The directors have a reasonable expectation that the company will have adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis on preparing its financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants are recognised under the accrual model. Income is recognised in the same period that the related expenditure the grant is intended to compensate is incurred.

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are accounted for based on the class of assets.

Long leasehold land and buildings, Office equipment, Motor Vehicles are stated in the balance sheet under the cost mode and therefore at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Plant and Machinery are stated in the balance sheet under the revaluation model and therefore at the asset’s fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Revaluations shall be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Asset class

Depreciation method and rate

Plant and Machinery

10% & 16.67% Reducing Balance Basis

Office Equipment

25% Reducing Balance Basis

Motor Vehicles

25% Reducing Balance Basis

Leasehold improvements

10% Straight Line Basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 16).

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

198,035

7,733,153

122,138

124,030

8,177,356

Revaluations

-

178,328

-

-

178,328

Additions

230

1,106,436

22,054

30,232

1,158,952

Disposals

-

(31,150)

-

-

(31,150)

At 31 July 2024

198,265

8,986,767

144,192

154,262

9,483,486

Depreciation

At 1 August 2023

65,981

3,143,351

55,777

89,605

3,354,714

Charge for the year

19,827

604,819

22,105

9,075

655,826

Eliminated on disposal

-

(26,315)

-

-

(26,315)

At 31 July 2024

85,808

3,721,855

77,882

98,680

3,984,225

Carrying amount

At 31 July 2024

112,457

5,264,912

66,310

55,582

5,499,261

At 31 July 2023

132,054

4,589,802

66,361

34,425

4,822,642

Included within the net book value of land and buildings above is £112,457 (2023 - £132,054) in respect of long leasehold land and buildings.
 

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

609,358

478,404

Prepayments

98,674

59,185

Other debtors

1,150

1,999

 

709,182

539,588

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

962,958

821,226

Trade creditors

 

381,603

236,454

Amounts owed to group undertakings and undertakings in which the company has a participating interest

14,000

-

Taxation and social security

 

288,209

273,006

Accruals and deferred income

 

17,050

6,536

Other creditors

 

100,651

88,623

 

1,764,471

1,425,845

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

517,003

813,984

 

No Drama Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,100

1,100

1,100

1,100

       

8

Parent and ultimate parent undertaking

The company's immediate parent is No Drama Holdings Limited (Company 13238317), incorporated in England & Wales.

 The most senior parent entity producing publicly available financial statements is No Drama Holdings Limited (Company 13238317). These financial statements are available upon request from Companies House

 

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

7,334

88,937

Hire purchase contracts

509,669

725,047

517,003

813,984

Current loans and borrowings

2024
£

2023
£

Bank borrowings

76,232

58,854

Hire purchase contracts

886,726

762,372

962,958

821,226