Registration number:
No Drama Holdings Limited
for the Year Ended 31 July 2024
No Drama Holdings Limited
Contents
Company Information |
|
Directors' Report |
|
Statement of Directors' Responsibilities |
|
Accountants' Report |
|
Consolidated Balance Sheet |
|
Balance Sheet |
|
Consolidated Statement of Changes in Equity |
|
Statement of Changes in Equity |
|
Notes to the Financial Statements |
No Drama Holdings Limited
Company Information
Directors |
Mr Shaun Atherton Mr James Michael Jones Mr Matthew Turnbull |
Registered office |
|
Accountants |
|
No Drama Holdings Limited
Directors' Report for the Year Ended 31 July 2024
The directors present their report and the for the year ended 31 July 2024.
Directors of the group
The directors who held office during the year were as follows:
Small companies provision statement
This report has 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.
Approved and authorised by the
......................................... |
No Drama Holdings Limited
Statement of Directors' Responsibilities
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 group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
• |
select suitable accounting policies and apply them consistently; |
• |
make judgements and accounting 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; and |
• |
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 group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and 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 group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
No Drama Holdings Limited
for the Year Ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of No Drama Holdings Limited for the year ended 31 July 2024 as set out on pages from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of No Drama Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of No Drama Holdings Limited and state those matters that we have agreed to state to the Board of Directors of No Drama Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than No Drama Holdings Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that No Drama Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of No Drama Holdings Limited. You consider that No Drama Holdings Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of No Drama Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Jackson House
Sibson Road
Sale
Manchester
M33 7RR
No Drama Holdings Limited
(Registration number: 13238317)
Consolidated Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Intangible assets |
|
|
|
Tangible assets |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
Provisions for liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
1,258,680 |
1,258,680 |
|
Revaluation reserve |
1,199,546 |
1,065,800 |
|
Retained earnings |
1,288,787 |
1,294,128 |
|
Equity attributable to owners of the company |
3,747,013 |
3,618,608 |
|
Shareholders' funds |
3,747,013 |
3,618,608 |
No Drama Holdings Limited
(Registration number: 13238317)
Consolidated 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 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.
Approved and authorised by the
......................................... |
No Drama Holdings Limited
(Registration number: 13238317)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investments |
|
|
|
Current assets |
|||
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
1,258,680 |
1,258,680 |
|
Retained earnings |
967,855 |
819,939 |
|
Shareholders' funds |
2,226,535 |
2,078,619 |
The company made a profit after tax for the financial year of £177,916
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 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.
Approved and authorised by the
......................................... |
No Drama Holdings Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 July 2024
Equity attributable to the parent company
Share capital |
Revaluation reserve |
Retained earnings |
Total |
Total equity |
|
At 1 August 2023 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Other comprehensive income |
- |
|
- |
|
|
Total comprehensive income |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
( |
At 31 July 2024 |
|
|
|
|
|
Share capital |
Revaluation reserve |
Retained earnings |
Total |
Total equity |
|
At 1 August 2022 |
|
|
|
|
|
Profit for the year |
- |
- |
|
|
|
Other comprehensive income |
- |
|
- |
|
|
Total comprehensive income |
- |
|
|
|
|
Dividends |
- |
- |
( |
( |
( |
At 31 July 2023 |
1,258,680 |
1,065,800 |
1,294,128 |
3,618,608 |
3,618,608 |
No Drama Holdings Limited
Statement of Changes in Equity for the Year Ended 31 July 2024
Share capital |
Retained earnings |
Total |
|
At 1 August 2023 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 July 2024 |
|
|
|
Share capital |
Retained earnings |
Total |
|
At 1 August 2022 |
|
|
|
Profit for the year |
- |
|
|
Dividends |
- |
( |
( |
At 31 July 2023 |
1,258,680 |
819,939 |
2,078,619 |
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 July 2024.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
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.
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
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 group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the group.
The group 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 group'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.
Foreign currency transactions and balances
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 group operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated 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.
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
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:
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 |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Asset class |
Amortisation method and rate |
Goodwill |
10% Straight Line Basis |
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
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 group 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 group 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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
No Drama Holdings Limited
Notes to the 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 group’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 group 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.
Staff costs |
2024 |
2023 |
|
The average number of persons employed by the group (including directors) during the year |
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
2024 |
2023 |
|
Remuneration |
|
|
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Intangible assets |
Group
Goodwill |
Total |
|
Cost or valuation |
||
Acquired through business combinations |
|
|
At 31 July 2024 |
|
|
Amortisation |
||
At 1 August 2023 |
|
|
Amortisation charge |
|
|
At 31 July 2024 |
|
|
Carrying amount |
||
At 31 July 2024 |
|
|
At 31 July 2023 |
|
|
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Tangible assets |
Group
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
Cost or valuation |
||||
At 1 August 2023 |
|
|
|
|
Revaluations |
- |
|
- |
|
Additions |
|
|
|
|
Disposals |
- |
( |
- |
( |
At 31 July 2024 |
|
|
|
|
Depreciation |
||||
At 1 August 2023 |
|
|
|
|
Charge for the year |
|
|
|
|
Eliminated on disposal |
- |
( |
- |
( |
At 31 July 2024 |
|
|
|
|
Carrying amount |
||||
At 31 July 2024 |
|
|
|
|
At 31 July 2023 |
|
|
|
|
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 Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Investments |
Group
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
|
2024 |
2023 |
|||
Subsidiary undertakings |
||||
|
108 Broadway,
|
|
|
|
England and Wales |
Company
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 August 2023 |
|
Provision |
|
Carrying amount |
|
At 31 July 2024 |
|
At 31 July 2023 |
|
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Debtors |
Group |
Company |
||||
Note |
2024 |
2023 |
2024 |
2023 |
|
Trade debtors |
|
|
- |
- |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
- |
|
- |
|
Other debtors |
|
|
- |
- |
|
Prepayments |
|
|
- |
- |
|
|
|
|
- |
Cash and cash equivalents |
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Cash on hand |
|
|
|
|
Cash at bank |
|
|
|
|
Short-term deposits |
|
|
- |
- |
|
|
|
|
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Creditors |
Group |
Company |
||||
Note |
2024 |
2023 |
2024 |
2023 |
|
Due within one year |
|||||
Loans and borrowings |
|
|
- |
- |
|
Trade creditors |
|
|
- |
- |
|
Amounts due to related parties |
|
|
|
|
|
Social security and other taxes |
|
|
- |
- |
|
Outstanding defined contribution pension costs |
|
|
- |
- |
|
Other payables |
|
|
|
|
|
Accruals |
|
|
|
|
|
Income tax liability |
149,358 |
101,039 |
- |
- |
|
|
|
|
|
||
Due after one year |
|||||
Loans and borrowings |
|
|
- |
- |
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
No Drama Holdings Limited
Notes to the Financial Statements for the Year Ended 31 July 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
10 |
|
10 |
|
|
3 |
|
3 |
|
|
1,258,666 |
|
1,258,666 |
|
|
|
|
Loans and borrowings |
Non-current loans and borrowings
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Bank borrowings |
|
|
- |
- |
Hire purchase contracts |
|
|
- |
- |
|
|
- |
- |
Current loans and borrowings
Group |
Company |
|||
2024 |
2023 |
2024 |
2023 |
|
Bank borrowings |
|
|
- |
- |
Hire purchase contracts |
|
|
- |
- |
|
|
- |
- |