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Registered number: 02559058









DROPPING WELL VILLAGE LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
DROPPING WELL VILLAGE LIMITED
REGISTERED NUMBER: 02559058

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,052,880
1,079,653

Cash at bank and in hand
  
1,923
5,433

  
1,054,803
1,085,086

Creditors: amounts falling due within one year
 5 
(12,693)
(30,174)

Net current assets
  
 
 
1,042,110
 
 
1,054,912

Total assets less current liabilities
  
1,042,110
1,054,912

Creditors: amounts falling due after more than one year
 6 
(14,808)
(24,945)

  

Net assets
  
1,027,302
1,029,967


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
1,027,202
1,029,867

  
1,027,302
1,029,967


Page 1

 
DROPPING WELL VILLAGE LIMITED
REGISTERED NUMBER: 02559058

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.


The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr C H Barton Jnr
Director

Date: 3 June 2025

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
DROPPING WELL VILLAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Dropping Well Village Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is Offices G12-G16 City Lab, 4-6 Dalton Square, Lancaster, LA1 1PP.
The principal activity of the Company continued to be that of a non-trading company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The Company's functional and presentational currency is Pounds Sterling.
The level of rounding is to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company's financial statements have been prepared under the going concern basis. The Directors believe that the going concern basis is appropriate for the forseeable future. The company will receive ongoing support from the director and connected companies.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
DROPPING WELL VILLAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objectives evidence of impairment is found an impairment loss is recognised in the Statement of Comprehensive Income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Other debtors
1,052,880
1,079,653



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,140
9,771

Trade creditors
787
-

Corporation tax
-
19,243

Accruals and deferred income
1,766
1,160

12,693
30,174


Page 4

 
DROPPING WELL VILLAGE LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,808
24,945



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,140
9,771

Amounts falling due 1-2 years

Bank loans
10,397
10,140

Amounts falling due 2-5 years

Bank loans
4,411
14,805

24,948
34,716



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Related party transactions

During the year the Company continued its loans with connected companies. The balance due from the connected companies at the year end was £1,052,880 (2023 - £1,079,653). The balance is interest free and repayable on demand.


10.


Controlling party

The controlling party of the Company is Barton Park Homes Limited by virtue of its 100% shareholding in Dropping Well Village Limited.
The Ultimate Controlling Party is Mr C H Barton by virtue of his 48% shareholding in Batron Park Homes Limited.


Page 5