REGISTERED NUMBER: 15325849 (England and Wales)

Unaudited Financial Statements

for the Period

4 December 2023 to 31 December 2024

for

Drop-In Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr H C Wilkinson

REGISTERED OFFICE:

91 Rendlesham Road

Hackney

London

E5 8PJ

REGISTERED NUMBER:

15325849 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Tangible assets

5

495,436

CURRENT ASSETS

Stocks

500

Debtors

6

48,021

Cash at bank

47,503

96,024

CREDITORS

Amounts falling due within one year

7

797,424

NET CURRENT LIABILITIES

(701,400

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(205,964

)

CREDITORS

Amounts falling due after more than one year

8

86,600

NET LIABILITIES

(292,564

)

CAPITAL AND RESERVES

Called up share capital

11

1

Retained earnings

(292,565

)

SHAREHOLDERS' FUNDS

(292,564

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 September 2025 and were signed by:

Mr H C Wilkinson - Director

1.	STATUTORY INFORMATION

Drop-In Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Long leasehold

-

Over period of the lease

Improvements to property

-

Over period of the lease

Fixtures and fittings

-

20% straight line and 10% straight line

Computer equipment

-

33% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern

The company has retained losses of £292,565. It also has net current liabilities of £701,400 and net liabilities of £292,564. The company cannot continue to make losses of this significance while still meeting its obligations as they fall due.

The company is reliant on the continuing financial support of its creditors and while there are no reasons to doubt that this support will continue, inherently there can be no certainty in relation to these matters. On this basis, and having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

Exceptional items

The company discloses as exceptional items material items which derive from events or transactions that fall within the ordinary activities of the reporting entity and which individually, or, if of a similar type, in aggregate, it is considered need to be disclosed by virtue of their size or incidence if the financial statements are to give a true and fair view.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 .

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Long

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

£

£

£

£

COST

Additions

16,468

332,883

185,598

10,256

545,205

At 31 December 2024

16,468

332,883

185,598

10,256

545,205

DEPRECIATION

Charge for period

1,098

22,191

23,058

3,422

49,769

At 31 December 2024

1,098

22,191

23,058

3,422

49,769

NET BOOK VALUE

At 31 December 2024

15,370

310,692

162,540

6,834

495,436

Fixed assets, included in the above, which are held under finance leases are as follows:

Fixtures

and

fittings

£

COST

Additions

140,609

At 31 December 2024

140,609

DEPRECIATION

Charge for period

14,061

At 31 December 2024

14,061

NET BOOK VALUE

At 31 December 2024

126,548

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

2,736

Other debtors

45,285

48,021

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Finance leases (see note 9)

25,980

Trade creditors

29,986

Amounts owed to group undertakings

698,782

Taxation and social security

10,615

Other creditors

32,061

797,424

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Finance leases (see note 9)

86,600

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance

leases

£

Net obligations repayable:

Within one year

25,980

Between one and five years

86,600

112,580

Non-cancellable

operating leases

£

Within one year

75,610

Between one and five years

190,000

In more than five years

432,055

697,665

10.	SECURED DEBTS

The following secured debts are included within creditors:

£

Finance leases

112,580

The finance lease contracts are secured over the assets to which they relate.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

10,000

Ordinary

£0.0001

1

10,000 Ordinary shares of £0.0001 each were allotted and fully paid for cash at par during the period.

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Drop-In Holdco Ltd.

The ultimate controlling party is Mr H C Wilkinson.