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REGISTERED NUMBER: 06787836 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

DROOTH LTD

DROOTH LTD (REGISTERED NUMBER: 06787836)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page |

Balance sheet | 1 |

Notes to the financial statements | 3 |

DROOTH LTD (REGISTERED NUMBER: 06787836)

BALANCE SHEET

31 DECEMBER 2024

| 2024 | 2023 |

| Notes | £ | £ | £ | £ |

Fixed assets

Intangible assets | 4 | - |  | - |  |

Tangible assets | 5 | 44,823 |  | 64,591 |  |

44,823 |  | 64,591 |  |

Current assets

Stocks | 677,340 |  | 403,086 |  |

Debtors | 6 | 161,354 |  | 320,203 |  |

Cash at bank | 68,281 |  | 57,075 |  |

906,975 |  | 780,364 |  |

Creditors

Amounts falling due within one year | 7 | 738,194 |  | 280,852 |  |

Net current assets | 168,781 |  | 499,512 |  |

Total assets less current liabilities | 213,604 |  | 564,103 |  |

Creditors

Amounts falling due after more than one year | 8 | - |  | (1,414 | ) |

Provisions for liabilities | 11 | - |  | (11,417 | ) |

Net assets | 213,604 |  | 551,272 |  |

Capital and reserves

Called up share capital | 12 | 101 |  | 101 |  |

Retained earnings | 213,503 |  | 551,171 |  |

Shareholders' funds | 213,604 |  | 551,272 |  |

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

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

DROOTH LTD (REGISTERED NUMBER: 06787836)

BALANCE SHEET - continued

31 DECEMBER 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 Statement of comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 September 2025 and were signed by:

Mr D Ross - Director

DROOTH LTD (REGISTERED NUMBER: 06787836)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1. | Statutory information

| Drooth Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 06787836. The registered office is 7 & 8 Church Street, Wimborne, Dorset. BH21 1JH, and business address is 17 Factory Road, Upton, Poole, Dorset, BH16 5SN.

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 represents income generated from the sale of shoes, through both retail and e commerce channels, net of VAT where applicable.

| Goodwill

| Goodwill, being the amount paid in connection with the acquisition of the business in 2009, has been fully amortised.

| 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.

| 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.

| Plant and machinery | - | 25% on reducing balance

| Fixtures and fittings | - | 25% on reducing balance

| Motor vehicles | - | 25% on reducing balance

| Computer equipment & e-commerce | - | 25% on reducing balance

| Stocks

| Stock and Work In Progress figures are taken from detailed stock tracking and valuation reports and are valued at the lower of cost and net realisable value, with adjustments made for obsolete stock where applicable.

| Taxation

| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

DROOTH LTD (REGISTERED NUMBER: 06787836)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

2. | Accounting policies - continued

| 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.

| Financial instruments

| Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

| At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

| Group accounts

| The financial statements present information about the company as an individual undertaking and not about its group. The company and its parent comprise a small-sized group. The group has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

3. | Employees and directors

| The average number of employees during the year was 16 (2023 - 14 ) .

4. | Intangible fixed assets

| Goodwill

£ |

| Cost

| At 1 January 2024

| and 31 December 2024 | 49,392 |  |

| Amortisation

| At 1 January 2024

| and 31 December 2024 | 49,392 |  |

| Net book value

| At 31 December 2024 | - |  |

| At 31 December 2023 | - |  |

DROOTH LTD (REGISTERED NUMBER: 06787836)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

5. | Tangible fixed assets

| Fixtures |  | Computer |

| Plant and |  | and |  | Motor |  | equipment |

| machinery |  | fittings |  | vehicles |  | & e-commerce |  | Totals

£ | £ | £ | £ | £ |

| Cost

| At 1 January 2024 | 47,694 |  | 39,027 |  | 128,126 |  | 27,651 |  | 242,498 |  |

| Additions | 1,132 |  | - |  | - |  | - |  | 1,132 |  |

| Disposals | - |  | - |  | (44,648 | ) | - |  | (44,648 | ) |

| At 31 December 2024 | 48,826 |  | 39,027 |  | 83,478 |  | 27,651 |  | 198,982 |  |

| Depreciation

| At 1 January 2024 | 34,721 |  | 24,693 |  | 102,239 |  | 16,254 |  | 177,907 |  |

| Charge for year | 3,526 |  | 3,584 |  | 4,981 |  | 2,849 |  | 14,940 |  |

| Eliminated on disposal | - |  | - |  | (38,688 | ) | - |  | (38,688 | ) |

| At 31 December 2024 | 38,247 |  | 28,277 |  | 68,532 |  | 19,103 |  | 154,159 |  |

| Net book value

| At 31 December 2024 | 10,579 |  | 10,750 |  | 14,946 |  | 8,548 |  | 44,823 |  |

| At 31 December 2023 | 12,973 |  | 14,334 |  | 25,887 |  | 11,397 |  | 64,591 |  |

| Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

| Motor

| vehicles

£ |

| Cost

| At 1 January 2024

| and 31 December 2024 | 36,999 |  |

| Depreciation

| At 1 January 2024 | 21,390 |  |

| Charge for year | 3,902 |  |

| At 31 December 2024 | 25,292 |  |

| Net book value

| At 31 December 2024 | 11,707 |  |

| At 31 December 2023 | 15,609 |  |

6. | Debtors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Trade debtors | 43,782 |  | 170,521 |  |

| Other debtors | 568 |  | - |  |

| Tax | - |  | 71,656 |  |

| Prepayments and accrued income | 117,004 |  | 78,026 |  |

161,354 |  | 320,203 |  |

DROOTH LTD (REGISTERED NUMBER: 06787836)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

7. | Creditors: amounts falling due within one year |

2024 | 2023 |

£ | £ |

| Bank loans and overdrafts | 60,216 |  | - |  |

| Other loans | 18,333 |  | - |  |

| Hire purchase contracts (see note 9) | 1,414 |  | 5,436 |  |

| Trade creditors | 462,881 |  | 132,344 |  |

| Amounts owed to group undertakings | 103,315 |  | 86,145 |  |

| Social security and other taxes | 3,486 |  | 6,646 |  |

| Pension creditor | 999 |  | 1,088 |  |

| Wages creditor | 476 |  | 419 |  |

| VAT | 34,466 |  | 4,066 |  |

| Other creditors | 42,952 |  | 2,649 |  |

| Accruals and deferred income | 9,656 |  | 42,059 |  |

738,194 |  | 280,852 |  |

8. | Creditors: amounts falling due after more than one year |

2024 | 2023 |

£ | £ |

| Hire purchase contracts (see note 9) | - |  | 1,414 |  |

9. | Leasing agreements

| Minimum lease payments fall due as follows:

| Hire purchase |

| contracts |

2024 | 2023 |

£ | £ |

| Net obligations repayable:

| Within one year | 1,414 |  | 5,436 |  |

| Between one and five years | - |  | 1,414 |  |

1,414 |  | 6,850 |  |

| Non-cancellable |

| operating leases |

2024 | 2023 |

£ | £ |

| Within one year | 193,000 |  | 193,000 |  |

| Between one and five years | 965,000 |  | 965,000 |  |

| In more than five years | 2,163,208 |  | 2,356,208 |  |

3,321,208 |  | 3,514,208 |  |

DROOTH LTD (REGISTERED NUMBER: 06787836)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 DECEMBER 2024

10. | Secured debts

| The following secured debts are included within creditors:

2024 | 2023 |

£ | £ |

| Hire purchase contracts | 1,414 |  | 6,850 |  |

| All monies due to or to become due to HSBC UK Bank PLC are secured by way of the following charges:

| - Fixed and floating charges dated 12 December 2019.

| - General pledge dated 9 January 2020

| - Fixed and floating charges dated 31 January 2020

| - Legal assignment of contract monies dated 3 November 2023

| Amounts owing under finance lease and hire purchase agreements are secured against the assets to which they relate.

11. | Provisions for liabilities

2024 | 2023 |

£ | £ |

| Deferred tax | - |  | 11,417 |  |

| Deferred |

| tax |

£ |

| Balance at 1 January 2024 | 11,417 |  |

| Credit to Income statement during year | (11,417 | ) |

| Balance at 31 December 2024 | - |  |

12. | Called up share capital

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 2024 | 2023 |

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

| 1 | Ordinary A | £1 | 1 |  | 1 |  |

101 |  | 101 |  |

13. | Ultimate controlling party

| Mr D Ross holds 51% of the voting share capital of the parent company, and is therefore deemed to have ultimate control.