Driftworks Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 05278259

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		178,354		193,971
Tangible Assets	5		144,555		116,484

			322,909		310,455
CURRENT ASSETS
Stocks	6	635,000		450,000
Debtors	7	66,514		76,282
Cash at bank and in hand		63,049		51,200

		764,563		577,482
Creditors: Amounts Falling Due Within One Year	8	(392,200 )		(277,325 )

NET CURRENT ASSETS (LIABILITIES)			372,363		300,157

TOTAL ASSETS LESS CURRENT LIABILITIES			695,272		610,612

Creditors: Amounts Falling Due After More Than One Year	9		(38,252 )		(23,357 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,027 )		(11,982 )

NET ASSETS			636,993		575,273

CAPITAL AND RESERVES
Called up share capital	11		100		100
Profit and Loss Account			636,893		575,173

SHAREHOLDERS' FUNDS			636,993		575,273

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Driftworks Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr James Robinson

Director

24 December 2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Driftworks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05278259 . The registered office is Unit 7 Tyseley Industrial Estate, Seeleys Road, Tyseley, Birmingham, B11 2LQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are capitalised software. It is amortised to profit and loss account over its estimated economic life of five years.

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% reducing balance
Motor Vehicles	25% reducing balance
Computer Equipment	40% reducing balance

2.5. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.6. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Driftworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3. Average Number of Employees

Average number of employees, including directors, during the year was:

	2025		2024
	15		18

	15		18

4. Intangible Assets

	Other
	£
Cost
As at 1 April 2024	270,482
Additions	48,099

As at 31 March 2025	318,581

Amortisation
As at 1 April 2024	76,511
Provided during the period	63,716

As at 31 March 2025	140,227

Net Book Value
As at 31 March 2025	178,354

As at 1 April 2024	193,971

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	170,027	144,996	49,812	364,835
Additions	-	64,083	759	64,842
Disposals	-	(51,890 )	-	(51,890 )

As at 31 March 2025	170,027	157,189	50,571	377,787

...CONTINUED

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Driftworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Depreciation
As at 1 April 2024	136,660	77,977	33,714	248,351
Provided during the period	6,673	13,420	3,339	23,432
Disposals	-	(38,551 )	-	(38,551 )

As at 31 March 2025	143,333	52,846	37,053	233,232

Net Book Value
As at 31 March 2025	26,694	104,343	13,518	144,555

As at 1 April 2024	33,367	67,019	16,098	116,484

6. Stocks

	2025	2024
	£	£
Stock	635,000	450,000

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	58,767	70,051
Prepayments and accrued income	6,651	6,231
Other debtors	1,096	-

	66,514	76,282

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	23,728	4,270
Trade creditors	208,705	151,009
Bank loans and overdrafts	-	447
Corporation tax	79,733	86,778
Other taxes and social security	9,267	9,676
VAT	70,767	24,067
Accruals and deferred income	-	512
Directors' loan accounts	-	566

	392,200	277,325

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	38,252	23,357

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Driftworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	23,728	4,270
Later than one year and not later than five years	38,252	23,357

	61,980	27,627

	61,980	27,627

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

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