Company No: 15988605 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	31.03.2026
		£
Current assets
Debtors	3	143,134
Cash at bank and in hand		101,178
		244,312
Creditors: amounts falling due within one year	4	( 139,333)
Net current assets		104,979
Total assets less current liabilities		104,979
Net assets		104,979
Capital and reserves
Called-up share capital	5	100
Profit and loss account		104,879
Total shareholder's funds		104,979

For the financial period ending 31 March 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Drop Everything and Read Limited (registered number: 15988605) were approved and authorised for issue by the Board of Directors on 18 May 2026. They were signed on its behalf by:

A J Adams Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Drop Everything and Read Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Shuteleigh, Wellington, TA21 8PG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company was incorporated on the 1 October 2024. The reporting period length is therefore 1 October 2024 to 31 March 2026 for the companies first financial period.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	Period from 01.10.2024 to 31.03.2026
	Number
Monthly average number of persons employed by the Company during the period, including directors	3

3. Debtors

	31.03.2026
	£
Trade debtors	81,759
Amounts owed by directors	55,033
Prepayments	512
VAT recoverable	5,830
	143,134

4. Creditors: amounts falling due within one year

	31.03.2026
	£
Accruals and deferred income	67,694
Taxation and social security	36,536
Other creditors	35,103
	139,333

5. Called-up share capital

	31.03.2026
	£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100

On the 1 October 2024, the company incorporated with 100 ordinary shares issued at Par.

6. Related party transactions

Transactions with the entity's directors

	31.03.2026
	£
Amounts owed by the director at the year end	55,033

Interest has been charged on overdrawn balances at the HMRC approved rate which changed from 2.25% to 3.75% on the 6 April 2025. There is no set repayment date.