Company Registration No. 02964238 (England and Wales)
Drypool Freight Services Limited
Unaudited accounts
for the year ended 31 October 2022
Drypool Freight Services Limited
Unaudited accounts
Contents
Drypool Freight Services Limited
Company Information
for the year ended 31 October 2022
Director
Mr Steve Youngman
Company Number
02964238 (England and Wales)
Registered Office
Eclipse House, Clay Street
Chamberlain Road
Hull
HU8 8HA
Accountants
Kendall Accountancy Services Limited
2 Exeter Street
New Village Road
Cottingham
East Yorkshire
HU16 4LU
Drypool Freight Services Limited
Statement of financial position
as at 31 October 2022
Tangible assets
2,850
10,207
Cash at bank and in hand
34,036
299
Creditors: amounts falling due within one year
(34,142)
(70,704)
Net current assets
142,040
161,158
Total assets less current liabilities
144,890
171,365
Creditors: amounts falling due after more than one year
(22,833)
(60,481)
Provisions for liabilities
Net assets
121,516
108,316
Called up share capital
2
2
Profit and loss account
121,514
108,314
Shareholders' funds
121,516
108,316
For the year ending 31 October 2022 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 June 2023 and were signed on its behalf by
Mr Steve Youngman
Director
Company Registration No. 02964238
Drypool Freight Services Limited
Notes to the Accounts
for the year ended 31 October 2022
Drypool Freight Services Limited is a private company, limited by shares, registered in England and Wales, registration number 02964238. The registered office is Eclipse House, Clay Street , Chamberlain Road , Hull , HU8 8HA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% wdv
Computer equipment
33% cost
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Expenditure on research and development is written off in the year in which it is incurred.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Drypool Freight Services Limited
Notes to the Accounts
for the year ended 31 October 2022
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2021
8,500
13,500
22,000
At 31 October 2022
8,500
13,500
22,000
At 1 November 2021
5,313
6,480
11,793
Charge for the year
1,046
6,311
7,357
At 31 October 2022
6,359
12,791
19,150
At 31 October 2022
2,141
709
2,850
At 31 October 2021
3,187
7,020
10,207
Amounts falling due within one year
Trade debtors
56,199
80,397
Amounts due from group undertakings etc.
71,947
151,166
Accrued income and prepayments
14,000
-
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
10,000
9,351
Trade creditors
16,023
55,589
Taxes and social security
7,758
4,874
Loans from directors
361
890
7
Creditors: amounts falling due after more than one year
2022
2021
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Drypool Freight Services Limited
Notes to the Accounts
for the year ended 31 October 2022
The company is a wholly owned subsidary of SEY Transport Limited, a company registered in England & Wales, company number 03972630.
10
Average number of employees
During the year the average number of employees was 2 (2021: 2).
