2022-06-012023-05-312023-05-31false13377155DRIVERLY COMPANY 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DRIVERLY COMPANY LIMITED

Registered Number
13377155
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2023

DRIVERLY COMPANY LIMITED
Company Information
for the year from 1 June 2022 to 31 May 2023

Directors

ALINIA, Mohammad
ALONSO CACHEIRO, Nestor
HUGGINS, Mark
KIA, Armin

Registered Address

10 Churchill Way
Cardiff
CF10 2HE

Registered Number

13377155 (England and Wales)
DRIVERLY COMPANY LIMITED
Balance Sheet as at
31 May 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets551,37414,257
51,37414,257
Current assets
Debtors652,6432,656
Cash at bank and on hand175,46541,258
228,10843,914
Creditors amounts falling due within one year7(28,150)(3,640)
Net current assets (liabilities)199,95840,274
Total assets less current liabilities251,33254,531
Net assets251,33254,531
Capital and reserves
Called up share capital13581
Share premium599,94574,994
Profit and loss account(348,748)(20,544)
Shareholders' funds251,33254,531
The financial statements were approved and authorised for issue by the Board of Directors on 19 October 2023, and are signed on its behalf by:
ALONSO CACHEIRO, Nestor
Director
Registered Company No. 13377155
DRIVERLY COMPANY LIMITED
Notes to the Financial Statements
for the year ended 31 May 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Intangible assets policy
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Going concern
The accounts have been prepared on a going concern basis which assumes that the company will be able to continue to meet its financial obligations for a period of at least 12 months from the date of this report. In deciding that this basis was appropriate, the directors considered its cash flow forecasts and the likelihood of securing new investment if and as required.
4.Employee information

20232022
Average number of employees during the year10
5.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 2214,25714,257
Additions37,11737,117
At 31 May 2351,37451,374
Net book value
At 31 May 2351,37451,374
At 31 May 2214,25714,257
6.Debtors

2023

2022

££
Trade debtors / trade receivables2,28175
Other debtors48,3342,581
Prepayments and accrued income2,028-
Total52,6432,656
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
7.Creditors within one year

2023

2022

££
Trade creditors / trade payables15,497-
Taxation and social security6,054-
Accrued liabilities and deferred income6,5993,640
Total28,1503,640
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.