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Company registration number: 12257680
DRY ICE NATIONWIDE LIMITED
Unaudited filleted financial statements
31 October 2022
DRY ICE NATIONWIDE LIMITED
Contents
Statement of financial position
Notes to the financial statements
DRY ICE NATIONWIDE LIMITED
Statement of financial position
31 October 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 266,801 76,495
_______ _______
266,801 76,495
Current assets
Debtors 6 174,113 136,948
Cash at bank and in hand 207,260 44,705
_______ _______
381,373 181,653
Creditors: amounts falling due
within one year 7 ( 368,731) ( 213,894)
_______ _______
Net current assets/(liabilities) 12,642 ( 32,241)
_______ _______
Total assets less current liabilities 279,443 44,254
Creditors: amounts falling due
after more than one year 8 ( 24,507) ( 43,915)
_______ _______
Net assets 254,936 339
_______ _______
Capital and reserves
Called up share capital 9 200 200
Profit and loss account 254,736 139
_______ _______
Shareholders funds 254,936 339
_______ _______
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 12 November 2023 , and are signed on behalf of the board by:
Jagruti Acharya
Director
Company registration number: 12257680
DRY ICE NATIONWIDE LIMITED
Notes to the financial statements
Year ended 31 October 2022
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 66 Chertsey Road, Ashford, Middlesex, TW15 1SG.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2021: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 November 2021 65,687 3,073 26,100 94,860
Additions 122,188 42,798 57,387 222,373
Disposals - - ( 13,304) ( 13,304)
_______ _______ _______ _______
At 31 October 2022 187,875 45,871 70,183 303,929
_______ _______ _______ _______
Depreciation
At 1 November 2021 14,138 638 3,589 18,365
Charge for the year 13,679 1,278 3,806 18,763
_______ _______ _______ _______
At 31 October 2022 27,817 1,916 7,395 37,128
_______ _______ _______ _______
Carrying amount
At 31 October 2022 160,058 43,955 62,788 266,801
_______ _______ _______ _______
At 31 October 2021 51,549 2,435 22,511 76,495
_______ _______ _______ _______
6. Debtors
2022 2021
£ £
Trade debtors 130,543 112,978
Other debtors 43,570 23,970
_______ _______
174,113 136,948
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 10,610 -
Trade creditors 317,315 129,261
Corporation tax 18,278 5,175
Social security and other taxes 10,587 2,547
Other creditors 11,941 76,911
_______ _______
368,731 213,894
_______ _______
8. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 24,507 43,915
_______ _______
9. Called up share capital
Issued, called up and fully paid
2022 2021
No £ No £
Ordinary A shares shares of £ 1.00 each 100 100 100 100
Ordinary B shares shares of £ 1.00 each 100 100 100 100
_______ _______ _______ _______
200 200 200 200
_______ _______ _______ _______
10. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Jagruti Acharya 4,145 7,000 11,145
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Jagruti Acharya 5,145 ( 1,000) 4,145
_______ _______ _______