2022-07-012023-06-302023-06-30false11105813DRIVE TEAM SERVICES 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DRIVE TEAM SERVICES LIMITED

Registered Number
11105813
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

DRIVE TEAM SERVICES LIMITED
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

DUNGEY, Ryan

Registered Address

Newminster House
27-29 Baldwin Street
Bristol
BS1 1LT

Registered Number

11105813 (England and Wales)
DRIVE TEAM SERVICES LIMITED
Balance Sheet as at
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3-23,724
-23,724
Current assets
Debtors22,02588,903
Cash at bank and on hand16,33494,668
38,359183,571
Creditors amounts falling due within one year5(26,164)(144,618)
Net current assets (liabilities)12,19538,953
Total assets less current liabilities12,19562,677
Creditors amounts falling due after one year6-(18,818)
Provisions for liabilities7-(1,706)
Net assets12,19542,153
Capital and reserves
Called up share capital11
Profit and loss account12,19442,152
Shareholders' funds12,19542,153
The financial statements were approved and authorised for issue by the Director on 29 March 2024, and are signed on its behalf by:
DUNGEY, Ryan
Director
Registered Company No. 11105813
DRIVE TEAM SERVICES LIMITED
Notes to the Financial Statements
for the year ended 30 June 2023

1.Accounting policies
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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The company ceased trading on 30 June 2023 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have been made for the future costs of terminating the business where such costs were committed at the reporting date
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2.Average number of employees

20232022
Average number of employees during the year07
3.Tangible fixed assets

Plant & machinery

Vehicles

Total

£££
Cost or valuation
At 01 July 2214,21215,74229,954
Disposals(14,212)(15,742)(29,954)
Depreciation and impairment
At 01 July 223,8432,3876,230
On disposals(3,843)(2,387)(6,230)
Net book value
At 30 June 23---
At 30 June 2210,36913,35523,724
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables11,81075,610
Other debtors695-
Prepayments and accrued income9,52013,293
Total22,02588,903
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,45611,408
Bank borrowings and overdrafts18,81987,611
Taxation and social security-27,073
Other creditors3602,332
Accrued liabilities and deferred income4,52916,194
Total26,164144,618
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts-18,818
Total-18,818
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-1,706
Total-1,706
8.Controlling party
The controlling party is Ryan Dungey.
9.Further information regarding the company's financial position
The company ceased trade on 30 June 2023.
10.Change in reporting period and impact on comparability
The current period is a 12 month period, whereas the comparative period represents an 18 month period.