2023-01-012023-12-312023-12-31false09699499DIRECT SHIPPING INTERNATIONAL 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DIRECT SHIPPING INTERNATIONAL LIMITED

Registered Number
09699499
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

DIRECT SHIPPING INTERNATIONAL LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

YANG, Yong

Registered Address

Office Building Allens Farm Partners Wivenhoe Road
Crockleford Heath
Colchester
CO7 7BN

Registered Number

09699499 (England and Wales)
DIRECT SHIPPING INTERNATIONAL LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets312,854-
12,854-
Current assets
Debtors4,5836,898719,069
Current asset investments231,000231,000
Cash at bank and on hand1,081,024570,022
2,148,9221,520,091
Creditors amounts falling due within one year6(1,614,678)(1,086,258)
Net current assets (liabilities)534,244433,833
Total assets less current liabilities547,098433,833
Creditors amounts falling due after one year7-(35,833)
Net assets547,098398,000
Capital and reserves
Called up share capital11
Profit and loss account547,097397,999
Shareholders' funds547,098398,000
The financial statements were approved and authorised for issue by the Director on 23 September 2024, and are signed on its behalf by:
YANG, Yong
Director
Registered Company No. 09699499
DIRECT SHIPPING INTERNATIONAL LIMITED
Notes to the Financial Statements
for the year ended 31 December 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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery3
Office Equipment3
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20232022
Average number of employees during the year44
3.Tangible fixed assets

Total

£
Cost or valuation
Additions15,324
At 31 December 2315,324
Depreciation and impairment
Charge for year2,470
At 31 December 232,470
Net book value
At 31 December 2312,854
At 31 December 22-
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables781,974626,328
Other debtors36,49474,741
Prepayments and accrued income8,4308,000
Total826,898709,069
5.Debtors: amounts due after one year

2023

2022

££
Other debtors10,00010,000
Total10,00010,000
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables1,354,881858,757
Taxation and social security26,71927,294
Other creditors229,443197,181
Accrued liabilities and deferred income3,6353,026
Total1,614,6781,086,258
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts-35,833
Total-35,833
8.Related party transactions
At the balance sheet date, £10,000 was due from related party. The company is taking advantage of the exemptions available withing FRS 102 not to disclose transactions within the group.