Silverfin false false 31/12/2023 23/06/2023 31/12/2023 Laure Baratgin 09/08/2024 Jakob Paaske Larsen 06/09/2024 Paul Blain Markides 28/06/2024 27/06/2023 Ian Jonathan Mcleod 29/04/2024 Panagiotis Nikiteas 29/04/2024 Christopher Geoffrey Oliver 29/04/2024 Andrew James Roberts 02/09/2024 27/06/2023 Christopher Stephen Saunders 31/10/2024 Spyridon Tarasis 29/04/2024 02 December 2024 The principle activity of the Company during the period was that of other business support service activities not elsewhere classified. 14965202 2023-12-31 14965202 bus:Director1 2023-12-31 14965202 bus:Director2 2023-12-31 14965202 bus:Director3 2023-12-31 14965202 bus:Director4 2023-12-31 14965202 bus:Director5 2023-12-31 14965202 bus:Director6 2023-12-31 14965202 bus:Director7 2023-12-31 14965202 bus:Director8 2023-12-31 14965202 bus:Director9 2023-12-31 14965202 core:CurrentFinancialInstruments 2023-12-31 14965202 core:Non-currentFinancialInstruments 2023-12-31 14965202 core:ShareCapital 2023-12-31 14965202 core:RetainedEarningsAccumulatedLosses 2023-12-31 14965202 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-06-22 14965202 2023-06-22 14965202 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 14965202 2023-06-23 2023-12-31 14965202 bus:FilletedAccounts 2023-06-23 2023-12-31 14965202 bus:SmallEntities 2023-06-23 2023-12-31 14965202 bus:AuditExemptWithAccountantsReport 2023-06-23 2023-12-31 14965202 bus:PrivateLimitedCompanyLtd 2023-06-23 2023-12-31 14965202 bus:Director1 2023-06-23 2023-12-31 14965202 bus:Director2 2023-06-23 2023-12-31 14965202 bus:Director3 2023-06-23 2023-12-31 14965202 bus:Director4 2023-06-23 2023-12-31 14965202 bus:Director5 2023-06-23 2023-12-31 14965202 bus:Director6 2023-06-23 2023-12-31 14965202 bus:Director7 2023-06-23 2023-12-31 14965202 bus:Director8 2023-06-23 2023-12-31 14965202 bus:Director9 2023-06-23 2023-12-31 14965202 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-06-23 2023-12-31 14965202 core:Non-currentFinancialInstruments 2023-06-23 2023-12-31 iso4217:GBP xbrli:pure

Company No: 14965202 (England and Wales)

DRY BULK CENTRE OF EXCELLENCE

Unaudited Financial Statements
For the financial period from 23 June 2023 to 31 December 2023
Pages for filing with the registrar

DRY BULK CENTRE OF EXCELLENCE

Unaudited Financial Statements

For the financial period from 23 June 2023 to 31 December 2023

Contents

DRY BULK CENTRE OF EXCELLENCE

COMPANY INFORMATION

For the financial period from 23 June 2023 to 31 December 2023
DRY BULK CENTRE OF EXCELLENCE

COMPANY INFORMATION (continued)

For the financial period from 23 June 2023 to 31 December 2023
DIRECTORS Laure Baratgin (Appointed 09 August 2024)
Jakob Paaske Larsen (Appointed 06 September 2024)
Paul Blain Markides (Appointed 27 June 2023, Resigned 28 June 2024)
Ian Jonathan Mcleod (Appointed 29 April 2024)
Panagiotis Nikiteas (Appointed 29 April 2024)
Christopher Geoffrey Oliver (Appointed 29 April 2024)
Andrew James Roberts (Appointed 27 June 2023, Resigned 02 September 2024)
Christopher Stephen Saunders (Appointed 31 October 2024)
Spyridon Tarasis (Appointed 29 April 2024)
REGISTERED OFFICE Wey Court West
Union Road
Farnham
GU9 7PT
United Kingdom
COMPANY NUMBER 14965202 (England and Wales)
ACCOUNTANT Shaw Gibbs Limited
Wey Court West
Union Road
Farnham
Surrey
GU9 7PT
BANKERS
DRY BULK CENTRE OF EXCELLENCE

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
DRY BULK CENTRE OF EXCELLENCE

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 31.12.2023
£
Fixed assets
Intangible assets 3 16,589
16,589
Current assets
Debtors 4 605
605
Creditors: amounts falling due within one year 5 ( 46,537)
Net current liabilities (45,932)
Total assets less current liabilities (29,343)
Creditors: amounts falling due after more than one year 6 ( 53,842)
Net liabilities ( 83,185)
Capital and reserves
Called-up share capital 0
Profit and loss account ( 83,185 )
Total shareholders' deficit ( 83,185)

For the financial period ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dry Bulk Centre of Excellence (registered number: 14965202) were approved and authorised for issue by the Board of Directors on 02 December 2024. They were signed on its behalf by:

Ian Jonathan Mcleod
Director
DRY BULK CENTRE OF EXCELLENCE

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 June 2023 to 31 December 2023
DRY BULK CENTRE OF EXCELLENCE

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 23 June 2023 to 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Dry Bulk Centre of Excellence (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Wey Court West, Union Road, Farnham, GU9 7PT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 25 % reducing balance

2. Employees

Period from
23.06.2023 to
31.12.2023
Number
Monthly average number of persons employed by the Company during the period, including directors 0

3. Intangible assets

Website costs Total
£ £
Cost
At 23 June 2023 0 0
Additions 18,305 18,305
At 31 December 2023 18,305 18,305
Accumulated amortisation
At 23 June 2023 0 0
Charge for the financial period 1,716 1,716
At 31 December 2023 1,716 1,716
Net book value
At 31 December 2023 16,589 16,589

4. Debtors

31.12.2023
£
Other debtors 605

5. Creditors: amounts falling due within one year

31.12.2023
£
Other creditors 46,537

6. Creditors: amounts falling due after more than one year

31.12.2023
£
Other creditors 53,842

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

Other related party transactions

31.12.2023
£
Loan from Rightship UK including interest 36,779
Loan from Intercargo including interest 17,063

Rightship UK is a founder member of Dry Bulk Centre of Excellence (DBCE), has the right to appoint directors and loaned the company its start up funds. The loan is repayable in full on 30 June 2027 and interest is accruing daily interest set at 6% per annum.

Intercargo is a founder member of Dry Bulk Centre of Excellence (DBCE), has the right to appoint directors and loaned the company its start up funds. The loan is repayable in full on 30 June 2027 and interest is accruing daily interest set at 6% per annum.