Driver Europe Limited 07256445 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is provision of logistic drivers in Europe. Digita Accounts Production Advanced 6.30.9574.0 true 07256445 2023-05-01 2024-04-30 07256445 2024-04-30 07256445 bus:OrdinaryShareClass1 2024-04-30 07256445 core:RetainedEarningsAccumulatedLosses 2024-04-30 07256445 core:ShareCapital 2024-04-30 07256445 core:CurrentFinancialInstruments 2024-04-30 07256445 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 07256445 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 07256445 core:FurnitureFittingsToolsEquipment 2024-04-30 07256445 core:MotorVehicles 2024-04-30 07256445 bus:SmallEntities 2023-05-01 2024-04-30 07256445 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 07256445 bus:AbridgedAccounts 2023-05-01 2024-04-30 07256445 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07256445 bus:RegisteredOffice 2023-05-01 2024-04-30 07256445 bus:Director1 2023-05-01 2024-04-30 07256445 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 07256445 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07256445 core:FurnitureFittings 2023-05-01 2024-04-30 07256445 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 07256445 core:MotorVehicles 2023-05-01 2024-04-30 07256445 core:OfficeEquipment 2023-05-01 2024-04-30 07256445 core:Vehicles 2023-05-01 2024-04-30 07256445 countries:EnglandWales 2023-05-01 2024-04-30 07256445 2023-04-30 07256445 core:FurnitureFittingsToolsEquipment 2023-04-30 07256445 core:MotorVehicles 2023-04-30 07256445 2022-05-01 2023-04-30 07256445 2023-04-30 07256445 bus:OrdinaryShareClass1 2023-04-30 07256445 core:RetainedEarningsAccumulatedLosses 2023-04-30 07256445 core:ShareCapital 2023-04-30 07256445 core:CurrentFinancialInstruments 2023-04-30 07256445 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 07256445 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 07256445 core:FurnitureFittingsToolsEquipment 2023-04-30 07256445 core:MotorVehicles 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07256445

Driver Europe Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2024

 

Driver Europe Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

Driver Europe Limited

Company Information

Director

Mrs J L Skeet

Registered office

Unit 46 Lodge Farm Business Centre
Wolverton Road
Castlethorpe
Milton Keynes
Buckinghamshire
MK19 7ES

 

Driver Europe Limited

(Registration number: 07256445)
Abridged Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

694,869

656,792

Current assets

 

Debtors

379,627

282,117

Cash at bank and in hand

 

307,364

361,593

 

686,991

643,710

Creditors: Amounts falling due within one year

(465,419)

(369,715)

Net current assets

 

221,572

273,995

Total assets less current liabilities

 

916,441

930,787

Creditors: Amounts falling due after more than one year

(545,739)

(591,768)

Provisions for liabilities

(44,714)

-

Net assets

 

325,988

339,019

Capital and reserves

 

Called up share capital

5

100

100

Retained earnings

325,888

338,919

Shareholders' funds

 

325,988

339,019

For the financial year ending 30 April 2024 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 accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 9 January 2025
 

.........................................
Mrs J L Skeet
Director

 

Driver Europe Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 46 Lodge Farm Business Centre
Wolverton Road
Castlethorpe
Milton Keynes
Buckinghamshire
MK19 7ES

These financial statements were authorised for issue by the director on 9 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

The abridged financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements were prepared in accordance with Financial Reporting Standard 102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, specific criteria have been met for each of the company's activities and legal title has passed.

Government grants

Government grants shall be recognised in profit or loss on a systematic basis over the periods in which the entity recognises as expenses the related costs for which the grants are intended to compensate. A government grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in profit or loss of the period in which it becomes receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Driver Europe Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

Tax

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting date.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Vehicles

25% reducing balance

Office equipment

20% straight line

Furniture and fittings

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Driver Europe Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of staff employed by the company (including the director) during the year, was 2 (2023:1).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

1,562

870,913

872,475

Additions

-

251,330

251,330

Disposals

-

(16,500)

(16,500)

At 30 April 2024

1,562

1,105,743

1,107,305

Depreciation

At 1 May 2023

305

215,378

215,683

Charge for the year

315

202,562

202,877

Eliminated on disposal

-

(6,124)

(6,124)

At 30 April 2024

620

411,816

412,436

Carrying amount

At 30 April 2024

942

693,927

694,869

At 30 April 2023

1,257

655,535

656,792

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100