Registered number
02349583
Daily Shipping Services Limited
Filleted Accounts
31 May 2024
Daily Shipping Services Limited
Registered number: 02349583
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Investments 4 6,250 6,250
Current assets
Debtors 5 777,996 602,455
Cash at bank and in hand 1,664 73,269
779,660 675,724
Creditors: amounts falling due within one year 6 (594,708) (451,370)
Net current assets 184,952 224,354
Net assets 191,202 230,604
Capital and reserves
Called up share capital 4,998 4,998
Profit and loss account 186,204 225,606
Shareholders' funds 191,202 230,604
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Ross
Director
Approved by the board on 9 February 2025
Daily Shipping Services Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
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).
Turnover
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 rendering of services and is recognised according to the date on which the services are provided.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 5 years straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 17
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 June 2023 84,425
At 31 May 2024 84,425
Depreciation
At 1 June 2023 84,425
At 31 May 2024 84,425
Net book value
At 31 May 2024 -
4 Investments
Other
investments
£
Cost
At 1 June 2023 6,250
At 31 May 2024 6,250
5 Debtors 2024 2023
£ £
Trade debtors 720,412 556,459
Other debtors 57,584 45,996
777,996 602,455
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 1,469 -
Trade creditors 585,423 430,126
Taxation and social security costs (5,081) 6,189
Other creditors 12,897 15,055
594,708 451,370
7 Related party transactions
During the year diviends were paid to shareholding directors of £47,000 (2023: £33,500).

The balance owed to the directors was £470 (2023: £821) at the year end.
8 Controlling party
The company is wholly controlled by the directors.
9 Other information
Daily Shipping Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Abbey Road
Grimsby
North East Lincolnshire
DN32 0HQ
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