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Registration number: 02683687

Commercial Overseas Drivers International Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Commercial Overseas Drivers International Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Commercial Overseas Drivers International Limited

Company Information

Directors

Ms JA Butcher

DJ Butcher

Company secretary

Ms J A Butcher

Registered office

1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Commercial Overseas Drivers International Limited

(Registration number: 02683687)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,270

1,434

Current assets

 

Debtors

5

43,756

44,922

Cash at bank and in hand

 

20,701

19,514

 

64,457

64,436

Creditors: Amounts falling due within one year

6

(3,631)

(14,319)

Net current assets

 

60,826

50,117

Net assets

 

62,096

51,551

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

61,096

50,551

Shareholders' funds

 

62,096

51,551

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 

.........................................
Ms JA Butcher
Director

   
     
 

Commercial Overseas Drivers International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

Commerical Overseas Driver International Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02683687 and registered office address is as follows:

1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

 

Commercial Overseas Drivers International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the state of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Caravans

25% Reducing balance

Motor vehicles

25% Reducing balance

Office equipment

10% Reducing balance

 

Commercial Overseas Drivers International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

Commercial Overseas Drivers International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

12,526

19,431

14,500

46,457

At 31 December 2024

12,526

19,431

14,500

46,457

Depreciation

At 1 January 2024

12,516

18,131

14,376

45,023

Charge for the year

3

130

31

164

At 31 December 2024

12,519

18,261

14,407

45,187

Carrying amount

At 31 December 2024

7

1,170

93

1,270

At 31 December 2023

10

1,300

124

1,434

5

Debtors

2024
£

2023
£

Trade debtors

-

1,738

Other debtors

43,259

42,719

Prepayments

497

465

43,756

44,922

 

Commercial Overseas Drivers International Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

909

11,661

Accruals and deferred income

 

2,401

2,338

Other creditors

 

321

320

 

3,631

14,319

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Directors current account

909

11,661

8

Related party transactions

During the year, the company rented an office for £1,017 (2023 - £800) from a company, SCI Butcher SA, in which the directors are shareholders. At the balance sheet date the company is owed an amount from SCI Butcher SA of £42,719 (2023 - £42,719), this loan is interest free and payable on demand.