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Registration number: 08444356

Dorset Tanker Solutions Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Dorset Tanker Solutions Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Dorset Tanker Solutions Ltd

Company Information

Director

Adrian Notton

Registered office

Unit 13a Bakers Park
Cater Road
Bristol
BS13 7TT

Accountants

AWG Accountants Ltd
Chartered Accountant49 Fennel Road
Portishead
North Somerset
BS20 7AR

 

Dorset Tanker Solutions Ltd

(Registration number: 08444356)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

25,302

33,632

Current assets

 

Stocks

5

6,432

5,434

Debtors

6

81,613

26,994

Cash at bank and in hand

 

27,976

79,213

 

116,021

111,641

Creditors: Amounts falling due within one year

7

(97,542)

(69,395)

Net current assets

 

18,479

42,246

Total assets less current liabilities

 

43,781

75,878

Provisions for liabilities

(1,080)

(661)

Net assets

 

42,701

75,217

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

42,700

75,216

Shareholders' funds

 

42,701

75,217

For the financial year ending 31 October 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 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 and 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 April 2025
 

.........................................
Adrian Notton
Director

 

Dorset Tanker Solutions Ltd

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

1

General information

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

The address of its registered office is:
Unit 13a Bakers Park
Cater Road
Bristol
BS13 7TT

These financial statements were authorised for issue by the director on 2 April 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.

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.

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;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Dorset Tanker Solutions Ltd

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

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

Fixtures and fittings

25% reducing balance basis

Office equipment

33% reducing balance basis

Plant and machinery

25% reducing balance basis

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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

 

Dorset Tanker Solutions Ltd

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

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2023 - 7).

 

Dorset Tanker Solutions Ltd

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 November 2023

111,416

111,416

Additions

50,289

50,289

Disposals

(50,000)

(50,000)

At 31 October 2024

111,705

111,705

Depreciation

At 1 November 2023

77,784

77,784

Charge for the year

8,619

8,619

At 31 October 2024

86,403

86,403

Carrying amount

At 31 October 2024

25,302

25,302

At 31 October 2023

33,632

33,632

5

Stocks

2024
£

2023
£

Other inventories

6,432

5,434

6

Debtors

Current

2024
£

2023
£

Trade debtors

63,456

26,093

Prepayments

900

900

Other debtors

17,257

1

 

81,613

26,994

7

Creditors

Creditors: amounts falling due within one year

 

Dorset Tanker Solutions Ltd

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

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

20,696

30,672

Trade creditors

 

20,984

16

Taxation and social security

 

22,226

18,069

Accruals and deferred income

 

1,895

1,895

Other creditors

 

31,741

18,743

 

97,542

69,395

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

20,696

30,672

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £500.00 (2023 - £1,000.00) per each Ordinary shares

500

1,000

 

 

11

Related party transactions

 

Dorset Tanker Solutions Ltd

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

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

63,200

63,200